WASION HOLDINGS (03393) has recently successfully secured several orders for smart grid-related products and solutions in emerging markets in the Middle East.

WASION HOLDINGS (03393) announced that the Group has recently successfully secured several orders for smart grid-related products and solutions in emerging markets in the Middle East, with a total contract amount of approximately RMB1.25 billion (approximately HK$1.47 billion). These orders mainly cover metering products and services such as smart electricity meters, and are expected to be delivered and recognized as revenue in phases over three years. The customers for these orders are local power utilities with substantial scale and good credit standing. The Board believes that these orders reflect further recognition by overseas customers of the Group's product quality, technical capabilities, project delivery experience and overall solutions, and also confirm the results of the Group's continued advancement of its internationalization strategy and expansion into high-potential overseas markets. These orders are expected to bring a stable source of revenue to the Group and make a positive contribution to the Group's future operating performance and business development. The Board also believes that this successful bid will help the Group deepen its customer base in emerging markets in the Middle East, enhance its brand influence, and lay a solid foundation for securing more overseas projects and long-term cooperation opportunities in the future. The Group will continue to seize the market opportunities brought about by the global energy transition, grid intelligence and digital energy infrastructure construction, steadily expand its overseas business, and create long-term value for shareholders.