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XJ Electric Wins 1.25 Billion Yuan in Electrical Equipment Bids for China's State Grid; Shares Rise 6%

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XJ Electric (SHE:000400) won bids to supply electrical equipment to the State Grid Corp. of China for about 1.25 billion yuan, according to a Thursday disclosure to the Shenzhen Stock Exchange.

The company won a 1.13-billion-yuan bid for converter valves, measuring devices, switchgear, secondary equipment, and other products for an ultra-high-voltage project.

It also won a measuring device bid for 96.1 million yuan and secondary equipment for 2.5 million yuan.

Subsidiary Henan XJ Electric Switchgear won switchgear bids for 18.8 million yuan.

Shares rose 6% during afternoon trading on Thursday.

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