(Yicai Global) June 17 -- Shares in Henan Ancai Hi-Tech soared by the exchange-imposed limit today after the Chinese photovoltaic glassmaker said it has won an order worth CNY2.5 billion (USD378 million) from renewable energy giant JA Solar.

Ancai Hi-Tech’s share price [SHA:600207] closed up 10 percent at CNY6.47 (USD0.97).

Ancai will supply 89.1 million square meters of PV glass to Beijing-based JA Solar and its subsidiaries over a three-year period from this month to May 2025, the Anyang, central Henan province-based company said yesterday.

Based on the current market price of PV glass, the project is worth around CNY2.5 billion (USD373 million), making up almost 76 percent of Ancai’s audited revenue last year.

Ancai has a number of new PV glass factories that have either just started production or will soon be completed. The deal with JA Solar will help use up the extra capacity and boost sales of its large-size and thin PV glass, the company added.

Editor: Kim Taylor