(Yicai Global) May 10 -- Shares in Linyang Energy advanced today after the Chinese smart meter maker and green energy firm said that, together with Polish partner Esmetric Group, it has won the bidding for a PLN226 million (USD54 million) project to supply smart electricity meters to one of Poland’s state-owned power companies.

Linyang’s stock price [SHA:601222] closed up 2.2 percent at CNY7.88 (USD1.14).

Linyang's Lithuanian unit Elgama and Esmetric will supply PGE Dystrybucja with monophase and three-phase smart meters, the Qidong, eastern Jiangsu province-based firm said yesterday.

The meters will be delivered over a period of 18 months and the estimated value of the project is 7.4 percent of the company’s revenue last year, it added. No further details were given, including the financial arrangement with Warsaw-based Esmetric.

Linyang’s exports of smart meters surged 28 percent in 2022 from the year before, according to its annual financial report. Last year it shipped over 800,000 smart meters to central and eastern Europe. The firm's products can be found in more than 30 countries and regions.

Editor: Kim Taylor