WASION GROUP: Awarded AMI Contract of RMB 44.13 million from Shaanxi Province - Strive to speed up business development under the Electricity Reform

【 For Immediate Release】

Awarded AMI Contract of RMB 44.13 million from Shaanxi Province

Strive to speed up business development under the Electricity Reform

(9 December 2015, Hong Kong) Wasion Group Holdings Limited ("Wasion Group", together with its subsidiaries, the "Group"; stock code: 3393.HK), a leading energy metering and energy management expert in China, is pleased to announce that the Group has won 2 contracts of RMB 44.13 million contract value under Shaanxi Province Power (Group) Company Limited. Waison was the biggest winner of the tender winning the contracts with largest contract value among peers.

Mr. Ji Wei, Chairman of the Group commented, "The Group is very honoured to win the trust of the provincial power company, allowing the Group's quality products and services to have nationwide penetration. National Development and Reform Commission as well as National Energy Administration officially announced the six major electricity mechanism reform documents last week listing the detailed guidelines for further electricity reform. The document mentioned about the gradual expansion of the reform pilot points for electrity transmission and distribution, establishment of relatively independent electricity transaction organizations, permission of direct electricity transaction between qualified users and power companies as well as prioritized electricity generation systems etc. The Group believes, these policies will boost the domestic demand for highly efficient devices and energy saving solutions which are safe, clean and reliable. Looking ahead, the market will need more quality smart meters as well as smart electricity distribution systems and solutions to achieve the ultimate goal, which in turn will bring magnificent business opportunities to the Group. The Group will, adhere to the corporate mission of being the "Energy metering and Energy Management Expert", to grow with sustained innovations and to put effort in pushing forward the development of China electricity market."

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About Wasion Group Holdings Limited Wasion Group is the leading provider of energy measurement equipment and energy saving solutions in the PRC. Its products and services include Smart Meters (SM), Advanced Metering Infrastructure Solutions (AMI), Smart Distribution Devices (SDD), Smart Distribution Solutions (SDS) and Energy Efficiency Solutions (EES). The Group's current clients include power grid companies, water, gas and heat providers, and other major industrial and commercial users. Its products have major market share in the PRC and are exported worldwide including Asia, Africa, Europe and United States. The Group owned China's very first Energy Conservation and Environmental Protection Engineering Research Center (節能環保領域工程研究中心). Its research centre and laboratory have been certified as national grade and international standards. Wasion's research and development capabilities in smart metering and energy saving solutions are renowned within the industry.

For investor inquiries, please feel free to contact Mr Dominic Wan Tel:(852) 2865 2228 Email: dominic.wan@wasiongroup.com.hk

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