(Yicai) April 3 -- Shares of RoboTechnik Intelligent Technology jumped after the Chinese supplier of automated production equipment said its subsidiary has signed a supply contract with a Nasdaq-listed company that is potentially worth USD35.7 million.

After surging by as much as 16 percent earlier today, RoboTechnik’s shares [SHE: 300757] closed up by a little over 11 percent at CNY434 (USD63.07) each. The stock has almost doubled in value since the end of last year.

The contract pertains to mass production of coupling devices and services for pluggable silicon photonics technology, the Suzhou-based company announced late yesterday, and it could be worth the equivalent of 26 percent of RoboTechnik’s audited revenue for last year.

RoboTechnik did not disclose the name of the buyer, referring to it only as “Company F” and stating that it is a Nasdaq-listed business with good creditworthiness and strong performance.

If all goes smoothly, RoboTechnik expects the deal to positively impact its earnings this year, strengthen the firm’s brand visibility and market competitiveness, and help consolidate its market position and core competitive edge.

As well as high-end automation equipment, RoboTechnik develops intelligent manufacturing software based on industrial internet technology.

Editor: Tom Litting