China XD Electric secures major South Grid contract for UHVDC project

China XD Electric Company Limited announced that its subsidiaries were awarded contracts in the China Southern Power Grid's special bidding project for the main DC equipment and materials of the ±800kV UHVDC transmission project from southeastern Tibet to the Guangdong-Hong Kong-Macao Greater Bay Area. The bid results were published on December 15, 2025.

Four of China XD Electric's subsidiaries—Xi'an XD Power System Co., Ltd., Xi'an XD Transformer Co., Ltd., Xi'an XD High Voltage Bushing Co., Ltd., and Xi'an XD Power Capacitor Co., Ltd.—secured bids for products including converter valves, transformers, bushings, and capacitors. The total amount for these bids is CNY 1.00505 billion. This amount compares to the company's 2024 operating revenue of CNY 22.17478 billion.

The company stated that the fulfillment of these contracts, once signed, will have a positive impact on its future operations and development, and will not affect the independence of its business. Investors are cautioned that formal commercial contracts have not yet been signed, and terms, delivery times, and the exact impact on current period performance remain uncertain.