Shares of DapuStor soared to the daily trading limit after the leading Chinese provider of solid-state storage announced it secured a $515 million order, including taxes, for enterprise-grade PCIe SSDs from a major internet company.
The company’s stock closed up 20% at CNY469.20 (approximately USD69.79) per share in Shenzhen today. Since its initial public offering at CNY46.08 (around USD6.96) on April 16, the stock has seen significant growth.
The deal was finalized on August 25, with the company agreeing to deliver the enterprise-grade PCIe SSDs within 18 weeks of receiving written confirmation from both parties, as disclosed in a stock exchange filing yesterday night.
Details regarding product specifications, order volume, unit pricing, payment terms, and other key conditions have been finalized, though the company chose not to disclose additional specifics or the client’s identity to maintain confidentiality.
The transaction will be settled in US dollars. The company did not specify whether the purchaser is a domestic or international firm. Risks associated with the order include potential disruptions in fulfilling the contract due to changes in global trade policies, tariffs, or export restrictions. Nevertheless, the company emphasized that fulfilling this order will strengthen its existing partnership with the client.
The total value of this order, including taxes, represents about 153% of the firm’s projected main business revenue for 2025. Completing this deal is expected to boost future operational performance, showcase strong client trust in the company’s storage solutions, and enhance its brand presence and competitive edge in the market.
Enterprise-grade PCIe SSDs are primarily used in data centers and AI servers for tasks such as machine learning, cloud computing, big data analysis, telecommunications, and financial services. These units are designed to deliver high performance and reliability for continuous, demanding operations—distinguishing them from consumer-grade SSDs intended for personal computers.
The company stands out as one of the few Chinese manufacturers capable of integrated in-house development, including controller chips, firmware algorithms, and storage modules, allowing for large-scale shipments of data center storage equipment. Its clients and end-users include major firms such as Google, ByteDance, Tencent, Alibaba, JD.com, and DeepSeek, according to its annual financial report.