(Yicai Global) June 2 -- Anli Material Technology’s shares surged after the Chinese maker of synthetic leather and composite materials passed reviews yesterday to become a supplier to Nike brand Converse. It qualified to provide footwear materials to Nike in March.

Anli Material [SHE: 300218] closed 5.6 percent higher today at CNY10.13 (USD1.59), after earlier climbing as much as 14 percent. The benchmark Shenzhen Component Index fell 1.2 percent.

Supplying Converse will help boost Anli’s market share and brand awareness, the Hefei-based company said in a statement late yesterday, but the US shoe brand is expected to make relatively small purchases this year. Anli did not provide any product supply and financial forecasts.

Converse, which Nike acquired in 2003, had sales of about USD1.8 billion last year, after selling 80 million pairs of footwear, Anli said.

Anli’s other clients also include French sports brand Decathlon and American sportswear company Columbia.

Editor: Peter Thomas