Henan Pinggao Electric secures significant State Grid ultra-high voltage equipment contracts

Henan Pinggao Electric Company Limited announced successful bids in the State Grid Corporation of China's 2025 sixty-fourth procurement batch for ultra-high voltage equipment. The total bid award for the company and its subsidiaries is approximately 773 million yuan. This substantial award represents 6.24% of the company's 2024 operating revenue.

The bids include contracts for combined electrical appliances, AC/DC circuit breakers, disconnector and earthing switches, and DC wall bushings for Henan Pinggao Electric Co., Ltd., totaling 60.961 million yuan across eight packages. Henan Pingzhi High Voltage Switchgear Co., Ltd. secured a bid for combined electrical appliances worth 12.030 million yuan, and Pinggao Toshiba (Langfang) Lightning Arrester Co., Ltd. won a bid for lightning arresters valued at 4.342 million yuan, each comprising one package. In total, the group secured 10 packages.

The company expects these contracts to positively impact its future business development while maintaining operational independence. However, it cautioned investors about potential risks, noting that formal commercial contracts with State Grid have not yet been signed. Specific delivery times and current period performance impacts are subject to the final agreements, and investors are advised to exercise caution.