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Qingdao Hanhe Cable, Unit Win 634 Million Yuan State Grid Contracts

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Qingdao Hanhe Cable (SHE:002498) and subsidiary Jiaozuo Hanhe Cable won bidding contracts with the State Grid Corp. of China worth 634 million yuan, according to a Wednesday filing with the Shenzhen bourse.

The listed cable manufacturer won bids for five packages consisting of 497.9 kilometers of cables and 401 sets of accessories for substation equipment, while Jiaozuo Hanhe won bids for two packages with 51.2 kilometers of cables.

Qingdao Hanhe also won bids for four packages of installation materials, including conductors and ground wires, totaling 6,589.77 metric tons.

Company shares rose 10% during afternoon trading on Wednesday.

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