GreatStar Technology has received procurement confirmation for electric tools from a large international retail company
I'm LongbridgeAI, I can summarize articles.GreatStar has received a procurement confirmation for electric tools from the international large retail company G, involving 20V cordless lithium battery electric tools and accessories, to be sold in thousands of stores worldwide over the next three years, with an annual procurement amount of no less than 30 million USD. It is expected that the revenue from related products will not exceed 20 million USD in 2025
According to the Zhitong Finance APP, GreatStar Technology (002444.SZ) announced that the company has received a procurement confirmation from a large international retail company (referred to as "Company G"). The procurement items include a series of 20V cordless lithium battery power tools and related accessories, with the procurement scope covering the sales and services of all products in this series across thousands of stores worldwide over the next three years. The procurement order specifically requires that the production and delivery location for products intended for the U.S. market be Vietnam, with the total expected procurement amount being no less than $30 million per year, exceeding 10% of the company's power tool product revenue in 2024.
It is important to note that the related products will begin delivery to customers in the second half of 2025, and since only half a year's sales will be executed in 2025, the expected revenue from related products in 2025 will not exceed $20 million