Shanghai Zhida hits new high on Saudi Arabia deal

Shanghai Zhida Technology Development Co

01/12/2025 02:51

** Shares of Shanghai Zhida Technology Development 2650.HK climb 3.4% to HK$226.40, their highest level since debut on Oct 10

** Set for sixth consecutive session of gains

** Chinese smart home EV chargers producer said it struck a more than 100 mln yuan ($14.14 mln) EV charger sales contract with Saudi Controls Ltd in Saudi Arabia to supply AC, DC chargers in the next five years

** "This significant cooperation marks a strategic move for the company in Saudi Arabia and broader Middle East market" - co

** Shanghai Zhida shares up 238.3% from offer price of HK$66.92 apiece

($1 = 7.0744 Chinese yuan renminbi)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))