(Yicai Global) April 19 -- Shares of Suzhou Secote Precision Electronic rose after the Chinese automated equipment and system integration solution provider said it plans to invest CNY2.5 billion (USD363.5 million) to build a plant for testing equipment used in the production of semiconductor wafers, lithium-ion batteries, and consumer electronics.

Secote Precision Electronic [SHA: 603283] ended 2.5 percent higher at CNY49.30 (USD7.15) today, after earlier jumping by as much as 5.4 percent. Its stock has surged 252 percent over the past 12 months.

The project will be located in the Nanxun Economic Development Zone in China's eastern Zhejiang province, Secote Precision Electronic announced late yesterday, without disclosing further details, such as a construction schedule and the factory's capacity.

Secote Precision Electronic's net profit soared 71 percent to CNY307 million (USD44.6 million) in the 12 months ended Dec. 31 from the year before, the Suzhou-based firm said last month. Revenue jumped 26.4 percent to CNY2.9 billion thanks to strong product demand.

Income from consumer electronics was CNY2.5 billion, with semiconductors contributing CNY291 million and new energy equipment CNY180 million, according to the company.

Secote Precision Electronic's main clients are Apple and the US tech giant's industrial chain partners, it said. Its overseas new energy clients include Nidec and Murata Energy Device Wuxi, while Sumco, SK Siltron, and Samsung are among its semiconductor clients, it added.

Editor: Martin Kadiev