CIDI-NEW (ASX: 03881) shares surged more than 18% in late trading, extending a two-day rally to over 60%. At the time of writing, shares were up 14.68% to HK$26.72, with a turnover of HK$259 million.

The catalyst for the move is a strategic cooperation agreement formally signed on June 17 between the company and General Consulting, a wholly-owned enterprise of China General Technology Group.

This partnership signifies a new phase of deepened collaboration between an artificial intelligence enterprise and a major state-owned industrial platform. The two parties will jointly build an integrated innovation ecosystem of technology, industry, and capital, focusing on smart mining, intelligent logistics, capital coordination, and global expansion.

It is also noteworthy that on June 16, a delegation from the Saudi Arabian Mining Company (Maaden) visited the firm for discussions. The talks centered on unmanned transport in mining areas, digital mine construction, and global cooperation, exploring the application and development opportunities for smart mining technology in global scenarios.

Maaden is a leading national-level mining enterprise in Saudi Arabia and a key implementing entity for the country's "Vision 2030" strategy.