On the evening of yesterday (5), Huati Technology announced that it had signed a cooperation agreement on the 5G multi-pole-in-one smart street lamp construction project. The total investment of the project is about 150 million yuan. Follow-up Huati Technology will actively participate in the bidding of this project.

According to the announcement, Huati Technology and Shandong Shanghe County Industrial Development Investment Co., Ltd. (hereinafter referred to as “Shanghe Industrial Investment”) signed the “Shanghe County Economic Development Zone 5G Multi-Pole Integration Smart Street Light Construction Project Cooperation Framework Agreement.”

After the signing of the agreement, Shanghe Investment will carry out the selection, recruitment, and bidding of the social capital of the joint venture company in accordance with laws and regulations. The Shanghe County Economic Development Zone Management Committee plans to rebuild or build 1,500 sets (subject to actual implementation) of 5G multi-pole-in-one smart street lights through the cooperation between the government and social capital. The construction period is 1 year. The lighting part of the project construction content is to establish a single-lamp lighting management system for street lamps to realize low-carbon, energy-saving, and intelligent urban lighting.

Huati Technology stated that if the company wins the bidding for the social capital party selected by the River Industrial Investment Joint Venture, it will actively participate in bidding for this 150 million yuan smart street light project. If it can win the bid for this project, Huati Technology will cooperate fully with Shanghe Industrial Investment to establish a joint venture company.

Huati Technology stated that if this framework agreement is finally implemented, it will accelerate the process of economic and social informatization, networking, and intelligence in Shanghe County, promote the construction of smart cities, and help the county achieve economic development and transformation and upgrading. At the same time, Huati Technology will also become a beneficiary, helping it develop its smart city business and expand its market.

In addition, after the above projects have achieved good economic and social benefits, the joint venture developed by Shanghe Industrial Investment will also expand the county and surrounding markets in Shanghe County. Shanghe County is expected to build or renovate 5000 sets of 5G multi-pole smart street lights. The total investment is about 500 million yuan. Huati Technology will also actively participate in project bidding.

At present, the smart street light project of Huati Technology has been implemented in Shenzhen, Shenyang, and other cities across the country. With the promotion and application of 5G technology and the further development of the Internet of Things and other technologies, Huati Technology has increased its deployment of smart city services and has actively carried out product innovation and upgrades in response to new market needs.

According to its disclosure, Huati Technology already has some smart street lights equipped with 5G base stations. If it can win the 5G multi-pole-in-one smart street light construction project, Huati Technology’s smart city-related business performance will increase.