XJ Electric Co Ltd

More than 5 trillion yuan of incremental grid investment during the 15th Five-Year Plan period has officially entered the implementation phase, with distribution network upgrades becoming the largest structural increment in this round of investment. Data from the National Energy Administration shows that grid investment in the first half of this year rose 13.5 percent year on year. State Grid completed fixed asset investment of more than 310 billion yuan, up 12.6 percent year on year, while China Southern Power Grid completed 89.262 billion yuan, up 14.79 percent, the highest level for the same period on record. The National Development and Reform Commission has made clear that it will plan and build a number of transmission corridors and inter-provincial power mutual support projects, and implement three major programs: upgrading urban distribution networks, renovating weak county-level grids, and addressing frequent power outages in rural grids. In the first quarter of 2026, State Grid invested 56.8 billion yuan in distribution networks, already accounting for as much as 55 percent of grid investment at all levels. According to estimates by the National Energy Administration, the 5 trillion yuan of investment will drive total upstream and downstream activity of more than 10 trillion yuan and directly create over one million jobs.

XJ Electric announced that the company and its relevant subsidiaries have won bids for the third equipment public tender procurement of State Grid's 2026 ultra-high voltage project, with a total amount of approximately 1.245 billion yuan. Among them, the company won bids for converter valves worth about 1.128 billion yuan, measuring devices worth 96.1371 million yuan, and secondary equipment worth 2.4714 million yuan. Its subsidiary, Henan XJ Electric Switchgear Co., Ltd., won a bid for switchgear worth 18.81 million yuan. The winning products cover converter valves, measuring devices, switchgear, secondary equipment, and more. The company stated that the fulfillment of the contracts will have a positive impact on future business development and will not affect business independence.