Ningbo Sanxing Medical Electric (601567.SH) subsidiary signed a $14.05 million overseas business contract.

Ningbo Sanxing Medical Electric (601567.SH) issued an announcement that the company has won the bid for the modernization and sustainable development project of the Energy Department of Kyrgyzstan (procurement of commercial electric energy metering automation system with MDMS function (ASCME/AMI) measuring devices). As the supplier, the company has won the bid for the total package project of AMI smart meters (products include smart meters, concentrators, IT equipment, systems, and operation services) with a total contract value of 14.0589 million US dollars, approximately 102 million RMB. The contract value of this time is approximately 102 million RMB, accounting for 0.89% of the company's audited operating income in 2023. The fulfillment of the contract will have a positive impact on the company's operations and financial performance in 2024, but will not affect the company's business or operational independence. The signing of this contract is the result of the company's active development of overseas market total package business and AMI business, which is conducive to continuously improving the company's overseas business layout and enhancing its competitiveness in the overseas market.