Obtained top supplier qualification of Saudi Aramco, Dalipu Holdings surges over 12%

Hong Kong-listed pipeline steel pipe manufacturer Dalipu Holdings (01921.HK) surged by over 12% at the start of trading on Wednesday, quoting at 4.39 Hong Kong dollars, with a transaction volume of about 1.08 million Hong Kong dollars, following the company's disclosure of two major business breakthroughs in the Middle East market.

The announcement from Dalipu Holdings indicated that the company has officially passed all the supplier audit procedures of the Saudi Arabian Oil Company (Saudi Aramco), becoming its "unrestricted supplier". This qualification signifies that Dalipu's products can be supplied to Saudi Aramco without any restrictions on quantity and category, representing the highest level of recognition within the oil and gas industry's supply chain access system. Earlier this year, the company had disclosed that its products passed all the trial indicators set by Saudi Aramco, and the formal approval confirms the final completion of this certification process.

At the same time, Dalipu also disclosed that it has obtained the first batch of product orders from Kuwait Oil Company (KOC) for the year 2026, with a total volume of approximately 49,000 metric tons, which is 3.6 times the order volume obtained from this customer in the same period last year, showing a significant increase in order scale and a marked enhancement in its market penetration in Kuwait.

Dalipu stated that these two breakthroughs will strategically synergize with the company's ongoing construction of the smart manufacturing base in Saudi Dammam Energy City, accelerating the implementation of local production layout in the Middle East, and helping the company seize the incremental opportunities brought about by the long-term expansion of the Middle East energy industry.