(Yicai) April 15 -- Shares of Sanxing Medical Electric surged after the Chinese medical and power equipment firm received its first electricity transportation equipment order.

Sanxing [SHA: 601567] closed 6.9 percent up at CNY34.75 (USD4.80) in Shanghai today, after earlier gaining as much as 8.8 percent.

Sanxing’s Swedish subsidiary Sanxing Electric Sweden won a EUR59 million (USD62.5 million) bid for a power transformer supply project of Hellenic Electricity Distribution Network Operator, a unit of Greece’s Public Power, the Ningbo-based parent company said in a statement late yesterday.

The announcement did not mention any details about the project, but specified that the order value amounts to 5.1 percent of the company’s annual revenue in 2022, Sanxing noted.

The order will positively impact the firm’s performance this year, help it improve its overseas business, and strengthen its competitiveness in international markets, Sanxing added.

Editor: Futura Costaglione