(Yicai) Sept. 24 -- Shares in Sanxing Medical Electric soared by the daily trading limit today after the Chinese supplier of smart meters and other power equipment said that a subsidiary has won a USD132 million contract to supply transformer equipment for the energy storage system of a data center in the United States.

Sanxing Medical’s share price [SHA:601567] surged 10 percent to reach CNY16.25 (USD2.42).

AUX Smart Technology has secured a contract to supply oil-immersed transformers for an energy storage system at a US data center, Sanxing Medical said yesterday.

The contract value represents 6.1 percent of the Ningbo-based company's audited operating revenue in the fiscal year 2025 and is expected to have a positive impact on its financial performance, the firm said, without disclosing any further details such as the name of the customer, transformer specifications, supply volumes or the delivery schedule.

The contract marks an important breakthrough in Sanxing Medical’s efforts to tap the US data center market, it said. It will help the company further expand its overseas business footprint and enhance its competitive advantage in international markets.

Sanxing Medical's oil-immersed transformers are primarily used in grid distribution, industrial applications, renewable energy and infrastructure. In March, the firm secured a total of EUR117 million (USD133 million) in orders from Dutch distribution network operator Enexis Netbeheer, marking its first breakthrough in the high-end power distribution equipment market in Western Europe. In June, it won another order of EUR13.7 million (USD15.6 million) from Finnish power utility Caruna.

Rapid growth in demand for artificial intelligence computing power has fueled a global data center construction boom, boosting demand for related equipment. Another firm, Yantai Jereh Oilfield Services Group, which is a supplier of equipment for the oil and gas industry, has signed five contracts to supply gas turbine generator sets to several US data centers since November 2025, with a total order value of USD2.2 billion.

Editor: Kim Taylor