Henan Pinggao Electric (600312.SH) won a bid for approximately 936 million yuan related to a State Grid project.

Henan Pinggao Electric (600312.SH) announced that recently, the State Grid Corporation of Chinas e-commerce platform released the "State Grid Corporation of China 2026 Power Transmission and Transformation Project Fourth Public Tender Announcement for Substation Equipment (Including Cables)" and the "State Grid Corporation of China 2026 Power Transmission and Transformation Project Fourth Direct Procurement (Single Source) Result Announcement." The company and its subsidiaries, Henan Pingzhi High Voltage Switch Co., Ltd. (hereinafter referred to as "Pingzhi Company"), Tianjin Pinggao Intelligent Electric Co., Ltd. (hereinafter referred to as "Tianjin Pinggao"), Shanghai Pinggao Tianling Switch Co., Ltd. (hereinafter referred to as "Shanghai Pinggao"), Henan Pinggao General Electric Co., Ltd. (hereinafter referred to as "General Electric"), Pinggao Group Weihai High Voltage Electrical Co., Ltd. (hereinafter referred to as "Pinggao Weihai"), as well as the joint venture Pinggao Toshiba (Langfang) Surge Arrester Co., Ltd. (hereinafter referred to as "Pinggao Toshiba (Langfang)") are the winning bids for the relevant projects, with a total bid amount of approximately 936 million yuan, accounting for 7.48% of the 2025 operating income.