MDK Opto Electronic (美迪凯), a Chinese precision optical component manufacturer, said its subsidiary had secured a three-year image sensor wafer processing contract from Toppan SMIC Electronics, boosting its stock trade, Chinese press reported.

Source: Yicai

The subsidiary, Unit MDK Optical Semiconductor, will provide optical path system processing services on image sensor wafers supplied by its Shanghai-based Toppan SMIC Electronics, according to a Yicai report on January 18. No financial details were given.

Toppan SMIC Electronics is 70 percent owned by Toppan Printing, a leading Japanese color filter technology provider, while Chinese chipmaker Semiconductor Manufacturing International Corporation holds the remaining equity.

MDK was established in August 2010 in Hangzhou, eastern China’s Zhejiang Province. According to its website, the company is mainly engaged in the research, manufacturing, and sales of various optoelectronics and optical semiconductor products. It was listed on the Shanghai Stock Exchange in March 2021.

Shares in MDK Opto Electronic surged as much as 11 percent today after the news came out. MDK’s share price [SHA:688079] traded up 6.12 percent at CNY15.96 (USD2.50) on Tuesday. It hit CNY16.80, a four-month high earlier in the day, said the Yichai’s report.