China Merchants Industry Holdings Co., Ltd. (hereinafter referred to as "CMI") is the resource integration and management platform for the equipment manufacturing business sector of China Merchants Group (hereinafter referred to as "CMG"). It is the inheritor of CMG's century-old maritime main business, the bearer of the responsibility of manufacturing powerhouse, and the pioneer of technological innovation strategy.
The history of CMI can be traced back to the first ship repairs factory in China, namely Tongmao Iron Factory, established by China Merchants during the Westernization Movement in 1874. The business originated fromYiulian Dockyards,established in Hong Kong in 1964. In 1997,Yiulian Dockyards andChina Merchants Development Company Limited - the investment platform ofShekou Industry Zone, merged to form "China Merchants Industry Holdings Co., Ltd.". After more than a hundred years of accumulation, CMI has developed into one of the three major state-owned marine equipment manufacturing groups in China.
CMI's headquarters is located in Hong Kong, withseven shipbuilding and repairs bases, including nine major shipyards,laid out in the Bohai Bay, Yangtze River Economic Belt, Yangtze River Delta, and Guangdong-Hong Kong-Macao Greater Bay Area in China. Its business primarily focuses on shiprepairs andconversion, offshore equipment manufacturing, and shipbuilding (includingPCTCs,RoRo/RoPax ships,chemicaltankers and cruise ships). It has subsidiaries or overseas agencies in several countries including Finland, Germany, and Poland. By the end of 2022, the company had over 35,000 employees, total assets of aboutUSD7.86 billion, wholly-owned or controlling more than 70 enterprises, holding shares in three listed companies at home and abroad. It is the largest shareholder ofCM Energy (HK00206) and Shelf Drilling (OSLO SHLF), and the second-largest shareholder of CIMC Group (HK02039 & SZ000039). It also has equity investments inenterprises such as China Merchants Commercial Financing Leasing Co., Ltd., China Merchants New Material Technology (Chongqing) Co., Ltd.
CMI adheres to the development path of product differentiation, high-end, andenvironmental friendly. According to different businesses, it has createdYiulian Dockyards, China Merchants Heavy Industry (CMHI), China Merchants Jinling (CMJL), and China Merchants Cruise (CMCS) brands. In terms of shiprepairs and conversion, relying on the“Yiulian Dockyards” brand, inheriting the spirit of a century-old ship repair craftsman, unifying technical standards and management norms,we areleading the industry to promote green technology ship repairs, and fully building a "marine equipmentone stop service".Especially,Yiulian is in a leading position in cruise shiprepairs andconversion, LNG/LPG shiprepairs, FPSO/FSO/FSRU modification, and enjoys a high reputation worldwide. In terms of offshore equipment manufacturing, the "CMHI" brand has been formed, which has industry-leading comprehensive advantages in offshore oil and gas exploration and development equipment, offshore oil and gas production equipment, offshore new energy development equipment, special offshore engineering equipment, offshoreaquaculture facilities, and has the ability tomanufacture FPSO in one stop. It has successfully delivered more than 100 offshoreequipments andunits, andCMHI has become a major global offshore equipment manufacturer. In terms of specialized shipbuilding, the "CMJL" brand has been formed. After more than seventy years of accumulation,CMJLNanjing's "Ro-Ro ships" andCMJLYangzhou's "Handysize ChemicalTankers" have been recognized as national manufacturing single champion products.CMJLWeihai, with its high-endRoPax ships’ performance and technological leadership, has been recognized as a national manufacturing single champion demonstration enterprise. Among ships delivered by CMJL,many types have won the Innovative Ship and Best Ship awards at home and abroad multiple times.CMJL is currently the world's largest Ro-Ro ships manufacturer and a main force in the manufacturing ofhandysize chemicaltankersand gascarriers. In terms of cruise ship manufacturing, with the "CMCS" brand, it has built the full-process service capabilities of cruiseshipsand high-end passenger ships related research, design, manufacturing, supporting, and maintenance, and hasdesigned high-endcoastal cruise ships, river cruise ships,expeditioncruise ships, and mediumcruise ships in stages and at different levels. It delivered the first polar expedition cruise ship made in China, successfully delivered China's first oil-electric hybrid luxury catamarancoastal ships and a new generation of high-end Yangtze River cruise ship "Yangtze No. 3", and has become an industry-leadingsmall andmediumcruise ship manufacturer.
China Merchants Industry has established a "1+2+N" multi-level and mutually supportive scientific and technological innovation system. This includes numerous research, R&D, and technological innovation platforms such as the China Merchants Ocean Equipment Research Institute, China Merchants Cruise Research Institute, and China Merchants Industry Development Research Center, etc.. The company also owns Deltamarin design group, the world's largest independent ship design company from Finland, and has more than 2,000 professional technicians, including over 400 foreign employees. This makesDeltamarin the most internationalized company indomestic industry with the highest number of foreign experts. With these resources, China Merchants Industry possesses comprehensive capabilities to provide a full suite of solutions to global customers, includingresearch and development, design, and construction of marine engineering equipment and units, specialized ship building, and cruises.
China Merchants Industry adheres to the strategic principles of "focusing onlong term, seizing the present, leading with technology, and embracing change". With the mission to support marine economic development, it concentrates on high-end,environment friendly, and technology-oriented marine equipment. The company strives to become a pioneering technology-led marine equipment manufacturing enterprise in China, and is committed to building an industrialpower towardsdeep blue.CMI contributes effortsin support of China Merchants Group's goal to become a world-class enterprise with global competitiveness.