(Yicai Global) May 10 -- Shares of OMH Science Group soared by the daily limit after China’s biggest smart logistics equipment provider announced a long-term deal to supply intelligent logistics and warehousing solutions to battery giant Contemporary Amperex Technology.

OMH [SHE: 300486] surged 20 percent, the stock’s exchange-imposed trading limit, to finish at CNY9.26 (USD1.38) today, giving it a market value of nearly CNY3.8 billion (USD566 million).

Signing CATL as a new major client will boost the competitiveness of OHM’s products in the new energy vehicle battery sector, the Taiyuan-based company said in a statement late yesterday.

The pair have signed a framework supply agreement, OMH said, without disclosing the type of equipment or solutions CATL may buy under the deal, or any projected earnings from it.

OMH designs, makes, sells, and installs smart systems and equipment, according to its website. Logistics and storage systems, three-dimensional parking systems, and vehicle painting systems are among its main products.

Editor: Futura Costaglione