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State Grid Corporation of China awarded 85 packages worth 8.60735 billion yuan to 63 companies for equipment procurement for the Baihetan-Jiangsu ultra-high voltage power transmission project. Major winners include China XD Electric, Shandong Power Equipment, TBEA Shenyang Transformer, and NR Electric.
NARI Technology signed a framework agreement to acquire an 87% stake in NR Electric from NARI Group Corporation and Shen Guorong for CNY 18.8 billion. The deal includes cash and stock, subject to regulatory approvals.