(Yicai Global) Jan. 13 -- Shares of China's CSSC Science and Technology soared after it said the world's biggest shipbuilder China State Shipbuilding intends to inject its renewable energy assets into the steel structure manufacturer.

CSSC-STC's stock price [SHA: 600072] jumped by the daily limit of 10 percent to CNY16.12 (USD2.50) intraday. The shares are up almost a fifth over the past 12 months.

Parent CSSC plans to pour all of its wind and solar power business assets, consisting of five firms, into CSSC-STC to promote the development of its renewable energy business, the Shanghai-based engineering contractor said in a statement yesterday.

New shares will be issued to shareholders of the assets to complete the transaction, the statement added. The price will be determined after the five companies are evaluated.

The assets include firms that make equipment and operate renewable energy plants. CSIC Haizhuang Wind Power is one of them, engaging in the production of large-scale wind power generator sets and core components. Another one, Luoyang-based Sunrui Wind Turbine Blade, makes wind turbine blades.

The group has three more members. CSIC Wuhan Lingjiu Electric manufactures control systems for power generation equipment and CSSC Wind Power Development is a technology research and development platform. Moreover, there's CSIC Haiwei Xinjiang New Energy which operates the four wind farms and photovoltaic power plants that it has built across China.

Editor: Emmi Laine, Xiao Yi