Multiple Shanghai-listed companies' orders signal warming trend

News Report (Reporter Mao Yirong) — On the evening of March 11, Shaanxi Construction Engineering Group Co., Ltd. announced the results of major project bids. Preliminary statistics show that since early March, nearly 20 Shanghai-listed companies, including Hongsheng Huayuan Tower Group Co., Ltd. (hereinafter “Hongsheng Huayuan”), Ningbo Samsung Medical Electrical Co., Ltd., Jinchengxin Mining Management Co., Ltd., Zhejiang Weiming Environmental Protection Co., Ltd., and others, have issued announcements related to orders, bids, and contracts, covering high-end equipment manufacturing, power grid investment, computing power, and “going overseas” orders.

Some industries’ “strong cycles” or high demand have become “strong support.” On March 10, Guangdong Songfa Ceramics Co., Ltd. (hereinafter “*ST Songfa”) released its 2025 annual report. During the reporting period, the company achieved operating revenue of 21.6 billion yuan and net profit of 2.65 billion yuan, representing year-over-year increases of 275% and 1083%, respectively. With comprehensive improvement in core financial indicators, the company also applied to revoke its delisting warning. Behind the high growth in performance is a full-scale push in high-end shipbuilding business.

Recently, *ST Songfa’s orders have been “coming in waves.” On March 6, *ST Songfa announced that its subsidiary Hengli Shipbuilding’s contracts for four ultra-large crude oil tankers (VLCCs) of 306,000 tons had been signed and became effective, with corresponding amounts ranging from $400 million to $600 million. Earlier, on March 3, the company issued a similar announcement that Hengli Shipbuilding’s two 306,000-ton VLCCs had signed contracts, with amounts of $200 million to $300 million. Since 2026, *ST Songfa has issued at least 15 major contract announcements, with high-value VLCCs being the main products. Previously, a leading oil shipping company stated during research that the additional VLCC capacity in 2026 is unlikely to offset the decline in efficiency of aging ships and the exit of compliant ships restricted by Western sanctions. The supply and demand tension in the compliant market is expected to persist, and freight rates are likely to remain above the 2025 median.

Investment in power grid infrastructure is also a major demand. Recently, Changshu Fengfan Power Equipment Co., Ltd. and Hongsheng Huayuan announced that they won or are pre-winning bids for projects related to the Southern Power Grid Zangdongnan to Guangdong-Hong Kong-Macao Greater Bay Area ±800 kV UHVDC transmission project (Zang-Yue DC project), with bid amounts of 290 million yuan and 975 million yuan, respectively. The Zang-Yue DC project has a total investment of about 53.2 billion yuan, with a transmission line length of approximately 2,681 kilometers, crossing Tibet, Yunnan, Guangxi, and Guangdong from west to east. As a national “super project,” it will play a significant role in increasing investment in power grid infrastructure.

The booming development of the computing power industry chain has also driven order volume. Far East Smart Energy Co., Ltd. recently announced that by February 2026, the company had received subsidiary orders totaling over 880 million yuan, including contracts for smart grid cables, smart manufacturing cables, energy storage systems, and more. Regarding the impact of these orders, the company stated it will implement the “Electricity + Computing Power + AI” strategy, continue to expand core technology products or services, and increase sales of high-value products such as specialized cables and submarine cables with independent intellectual property rights, building new development advantages.

“Going global” continues to be another major source of orders. On March 6, Ningbo Samsung Medical Electrical Co., Ltd. announced that its wholly owned subsidiary Samsung Sweden signed a framework contract with Enexis, a Dutch electricity company, with a contract value of about 949 million yuan.

Shenghui System Integration Group Co., Ltd. announced on March 5 that its controlled subsidiary, Thailand Acte, recently won a project for the Pongseng PA03 power and interior electrical installation in Thailand and received related orders, with a total contract value of approximately 242 million yuan (RMB). Analysts say this project marks the company’s entry into overseas capacity layout for PCB leading enterprises.

Zhejiang Weiming Environmental Protection Co., Ltd. announced that it won an Indonesian waste incineration power generation project. On March 2, the company received the winning notice, and as the lead in a consortium, it won the Bali project from Indonesia’s sovereign investment fund DIM. The project plans to build about 1,500 tons/day of incineration and power generation facilities. The company stated that this win signifies an important breakthrough in the Indonesian market, expands its municipal waste treatment business scale, consolidates its market position in the environmental protection field, and injects new momentum for future revenue growth.