Qingdao East Steel Tower wins major State Grid contracts

Qingdao East Steel Tower Co., Ltd. (SZSE:002545) and its wholly-owned subsidiaries have successfully bid on two projects from State Grid Corporation of China, with a combined value of approximately 137.26 million yuan. This figure represents about 3.27% of the company's audited operating revenue for 2024. The winning bids were announced on the State Grid Corporation of China's e-commerce platform and include contracts for angle steel towers and steel pipe towers.

The first successful bid, under State Grid's 49th batch of procurement for transmission and transformation projects (tender no. 0711-250TL08221015), is valued at 98.48 million yuan. This project covers procurement packages 10, 11, 62, and 136. The second win, under State Grid's 34th batch of procurement for ultra-high voltage projects (tender no. 0711-250TL08121014), is for angle steel towers in package 5, totaling 38.78 million yuan.

These contract awards are expected to positively impact the company's future operations and financial performance. However, investors are advised that while the bidding results are public, the company has not yet received official notification of the awards.