(Yicai Global) Jan. 13 -- Shares of Andon Health, a maker of home-use electronic medical devices, soared by the exchange-imposed trading limit after the Chinese firm said its US unit received orders for Covid-19 test kits from two US states worth USD333 million.

Andon [SHE: 002432] rose 10 percent today to a record CNY68.44 (USD10.76). The shares have skyrocketed over 900 percent since November when the US Food and Drug Administration approved the firm’s home-use Covid-19 detection kit for emergency use.

The unit, iHealth Labs, signed a USD120 million deal with New York State on Jan. 10, its Tianjin-based parent company said in a statement yesterday. The test kits will be delivered by March 6. The unit received another USD65.3 million order from the state on Dec. 21, bringing the total to USD185 million, equal to half of Andon’s main business revenue in 2020.

IHealth Labs also penned USD148 million of deals with the Commonwealth of Massachusetts and the state’s executive office of health and human services on Dec. 3 and Jan. 5, per the statement.

Andon said on Jan. 6 that a joint study by the FDA and the US National Institutes of Health proved that its Covid-19 test can detect the fast-spreading omicron variant.

Editor: Futura Costaglione