(Yicai Global) Oct. 22 -- Hangke Technology’s stock jumped after the Chinese maker of battery testing equipment said it will invest CNY1.3 billion (USD209 million) on a new base to produce back-end devices for lithium batteries.

Shares of Hangke Technology [SHA:688006] ended today 1.6 percent higher at CNY90.40 (USD14.14) apiece, after they earlier jumped by as much as 4.5 percent.

The project includes the construction of a 100,000-square-meter smart production workshop for charging and discharging devices for lithium batteries and the installation of automated production gear and management systems, the Hangzhou-based firm said yesterday.

Expected to be completed in three years, the project will help Hangke give full play to its advantages in production technologies and capacities in the field of lithium batteriy back-end devices to meet the product upgrade needs of downstream customers, the firm said.

It will also greatly improve the automation and intelligence levels of Hangke in the processing and manufacturing links, the company said, without disclosing the project’s annual capacity.

Hangke’s clients include leading domestic and international battery makers such as Samsung SDI, LG, SK Innovation, Contemporary Amperex Technology, BYD, and Gotion Hi-Tech, according to the company's website.

Editor: Futura Costaglione