(Yicai Global) Dec. 15 -- Shares of Alcha Aluminum Group surged today after the Chinese alloy products maker said that its unit will help prepare Ruike Biotechnology's new plant to produce Covid-19 vaccines.

Alcha's stock price [SHE:002160] jumped by the daily limit of 10 percent to CNY4.18 (US 60 cents) this morning with a CNY3 billion (USD457.6 million) market cap.

Macroprocess Lustration Technology inked an engineering service contract with Jiangsu province-based Ruike Biotechnology to install equipment and clean the premises at the latter's plant in eastern China's Taizhou, the Changshu-based firm said in a statement yesterday, without disclosing more timing or financial details.

Ruike Biotechnology began building its vaccine factory in Taizhou in late November, according to Taizhou Daily. The recombinant protein vaccine is expected to enter phase I clinical trial in January 2021 and to kick off phase III in April. After that, the product should hit global markets in the second half of 2021, according to the same report.

The project will help increase Alcha’s influence in the medical cleaning market and improve its future operating results, the company added.

Editor: Emmi Laine