(Yicai Global) May 9 -- Shares of Dajin Heavy Industry surged nearly 4 percent after China's biggest private maker of foundations for wind power parks said it has won its largest offshore monopile order of EUR547 million (USD605 million) from a European consortium.

Dajin’s stock price [SHE: 002487] was flat at CNY31.93 (USD4.60) as of 2.08 p.m. after rising as much as 4 percent intraday.

A unit of the wind power equipment giant has been chosen by a Germany-registered consortium of three project companies as its preferred supplier and to provide it with monopile foundations for its offshore wind farms in Europe, the Beijing-based company said in a statement yesterday, without disclosing more details about the timetable and the client. It did, however, say that the firm has not had any transactions with the group in the past three years.

The order equals about 80 percent of Dajin's total audited revenue last year so it is expected to have a positive effect on its future operations, it added.

Dajin has lately been scoring more clients in Europe as the firm signed three supply contracts worth EUR195.8 million with European customers from October to November 2022, including one for the world’s largest offshore wind power project Dogger Bank Wind Farm, located off the east coast of Yorkshire in the United Kingdom. In November, Dajin said that it would join hands with Empire Engineering, a wind turbine frame designer based in the UK, to expand their respective businesses in China and Europe.

Editor: Emmi Laine, Xiao Yi