Ship­builder launch­esLNG ves­sel con­struc­tion project

China Daily (Canada) - - BUSINESS -

Yangzhou Dayang Ship­build­ing Co launched a project onWed­nes­day in Nan­tong, Jiangsu prov­ince, to build liq­ue­fied nat­u­ral gas ves­sels. Dayang, which builds medium-sized bulk car­ri­ers, has re­ceived or­ders for 100 Crown 63,000-dead­weight­ton­nage ves­sels, of which 32 have been de­liv­ered. The ship­yard signed a strate­gic co­op­er­a­tion agree­ment with the Jiangsu HaitongMarine En­gi­neer­ing Equip­ment Co in Jan­uary for the rental of its fa­cil­i­ties and equip­ment. The new line is set to pro­duce three 27,500-cu­bic-me­ter LNG ves­sels this year, with more or­ders ex­pected. Ltd re­ported its slow­est an­nual rev­enue growth in three years onWed­nes­day. The com­pany made 4.47 bil­lion yuan ($732.8 mil­lion) in rev­enue in 2013, up 11.74 per­cent year-on-year, ac­cord­ing to its an­nual re­port. Net profit grew 28.76 per­cent from 2012 to 800 mil­lion yuan. Shang­hai Jahwa share prices fluc­tu­ated dras­ti­cally last year due to lead­er­ship re­struc­tur­ing and il­le­gal in­for­ma­tion dis­clo­sure charges. Thurs­day it plans to re­lease 15 movies in 2014, with the goal of tak­ing in 3 bil­lion yuan at the box of­fice. In 2013, it re­leased nine films, gen­er­at­ing more than 1 bil­lion yuan in ticket sales, and achiev­ing third place among pri­vate movie com­pa­nies in China, where the na­tional box of­fice hit 21.77 bil­lion yuan last year, up 27.51 per­cent year-on-year. The com­pany also an­nounced its de­vel­op­ment strat­egy for the next three years, in which it will tran­si­tion from a tra­di­tional movie com­pany to an In­ter­net com­pany.

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