Wasion Holdings Subsidiaries Win HK$547.69 million Contracts from Southern Grid 15 July 2024
[Press release] For immediate release
Wasion Holdings Subsidiaries Win HK$547.69 million Contracts
from Southern Grid
Ranked Top in Terms of Contract Value on Metering Products
(Hong Kong, 15 July 2024) Wasion Holdings Limited (the "Company", "Wasion" or the "Group"; stock code: 3393.HK), China's leading provider of energy measurement equipment and energy-saving solutions, is pleased to announce that Wasion Group Limited, a subsidiary of the Group, won contracts in the first framework tender on metering products in 2024 from China Southern Power Grid Co., Ltd. (''Southern Grid'') with a total value of approximately RMB198.74 million (approximately HK$213.29 million). At the same time, Willfar Information Technology Company Limited ("Willfar Information"), another of the Group's subsidiaries, won contracts in the same tender with a total value of approximately RMB233.43 million (approximately HK$250.52 million). The Group ranked top in this framework tender, securing contracts with a total value of around RMB432.17 million (HK$463.81 million).
Additionally, Willfar Information won contracts in the smart distribution network gateway framework procurement project for 2024, with a total value of approximately RMB78.16 million (approximately HK$83.88 million). In summary, the Group's total contract value in this Southern Grid tender project is approximately RMB510.33 million (approximately HK$
547.69 million). The tender results successfully demonstrated the Group's competitive strengths in the metering and electric power distribution fields and emphasized its practical strategy of providing high-quality products and services to customers in key industries.
Mr. Ji Wei, Chairman of the Group said: "Under the implementation of industry policies and guidance, the distribution network, as the key to the high-quality development of the power grid, needs to strive to improve its reliability, enhance its carrying capacity, and strengthen its active operation and maintenance. In the accelerated process of power grid upgrading, the Group has been closely following the national strategy, aiming to lead the industry's successful transformation of the energy and power structure with high-quality products and services in the fields of power transmission, distribution, and metering. As the key customers of the Group, we will leverage this outstanding performance as a catalyst to support the digitalization and intelligent construction of the power grid, thereby achieving high-quality development."
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Wasion Holdings Subsidiaries Win HK$547.69 million Contracts from Southern Grid 15 July 2024
About Wasion Holdings Limited
Wasion Holdings is the leading provider of energy measurement equipment and energy saving solutions in the PRC. Its products and services include Power Advanced Metering Infrastructure (Power AMI), Communication and Fluid Advanced Metering Infrastructure (Communication and Fluid AMI), and Advanced Distribution Operations (ADO) (Smart Distribution Solutions (SDS), Smart Distribution Devices (SDD), and Energy Efficiency Solutions (EES). The Group's current clients include power grid companies, water, gas and heat providers, and other major industrial and commercial users. Its products have major market share in the PRC and are exported worldwide to Asia, Africa, Europe and the United States. Its research center and laboratory have been certified as national grade and meet international standards. Wasion's R&D capabilities in smart metering and energy saving solutions are renowned within the industry.
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