(Yicai) Jan. 25 -- Shares of Sirui Advanced Materials surged after the Chinese high-performance alloy materials supplier unveiled two investment plans worth a total of CNY1.3 billion (USD184 million).

Sirui Advanced Materials [SHA: 688102] closed up 10.8 percent at CNY11.4  (USD1.57) in Shanghai today.

Sirui Advanced Materials will invest CNY510 million (USD72 million) in a facility to produce materials, parts, and modules used in thrust chambers of liquid rocket engines, the Xi'an-based company announced yesterday. The construction, which will be divided in two phases, is expected to be completed in five years.

The interior of thrust chambers of liquid rocket engines need to have special high-temperature resistance and thermal conductivity qualities to ensure the engine's normal operation, Sirui Advanced Materials added, noting that once the project is completed, the company's annual production capacity of interior and exterior walls for thrust chambers for rocket engines will reach 1,100 sets.

In a separate statement on the same day, Sirui Advanced Materials also unveiled plans to build an industrial park to produce other alloy materials. Some CNY400 million will be used for the research, development, and production of electric vacuum materials and parts applied in medical imaging equipment, CNY320 million to make optical module chip base and case materials, and CNY100 million to produce tungsten copper alloy and parts.

The construction of the production line for electric vacuum materials and parts applied in medical imaging equipment will last four years, while that of the other two production lines of the same project will last five years, Sirui Advanced Materials noted.

Sirui Advanced Materials counts General Electric, Westinghouse Air Brake, Alstom, Schneider Electric, Siemens, and ABB among its main overseas clients of high-performance alloy materials, according to the supplier's 2022 annual report.

Chinese private aerospace firms LandSpace Technology, iSpace, and JiuZhou Yunjian are among Sirui Advanced Materials' main customers of interior walls for liquid rockets engine's thrust chambers.

Editor: Futura Costaglione