Hu An Cable (KI3.SG) is +5.3% at $0.395 as volume spikes to 8.4 million shares, enjoying renewed interest after the China-based wire & cable manufacturer updated shareholders with a positive take on China’s commitment to upgrading its rural power grids.

Hu An says it is “poised to benefit from China investing RMB200 billion in its rural power grids between 2010 and 2012.”

The company’s share price has been shaking off losses since its TDR listing in late October, and is up 8.7% to Friday’s close since Dec 22 announcing plans to triple copper rod capacity with a new plant.

Separately, the firm also says it has so far spent 54.6% of the proceeds from its TDR listing on new land, construction of workshops and machinery, which will also inspire confidence it is positioning itself well to benefit from expected robust Chinese demand.

Near-term resistance likely at October’s $0.435 high.