(Yicai) Nov. 22 -- Shares of Techmation surged by their daily trading limit after the Chinese plastic machinery automation products maker confirmed its Italian subsidiary supplies parts to nuclear fusion devices.

Techmation [SHA: 603015] jumped 10 percent to CNY11.68 (USD1.61) a share as of 1.50 p.m. in Shanghai today. Boosted by speculation of controlled nuclear fusion among investors, the stock has soared by the exchange-imposed daily trading limit for four straight days, rising 47 percent and returning to its highest since early July last year.

Equipaggiamenti Elettronici Industriali provides nuclear fusion devices with dynamic power solutions, Techmation said late yesterday to clarify the shares' recent activity. The unit's revenue will likely only account for about 2 percent of the parent firm's total this year, it added, without disclosing further details.

EEI is a professional power conversion technology developer and products supplier with a history of over 45 years, maintaining technological cooperation with the European Organization for Nuclear Research for years, an executive of Techmation said on the Shanghai bourse's investor interaction platform in early December last year. Its products are core parts applied on nuclear fusion reactors and devices used to generate high-intensity magnetic fields, the person added.

Ningbo-based Techmation took over EEI with a 51 percent stake in May 2016.

Editor: Martin Kadiev