Wasion : Subsidiaries Won Contracts from Southern Grid Worth HK$252.88 million Maintains leading position in total contract value

Wasion Holdings Subsidiaries Won Contracts from Southern Grid Worth HK$252.88 million December 28, 2022

[Press release] For immediate release

Wasion Holdings Subsidiaries Won Contracts from Southern Grid Worth

HK$252.88 million

Maintains leading position in total contract value

(Hong Kong, 28 December 2022) Wasion Holdings Limited (the "Company", "Wasion" or the "Group"; stock code: 3393.HK), the leading provider of energy measurement equipment and energy saving solutions in the PRC, is pleased to announce that Wasion Group Limited, a subsidiary of the Group, has won contracts in the second framework tender on metering products in 2022 from China Southern Power Grid Co., Ltd. (''Southern Grid'') with a total value of approximately RMB127.99 million (approximately HK$143.13 million). Furthermore, Willfar Information Technology Company Limited, another subsidiary of the Group, has also won contracts in the same tender with a total value of approximately RMB98.14 million (approximately HK$109.75 million).

In this tender, the Group ranked leading position in terms of total contract value of approximately RMB226.13 million (approximately HK$252.88 million), representing its overall strength and leading position in the energy-measurement field.

Mr. Ji Wei, Chairman of the Group said: "Southern Grid recently launched the first large-scale evaluation and replacement exercise of power meter in regions, while actively exploring a new monitoring mechanism for smart power meters and providing new solutions for the field of supervision of measuring equipment. Southern Grid is one of the Group's key customers, we will continue to leverage our strengths as an expert in energy measurement and energy saving solutions, enhance our innovative research and development capabilities, assist in the construction of new power system, and further serve our customers with better quality products and services in order to strengthen our customer base."

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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 to Asia, Africa, Europe and the United States. Its research center and laboratory have been certified as national grade and meet international standards. Wasion's R&D capabilities in smart metering and energy saving solutions are renowned within the industry.

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