Wasion : Subsidiaries win contracts from State Grid worth HKD787.63 million - Maintains leading position in winning tenders and total contract value

Wasion Holdings Subsidiaries win HKD787.63 million contracts from State Grid

June 7, 2022

【Press release】For immediate release

Wasion Holdings Subsidiaries win contracts from State Grid worth HKD787.63 million

Maintains leading position in winning tenders and total contract value

(Hong Kong, 7 June 2022) Wasion Holdings Limited (the "Company", "Wasion" or the "Group"; stock code: 3393.HK), the PRC'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 RMB667.99 million (approximately HK$787.63 million) for smart meters and power usage data collection equipment in the State Grid Corporation of China's (''State Grid'') first tender during 2022.

Wasion Group Limited, one of the two subsidiaries, won contracts for smart meters worth approximately RMB431.98 million (approximately HK$509.35 million). At the same time, Willfar Information Technology Company Limited, another of the Group's subsidiaries, won contracts for data collection terminals and concentrators with a contract value of approximately RMB236.01 million (approximately HK$278.28 million). The Group ranked leading position in terms of the volume and total contract value secured in this tender. In particular, the Company won contracts with a combined value of approximately RMB805.65 million (approximately HK$957.97 million) in State Grid's centralized bidding during 2022, confirming its overall strength and leading position in the energy-measurement field.

Mr. Ji Wei, Chairman of the Group said: "State Grid recently launched eight measures to stabilize the economy. These include substantially increasing investment in the power grid which has set the tone for the industry's future development. As the PRC's leading provider of energy-measurement equipment and energy-saving solutions, Wasion will support the country in establishing a new power system and strive to help achieve its dual carbon target. The company will stay committed to green and sustainable development by continuously pursuing R&D-driven innovations, introducing intelligence and information technology into the power grid, constantly upgrading its products and services, and improving the grid's operational efficiency."

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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 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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Wasion Holdings Subsidiaries win HKD787.63 million contracts from State Grid

June 7, 2022

Joanne Chan	(852) 3679 3671	[e-mail]
Jason Ho	(852) 3752 2675	[e-mail]
Fax: [phone]

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