Hexing Electrical secures preliminary $128m State Grid contract for metering equipment

Hangzhou Hexing Power Technology Co., Ltd. (Hexing Electrical) has been named a recommended candidate for a preliminary winning bid in State Grid Corporation of China's 2025 fifty-third batch procurement for metering equipment. The estimated total value of the preliminary winning bid is approximately RMB 128.1639 million.

The project encompasses various categories of smart electricity meters, power consumption information collection equipment, and current transformers across ten sub-packages. Key allocations include 320,000 units of A-class single-phase smart meters valued at RMB 42.3312 million, 60,000 units of B-class three-phase smart meters worth RMB 20.0220 million, and 15,000 units of C-class three-phase smart meters totaling RMB 4.0649 million.

Additionally, Hexing Electrical secured 12,000 units of integrated smart terminals valued at RMB 29.2727 million and 22,700 units of dedicated transformer acquisition terminals worth RMB 32.4731 million. This preliminary winning bid, if finalized, is expected to positively impact the company's future operating performance without affecting its operational independence. However, the company cautions that the final contract award and delivery schedules are subject to confirmation, introducing some uncertainty.