Shanghai Fudan Microelectronics Group (HKG:1385) said it revised upwards the annual caps of its sales agreement with Fudan Communication, according to a Hong Kong bourse filing Monday.

Shares of the integrated circuits company jumped over 8% in recent Tuesday trade.

The company had an annual cap of 280 million yuan on the distribution of reconfigurable devices and memory integrated circuit chips, which was revised to 520 million yuan per year for 2025 through 2027 after assessing market demand.

The revision is subject to shareholder approval.

Separately, the company said it expects to spend up to 358.7 million yuan to purchase wafers, masks, and materials from Shanghai Huahong Group.

Meanwhile, the company said it had hired Fudan University to conduct research and development on ultra-large scale FPGA layout, according to a separate Hong Kong bourse filing Monday.

An FPGA, or field programmable gate array, is a type of integrated circuit that can be configured by a customer or designer after manufacturing.

Shanghai Fudan said it will pay 3.5 million yuan to Fudan University to cover research until Dec. 31, 2026.