Shares of Shanghai Petrochemical have surged more than 9% following a major technical achievement.

The stock was up 8.77% at the time of writing, trading at HK$1.24 with a turnover of HK$51.46 million.

The rally is driven by news that the company, in collaboration with the Shanghai Research Institute of Petrochemical Technology, has successfully mastered the key technology for wet-process T1000-grade high-performance carbon fiber and achieved mass production.

This milestone marks a significant breakthrough in the high-performance carbon fiber sector.

The advanced material has applications in high-end and future industries such as aerospace, embodied artificial intelligence, and the low-altitude economy.

It is expected to provide core strategic material support for critical development areas.

The high-performance carbon fiber produced is a 12K small-tow type, meaning each tow consists of 12,000 individual filaments.

Each filament is about one-tenth the diameter of a human hair, with a single tow tensile strength exceeding 6.5 gigapascals and a tensile modulus over 300 gigapascals.

This strength is equivalent to being able to pull a medium-sized truck weighing approximately 10 tonnes.