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Afai SouthernShipyard (Panyu Guangzhou) Ltd. was founded in Year 1992 and recapitalized inYear 2004 by her shareholders China State Shipbuilding Corporation Limited (51%shares) and China COSCO Shipping Corporation Limited (49% shares)

China StateShipbuilding Corporation Limited is a large key SOE, a merged entity formed bythe former China State Shipbuilding Corporation and the former ChinaShipbuilding Industry Company Ltd. on October 14, 2019 in accordance with thedecision of the Party Central Committee and the approval of the State Council.There are 147 scientific research institutes, enterprises and listed companieswith total assets of 790 billion yuan and 310,000 employees. CSSC has thelargest shipbuilding and repair base in China and the most comprehensiveresearch and development capabilities for ships and supporting products, whichmakes it can design and build the ships and offshore equipment in line with therules of global classification societies and the regulations of internationalgeneral technical standards and safety conventions. CSSC is the largestshipbuilding group among the world.

China COSCO Shipping Corporation Limited is an SOEheadquartered in Shanghai. It is the merged entity of China Ocean Shipping(Group) Company (COSCO) and China Shipping (Group) Company (China Shipping). Asof March 31, 2020, the total fleet of COSCO SHIPPING comprises of 1310 vesselswith a capacity of 105.92  million DWT, ranking No.1 in the world. Itscontainer fleet capacity is 3.04 million TEU, ranking the third in the world. Its dry bulk fleet (424 vessels/41.14 million DWT), tanker fleet (204vessels/26.12 million DWT) and  general and specialized cargo fleet (152vessels/4.36 million DWT) are all topping the world’s list.