(Yicai) May 10 -- GreatStar Industrial’s shares climbed after the Chinese maker of hand and power tools said a large US retailer had placed an order worth tens of millions of US dollars.

GreatStar [SHE: 002444] finished 4.3 percent higher at CNY27.65 (USD3.79) a share in Shenzhen today, after earlier gaining by as much as 5.2 percent.

The US retailer is a Fortune Global 500 company and already one of GreatStar’s top five clients, the Hangzhou-based manufacturer said yesterday. Over the next three years it will buy 20-volt cordless lithium battery-powered tools and accessories for its thousands of stores in North America.

Income from the order is expected to be at least USD30 million a year, equal to more than a 10th of the firm’s revenue from power tool sales last year, marking a decisive breakthrough for its electric tools business, GreatStar said.

This year’s revenue from the order is projected to be as much as USD40 million, less than 3 percent of 2023’s operating revenue, so its impact on earnings will be relatively small in 2024, the firm said.

Editor: Futura Costaglione