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Subsidiary Win HK$222.73 million Contracts from Southern Grid

August 10, 2023

[Press release] For immediate release

Subsidiary Win HK$222.73 million Contracts from Southern Grid

Ranked a leading position in terms of contract value and ranked first in the smart

switch industry

(Hong Kong, 10 August 2023) Wasion Holdings Limited (the "Company", "Wasion" or the "Group"; stock code: 3393.HK), China's leading provider of energy measurement equipment and energy- saving solutions, is pleased to announce that Wasion Energy Technology Co., Ltd., a subsidiary of the Group, won contracts in the first framework tender on equipment for distribution network in 2023 from China Southern Power Grid Co., Ltd., with a total value of approximately RMB205.81 million (approximately HK$222.73 million). The Group ranked a leading position in terms of contract value in this framework tender and ranked first in the smart switch industry.

The products awarded in this bid include a range of core products developed independently by the Group, including 10kV SF6 fully insulated circuit breaker cabinet with automation system, 10kV outdoor switchgear cabinet, 10kV pole-mounted vacuum circuit breaker with automation equipment, and low-voltage switchgear cabinets. These products provide strong technical support for the stable operation of the power grid and the upgrade of digital grids.

Mr. Ji Wei, Chairman of the Group said: "Throughout this year, a series of national policies have been progressively issued to promote the advancement of new power systems, presenting clearer construction objectives and pathways, thereby further unleashing market potential. The Group actively embraces the development opportunities arising from industry transformation and proactively aligns its development strategies with evolving market regulations. Innovation in product research and development has consistently served as a crucial means for enhancing the Group's competitive edge. The success of this bid is a resounding recognition of its cutting-edge and high- quality smart grid products and exceptional customer service, garnered from key power grid customers. It also highlights the Group's prominent position as a leader in the smart grid field."

-Ends-

About Wasion Holdings Limited

Wasion Holdings is the leading provider of energy measurement equipment and energy saving solutions in the PRC. Its products and services include Power Advanced Metering Infrastructure (Power AMI), Communication and Fluid Advanced Metering Infrastructure (Communication and Fluid AMI), and Advanced Distribution Operations (ADO) (Smart Distribution Solutions (SDS), Smart Distribution Devices (SDD), and Energy Efficiency Solutions (EES). The Group's current clients include power grid companies, water, gas and heat providers, and other major industrial and commercial users. Its products have major market share in the PRC and are exported worldwide to Asia, Africa, Europe and the United States. Its research center and laboratory have been certified as national grade and meet international standards. Wasion's R&D capabilities in smart metering and energy saving solutions are renowned within the industry.

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