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- X2M Connect (X2M) expands its presence in China and Taiwan after securing three new contracts
- Two of the orders come from China for the company’s hardware and accessories and are valued at about $1 million
- The third order comes from the Taiwanese Government’s Electronics Testing Center and relates to energy management
- This is worth about $120,000 and follows on from an initial order made from the organisation
- Shares in X2M end the day in the grey, trading at 10 cents
Australian-based Internet of Things technology company, X2M Connect (X2M) has expanded its presence in China and Taiwan after securing three new contracts.
Two of the orders come from China for the company’s hardware and accessories and are valued at about $1 million.
These orders are consistent with the X2M’s China market growth strategy, with $3.3 million in revenues coming from the country in FY22.
The third order comes from the Taiwanese Government’s Electronics Testing Center and relates to energy management.
This is worth about $120,000 and follows on from an initial order made from the organisation.
CEO Mohan Jesudason said the new contracts highlight the successful execution of its strategy.
“These Asia-based contracts represent further steps in our efforts to validate the X2M strategy,” he said.
“We are thrilled with the growth that continues to be recorded by our Greater China business.”
Shares in X2M have ended the day in the grey, trading at 10 cents.
