New contracts signed in China and Taiwan

Highlights

•  New China contracts boost country revenue by 43%.
•  New contract wins in China valued at approximately A$1 million.
•  Take the number of contract wins in this all-important Asian market to eight.
• Inclusive of these new contracts, X2M Connect’s China-based revenues over financial year 2022 (FY22) to date exceed $3.3 million.
• Second Taiwan contract win with the Government owned Taiwan Electronic Testing Center validates X2M’s energy management solution.

The China contracts further strengthens X2M’s working relationship with LianQing

The new China contracts, valued at a total of approximately A$1 million, will see LianQing acquire water quality sensor hardware and related accessories. They follow on from earlier contracts with LianQing announced in March 2022 (see X2M ASX Announcement dated 28 March 2022). Inclusive of these prior contracts, over A$3.3 million of revenues are now expected to be earned from X2M’s China operations during FY22, a figure more than triple the Company’s FY21 China revenues.

ASX announcement: Asia footprint continues to build with new contracts signed in China and Taiwan