Sanxing Medical subsidiary wins smart meter contract in Brazil

Ningbo Sanxing Medical Electric Co., Ltd. announced its wholly-owned subsidiary, Nansen Instrumentos de Precisão Ltda, based in Brazil, secured a contract for the Brazil CPFL Smart Meter Project. The contract is valued at BRL 10,590.99 million. This deal involves Nansen supplying single-phase and three-phase smart meters to CPFL Energia.

The contract value represents 0.92% of the company's audited operating income for 2024. Sanxing Medical expects the contract's execution to positively impact its operations and financial performance without affecting the independence of its business. This agreement underscores the company's strategy to expand its international market presence and deepen its localized operations, enhancing its competitive edge in overseas markets.

The company highlighted potential risks, including unforeseen circumstances or force majeure that could hinder full contract execution or lead to termination. Additionally, risks related to international trade policies, currency exchange rate fluctuations, and market, legal, or political changes are noted for this export-involved business.