Zhi Guang Electric’s Subsidiary Wins Multiple Projects Worth 298 Million Yuan
On March 18, Zhi Guang Electric (002169) announced that its subsidiary, Guangzhou Lingnan Cable Co., Ltd., received a notification of winning bids for several projects, with a total bid amount of 298 million yuan. These projects include packages 19 and 40 of power cables from the State Grid Corporation’s eighth procurement batch for 2025, as well as the second batch of framework bidding projects for main network line materials from the Southern Power Grid for 2024.
Specifically, the bid amount for power cable package 19 is 31.69 million yuan, primarily involving 220kV power cables and grounding boxes. The bid amount for power cable package 40 is 42.38 million yuan, with products related to 110kV power cables. Additionally, the bid amounts for the 220kV and 110kV AC power cables from Southern Power Grid are 101 million yuan and 123 million yuan, respectively.
The company stated that winning these projects is expected to positively influence its operating performance and enhance the brand influence of Lingnan Cable. It is important to note that the project contracts have not yet been signed, and the final settlement amounts will be based on formal contracts, which poses a certain degree of performance risk.
In the first three quarters of 2024, Zhi Guang Electric reported revenues of 1.899 billion yuan and a net profit attributable to the parent company of -141 million yuan.
