Guangdong Songfa Ceramics' (SHA:603268) unit, Hengli Shipbuilding (Dalian), signed a shipbuilding contract worth between $70 million and $100 million with a European shipowner, according to a Shanghai bourse on Tuesday.

Hengli will build one cape-size bulk carrier and will deliver it by the third quarter of 2027.

The ceramic products maker's shares jumped over 3% during the afternoon trade.