(Yicai Global) March 22 -- Shares of China's JPT Opto-Electronics jumped after it said it will become a laser equipment supplier for battery titan Contemporary Amperex Technology.

JPT's stock price [SHA: 688025] rose by 4.1 percent to CNY50.68 (USD8). The shares are still almost 30 percent down in value this year.

CATL has selected JPT as its supplier of laser devices that will be used to cut electrode pole pieces for battery cells, the Shenzhen-based seller said in a statement yesterday, citing a notice from the Fujian province-based manufacturer. The value of orders will depend on the scale of the biggest global battery maker's expansion.

Becoming a designated supplier for CATL is an important achievement for JPT amid its exploration of a new market and it should improve JPT's positioning in the field of laser devices used in the battery industry, said the firm. JPT will complete testing the product to comply with the buyer's requirements, it added.

JPT produces optical devices, lasers, and intelligent equipment, and has renowned customers in Asia, North America, and Europe, according to its website.

Editor: Emmi Laine, Xiao Yi