Linyang Energy signed a sales contract with Saudi ECC

On November 5, Linyang Energy announced that its wholly-owned subsidiary, Linyang Energy Technology (Shanghai) Co., Ltd. ("Linyang Shanghai"), has signed a smart meter sales contract with Saudi Energy Care Company ("Saudi ECC"). The agreement is worth $13.66 million USD (approximately 96.98 million CNY). 

Thanks to strategic investments, Linyang Energy and Saudi ECC have grown their partnership, maintaining a market share of over 30% while expanding into neighboring Middle Eastern markets like Oman and Kuwait. The collaboration in smart metering has been highly successful, with total orders exceeding 1 billion CNY.

Linyang Energy's smart meters are now deployed in over 30 countries and regions globally. Looking ahead, Linyang will continue to strengthen its partnership with Saudi ECC, driving further collaboration in smart metering, energy storage, and renewable energy, and accelerating its global growth. 

*All figures in the post are based on the closing exchange rate as of Nov 5, 2024.