Zhefu Holdings Wins Bid for the Water Turbine Generator Set Procurement Project, Amounting to 412 Million Yuan

Source: Shanghai Securities News · China Securities Journal

Shanghai Securities News, China Securities Journal News: Zhejiang Fucheng Holdings announced on the evening of March 15 that it recently received a “Winning Bid Notification” from the project bidding agency Huadian Tendering Co., Ltd. The company has been confirmed as the winning bidder for the bidding project of the water turbine generator units and their auxiliary equipment at the Changbo Water Diversion Hydropower Station upstream of the Jinsha River. The transaction counterpart is Huadian Jinsha River Upstream Hydropower Development Co., Ltd. Changbo Branch. Both parties will sign a formal procurement contract as soon as possible.

The announcement disclosed that the project bid involves four sets of 185MW capacity mixed-flow hydropower generator units and their auxiliary equipment at the Changbo Water Diversion Hydropower Station upstream of the Jinsha River, with a total bid amount of 412 million yuan. The items are scheduled to be delivered gradually from December 2026 to February 2029 (subject to official notification from the transaction counterpart) in accordance with the procurement contract.

The announcement shows that the Changbo Hydropower Station is located on the upper mainstream of the Jinsha River at the border of Sichuan Province and Tibet Autonomous Region. It is the 11th stage of the “One Reservoir, 13 Levels” development plan for the upper Jinsha River section. Upstream is the Suwalong Hydropower Station under construction, and downstream is the Xulong Hydropower Station. The station’s annual power generation exceeds 4.3 billion kWh, serving as a power source for the “West-to-East Power Transmission” project, supporting the Sichuan-Tibet integrated water, wind, and solar demonstration base, and helping regional power grid peak shaving and clean energy absorption.

Zhejiang Fucheng Holdings’ business mainly involves clean energy equipment and hazardous waste resource utilization. In the field of clean energy equipment, the company’s large and medium-sized hydropower generator units include various models such as Francis, axial-flow, mixed-flow, and impulse turbines, widely used in large and medium-sized hydropower projects domestically and internationally. Pumped storage generator units, a key business area developed in recent years, have formed a complete R&D and manufacturing system with an annual production capacity of 20 sets.

The company stated that the total bid amount this time accounts for approximately 1.97% of its projected revenue for 2024. With a delivery period of 27 months, this averages to about 0.73% of the 2024 revenue. The company will produce components according to the delivery schedule and recognize sales revenue accordingly, which is expected to increase its sales revenue and net profit from 2027 to 2029. (Xu Yu)