CROSBY Research – Wasion Holdings (3393 HK/ BUY): 3rd tender win indicated strong demand for smart meters

3 December 2024

Wasion announced that the company has won contracts from State Grid’s third centralized tender procurement on metering equipment that worth a total of Rmb261.1m. From this contract, the company has won 662k units of smart meters with a contract value of Rmb175.2m. At the same time, its subsidiary- Willfar Information Technology has also won contracts on data collection terminals and concentrators for 48k units with a contract value of Rmb85.9m.