**Overview:** Ningbo Canaan Intelligent Electric Co., Ltd. has received significant recognition in its sector with its recent announcement regarding its pre-qualification as a candidate bidder for the State Grid Corporation of China’s procurement list for 2025, which involves the first round of metering equipment procurement for marketing projects. This report outlines the details of this potential project that could have a substantial impact on the company’s financial outlook. **Key Financials:** The pre-bid projects carried out by the State Grid are estimated to have a total value of approximately 149.04 million CNY, which is projected to represent about 14.73% of the company’s audited revenue from main operations for the fiscal year 2024. This potential revenue boost indicates a promising future for the company, reflecting its solid market position in smart electric meters. **Management Commentary:** While the announcement highlights the positive development of being selected as a candidate for this significant project, management remains cautious. They acknowledge that the status is still within the announcement period, meaning the final confirmation from State Grid has yet to be received. This cautious tone suggests that while the opportunities are promising, finalization is critical for the company's financial forecasts. **Trends and Drivers:** Ningbo Canaan's potential success in this procurement can be attributed to growth in the smart meter market, driven by increased demand for efficient energy monitoring solutions and technology advancements in this area. This project, featuring various smart energy meters and collection terminals, demonstrates the company's commitment to innovation and its strong relationships with major utility providers like State Grid. However, broader economic trends, such as fluctuations in demand for energy efficiency technologies, will play a vital role in influencing growth. **Risks and Outlook:** Despite the positive implications of their pre-bid status, several risks need to be addressed. The current uncertainty regarding the receipt of an official bid confirmation poses a significant challenge, which may affect investor confidence. Furthermore, market competition and potential delays in procurement processes could influence the company’s ability to capitalize fully on this opportunity. Investors are advised to monitor developments closely and to consider these risks when evaluating their investment strategies. **Conclusion:** Ningbo Canaan Intelligent Electric Co., Ltd.'s pre-bid selection for a major State Grid project underscores its potential in the smart energy sector, promising to enhance its financial performance if finalized successfully. However, stakeholders should remain vigilant regarding the uncertainties surrounding the final award and any market conditions that could impact the company's prospects in the coming quarters.