(Yicai) Dec. 9 – Shares in Amsky Technology surged by the exchange-imposed limit today after the Chinese industrial printing technology and equipment supplier said it is teaming up with smart technology company Aiding on the production of 3D-printed metal shoe molds in the shoe capital of Quanzhou.

Amsky’s share price [SHE:300521] closed up 20 percent at CNY24.05 (USD3.31) The Shenzhen ChiNext Composite Index, on which Amsky’s stock is traded, closed down 0.5 percent.

Amsky will provide 3D printing equipment and key components, while Aiding, which was only set up last month, will supply printing technology solutions and be responsible for factory operations and sales, Guangzhou-based Amsky said on Dec. 6, citing the strategic co-operation framework agreement signed by the two parties on Dec. 5.

The collaboration shall be exclusively between the two parties in the Quanzhou area, and the tie-up is expected to promote the rapid entry of their shoe molds onto the market, Amsky added. Although Amsky did not forecast the expected revenue from the tie-up, it said the target for annual sales is no less than CNY200 million (USD27.4 million).

The partnership will help spur the application of the company's 3D metal printing technology and equipment sales, thereby creating greater commercial value, Amsky said.

Aiding was registered in November in Jinjiang city, one of the shoe capitals of China, which falls under the jurisdiction of Quanzhou. Well-known shoe brands based in Jinjiang or neighboring areas include Anta, Erke and Peak.

Editor: Kim Taylor