Share price surges on Chinese smart-meter deal

PUBLISHED : Tuesday, 10 May, 2011, 12:00am
UPDATED : Tuesday, 10 May, 2011, 12:00am


Electricity, water and gas meter maker Wasion Group Holdings saw its share price surge 8 per cent to HK$4.32 after it announced it won a 274.24 million yuan contract for 1.1 million units of smart meters from State Grid Corporation of China worth 274.24 million yuan. Adding to the 165.51 million yuan tender it won in March this year, total contracts secured since the start of the year amount to 439.75 million yuan. This is equivalent to 43 per cent of its electronic meters sales last.