Core Insights - XJ Electric, a leading company in the power equipment sector, has won a significant contract worth 1.518 billion yuan from the State Grid Corporation of China for high-voltage direct current transmission products [1][2] - The company has shown strong market expansion, with contract liabilities reaching 2.176 billion yuan by the end of Q3 2025, reflecting a year-on-year growth of 15.27% [1][2] - XJ Electric has invested heavily in R&D, totaling 3.604 billion yuan over the past five years, resulting in the development of six core technologies [1][5][7] Financial Performance - For the first three quarters of 2025, XJ Electric reported a net profit attributable to shareholders of 900 million yuan, a year-on-year increase of 0.75%, marking six consecutive years of profit growth [1][2] - The company's revenue for the same period was 9.454 billion yuan, a slight decline of 1.38% year-on-year, while the net profit excluding non-recurring items reached 877 million yuan, up 1.48% [2][3] - From 2018 to 2024, XJ Electric's revenue surged from 8.217 billion yuan to 17.09 billion yuan, an increase of 107.98%, and net profit rose from 200 million yuan to 1.117 billion yuan, a growth of 458.5% [3][4] Business Operations - XJ Electric focuses on five core business areas: ultra-high voltage, smart grid, renewable energy, electric vehicle charging, and industrial intelligence, along with emerging sectors like advanced energy storage and hydrogen energy [5][6] - The company has a diverse product range, including smart distribution systems, direct current transmission systems, smart meters, and electric vehicle charging equipment, which are widely used across various segments of the power system [5][6] - As of Q3 2025, XJ Electric's total assets reached 26.3 billion yuan, an increase of 11.55% year-on-year, achieving a historical high [6]

Core Insights - XJ Electric has won a bid for the State Grid Corporation of China's 2025 sixth batch procurement, specifically for ultra-high voltage projects, with a total contract value of 1.518 billion yuan [2] Group 1: Bid Details - The total amount for the bid won by XJ Electric is 151,837.71 million yuan [2] - The products included in the bid are converter valves, direct current control protection systems, and measuring devices [2] - The breakdown of the bid amounts includes: converter valves at 117,407 million yuan, direct current control protection systems at 21,368.66 million yuan, and measuring devices at 13,062.05 million yuan [2]

Core Viewpoint - XJ Electric Co., Ltd. has won a bid for the State Grid Corporation of China's 2025 64th batch procurement, specifically for products related to direct current transmission [1] Group 1: Bid Details - The total amount of the bid won by XJ Electric is 1,518.3771 million yuan [1] - The products included in the bid are converter valves, direct current control protection systems, and measuring devices [1] - The breakdown of the bid amounts includes 1,174.07 million yuan for converter valves, 213.6866 million yuan for direct current control protection systems, and 130.6205 million yuan for measuring devices [1]

Core Viewpoint - XJ Electric has won a bid for the State Grid Corporation of China's 2025 sixth batch procurement, specifically for ultra-high voltage project equipment, amounting to 1.518 billion yuan [1] Group 1 - The total amount of the bid won by XJ Electric is 1.518 billion yuan [1] - The products included in the bid are converter valves, direct current control protection systems, and measuring devices [1]

Group 1 - The company, XJ Electric (000400.SZ), has won a bid for the State Grid Corporation of China's 2025 64th batch procurement project, specifically for ultra-high voltage projects [1] - The total amount of the bid for the related direct current transmission products is 1.518 billion yuan [1] - The products included in the bid are converter valves, direct current control protection systems, and measuring devices [1]