(Yicai) Aug. 29 -- Longruan Technologies’ stock price surged after the Chinese developer of software for the coal industry said it will supply intelligent mining technology to Raspadskaya, Russia's largest producer of coking coal.

Longruan [SHA: 688078] gained 7 percent to end at CNY43.87 (USD6.02) a share today. The wider Shanghai market rose 1.2 percent.

Longruan will supply Raspadskaya with tech, equipment, and related experience to develop intelligent mines, including underground mines, open-pit mines, and coal processing plants, the Beijing-based firm said in a statement yesterday.

Raspadskaya has eight underground mines, two open-pit mines, and three coal plants, and produces more than 20 million tons of coal a year, Longruan noted.

The specific terms of the deal have yet to be finalized, Longruan pointed out, adding that the partnership will help the firm create new opportunities for its international smart mine services.

Longruan uses cloud computing, big data, and Internet of Things technologies to provide industrial application software and total solutions to coal producers based on its self-developed LongRuan GIS platform. Forty of China's top 50 coal firms used Longruan's software in 2018, according to the company's 2019 listing prospectus.

Editor: Futura Costaglione