Wasion : Subsidiaries win RMB218 million contracts from Southern Grid - Multiple deals among highest in terms of contract value

Wasion Holdings Subsidiaries win RMB218 million contracts from Southern Grid

January 28, 2022

【Press release】For immediate release

Wasion Holdings Subsidiaries win RMB218 million contracts from Southern Grid

Multiple deals among highest in terms of contract value

(Hong Kong, 28 January 2022) Wasion Holdings Limited (the "Company", "Wasion" or the "Group"; stock code: 3393.HK), the leading provider of energy measurement equipment and energy saving solutions in the PRC, is pleased to announce that two subsidiaries of the Group have won contracts valued at a total of RMB217.93 million (approximately HK$268.03 million) in the second framework tender on metering products in 2021 from China Southern Power Grid Co., Ltd. (''Southern Grid'').

Wasion Group Limited won contracts worth approximately RMB172.78 million (approximately HK$212.50 million), while Willfar Information Technology Company Limited, another subsidiary of the Group, landed deals worth approximately RMB45.15 million (approximately HK$55.53 million) in the same tender. The Group's win rank among the top in terms of the total contract value in this tender, representing its strong competitive advantage in the energy metering industry.

Mr. Ji Wei, Chairman of the Group said: "We believe that the breakthroughs of last year in renewable energy generation will continue in 2022, bringing rapid development to metering products. With the background of very active construction of the new power system and increasing investment in power grids, the Group is committed to technological innovation, increased investment in proprietary research and development to provide better products and services to its customers. Looking forward, the Group will continue to follow the trend of digital power grid transformation and grow steadily in parallel with the rapid development of the market."

-Ends-

About Wasion Holdings Limited

Wasion Holdings is the leading provider of energy measurement equipment and energy saving solutions in the PRC. Its products and services include Power Advanced Metering Infrastructure (Power AMI), Communication and Fluid Advanced Metering Infrastructure (Communication and Fluid AMI), and Advanced Distribution Operations (ADO) (Smart Distribution Solutions (SDS), Smart Distribution Devices (SDD), and Energy Efficiency Solutions (EES). The Group's current clients include power grid companies, water, gas and heat providers, and other major industrial and commercial users. Its products have major market share in the PRC and are exported worldwide including Asia, Africa, Europe and United States. Its research centre and laboratory have been certified as national grade and international standards. Wasion's research and development capabilities in smart metering and energy saving solutions are renowned within the industry.

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