Pinggao Electric wins 1.45bn yuan contracts from State Grid

Henan Pinggao Electric won bids totaling approximately 1.45 billion yuan from State Grid Corporation of China, representing 11.69% of the company's 2024 operating revenue.

The largest contract, worth 1.37 billion yuan across 28 packages, covers State Grid's 2025 procurement of power transmission and transformation equipment including circuit breakers, disconnectors, and switchgear.

Additional wins include 56.65 million yuan for distribution network materials and 24.13 million yuan for transmission equipment through single-source acquisition.