Dear Reader,
Some time has passed since we have published our latest Greater China Water Sport & Yacht Industry newsletter. Our team in Hamburg and Dalian was pretty busy with some exciting projects.
But we would like to start the new season with an update. Things are moving ahead in China - also for the watersport and yacht industry.
We would be more than happy to receive your positive feedback – and of course getting a request for one of our various services we can offer to you from our offices in Dalian and Hamburg.
Best regards
The Mussenbrock & Wang Team!
Hunan-based Sunbird Yacht, which designs and manufactures recreational vessels, today launched an IPO of 22m shares in order to raise 159m yuan. A total of 4.4m shares will be issued offline and 17.6m shares online. The company last year reported net sales of 181m yuan, with a net income of 28.03m yuan.
Sunbird told CapitalVue.com that the proceeds will be used to invest in three projects, including one for the construction of high-tech composite yachts. The company, which was launched in 1993, will be the first yacht builder in China to raise funds through an IPO. Sunbird President Li Yuexian told the China Daily that it needs to raise the money to improve its supply chain facilities in order to retain market share.
According to the China Association of National Shipbuilding, Sunbird has total market share of 6.14 per cent, while the Cheoy Lee Shipyard is market leader with 10.37 per cent market share. Sunbird has built more than 10,000 boats since its inception.
A new 750-berth marina — with a large number of superyacht berths — is due to become operational in Beijing by the end of this year. The US$200m Dongjiang yacht port in Tianjin will be able to accommodate yachts up to 92m (300ft).
The marina will be part of a larger development that will include five-star hotels, a yacht club — and a yacht building and repair zone. China has around 1,400 dollar billionaires — with 97 believed to have assets worth more than US$1.5bn.
Formula Marine has announced its first Chinese contract for a 52m (170ft) yacht that is currently in-build at Shanghai Blunauta Yacht Co.
The Dutch mast-builder will supply a full sail control package of rig and deck gear, including winches, tracks, standing and running rigging, together with the system's power pack.
Spanish motoryacht producer Rodman has revealed that its first unit intended for the Chinese market, a Muse 50, left Vigo's harbour arrived in Shanghai end of 2010.
Hainan, the smallest province in the People's Republic of China, has become the fastest-growing yacht and boat centre in that country. The island hosted a large boat show last December and has set up a retail centre and marina.
Now the Hainan Yachting Association has been launched. A group of 80 participants came together to outline the principles behind the group. The Hainan Yachting Association said that it intends to teach seamanship and boat handling skills to both sailors and powerboaters, organise cruises and regattas in China and Asia, publish books and manuals on boating, and participate in boat shows and festivals. “The mission of Hainan Yachting Association is in the promotion of yachting in Hainan Province and to attract the maximum number of people to employment yachting and other active water sports,” said a statement.
The association said that for the first time in China, foreigners will be allowed to operate yachts in Hainan Province. It said that Hainan has created the “most favourable conditions” for non-Chinese to engage in yachting.
Sanya will also be a stopover for the 2012/2013 Volvo Ocean Race.
Shanghai CIBS
The 16th edition of China(Shanghai) International Boat Show
April 14 to 17 2011 at Shanghai Exhibition Centre
SIBEX
China Shenzhen International Boat Show
October 20 to 23, 2011
Mussenbrock & Wang GmbH - Hamburg Office
ham@mussenbrockwang.com
Mussenbrock & Wang GmbH Dalian Representative Office
dlc@mussenbrockwang.com