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(Yicai Global) March 31 -- Shares of BYD Electronic International soared after the Chinese consumer electronics maker said it has expanded the scope of its partnership with US chip giant Nvidia.
BYD Electronic [HKG: 0285] finished 7.7 percent up at HKD24.40 (USD3.11) per share today, after earlier surging by as much as 11.3 percent.
In addition to game graphics, BYD Electronic and Nvidia will also cooperate on servers and intelligent driving, the Hong Kong-based company recently told investors.
BYD Electronic is Nvidia’s contract manufacturer in the server and smart driving fields, which account for only a small percentage of the firm’s total business, it added, noting that this will increase given their deepening partnership.
BYD Electronic was spun off from Shenzhen-based car and battery maker BYD in 2007 to make cell phone components and printed circuit boards.
Credit Suisse said earlier in a research note that it foresees a double-digit gain in BYD Electronic’s earnings this year thanks to quick growth in the auto and new smart products sectors and the number of its North American clients, as well as the recovery in the Android cellphone market. The investment bank raised its estimate of the firm’s earnings per share for this year by 4 percent.
Editors: Shi Yi, Futura Costaglione