Hengli Heavy Industry Reports Strong First-Half Results with Estimated Profit of RMB 2.6 Billion and 207 New Orders

On the evening of July 7, Songfa Co., Ltd. released its 2026 Semi-Annual Results Forecast. For the first half of the year, the company expects to achieve a net profit attributable to shareholders of approximately RMB 3.6 billion, representing a year-on-year increase of 456.33%. Net profit after deducting non-recurring items is forecast at approximately RMB 3.5 billion, a year-on-year surge of 2,922.83%.

As the core asset of the listed company, Hengli Heavy Industry's half-year profit far exceeded market expectations. Combined with the RMB 2.579 billion in deducted non-recurring net profit contributed in 2025, the company has already exceeded—in just a year and a half—the cumulative target of "deducted non-recurring net profit of no less than RMB 4.8 billion for 2025–2027" stipulated in the Performance Compensation Agreement at the time of the restructuring.

During the first half of the year, Hengli Heavy Industry secured new orders for 207 vessels, bringing its cumulative order intake to over 500 vessels, covering the full spectrum of containerships, bulk carriers, tankers, and gas carriers, with delivery slots extending through 2030. The company achieved high-quality, ahead-of-schedule delivery of 40 vessels in the first half, and plans to deliver a total of 82 vessels over the full year.

Hengli Heavy Industry attributed this performance to a prolonged period of strong upward momentum in the global shipbuilding market. Robust newbuilding demand has provided ample industry tailwinds for the company's explosive performance. Facing these opportunities, Hengli Heavy Industry's internal strengths have also proven solid. Core advantages—including large scale, a strategic location, high efficiency, and comprehensive supporting facilities—have been continuously realised. Cost reduction and efficiency gains from autonomous and controllable marine engine production, coupled with the stepped-up efficiency driven by rhythmic construction and batch delivery, have led to substantial increases in both construction starts and deliveries in the first half. More profoundly, the company's strategy of "high-end, green, smart, and digital" development is rapidly materialising from top-level design into actual production capacity, with the share of high-value-added vessel types such as tankers and containerships steadily rising to become the core engine driving continued improvement in profitability.

As the world's largest single-site green shipbuilding base with the most comprehensive supporting facilities, Hengli Heavy Industry has built a core production capacity capable of processing 3 million tonnes of steel annually and manufacturing 300 marine engines per year. It possesses four ultra-large dry docks and world-class building berths, enabling the simultaneous batch construction of high-value-added vessel types such as VLCCs and 10,000-TEU-class containerships. A modern industrial system offering full-process, autonomous control—from steel plate pre-treatment to block assembly, from dock erection to power system integration—is now deeply integrated. The synergistic operation of a "full spectrum and full chain" effectively mitigates the risks of vessel-type cyclicality and supply chain volatility, while continuously strengthening the company's earnings base.

Hengli Heavy Industry has achieved a dense series of operational highlights since the beginning of this year. At the start of the year, four VLCCs were floated out of a single dock simultaneously and six large vessels were undocked on the same day, setting two world industry records within three days. In April, the Hengli 8G95 LNG dual-fuel engine was successfully delivered, filling a domestic gap in the construction of dual-fuel engines at this power class. In June, two 306,000 dwt VLCCs were simultaneously named and delivered, and a 93,000 cbm VLAC block was successfully launched from the building berth—both setting global "first-of-their-kind" records.

In the first half of the year, Hengli Heavy Industry secured new orders for 207 vessels, comprising 49 bulk carriers, 56 containerships, 94 tankers, and 8 Very Large Ammonia Carriers, setting dual records for a single yard in both order intake volume and vessel-type diversification. Containerships and tankers together account for over 70% of the total, with the high-value-added characteristic becoming increasingly pronounced. The securing of eight VLACs signifies that the company has already entered the global first tier in the emerging gas carrier segment.

Industry insiders have commented that Hengli Heavy Industry has completed the transition from "cross-sector entrant" to "front-runner" in just over three years, and that its order structure now bears the hallmarks typical of a top-tier international shipyard.