SANXING(SH:601567) Zheng Quan Shi Bao·2025-12-01 18:08Core Insights - Samsung Medical has achieved significant breakthroughs in both domestic and international power equipment markets, with contracts signed for an Indonesian electric meter project worth 160 million RMB and a pre-bid for a State Grid procurement project estimated at 124 million RMB [1][2] Group 1: International Expansion - The subsidiary's success in securing the Indonesian electric meter contract is attributed to local manufacturing capabilities, enhancing cost advantages and responsiveness in the Southeast Asian power market [1] - Samsung Medical has been actively expanding its overseas distribution market, with notable achievements in Hungary and Romania expected by mid-2025 [1] - The company is also establishing a production base in Kenya by July 2025 to support its business expansion in Africa [1] Group 2: Financial Performance - In the third quarter, Samsung Medical reported significant orders in various international projects, including 212 million RMB from the US Nexgrid smart meter framework, 185 million RMB from a smart meter project in Poland, and 419 million RMB from Egypt [2] - The company’s smart distribution and power supply business generated 6.354 billion RMB in revenue in the first half of 2025, accounting for 79.7% of total revenue, reflecting a year-on-year growth of 19.53% [2] - As of mid-2025, Samsung Medical's total orders on hand reached 17.632 billion RMB, marking an 18.39% increase year-on-year, with overseas distribution orders growing by 123.96% [3]