Wasion : Subsidiaries Won Contracts from State Grid Worth HK$445.79 million

Wasion Holdings Subsidiaries Won Contracts from State Grid Worth HK$445.79 million April 10, 2024

[Press release] For immediate release

Wasion Holdings Subsidiaries Won Contracts from State Grid Worth HK$445.79 million

Maintains leading position in winning tenders and total contract value

(Hong Kong, 10 April 2024) Wasion Holdings Limited (the "Company", "Wasion" or the "Group"; stock code: 3393.HK), China's leading provider of energy measurement equipment and energy-saving solutions, is pleased to announce that two of its subsidiaries have won contracts worth a total of RMB412.08 million (approximately HK$445.79 million) for procurement of metering equipment in the State Grid Corporation of China's (''State Grid'') first tender in 2024.

Wasion Group Limited, one of the two subsidiaries, has won contracts for approximately 899,000 units of smart meters with a contract value of approximately RMB305.94 million (approximately HK$330.97 million). At the same time, Willfar Information Technology Company Limited, another subsidiary of the Group, has also won contracts on data collection terminals and concentrators for approximately 56,000 units with a contract value of approximately RMB106.14 million (approximately HK$114.82 million). The Company ranked leading position in terms of volume and total contract sum won in this tender. In particular, the Group has won contracts with an accumulated value of approximately RMB412.08 million (approximately HK$445.79 million) in the State Grid's centralized bidding in 2024, representing its overall strength and leading position in the energy-measurement field.

Mr. Ji Wei, Chairman of the Group said: "The overall electricity consumption within society is currently undergoing substantial growth, while the development of the power grid is steadily advancing with the support of diverse policies. This year, State Grid has expanded its bidding activities for metering products, highlighting the significant demand within the industry. As a leading company in technological research & development, and product manufacturing within this sector, the Group remains committed to ongoing innovation and in-depth research. We are actively engaging in bidding projects initiated by power grid customers and are dedicated to augmenting our market share."

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Wasion Holdings Subsidiaries Won Contracts from State Grid Worth HK$445.79 million April 10, 2024

About Wasion Holdings Limited

Wasion Holdings is the leading provider of energy measurement equipment and energy saving solutions in the PRC. Its products and services include Power Advanced Metering Infrastructure (Power AMI), Communication and Fluid Advanced Metering Infrastructure (Communication and Fluid AMI), and Advanced Distribution Operations (ADO) (Smart Distribution Solutions (SDS), Smart Distribution Devices (SDD), and Energy Efficiency Solutions (EES). The Group's current clients include power grid companies, water, gas and heat providers, and other major industrial and commercial users. Its products have major market share in the PRC and are exported worldwide including Asia, Africa, Europe and United States. Its research centre and laboratory have been certified as national grade and international standards. Wasion's research and development capabilities in smart metering and energy saving solutions are renowned within the industry.

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