ZHIDA TECH (02650) signed a large order of over 100 million yuan for electric vehicle charging piles with local partner Saudi Controls Ltd in Saudi Arabia, laying out its presence in the Middle East market.

ZHIDA TECH (02650) announced that the company has recently signed a sales order worth over 100 million RMB with its local partner, Saudi Controls Ltd in Saudi Arabia. The two parties will collaborate for the next 5 years, with the company supplying a variety of AC and DC electric vehicle charging products. This important partnership marks a strategic step for the company in the Saudi and broader Middle East markets. To meet the growing demand in the Saudi and Middle East markets, the company plans to complete the production equipment by December 2025 and ship it to Riyadh, with production set to begin in the first quarter of 2026. The construction of this new factory signifies a deeper strategic presence for the company in Saudi Arabia. In the future, Saudi Arabia will serve as the company's manufacturing base in the Middle East, providing high-quality, localized electric vehicle charging products and services for the entire Middle East market. In the Middle East region, the company will not only focus on the Saudi market but also plans to expand its business to other countries such as the UAE, Qatar, and Kuwait in the coming years, further solidifying its market leadership in the Middle East. By establishing a production base in Saudi Arabia, the company will create more job opportunities for the local economy while supporting the country's sustainable development goals. The company will implement strict localization manufacturing standards in Saudi Arabia to ensure that the products fully meet market demand and will work with the local government to provide strong support for the development of electric vehicle charging infrastructure in Saudi Arabia and the Middle East region. The company's Middle East strategy is not only about expanding market share but also an important layout in the global new energy field. Through deep cultivation and innovation in the Middle East region, the company will accelerate the transformation of global intelligent electric travel and bring profound changes to the electric vehicle ecosystem. In the future, the company will continue to focus on technological innovation, providing more efficient and environmentally friendly charging solutions, promoting the popularization of electric travel in the Middle East, and contributing to the sustainable development of the global new energy industry. Additionally, the company believes that there may be more business opportunities in the future for the group in the electric vehicle charging sector. The company will continue to explore new business opportunities to enhance shareholder returns.