Alto Electronics announced today (22) that the company's wholly-owned subsidiary Shenzhen Qianbaihui Lighting Engineering Co., Ltd. (hereinafter referred to as “Qianbaihuiâ€) recently received the notice of winning the bid from the Ningbo Municipal Engineering Office. book". The notice confirms that Qianbaihui is the winning bidder for the V section of the “Building Landscape Lighting Improvement Project along Zhongshan Road†in Ningbo City.
The price of the project is 62,887,266.00 yuan, and the construction period is 120 days. According to the company, the total investment amount of the project accounted for 13.76% of the company's 2016 audited operating income of 457,079,739.05 yuan, accounting for 40.13% of the annual audited operating income of Qianbaihui in the year of 156,718,868.86 yuan. If the successful bidding project finally signed the formal contract and was successful. Performance is expected to have a positive impact on the company's 2017 annual operating results.
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