On April 23, Jianglong Shipbuilding Co., Ltd. (hereinafter referred to as “Jianglong Shipbuilding”) released the “2024 Annual Report”.
The report disclosed that in 2024, Jianglong Shipbuilding achieved operating income of RMB 1.729 billion (approximately US$237 million), an increase of 45.72% over the same period last year, breaking the RMB 1.5 billion mark for the first time. Net profit attributable to shareholders of the listed company was RMB 11.2478 million; net profit after deducting non-recurring items was RMB 13.8002 million, a year-on-year decrease of 52.93%.
Jianglong Shipbuilding said that during the reporting period, the company increased its market layout in special operation ships. Among the newly signed orders, the proportion of fire boats, pilot boats, crew transfer vessels (CTVs) and other categories increased, the order structure became more balanced, and the dependence on a single product was reduced.
The total amount of new orders for the whole year was RMB 982 million (approximately US$135 million), of which a total contract of 12 aquaculture workboats was signed with Norwegian Moen Marin, with a total amount of RMB 629 million. Four new boats were signed and two came into effect that year, with a total amount of RMB 101 million, setting a new record for the company in this type of product.
In addition, the company’s ship repair division was formally established, using its own geographical, qualification and site advantages to enter the ship aftermarket, laying the foundation for the development of new business directions in the future.
According to the report, the main business of Jianglong Shipbuilding covers the categories of tourism and leisure boats and special operation ships, with 52 boats shipped for the year, a year-on-year decrease of 47.47%. However, the operating income still increased significantly due to the increase in the value of single product.
In 2024, Jianglong Shipbuilding’s R&D expenses will be RMB 54,690,800, with R&D directions covering new energy boats, special operation ships, unmanned boats and smart boats. During the reporting period, several R&D projects were completed, including water spacecraft and smart firefighting boats, and the technological achievements are expected to be further transformed into market competitiveness.
Meanwhile, Jianglong Shipbuilding’s “Marine Advanced Boat Intelligent Manufacturing Base” has been fully put into production, effectively relieves the bottleneck of production capacity, improving product construction capacity and production efficiency, and having the ability to build 1,000-ton and 100-meter-class ships. In 2024, Jianglong Shipbuilding attached great importance to the international market, established an international business department, and improved the efficiency of overseas order fulfillment; at the same time, it promoted the development of ship repair business and lays out a full life cycle service system for ships.