(Yicai Global) Dec. 26 -- Xi'an Tian He Defense Technology Co. [SHE:300397] will provide a Chinese military unit with a portable air-defense missile command system for CNY91,822,500 (USD14.02 million).
A wholly-owned subsidiary of the company signed a contract with the counterparty on Dec. 23, the defense equipment supplier said on Dec. 24.
The Shannxi-based firm did not reveal details about the command system.
The Xi'an Tian He Defense Technology unit plans to manufacture and deliver all the system's equipment before December 20 next year, when the military is set to complete its inspection and accept it.
The contract accounts for 42.49 percent of the group's audited main business revenue for last year and is expected to have a positive impact on the company's operating results this year and next, Xi'an Tian He Defense Technology said.