Saudi CEER Taps ZHIDA TECH as Exclusive Charging Supplier, Five-Year Procurement Tops RMB 700 Million; Shares Jump Over 16% in Early Trading

Stock News12:00

ZHIDA TECH (02650) surged more than 16% in early trading. As of press time, the stock was up 12.67% at HK$7.245, with turnover of HK$233 million.

On the news front, ZHIDA TECH recently announced that, through its Saudi partner, it has become the first batch of exclusive suppliers of charging products for CEER, Saudi Arabia's first domestic automobile brand, providing a series of products including portable charging devices, household AC charging piles, DC charging piles, and charging supporting cables.

According to estimates, the total expected procurement scale of the charging category over the next five years exceeds RMB 700 million. The relevant products have completed batch trial production review at the company's factory in China, and ZHIDA will push for localized production of the products in Saudi Arabia within the next six months.

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