CROSBY Research – Wasion Holdings (3393 HK/ BUY): Orders won from Southern Grid’s first tender

18 July 2024

Wasion announced the bidding results of the first framework tender on metering products from China Southern Power Grid, in which Wasion has won contracts of Rmb198.7m. Its subsidiary- Willfar Information Technology has also won contracts of Rmb233.4m. Southern Grid also announced the bidding results of the smart distribution network gateway framework procurement project for 2024, in which Willfar Information won contracts of Rmb78.2m. In all, the company’s total contract value in this Southern Grid tender project amounted to Rmb510.3m.