HK Stock Market Move | SUN.KING TECH (00580) rose more than 10% recently signed a 624 million yuan power electronic device agreement with Gandian Electric in Zhejiang.

SUN.KING TECH (00580) surged more than 10%, up 9.89% at the time of writing, at 1 Hong Kong dollar, with a trading volume of 2.5704 million Hong Kong dollars. On the news front, SUN.KING TECH recently announced that one of its subsidiaries, as a supplier, has signed six agreements with five parties including Changzhou Bory Electric Power Automation Equipment Co., Ltd., Nanjing Nerui Semiconductor Co., Ltd., Xj Electric Co., Ltd., Xi'an Xidian Power System Co., Ltd., and Rongxinhuik Electric Co., Ltd., to purchase power electronic devices totaling 624 million yuan, to be used in the Gansu-Zhejiang 800 kV Ultra High Voltage Direct Current Transmission Project. A CITIC SEC research report pointed out that ultra-high voltage is essential to support the integration of new energy sources in the central and western regions, with urgent and continuous industry demands. SUN.KING TECH's procurement agreements once again highlight the core equipment requirements for flexible direct current valves. With abundant reserves of flexible direct current projects and combined with domestic and overseas demands, it is expected that related equipment and component sectors will gradually enter the period of performance realization.