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Pinggao Electric Bags Chinese State Grid's Bid for 2.09 Billion Yuan; Shares Up 3%

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Henan Pinggao Electric (SHA:600312), along with its subsidiaries, was selected as a winning bidder for the State Grid Corporation of China's procurement bid for 2.09 billion yuan, according to a Saturday disclosure on the Shanghai bourse.

The Chinese electric components manufacturer's shares rose 3% during Monday's afternoon trade.

The winning products include 1000-kilovolt combined electrical apparatus (GIS), combined electrical apparatus, surge arresters, switchgears, disconnectors and grounding switches.

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