(Yicai Global) July 17 -- Shares in Unistrong Science & Technology have risen this afternoon after the firm announced that it would use China's Beidou Navigation Satellite technology to enhance the infrastructure and operability of the nation's vast rail network.
Its share price [SHE:002383] was up 1.61 percent at CNY10.72 (USD1.56) as of 1.50 p.m.
The Beijing-based firm will join hands with a computer research institute under the China Academy of Railway Science to create new technologies and applications for Beidou, the equivalent to the United States' Global Positioning System, or GPS.
Beidou launched its first satellite in 2000 and sent its third-generation equipment into orbit in 2015. It used the third-gen gear to offer planet-wide services at the end of last year and expects the project to complete, with 35 satellites in orbit, 2020.