Tianyong Engineering wins $7.3M contract

Shanghai Tianyong Engineering (SSE:603895) announced that it has received a winning bid notification for a project from Jiangsu Zhongzhiyang Investment Management Co., Ltd. The project involves the 2024 Jintan H4J15 assembly line with an annual capacity of 540,000 units for the whole line renovation project. Jiangsu Jiafeng Engineering Consulting Co., Ltd was the tender agent. The total contract value is RMB 52 million, with the first phase valued at RMB 31 million and the second phase at RMB 21 million. Tianyong Engineering says the win will positively impact the company's operating results. However, investors are cautioned about potential risks.