JinGuan Electric (688517.SH) won the bid for a 22.36 million yuan national grid procurement project.

JinGuan Electric (688517.SH) announced that recently, State Grid Corporation of China unveiled the list of recommended bidders for the 68th batch of procurement in 2024 (the sixth equipment tender procurement for UHV projects). The company won the bid for surge arrester products for the Datong-Tianjin South 1000 kV UHV AC transmission and transformation project, with a contract value of 22.36 million yuan. This winning bid accounts for approximately 3.46% of the company's revenue in 2023, and the fulfillment of the contract will have a positive impact on the company's future business performance.