(Yicai Global) April 3 -- Shenzhen Kaifa Technology will invest up to CNY10 billion (USD1.4 billion) in China's eastern Anhui province to build an integrated circuit packaging testing and module manufacturing project, the company said in a statement yesterday that lofted its stock price [SHE:000021] to the 10 percent daily limit up this afternoon to stop trading at CNY20.52 (USD2.90).

Its wholly-owned Payton Technology Shenzhen unit signed a cooperative framework agreement with the Anhui Hefei Economic and Technological Development Zone Management Committee on the project yesterday, per the statement.

The project expected to cover an area of about 11.87 hectares will be completed in phases under an integrated plan, the statement said, but without offering details of projected construction and commissioning times, production scale and other matters.

Project company Peyton Technology is China's largest random-access memory testing and assembly company and provides chip packaging and testing services for the world 's leading dynamic random-access memory and flash memory makers such as Kingston, Peyton Technology said on its site.

Random-access memory is a type of computer memory able to be read and changed in any sequence, and usually used to archive working data and machine code. A RAM device allows data items to be written or read in nearly the same space of time regardless of their physical location inside the memory.

Dynamic random-access memory is a kind of semiconductor RAM that stores each data bit in a memory cell made up of a tiny capacitor and transistor, both generally based on metal-oxide-semiconductor technology.

Editor: Ben Armour