en.Wedoany.com Reported - According to an announcement by Pinggao Electric on April 1, the company, along with its subsidiaries and joint ventures, has successfully won multiple key procurement projects in the State Grid's 2026 bidding rounds, with a total contract value of approximately 1.223 billion yuan. This amount accounts for 9.86% of the company's 2024 operating revenue. The awarded projects cover four major categories of the State Grid's core procurement plans for 2026, involving critical areas such as power transmission and transformation, ultra-high voltage (UHV), and external power supply supporting projects for the electrification of the Qinghai-Tibet Railway.
In the "First Public Bidding for Substation Equipment (Including Cables) for 2026 Power Transmission and Transformation Projects," Pinggao Electric, in collaboration with Henan Pingzhi High Voltage Switchgear Co., Ltd., Shanghai Pinggao Tianling Switchgear Co., Ltd., Tianjin Pinggao Intelligent Electric Co., Ltd., Henan Pinggao General Electric Co., Ltd., Pinggao Group Weihai High Voltage Electric Apparatus Co., Ltd., and the joint venture Pinggao Toshiba (Langfang) Lightning Arrester Co., Ltd., secured the bid. The awarded products include gas-insulated switchgear (GIS), circuit breakers, disconnectors, etc., with a contract value of 803 million yuan.
In the "First Public Bidding for Equipment for 2026 UHV Projects," the company, together with Pinggao Toshiba (Langfang), won the bid. The awarded products include GIS, disconnectors, and grounding switches, with a contract value of 131 million yuan.
For the "First Public Bidding for Additional Substation Equipment for the External Power Supply Supporting Project for the Electrification of the Qinghai-Tibet Railway," Pinggao Electric, along with Henan Pingzhi High Voltage Switchgear and Shanghai Pinggao Tianling Switchgear, secured the contract. The project involves products such as GIS and circuit breakers, with a value of 278 million yuan. Additionally, the company also obtained an order in the "First Direct Procurement (Single Source) of Substation Equipment for 2026 Power Transmission and Transformation Projects," with awarded products including GIS and switchgear, valued at 11 million yuan.
Headquartered in Pingdingshan City, Henan Province, Henan Pinggao Electric Co., Ltd. is a pillar enterprise for major technical equipment in China's electrical industry and a core R&D and manufacturing base for high-voltage, extra-high voltage (EHV), UHV switchgear, and complete power station equipment in China. As a leading enterprise in China's UHV and electrical switchgear sector, Pinggao Electric is a listed company controlled by China Electrical Equipment Group, with its ultimate controller being the State-owned Assets Supervision and Administration Commission of the State Council. It is a pillar enterprise for major technical equipment in the national electrical industry, specializing in the R&D and manufacturing of high-voltage, EHV, and UHV switchgear and complete power station equipment ranging from 72.5kV to 1100kV. The company holds an absolute leading position in China's UHV GIS field, with a market share of 45%-50% in DC UHV projects.
These awarded projects cover key areas such as grid upgrades, UHV construction, and supporting projects for major transportation engineering. They not only provide solid support for the company's future operating performance growth but will also further contribute to the construction of China's new power system and the optimization of its energy structure.
In the future, leveraging its profound technological accumulation and sense of responsibility as a state-owned enterprise, Pinggao Electric will continue to deepen its presence in the high-end electrical equipment field, actively participate in national major energy project construction, and inject strong momentum into the high-quality development of China's power grid and energy security. The specific performance details related to these awarded projects will be subject to the formal commercial contracts subsequently signed by the company and its official announcements.
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