(Yicai Global) June 13 -- Shares in Chinese display maker Triumph Science & Technology have surged by the 10 percent daily limit today after unveiling plans to make more ultra-large touchscreen modules to meet a rise in demand from smart city builders.

Its share price [SHA:600552] soared to CNY5.34 (77 US cents) at the market open and has remained there since.

The firm plans to spend CNY87.6 million (USD12.7 million) to build two production lines in Chizhou in its home province of Anhui, its parent said in a statement yesterday. One will make 230,000 touch modules between 20 inches and 55 inches each year, and the other will make 70,000 screens sized between 55 and 100 inches, the statement added, saying production can be tailored to customer needs and should begin within 12 months.

Only a few companies in China are able to produce touch modules for ultra-large screens, and demand is likely to rise as more and more cities look to become smart cities, according to the statement.

Triumph announced the same day that it would invest CNY55.5 million in Huangshan, also in Anhui province, to build a production line for mobile phone covers. The facility will produce about 30 million 5.5 inch to 6.5 inch shells which will be used for fifth-generation mobile phones.

Editor: James Boynton