SHA:603606

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Ningbo Orient Wires & Cables Secures 5.23 Billion Yen in New Contracts

Ningbo Orient Wires & Cables (SHA:603606) and its subsidiary have won bids totalling 5.23 billion yuan across multiple major projects, according to a bourse filing on Wednesday.The bids are divided into three categories, namely green power transmission cables for 3.36 billion yuan, power and new energy submarine and high-voltage cables 1.11 billion yuan, and deep-sea marine equipment and engineering operations 762 million yuan.Key projects include State Grid and China Southern Power Grid procurements, as well as offshore wind farm submarine cable supply for the Yangjiang Sanshan Island project.The company said these projects will help accelerate its "land and sea" dual-market strategy.

SHA:603606

Asia54d ago

Ningbo Orient Wires & Cables' Q1 Profit Jumps 32%, Revenue Rises 34%; Shares Up 10%

Ningbo Orient Wires & Cables' (SHA:603606) net profit attributable to shareholders in the first quarter jumped 32% year on year to 371.5 million yuan, or 0.54 yuan per share, according to a Shanghai bourse filing on Wednesday.The attributable profit a year earlier was 280.9 million yuan, or 0.41 yuan per share.Operating revenue climbed 34% to 2.88 billion yuan from 2.15 billion yuan in the prior year.The Chinese wire and cable producer's shares surged 10% in the morning trade.

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