LinYang Electronics Wins 179 Million Yuan Smart Meter Project
LinYang Electronics has announced that it is the successful bidder for the "State Grid Corporation of China's Centralized Large-scale Bidding Procurement 2011 Electricity Meter Third Batch Project." The total quantity of electricity meters won in the bid amounts to 958,200 units, with a total contract value of 179 million yuan. Among these, the number of Class 2 single-phase smart electricity meters won is 784,500 units, valued at 139 million yuan; the number of single-phase ordinary electronic electricity meters won is 104,900 units, valued at 7.2318 million yuan; and the number of Class 1 three-phase smart electricity meters won is 68,700 units, valued at 32.6103 million yuan.
This year, the company has cumulatively won State Grid Corporation of China large-scale bidding procurement electricity meter projects totaling 679 million yuan. Its subsidiary, Wuhan Autong Electrical Co., Ltd., has cumulatively won State Grid Corporation of China large-scale bidding procurement electricity meter projects totaling 37.1554 million yuan. The joint venture company, Jiangsu Huayuan Instruments & Meters Co., Ltd., has cumulatively won State Grid Corporation of China large-scale bidding procurement electricity meter projects totaling 49.98 million yuan. There are no related party relationships between the State Grid Corporation of China and the company. The company's audited total operating revenue for the 2010 fiscal year was 1.14 billion yuan.
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