Qingdao TGOOD Electric (300001.SZ) signed a contract for an overseas substation project worth about 700 million yuan.

Qingdao TGOOD Electric (300001.SZ) announced that the company has recently signed a contract with National Grid SA (referred to as "Saudi National Grid") for the supply and installation of high voltage mobile substations. The total amount of the contract is 353 million Saudi Riyals, equivalent to approximately 700 million RMB. The smooth progress of this project is of great significance in promoting the company's international market strategic layout, and also helps Saudi Arabia further optimize its power grid structure, improve energy utilization efficiency, and promote the sustainable development of energy. The company will actively respond to the "Belt and Road" initiative, and contribute to the continuous energy transformation worldwide through dual development in domestic and international markets.