Shuangliang Eco-Energy Systems Co.,Ltd. (600481) experienced a rapid surge in its stock price, hitting the daily limit-up in afternoon trading on February 12. The maximum value of buy orders at the limit price reached 1.1 billion yuan, with the day's total trading volume hitting 1.762 billion yuan.
Just before the stock price increase, Shuangliang Group's official WeChat account published a market update at 1:02 PM, announcing that Shuangliang Eco-Energy had recently secured three overseas orders. These orders involve a total of 12 high-efficiency heat exchangers, which will be used in the fuel production system supporting the expansion of the SpaceX Starship launch base.
On the evening of February 12, Shuangliang Eco-Energy issued an explanatory announcement regarding these overseas orders. The company stated that the supply items for the aforementioned orders are high-efficiency heat exchangers, with a total contract value of approximately 1.7 million euros (equivalent to about 13.923 million yuan). The total value of these orders is not expected to have a significant impact on the company's operating performance.
At noon today, Shuangliang Eco-Energy published a market update on its WeChat official account titled "Shuangliang Eco-Energy Secures More Overseas Orders, Aiding Commercial Space Exploration." The update mentioned that these three overseas orders represent "the product's renewed application in the SpaceX Starship launch base following prior cooperation, which fully demonstrates the high level of trust overseas clients place in the reliability of Shuangliang Eco-Energy's products."
It is understood that SpaceX is accelerating the development of its Starship launch capabilities, planning to build three new launch pads at Cape Canaveral, Florida. These will be situated near NASA's Kennedy Space Center LC-39A launch site and the Cape Canaveral Space Force Station LC-37 launch site. As the launch frequency of the Starship continues to increase, related equipment supply chains are facing exponential growth opportunities.
In its market update, Shuangliang Eco-Energy stated, "This series of orders not only reflects the international market's high recognition of Shuangliang's technical strength and delivery system but also injects strong momentum for Chinese high-end manufacturing to further integrate into the global commercial aerospace industry chain. In the future, Shuangliang Eco-Energy will leverage its core strengths in high-end equipment to continuously strengthen close cooperation with Fortune Global 500 companies and tap into broader overseas markets."
In the explanatory announcement disclosed on the evening of February 12, Shuangliang Eco-Energy clarified that the company's current main business products include energy-saving and water-saving products, new energy equipment, and photovoltaic products. Their primary downstream application fields are new energy power generation, steel, coal chemical industry, and thermal power. The announcement stated, "Commercial aerospace is not a main application field for our company's products. This order involves our indirect participation in the related commercial aerospace project by supplying heat exchangers for a fuel project of an international industrial gas company. We did not cooperate directly with SpaceX, and our company is a non-exclusive indirect supplier for the project."
Shuangliang Eco-Energy also highlighted associated risks, noting that the acquisition of such orders is heavily influenced by the construction and expansion plans of commercial aerospace projects. Therefore, there is some uncertainty regarding securing future orders. Furthermore, factors such as international political, economic, and diplomatic relations could impact the progress of international cooperation projects. Issues like trade friction or geopolitical conflicts might lead to project suspension or termination. Investors were advised to pay attention to these related risks.
Previously, Shuangliang Eco-Energy disclosed its performance forecast for the 2025 fiscal year, anticipating a net profit attributable to the listed company's shareholders in the range of a loss of 1.06 billion yuan to a loss of 780 million yuan. Investors were reminded to be aware of the risks associated with this expected operating loss.