(Yicai Global) Aug. 17 -- China's Aohai Technology, which produces one-tenth of the world's handset chargers, jumped by the upper limit on its first trading day on the Shenzhen Stock Exchange's SME Board.

The company's stock price [SHE:002993] surged 44 percent to CNY38.71 (USD5.60) on the small and medium-sized enterprise board.

Dongguan-based Aohai expected to raise CNY1.2 billion (USD175 million) via the share sale to build wireless charging and smart fast charging projects.

Founded in 2012, Aohai counts Huawei Technologies, Xiaomi and Oppo Mobile Telecommunications as some of its clients.

Editor: Emmi Laine