“Science and Technology Innovation Board Daily”, January 25 — After announcing the two projects to be built, Sirui New Materials quickly received the letter. Concerned that it “doesn't have enough money”, the Shanghai Stock Exchange sent an inquiry letter to Sirui New Materials this evening:

In response to the “Notice on Investing in the Construction of the “Sirui New Materials Technology Industrial Park Construction Project (1)” (“Industrial Park Project”) and the “Notice on Investing in the Construction of the “Liquid Rocket Engine Thrust Chamber Materials, Parts, and Components Industrialization Project” (“Liquid Rocket Engine Thrust Chamber Project”) issued by Sirui New Materials the day before (January 24), the Shanghai Stock Exchange stated that the company plans to invest 820 million yuan and 510 million yuan respectively in the above projects, with a total investment amount of about 1,330 million yuan.

According to the company's report for the third quarter of 2023, the company's monetary capital at the end of the period was 74 million yuan, transactional financial assets of 101 million yuan, and notes receivable and accounts receivable of 311 million yuan, which is quite different from the planned amount of capital invested.

Based on this, the Shanghai Stock Exchange requested that Sirui New Materials further disclose information such as phased funding and capital investment plans, funding sources, and investment schedule for the above two projects.

Among the above projects, the “Liquid Rocket Engine Thrust Chamber Project” is undoubtedly impressive. Today (January 25), Sirui New Materials moved high and closed up 10.84%.

Liquid rockets are rockets that use liquid propellants. A rocket engine is a key component of a launch vehicle, accounting for about 30% of the total cost of a launch vehicle. According to different propellants, they can be divided into solid engines and liquid engines. Among them, liquid engines have the advantages of high specific impact, adjustable thrust, and multiple starts. Liquid oxymethane is the mainstream choice for engine fuel.

Sirui New Materials is a leading platform for high-performance copper-based new materials in China. The field of liquid rockets is one of the company's plans for innovation. The company recently said in response to agency research that the company focuses on the fields of copper-chromium-zirconium and copper-chromium-niobium additive manufacturing, focusing on the propeller interior walls of rocket engines in major national aerospace engineering projects. The materials for liquid rocket engine thrust interior wall products developed independently are new applications of high-strength and high-conductivity copper alloy materials in liquid rocket engine thrust interior walls.

Sirui New Materials said that after joint verification with downstream customers, the product's performance has basically reached the international advanced level, filling domestic gaps, and will serve major national aerospace projects on the one hand, and continue to serve rapidly accumulating private space enterprises.

It is worth noting that China is at the forefront of the world in liquid rocket research and development. Central enterprises represented by Plant 7103 and private commercial airlines represented by Blue Rocket Aerospace and Star Honor have all achieved new breakthroughs in liquid rockets. Among them, the Tianlong 2 Yao1 launch vehicle independently developed by Tianbing Technology successfully entered orbit on April 2, 2023, defeating the “curse” of the failure of the first liquid rocket worldwide; the Suzake-2 rocket is currently the largest private launch vehicle currently being developed in China, and its liquid rocket has already entered the mass production stage.