On September 12, the CSRC’s official website disclosed that COSCO Shipping Heavy Industry Co., Ltd. (hereinafter referred to as “COSCO Shipping Heavy Industry”) has formally obtained registration for its pre-IPO tutoring filing and plans to launch an A-share IPO, with China International Capital Corporation (CICC) and China Merchants Securities as its pre-IPO tutoring institutions.

The IPO tutoring filing report shows that COSCO Shipping Heavy Industry was established on December 8, 2016, with registered capital of RMB 3.6 billion and Gu Zhongdong as its legal representative. China COSCO Shipping Corporation Limited is the company’s controlling shareholder, directly holding 100% of its shares.

In principle, the tutoring period may not be less than three months. Counting from September 12, COSCO Shipping Heavy Industry is expected to meet this statutory minimum duration as early as around December 2026.

According to the company’s website, COSCO Shipping Heavy Industry is an equipment manufacturing industrial cluster under China COSCO Shipping Corporation Limited and a large heavy-industry enterprise integrating the construction, repair and conversion, and supporting services of ships and offshore engineering equipment. The company owns nine large and medium-sized shipyards and can build more than 8 million deadweight tons of various merchant ships annually. It has delivered more than 860 ships of various types, among which more than 10 ship types filled gaps in China’s shipbuilding industry. In the offshore engineering sector, the company can undertake 12 offshore engineering products and 20 sets of offshore engineering modules annually. It has delivered more than 50 offshore engineering projects, covering all types from offshore to deep sea; several of these projects are world firsts and internationally high-end products.

In 2025, COSCO Shipping Heavy Industry’s revenue grew 22.03% year on year, and its gross margin rose 2.66% year on year. Based on this, its revenue scale is estimated to have approached RMB 50 billion. In terms of orders, in 2025 COSCO Shipping Heavy Industry received new shipbuilding orders for 79 vessels worth RMB 41.3 billion; it completed and delivered 62 vessels, totaling 6.31 million deadweight tons, during the year. As of the end of 2025, the company’s shipbuilding order backlog reached 216 vessels, or 24.77 million deadweight tons, with 76 vessels, or 8.11 million deadweight tons, under construction. From the perspective of broader industry trends, COSCO Shipping Heavy Industry’s push for an IPO at this time comes at a high point for China’s shipbuilding industry. According to statistics on China’s shipbuilding industry for the first half of 2026 released by the Ministry of Industry and Information Technology, in the first half of the year China’s completed shipbuilding volume was 36.50 million deadweight tons, up 51.2% year on year; new orders were 121.06 million deadweight tons, up 173.1% year on year; and as of the end of June, the order backlog was 363.25 million deadweight tons, up 54.9% year on year.