Seoho Electric announced on the 24th that it has signed a supply contract worth 107.9 billion won for crane control systems (Electrical Control System for Crane) with China's SHANGHAI ZHENHUA HEAVY INDUSTRIES CO., LTD. (ZPMC).

The total value of this contract is 107,871,472,800 won. This represents a large-scale order equivalent to 92.5% of Seoho Electric's consolidated revenue for 2025 (116,625,518,085 won). The contract amount is valued at 70,174,000 USD, calculated using the base exchange rate of 1,537.20 KRW per USD on the contract signing date of June 24, 2026.

The contracting party, ZPMC, is a heavy industries company that recently recorded revenue of approximately 7.42 trillion won. The company has a track record of successfully executing similar contracts with Seoho Electric over the past three years.

The supply destination for these products is China, and the contract execution period runs from June 24, 2026, to February 20, 2028.

All payments will be made via letter of credit (L/C). Under the detailed payment terms, an advance payment of 10% of the contract amount will be received first, followed by 75% proportionate to the shipped deliveries. The remaining balance of 15% is scheduled to be paid after the completion of test operations.