Sanchuan Wisdom: Signing a 7 million U.S. Water Supply Contract for Angola

[China Instrument Network Instrumentation Enterprise] On April 6, 2017, Sanchuan Wisdom issued a public notice that the company and Angola's national public water company signed the "national public water company and Sanchuan Wisdom Technology Co., Ltd. smart prepayment meter supply contract" (below Abbreviated as "this contract" or "supply contract", this contract shall be signed and signed by both parties.

Recently, the company learned that Angolan National Public Water Company has completed the relevant approval and filing procedures for this contract, and the contract has been signed and officially entered into force. The total contract value was US$7.001 million, which was approximately RMB48 million, accounting for 6.9% of the company's 2016 audited operating revenue.

Sanchuan Wisdom Technology Co., Ltd. was established in 1971 and successfully listed on the Shenzhen GEM on March 26, 2010. It became the first domestic listed company with water meter as the main industry. It is mainly engaged in the R&D, manufacturing, and sales of water meter, hydraulic products and water division application management systems. There are six core products: Internet of Things meter, smart card meter, photoelectric direct-reading remote meter, ultrasonic remote meter, stainless steel meter, H4000P industrial meter. Product coverage in mainland China, exported to Southeast Asia, Europe, the Americas, Africa and other overseas markets. The water meter production and sales volume ranked first in the country and top three in the world for more than ten consecutive years.

The performance of this contract can achieve the extension of the value chain of the water sector in the Republic of Angola, and then implement the smart prepaid plan in the Republic of Angola. As a result, strong demonstration effects have been formed in water-scarce regions such as Africa, providing an extremely beneficial business model for the company's smart water meters to expand overseas markets in Africa, the Middle East and other regions.

(Original Title: Sanchuan Wisdom Signs 48 Million Yuan Intelligent Prepaid Water Meter Supply Contract)