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Shares of RoboTechnik Intelligent Technology experienced a significant rise following news that its subsidiary has secured a supply agreement with a Nasdaq-listed company, potentially valued at $35.7 million.
The company’s stock saw an initial surge of up to 16 percent earlier in the day, ultimately closing with an increase of just over 11 percent at 434 yuan (approximately $63.07) per share. Since the end of last year, the stock has nearly doubled in value.
The agreement involves the mass production of coupling devices and services related to pluggable silicon photonics technology. Announced late yesterday, the contract could represent about 26 percent of the company’s audited revenue last year.
The buyer was not named directly, only identified as “Company F,” described as a Nasdaq-listed firm with solid creditworthiness and strong market performance.
If everything proceeds smoothly, the company anticipates that the deal will have a positive impact on its earnings this year, enhance its brand presence, improve market competitiveness, and help solidify its position and core advantages in the industry.
In addition to advanced automation equipment, RoboTechnik develops intelligent manufacturing software based on industrial internet technology.
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