(Yicai Global) Nov. 21 -- Shares in Chinese printer Hongbo surged this morning after it revealed plans last night to develop blockchain lottery technology with a local partner in Cambodia.

Its stock [SHE:002229] was up 6.6 percent at CNY7.27 (USD1.03) as of 10.21 a.m., after peaking at CNY7.50 earlier in the morning.

The Fujian province-based firm has penned an exclusive deal with a Cambodian firm to combine blockchain technology with the lottery business, according to the statement. It hopes the move, focusing on issuing, sales and draws and prize issuance, will improve the traceability of lottery tickets and make draws fairer.