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Jiangnan Shipyard aims to boost revenue 16.2%
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JIANGNAN Shipyard (Group) Co, China’s largest naval shipbuilder, said yesterday that it aims to lift annual revenue to 15 billion yuan (US$2.4 billion) this year under the government’s “Made in China 2025” blueprint.
The shipbuilder’s revenue this year is set to climb 16.2 percent from 12.92 billion yuan a year ago. It expects profit to surge more than 300 percent from 2014 to 418 million yuan this year.
The company is optimistic of meeting its performance expectations as its increased capacity will help the shipyard build 23 ships this year, up from 17 in 2014, Huang Yongxi, president of the shipyard, said yesterday.
The State Council, China’s Cabinet, last month unveiled the “Made in China 2025” blueprint to transform the country into a major global technological manufacturing power. The 10-year vision emphasizes the country’s expertise in ocean engineering equipment and building high-tech ships.
The shipyard, which celebrated its 150th anniversary yesterday, aims to raise the contract value of high-tech ships by 8.1 percent to 8.28 billion yuan in 2015, which will see seven such vessels completed.
The shipyard’s parent, China State Shipbuilding Corp, is arguably the world’s largest shipbuilder by orders.
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