(Yicai Global) Dec. 7 -- Power automation equipment maker HNAC Technology jumped this morning after the company announced that its unit has signed a CNY530 Million (USD81 million) equipment supply deal with Chinese power battery giant Contemporary Amperex Technology.

HNAC’s wholly-owned Jingshi Electromechanical Technology subsidiary penned the three-year framework purchasing agreement with CATL to supply battery-making equipment, the parent said today. No other details of the supply deal were forthcoming beyond the ballpark value of the contract, which equals 36.83 percent of the company’s last-year revenue.

HNAC [SHE:300490] traded at CNY10.42 (USD1.59), up 3.27 percent in midafternoon after falling off from morning rises of up to 8 percent.

The transaction is expected to bring more brand name recognition to the Changsha, Hunan province-based company along with financial gains, the announcement added.

HNAC holds the largest market share in power station and pumping station automation control equipment in China, according to its website.

Editor: Ben Armour, Xiao Yi