China Shipbuilding and Guangdong State-owned Assets are establishing a new company.

According to the Enterprise Check app, recently, China Shipbuilding Port Shipping Co., Ltd. was established, with Quan Weixiong as the legal representative and a registered capital of 5.88 billion yuan. Its business scope includes: general parts manufacturing; sales of glass fiber reinforced plastic products; international maritime cargo transportation agency; manufacturing of high-performance fibers and composite materials. Shareholding penetration by Enterprise Check shows that the company is jointly held by CSIC's Guangzhou Shipyard International Co., Ltd. and Guangdong Xinzhong Shipyard Co., Ltd.