(Yicai Global) May 21 -- Shares in New Trend International Logis-Tech surged by the exchange-imposed daily limit today after the Chinese developer of logistics software and hardware signed CNY700 million (USD108.8 million) worth of supply contracts with two major clients.

New Trend International’s stock price [SHE:300532] was trading up 5.82 percent at CNY9.46 (USD1.50) at 1:30 p.m. China time. Earlier in the day it had jumped 10 percent to reach CNY9.89.

Two subsidiaries of the country’s biggest battery maker Contemporary Amperex Technology have ordered CNY661 million worth of equipment, the Shenzhen-based firm said yesterday. It has also won the bidding to provide electric vehicle maker BYD with gear worth CNY33.17 million. No delivery timetable was given.

The two orders make up nearly 75 percent of the company’s total revenue last year, it said. Ningde, southeastern Fujian province-based CATL accounts for 71.1 percent of this and BYD 3.57 percent.

Deals with CATL have amounted to CNY1.1 billion (USD171 million) since 2018 and those with Shenzhen-based BYD to CNY216 million, it added.

Editor: Kim Taylor