Sugon soars 44% on first trading day
Print Edition
SUGON Information Industry Co, the first domestically listed high-performance computing company, jumped 44 percent daily cap on its first trading day on the Shanghai Stock Exchange yesterday.
HPC, which covers super computers, chips and other core technologies, represents a country’s national information technology development and is closely related to national cyber security, experts said.
“Sugon’s HPC technologies and products are used in many key industries and even for national information security,” Sugon said in a statement.
Sugon is now the world’s No. 6 and Asia’s No. 1 HPC vendor, according to International Data Corp, a US-based research firm.
The company aims to raise 400 million yuan through its Shanghai listing and invest into developing big data, servers and cloud-computing services for government bureaus and enterprises.
Its shares closed at 7.62 yuan (US$1.25) yesterday. The target price of Sugon is 18-20 yuan, according to securities firms like Shenyin & Wanguo Securities.
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