(Yicai Global) Aug. 3 -- China’s largest architectural glass firm CSG Holding’s share price hit the exchange-imposed limit today on the news that it has signed a five-year photovoltaic glass supply contract worth up to CNY6.5 billion (USD931.5 million) with solar giant Longi Green Energy Technology.

Shares in Shenzhen-based CSG [SHE:000012] soared 9.93 percent to trade at CNY6.64 (USD0.95) this afternoon, a six-month high. Longi’s stock [SHA:601012] rose to an all-time high of CNY59.89 (USD8.58) during the day, before settling to trade around CNY58.11 in the afternoon, up 2.31 percent.

The value of the deal is equivalent to 12 percent of CSG’s 2019 revenue and 24 percent of Longi’s outgoings that year, both firms said in a statement. The exact quantities and unit prices were not disclosed, but orders will be placed on a monthly basis, they said.

Longi supplies around 40 percent of the world’s monocrystalline silicon wafers. The Xi’an, Shaanxi province-based firm is looking to lift its annual production capacity to 30 gigawatts next year and therefore is in need of additional raw material suppliers.

Editor: Kim Taylor