Sanxing Medical Jumps by Limit After Bagging USD136.5 Million Transformer Order From Dutch Client
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Sanxing Medical Electric's shares surged by 10% to CNY29.41 after securing a EUR117 million (USD136.5 million) transformer order from Dutch client Enexis Netbeheer. This marks a significant breakthrough for the company in the Western European market. The order involves supplying oil-immersed transformers, crucial for power grid distribution and infrastructure. Sanxing Medical's revenue from power equipment constituted 80% of its total in the first half of last year, with recent successes in Europe and Latin America.
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