(Yicai Global) May 22 -- Shares of Suzhou Recodeal Interconnect System jumped after the Chinese maker of connection systems said its holding unit had received a USD106 million order from a US customer. 

After gaining as much as 6.6 percent in the morning trading session, Recodeal [SHA: 688800] closed 2.4 percent up at CNY53.02 (USD7.54) a share in Shanghai today.

Recodeal Energy will provide a well-known US supplier of solar power generation tracking systems, which cannot be named due to a confidentiality agreement, with photovoltaic connectors and structural components, its parent firm said late yesterday, citing a recently penned contract. The unit will fulfill the order within two years of the effective date of the contract, it added.

The order is of key significance for Recodeal development in the auto, wind power, PV, hydrogen, energy storage, and charging facilities international markets, it said. The deal will also enrich Recodeal’s product types, refine its industry chain distribution, and further enhance its comprehensive competitiveness, the firm added.

Founded in January 2006, Recodeal mainly designs, develops, and produces connection systems widely used in data communications, electric vehicles, and industrial controls as well as in medical, rail transit, and defense equipment.

Recodeal’s net profit dropped 27 percent to CNY41 million (USD5.8 million) in the three months ended March 31 from a year earlier, the Jiangsu province-based firm said in its first-quarter earnings report released on April 28. Revenue fell 9.2 percent to CNY329 million (USD46.9 million).

Editor: Martin Kadiev