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China XD Electric wins RMB 2.06 bln contracts

Oct. 17, 2012 (China Knowledge) - China XD Electric Co<601179>, a high-voltage electricity transmission equipment producer based in Xi'an, Shaanxi Province, has said it inks an agreement with State Grid Corporation of China, the nation's largest power supplier, to provide electricity transmission equipments with a contract value of RMB 2.06 billion.

The company said in a statement filed with the Shanghai Stock Exchange that the contract value was equivalent to 18.27% of the company's operating revenue in 2011.

According to the statement, China XD Electric will provide a series of equipments including converter transformer, converter valves, GIS, condenser and disconnecting switch to State Grid Corporation of China from Feb 2013 to Mar 2014.

In the first half of this year, China XD Electric suffered a net loss of RMB 155.36 million, compared with a net profit of RMB 35.95 million it realized in the same period of 2011.

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