(Yicai Global) July 5 -- Henan Pinggao Electric Co. [SHE:600312] and its subsidiary secured three state grid equipment projects for a total of nearly CNY1.191 billion (USD175 million).

One of the projects is the procurement of integrated pipeline engineering equipment for an ultra-high voltage power transmission project, the electric equipment supplier said in a statement yesterday.

The company's operating income was CNY8.87 billion last year, and the successful bidding for the three projects will help improve its business performance in the future, Pinggao Electric noted.

Its share price edged up 0.15 percent at A-share market closing at noon today.