Shuangliang Eco-Energy(SH:600481) Shen Zhen Shang Bao·2026-02-12 15:33Core Viewpoint - The Shanghai Stock Exchange issued a regulatory warning to Shuangliang Energy due to misleading information regarding overseas orders related to commercial aerospace, which could mislead investors [3]. Group 1: Company Orders and Financial Impact - Shuangliang Energy announced three overseas orders for a total of 12 high-efficiency heat exchangers, intended for use in the fuel production system at SpaceX's Starship launch base, highlighting the trust in its products [1]. - The total value of these orders is approximately RMB 13.92 million, accounting for about 0.11% of the company's audited revenue for 2024, indicating no significant impact on the company's financial performance [2]. - The company clarified that it is not a direct partner with SpaceX and is merely a non-exclusive indirect supplier, with future order acquisition being subject to uncertainties in the commercial aerospace sector [2]. Group 2: Regulatory Response and Company Performance - The Shanghai Stock Exchange criticized the company for not providing sufficient details about the orders, including supply methods and the limited impact on overall operations, which could mislead investors [3]. - Following regulatory pressure, the company disclosed its expected net loss for 2025 to be between RMB 780 million and RMB 1.06 billion, marking the second consecutive year of significant losses, although the loss margin has narrowed compared to the previous year [4].