(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.”