(Yicai Global) May 20 -- Shares in Foshan Nationstar Optoelectronics soared by the exchange-imposed limit today after the Chinese light-emitting diode device maker said it is linking arms with tech giant Huawei Technologies to build a research and development center for intelligent photoelectric displays.
Nationstar’s share price [SHE:002449] surged 10 percent to CNY7.70 (USD1.15).
The R&D center will use Huawei’s chip, artificial intelligence and fifth-generation wireless network technologies to develop new intelligent displays, the Foshan, southern Guangdong province-based company said yesterday. No details on investment amounts, construction schedule nor shareholding ratios were given.
Nationstar was one of China’s earliest LED producers and the first to go public.
Editor: Kim Taylor