Guangzhou Shipyard International (GSI) is planning a restructuring of the major assets of the company, a move made amid the height of a global shipbuilding slump.

The Chinese shipyard announced to the Hong Kong Stock Exchange that it has engaged “relevant professional parties to commence work” on the potential restructuring.

The company, however, stopped short of revealing further details of the plan and the rationale behind it.

"Once the preparatory work of the professional parties is completed, the company will convene a meeting of the board of directors to consider the notifiable transaction,” GSI said in a statement.

GSI had hinted on a major upcoming deal on 13 May, but it also did not reveal details.

The yard posted a net profit of RMB54.12m ($8.79m) in the three months ended 31 March 2013, lower compared to RMB79.4m in the same period of 2012.