(Yicai Global) March 24 -- Shares in Shenzhen Geoway, a Chinese electronics manufacturer at risk of a forced delisting, hit the daily limit up this morning after the firm secured backing from tech giant Tencent to build a theme park using its QQfamily characters.

Shenzhen Geoway stock [SHA:600462] started the day up 4.65 percent at CNY1.35 (19 US cents) and have remained there since. Movements in Shanghai-listed firms labeled as 'special treatment,' those at risk of forced delisting, can only move 5 percent each way in a single day.

Tencent Technology Shenzhen agreed to Geoway designing, building and operating a QQfamily-themed indoor park covering more than 10,000 square meters, Geoway said in a statement yesterday. The venue would focus on gaming, sports competitions, artistic performances and culture.

The authorization, which gives Geoway the rights to six cartoon characters created by Tencent and is the first deal of its kind, is not exclusive, the statement added. The pair will finalize details, including royalty payments, in a separate agreement.

Given Geoway's tumultuous financial standing, the Shanghai Securities Exchange yesterday launched an inquiry into whether the firm can afford to build the park.

Editor: James Boynton