(Yicai Global) March 8 -- Orbita Aerospace Science and Technology's stock rose after the Chinese integrated circuit designer said it has begun an CNY808 million (USD116 million) project to develop aerospace chip and computer products.

Shares of Orbita [SHE: 300053] finished 3.7 percent higher at CNY9.15 (USD1.31) today, after opening up by as much as 7.1 percent.

The five-year project aims to develop a new generation system-on-chip integrated circuits for satellites, spacecraft, and planes, Orbita said late yesterday. It will mainly use the chips to create three types of satellite platform computers, the Zhuhai-based company added.

Orbita plans to develop five kinds of chip, including for navigation and communication, master control, artificial intelligence, and general computing, the firm said, noting that each type will have multiple quality levels to meet the needs of product performance across fields.

The demand for SOC chips in China's aerospace sector has soared with the progress of major Chinese projects such the BeiDou satellite navigation system, a space station, and large civil aircraft, Orbita noted. The mass use of low-orbit satellites has also increased the demand for low-cost chips and platform computers, it pointed out.

The project includes developing three types of computers for aerospace equipment based on the five chips, including an onboard image processing platform computer and a highly reliable satellite platform computer.

As a China-based supplier of core components and parts for the aerospace industry, the firm’s latest project will help promote the localization and technological upgrading of aerospace chips and improve the industrial chain, Orbita added.

Editor: Martin Kadiev