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Shares of Sanxing Medical Electric reached their maximum daily trading limit after the Chinese power equipment manufacturer announced a significant breakthrough in the Western European market. The company secured a transformer order valued at EUR 117 million (approximately USD 136.5 million) from a Dutch distribution system operator.
As of 2:15 p.m. in Shanghai, Sanxing Medical’s stock increased by 10 percent, trading at CNY 29.41 (around USD 4.26) per share. The company’s Swedish subsidiary has entered into an agreement to supply oil-immersed transformers to Enexis Netbeheer, a leading utility company based in Ningbo. The announcement made yesterday did not disclose specific details such as product specifications, quantities, or delivery timelines.
Oil-immersed transformers are crucial components in energy infrastructure, primarily used in power grid distribution, industrial applications, renewable energy projects, and infrastructure development. Enexis Netbeheer specializes in constructing, maintaining, and expanding power and gas distribution networks, as well as offering related services, according to the company.
Last year, Sanxing Medical generated about 80 percent of its revenue from power equipment. The company has made notable progress in Europe and Latin America, securing large-scale transformer supply contracts in Greece, Mexico, and Brazil during 2024. This recent deal represents a significant step forward in establishing a strong presence in the high-end power distribution market across Western Europe.
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