China Shipbuilding Industry Corporation (CSIC)'s total revenue for 2011 recorded CNY 58.045bn ($9.1bn), up by 7.27% year-on-year and net profit increased by 8.9% to around CNY 4.7bn, according to its report on April 11.
CSIC completed acquisition of Bohai Shipbuilding Heavy Industry, Dalian Shipbuilding Industry, etc., in 2011.
Of CSIC's five major businesses, Shiprepairing & Conversion, Naval Products and Offshore Engineering divisions have seen decreases in profits last year, while Shipbuilding, Scientific & Technology Support divisions increased profits.
Total margin stood at 6.99%, down by 0.83%p.
During the same period, CSIC's total production value of completed products has gained to CNY 65.6bn, up by 10.4% y-o-y, while new order and orderbook as of the end of 2011 are CNY 53.7bn and CNY 84.6bn.
Although 2012 seems still unfavorable, there are opportunities in offshore and energy related markets, said CSIC.