(Yicai) Sept. 17 -- Shares of Shenling Environmental Systems rose after the leading Chinese supplier of air conditioner and temperature control equipment said it has secured a USD415 million order for air cooling gear from an overseas client.

After surging by as much as 9.1 percent in Shenzhen earlier today, Shenling [SHE: 301018] closed up 2.8 percent at CNY104.14 (USD15.53) a share. Stock markets in China and elsewhere retreated after the US Federal Reserve raised its main interest rate overnight for the first time since 2023.

Under the contract signed yesterday, Shenling will supply the equipment within 120 days, the Shunde-based company announced today, adding that the order will strengthen its existing ties with the unidentified buyer. The deal includes provisions covering product specifications, order volumes, pricing, payment terms, and other key commercial conditions, it said.

The contract will support Shenling’s international expansion strategy and contribute to the achievement of its long-term development goals, it said, noting that the deal is expected to have a positive impact on next year’s earnings.

Shenling had operating revenue of almost CNY1.8 billion (USD268.4 million) in the six months ended June 30., after posting CNY4.2 billion last year.

Set up in 2000, the company provides temperature control solutions for computing centers, industrial applications, nuclear power, rail transit, and public buildings, holding a leading position in China's liquid cooling data center market, particularly with its coolant distribution units and their application in artificial intelligence computing.

It clients included Huawei Technologies, ByteDance, Tencent Holdings, Alibaba Group Holding, Baidu, Meituan, Kuaishou Technology, and JD.Com, according to its first-half business report.

Editor: Martin Kadiev