【Press release】For immediate release
Successfully won RMB40.2million AMI and ADO tender contracts from Jiangsu Electric Power Company
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Laying a solid foundation for AMI and ADO business in 2015
(Hong Kong, 13 February 2015) Wasion Group Holdings Limited ("Wasion Group", together with its subsidiaries, the "Group"; stock code: 3393.HK) is pleased to announce today that Wasion Energy Industry Technology Co., Ltd., a wholly owned subsidiary of the Group, has won contracts of approximately RMB40.2million in the first 2015 tender by Jiangsu Electric Power Company, including Smart Metering Tanks contract of approximately RMB16.7million and Distribution Transformer Comprehensive Distribution Tank Systems (JP Tank System) contract of approximately RMB23.5million, laying a solid foundation for the Group's business in 2015. The contract value of the JP Tank System was the biggest since the Group's expansion into Advanced Distribution Operations (ADO) business, which not only proves the Group's ADO business is well recognized by the market, but also marks a good start for its rapid development.
To realize the Group's corporate mission as an energy metering and energy saving expert, it has spared no efforts in developing and producing systems and solutions that are beneficial to the market and users. Smart Metering Tank is one of the important parts of the Group's Advanced Metering Infrastructure (AMI) business; while JP Tank System, categorized under the Group's ADO business, is a low-voltage distribution system that is designed for outdoor use. Winning a substantial ADO system contract helps laying a solid foundation for the Group's business in 2015, and proofing the wide recognition of the Group's ADO business.
Mr. Ji Wei, Chairman of the Group is pleased with the Group's outstanding performance in a large-scale tender, he commented, "Driven by the ongoing power reform, power grid transformation in rural villages as well as the promotion of energy effectiveness management by PRC government, the demand for smart metering and distribution systems is growing fast, which will definitely bring huge business opportunities for our AMI and ADO business. Given the hard work of the Group, we believe more good news is coming. At the start of a new year, we will continue enhancing our strengths within the industry and realizing our mottos "Perfect Work with Passion and Success Achieved with Integrity", for the appreciation of trust and support from our clients, and for creating a higher quality energy consumption environment for the public."
Currently, the Chinese government is actively promoting power reform. Pricing reform for power transmission and distribution was introduced in Shenzhen and power direct trading pilots were setup, to enhance the monitoring over power transmission and distribution and to promote the market-driven pricing for power generation and retailing. Researchers suggested that in order to achieve effective power management and to attain cost saving, corporates are encouraged to adopt smart metering and smart distribution systems and solutions. Meanwhile, since China has introduced a number of policies to promote energy saving and emission reduction, the demand for energy management systems and solutions is expected to go up. Many researches stated that Wasion Group would continue to benefit from Chinese power reform in the future.
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About Wasion Group Holdings Limited
Wasion Group is the leading provider of energy measurement equipment and energy saving solutions in the PRC. Its products and services include Smart Meters (SM), Advanced Metering Infrastructure Solutions (AMI), Smart Distribution Devices (SDD), Smart Distribution Solutions (SDS) 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. The Group owned China's very first Energy Conservation and Environmental Protection Engineering Research Center (節能環保領域工程研究中心). 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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