(Yicai Global) March 10 -- Shares of Southeast Space Frame jumped to the highest in over two years today after the Chinese firm that has made steel structures for Beijing's National Aquatics Center and Hangzhou East Railway Station said that it will build a highly automated plant in Hangzhou.

SSF's stock price [SHE: 002135] climbed by the daily limit of 10 percent to CNY8.14 (USD1.20) today with a CNY8.4 billion (USD1.2 billion) market cap. It went beyond that last time in late 2017.

The steel industry player will invest CNY600 million (USD86.5 million) in the project that will be ready within 18 months, the Hangzhou-based firm said in a statement yesterday. The factory that will adopt intelligent management systems will have an annual output of 200,000 tons. 

Editor: Emmi Laine