Zhuhai ship company bolsters industrial chain with acquisition
Jiuzhou Blue Seajet, a subsidiary of State-owned Jiuzhou Holdings Group, signed an agreement to acquire 40 percent equity of Jinwan-based Aulong Shipbuilding on Feb 28. The transaction will enable the two companies to reinforce their complementary advantages in the upstream and downstream of the shipbuilding industrial chain.
The two parties have been cooperating with each other for several years. Aulong has built nine high-quality luxurious cruise ships for Jiuzhou Blue Seajet, including the Ne Zha and Xin Hai Wei. They will continue to bolster shipbuilding research and development to make more breakthroughs in new energy and high-performance vessels in the future.
Xin Hai Ao built by Jiuzhou Blue Seajet and Aulong Shipbuilding [Photo courtesy Zhuhai Daily]
Jiuzhou Blue Seajet mainly engages in the waterborne transportation and waterside cultural tourism industry, covering waterborne tourism and sports as well as wharves. It now possesses China's largest high-speed passenger fleet of over 100 ships, including mini cruises and yachts. In addition to ferry routes between Zhuhai, Shenzhen, Macao, and Hong Kong, its business scope has been expanded to Changsha of Hunan province, Hainan's Sanya, and Zhejiang's Taizhou.
Becoming a shareholder of Aulong Shipbuilding will effectively reduce Jiuzhou Blue Seajet's costs in shipbuilding and maintenance, while increasing its profits and core competitiveness.
Aulong Shipbuilding is a subsidiary of Zhuhai-headquartered Jianglong Shipbuilding, an A-share listed company and a domestic pioneer in high-performance ship building. A leader in the industrialization of new energy ships, Aulong has also promoted its products to countries alongside the Belt and Road, as well as several developed countries.