(Yicai) Dec. 18 -- Shares of L&A Design Holding soared by the exchange-imposed daily trading limit after the Chinese landscape architecture service provider said one of its units plans to buy computing servers and supporting products worth CNY435 million (USD61.2 million).

L&A [SHE: 300949] was trading up 20 percent at CNY55.44 (USD7.78) as of lunch break in Shenzhen today.

The board of L&A approved Altron Engine Data Services’ purchase of 128 high-performance computing servers equipped with graphic processing units from US chip giant Nvidia and supporting software and hardware from Runxin Supply Chain, the Shenzhen-based parent firm announced yesterday. The CNY435 million needed for the acquisition will be taken from L&A’s funds and loans from financial institutions.

The purchase of high-performance computing servers aims to boost L&A’s foray into the intelligent computing industry to promote the development of artificial intelligence-generated content applications by integrating AI software and hardware, the company added.

L&A also warned that the purchase agreement has risks, such as unclear delivery deadlines, uncertain transaction prices, insufficient funds, compliance with laws, regulations, and police, capabilities in fulfilling the contract, production capacity, market environment, and exchange rates.

Meanwhile, L&A has not yet obtained the technological patents and corresponding operating qualifications needed to start the intelligent computing business, the firm pointed out.

Editor: Futura Costaglione