Wasion Secures 1.3 Billion Yuan in Middle East Orders, Wins US Meter Certification

MT Newswires Live10-12

Wasion (HKG:3393) secured smart grid orders worth about 1.25 billion yuan from power utilities in emerging Middle Eastern markets, according to a Monday filing with the Hong Kong stock exchange.

The Middle East contracts mainly cover metering products and services, including smart meters, with deliveries and revenue recognition expected to be spread over three years.

Separately, the company said AMI meters made by its wholly owned subsidiary, Wasion Americas, had passed certification by the American National Standards Institute (ANSI), meeting applicable US requirements for meters used in electricity trade settlement.

Wasion said the certification marks a step forward in its expansion into North America, where stringent technical standards and market-entry requirements apply.

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