Subsidiaries Win Two More Contracts from State Grid - Totaling Approximately HK$156 Million

Wasion Holdings Subsidiaries Win Two More Contracts from State Grid Totaling Approximately HK$156 Million Maintains Leading Position in Winning the Volume and Total Contract Value 30 August 2024

[Press release] For immediate release

Wasion Holdings Subsidiaries Win Two More Contracts from State Grid

Totaling Approximately HK$156 Million

***

Maintains Leading Position in Winning the Volume and Total Contract

Value

(Hong Kong, 30 Aug 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 second tender on procurement of metering equipment in 2024 from the State Grid Corporation of China ("State Grid'') for approximately 359,000 units of smart meters with a contract value of approximately RMB116 million (approximately HK$127 million). In addition, Willfar Information Technology Company Limited, a subsidiary of the Company, has also won contracts for approximately 18,000 units of data collection terminals and concentrators with a contract value of approximately RMB26.13 million (approximately HK$28.70 million).

The Group maintains a leading position in terms of volume and total contract sum won in this tender. Currently, the Group has won contracts with an accumulated value of approximately RMB554 million (approximately HK$602 million) in the State Grid's centralized bidding in 2024.

Mr. Ji Wei, Chairman of the Group said: "This win recognizes the Group's leading position in China's energy measurement and energy-saving industry. It maintains its prominent market share in the domestic power grid sector. The centralized tenders of State Grid and Southern Grid will remain the main source of revenue for the Group. We will seize opportunities from green low-carbon transformation and digital power grid construction, as well as the ongoing investments by State Grid and Southern Power Grid in the digital smart upgrading of the power grid. We will also leverage its extensive experience and technical reserves in power IoT to actively align with the national goals and plans for constructing new power systems. This positions the Group to continuously reap benefits throughout the industry's high prosperity cycle."

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Wasion Holdings Subsidiaries Win Two More Contracts from State Grid Totaling Approximately HK$156 Million Maintains Leading Position in Winning the Volume and Total Contract Value 30 August 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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