Hengli Heavy Industry — now the core business of ST Songfa following a landmark restructuring — has become the driving force behind one of China’s most striking corporate transformations.

In the first half of 2025, Hengli Heavy Industry delivered RMB 722 million (USD 100m) net profit, setting the foundation for ST Songfa’s strong recovery. Overall, ST Songfa reported RMB 6.68 billion in revenue (up 315% YoY) and RMB 647 million net profit, achieving a decisive turnaround from previous losses.

This performance highlights the success of ST Songfa’s bold pivot from ceramics to shipbuilding. By fully injecting Hengli Heavy Industry into the listed entity, the company has transformed itself into a high-end, green, and globally competitive shipbuilder.

Hengli’s “Ocean Factory” is already in full production, while its “Future Factory” is ramping up capacity. With annual steel processing of 2.3 million tons, the ability to build LNG, LPG, methanol, and ammonia dual-fuel engines, and an orderbook stretching to 2029, Hengli is positioned as a new heavyweight in global shipbuilding.

This case is more than a financial turnaround — it demonstrates how capital markets can empower industrial upgrading and how Chinese shipyards are reshaping the international landscape with scale, innovation, and green technologies.

Hengli Heavy Industry is not only powering ST Songfa’s profitability, but also fueling China’s ambition to become a true shipbuilding powerhouse.

by Xinde Marine News Chen Yang

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