(Yicai Global) March 21 -- Shares in C*Core Tech surged to an all-time high today after the Chinese integrated circuit designer said it has conducted successful internal tests of a new generation of high-performance edge computing chip that it developed.

C*Core Tech’s share price [SHA:688262] closed up 7.8 percent at CNY63.93 (USD9.30) today. Earlier in the day it surged by 10 percent to hit CNY65.28 (USD9.49), the highest since it went public in January last year.

CCP1080T can reach an operating frequency of 1.8 gigahertz under normal conditions and can be applied across a wide range of devices, from security gateways, cipher machines and routers to firewalls, the Suzhou, eastern Jiangsu province-based firm said yesterday.

The new chip, whose IP is owned by C*Core Tech, enriches the company’s product portfolio in high-performance edge computing and will have a positive impact on the firm’s performance and market share, it added.

Edge computing splits large computing services that are usually fully handled by a central node into smaller and easier-to-manage parts. These parts are then distributed to various edge nodes for handling, which helps speed up data transfers with low latency.

Editor: Kim Taylor