(Yicai Global) Nov. 18 -- SinoDaan’s stock price soared as much as 10 percent today on the news that the Chinese engineering consultancy firm has signed an agreement with state-owned carrier China Mobile to use fifth-generation network technologies to build smart construction sites.

SinoDaan [SHE:300635] closed up 8.2 percent at CNY26.08 (USD4) today, despite the Shenzhen Stock Exchange’s ChiNext Board, on which it is listed, declining by 1.41 percent. It had earlier reached CNY26.50.

The engineering specialist has inked a 5G plus strategic partnership with China Mobile’s Guangzhou division that will enable it to apply 5G technologies to help with the management and operation of its sites, SinoDaan said today.

The two parties will set up a smart management platform that uses not just 5G, just also Big Data, augmented and virtual reality, facial recognition, the Internet of Things, cloud computing, artificial intelligence, wireless communications and other new technologies, the Guangzhou-based firm said.

The aim is to help SinoDaan monitor both people and goods as well as implement real-time smart supervision of energy consumption, operations, assets, security and the surrounding area.

Together, the two parties will jointly research the core applications of 5G technologies and build an industrial park for 5G applications in Guangzhou, it added.

Editor: Kim Taylor