Henan Pinggao Electric wins State Grid contracts worth 1.369 bn yuan

Henan Pinggao Electric Co., Ltd. (Pinggao Electric) and its subsidiaries have announced successful bids in two procurement rounds by State Grid Corporation of China for 2025. The total bid amount is approximately 1.369 billion yuan, representing 11.04% of the company's 2024 operating revenue.

In the 60th batch of procurement for substation equipment, Pinggao Electric and its subsidiaries, including Henan Pingzhi High Voltage Switch Co., Ltd., Shanghai Pinggao Tianling Switch Co., Ltd., Tianjin Pinggao Smart Electric Co., Ltd., Pinggao Group Weihai High Voltage Electric Co., Ltd., Henan Pinggao General Electric Co., Ltd., and joint venture Pinggao Toshiba (Langfang) Arrester Co., Ltd., secured 31 packages. The combined value for these packages is 1,346.73 million yuan, with products including combined electrical apparatus, circuit breakers, disconnectors, arresters, transformers, and switchgear.

Additionally, in the 61st batch of single-source procurement for substation equipment, the company and its subsidiaries won 17 packages totaling 22.3 million yuan for combined electrical apparatus and switchgear. The company cautions that formal contracts are yet to be signed, and delivery times are subject to final contract terms, creating some uncertainty regarding the impact on current year performance.