On March 18, 2025, Zhi Guang Electric (002169) announced that its subsidiary, Guangzhou Lingnan Cable Co., Ltd., has received notification of winning several bids, with a total value of 298 million yuan. These projects include the 19th and 40th packages of power cables from the State Grid Corporation of China as part of its eighth batch of procurement in 2025, as well as the second batch of framework bidding for main network line materials from the Southern Power Grid Company for 2024.
Specifically, the bid for power cable package 19 amounts to 31.69 million yuan, which primarily includes 220kV power cables and grounding boxes. The bid for package 40 is valued at 42.38 million yuan and consists of 110kV power cables. Additionally, the winning bids for the 220kV and 110kV AC power cables from the Southern Power Grid are 101 million yuan and 123 million yuan, respectively.
The company stated that winning these projects will positively impact its operational performance and enhance the brand recognition of Lingnan Cable. However, it is important to note that the project contracts have not yet been signed, and the final settlement amount will be based on the official contracts, which carries a certain level of fulfillment risk.
For the first three quarters of 2024, Zhi Guang Electric reported a revenue of 1.899 billion yuan with a net profit attributable to the parent company of -141 million yuan.
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