TBEA secures major Saudi contract, reports strong H1 2025 performance

TBEA Co., Ltd. secured a major contract from Saudi Electricity Company (SEC) for ultra-high voltage and high-voltage power transformers and reactors, valued at approximately SAR 16.4 bn. The framework agreement, spanning seven years, will involve local manufacturing in Saudi Arabia after an initial supply from TBEA’s Chinese factories. This strategic win expands TBEA’s international market presence.

In a move to optimize its financing structure, TBEA adjusted the financing plan for its Amalia Hydropower Project. The updated plan involves MinSheng New Creation (Tianjin) Equipment Leasing Co., Ltd. as the lessor, providing up to RMB 14.6 bn in financing. This adjustment is expected to reduce financing costs without increasing TBEA’s overall guarantee obligations.

For the first half of 2025, TBEA reported a total operating income of RMB 48.35 bn, a 1.11% increase year-over-year, with net profit attributable to shareholders reaching RMB 3.18 bn, up 5.00%. The company also achieved a total power generation of 1,501,566.89 MWh across its coal, wind, and solar power plants during this period.