Zhongli Group's subsidiary wins cable project contract

Jiangsu Zhongli Group (SZSE:002309) announced that its wholly-owned subsidiary, Liaoning Zhongde Cable Co., Ltd., has received a "Transaction Notice" for a cable project. The project, awarded by TBEA Xinjiang New Energy Co., Ltd., involves the annual framework procurement of aluminum alloy cables for 2025. The contract is valued at approximately RMB 48.35 million (USD 6.7 million), with the construction location determined based on purchase orders under the framework agreement. The project timeline spans from February 2025 to February 2026. Zhongli Group anticipates that this win will positively impact its expansion in the power cable market. The contract value represents roughly 23% of Liaoning Zhongde's 2024 revenue. Investors are advised to be aware of the risks of only being a framework agreement.