X2M on China repeat 

X2M on China repeat 

September 25, 2023 0 By Rueben Hale

Australian Internet of Things company X2M Connect (ASX:X2M) has landed two new contracts in China worth approximately A$1.1 million from LianQing, a long-time customer. 

This brings the company’s total contracts in China to A$7.6 million. X2M specialises in selling water hardware to the utility sector in China, emphasising secure channels. 

The new contracts come from its core range of water quality sensors and accessories which will be the focus of higher-margin sales in the future. 

The company said the additional contracts and existing orders are expected to generate around $7.6 million in revenues for FY24.

“These China-based contracts represent further steps in our efforts to validate the X2M strategy.

“The LianQing contracts clearly demonstrate that our stated China strategy is now being delivered.” 

X2M CEO Mohan Jesudason.

About IoT 

The Internet of Things (IoT) market refers to the industry that deals with the interconnected network of physical devices, vehicles, and other objects. These objects are embedded with sensors, software, and network connectivity to enable data exchange. This market includes applications such as smart homes, industrial automation, connected cars, wearable devices, and more. The IoT market is snowballing due to technological advancements and more connected devices.

About X2M Connect

X2M is a technology company that uses the internet to deliver productivity improvements, cost savings and improved public safety to enterprise and government customers. X2M’s current focus is servicing the utility sector in the Asia-Pacific (APAC) utility market through the provision of technology that connects devices over the internet, such as water meters and gas pressure sensors and which enables data exchange and control of these devices. This category is commonly referred to as the Internet of Things (IoT).


[mstock id=”9822″]

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified. 

We are a boutique environment – the home of uncompromisingly high-quality brands spanning news, opinion, and interaction, priding ourselves on promoting discussion and understanding that facilitates growth. We work closely with our clients to really understand what they are trying to achieve and use best practice available to do that!

Contact info

Suite 3, 47 Havelock Street
West Perth WA 6005
info@marketopen.com.au

Stewart Walters
Managing Director
stewart@marketopen.com.au
+61 414 644 166

Amanda Ellis
Chief Content Producer
amanda@marketopen.com.au
+61 438 003 868

Important links

Follow us