TongDa Cable is expected to win a bid for a 176 million yuan State Grid procurement project
I'm LongbridgeAI, I can summarize articles.TongDa Cable announced that it has become a candidate for the fifteenth batch of procurement projects by the State Grid in 2025, with a total project value of 176 million yuan, accounting for approximately 2.83% of the company's total revenue for the 2024 fiscal year. The formal awarding of this project is expected to positively impact the company's operations and performance, enhancing the profitability and core competitiveness of its wire and cable business
According to the Zhitong Finance APP, TongDa Cable (002560.SZ) announced that it has been recommended as the winning candidate for Package 9 of the 15th batch procurement by State Grid Corporation of China for 2025 (the second material bidding procurement for the UHV project) (Tender No.: 0711-25OTL04421009, Sub-tender No.: SG2576-1402-22002), with the winning material being the ground wire. According to the company's calculations, the total value of the winning materials is approximately RMB 176 million, accounting for about 2.83% of the company's total revenue for the fiscal year 2024.
Once the above project is officially awarded, the performance of the contract is expected to have a positive impact on the company's future business activities and operating performance, benefiting the enhancement of the company's wire and cable sector, and contributing to the increase of the company's profitability and core competitiveness, but it will not affect the company's operational independence