News - Linyang’s Announcement on Winning the Electricity Meter Bid of the State Grid of China

The Company and all the members of the board of directors’ guarantee that there are no false records, misleading statements or major omissions in the contents of the announcement, and they shall be individually and jointly liable for the truthfulness, accuracy and completeness of the contents.





I. Main contents of the bid


Jiangsu Linyang Energy Co., Ltd. (hereinafter referred to as the “company”) on November 3, 2020 received the bidding winning notice from the State Grid and its material co., Ltd. for the second procurement of 2020 electricity meter project (including the electricity information data collection). The bid products are Class A (Grade II) single-phase smart meter, Class B (Grade I) three-phase smart meter, Class C (Grade 0.5 S) three-phase smart meter, Class D (Grade 0.2 S) three-phase smart meter, concentrator, collector and acquisition terminal. With a total of nine standard Lots, the winning total amount is about 226 million yuan.


On November 3, 2020, the company published on Shanghai Securities News, Securities Times and the website of Shanghai Stock Exchange ( “Indicative Announcement of Jiangsu Linyang Energy Co., Ltd. on pre-winning the Bid for Major Business Contracts”. This pre-winning bid includes 9 Lots with a total quantity of 774,729 pcs. Among them, the pre-awarded quantity of the first sub bid is 560,042 pcs; The  pre-awarded quantity of the second sub-bid is 135,000 and the third is  38,000 pcs, the fourth is 3,687  pics, the fifth is  32,000 pcs and the sixth is  6,000 pcs, with a total pre-won amount of about 226 million yuan.


II. Influence of winning the bid on the Company


The total bid-winning amount is about 226 million-yuan, accounting for 6.72% of the company’s audited total revenue in 2019. The performance of the winning contract is expected to have a positive impact on the company’s business and business performance in 2021, but not on the company’s business and business independence.


III. Risk warning


1. At present, the company has received the notice of winning the bid, but has not signed a formal contract with the trading party, so the terms of the contract are still uncertain. The specific content is subject to the final signed contract.


2. During the performance of the Contract, if the contract is affected by unpredictable or force majeure factors, it may lead to the risk that the contract cannot be fully performed or terminated.





Post time: Nov-05-2020