X2M Connect signing of a new contract with Yuanda Intelligence in China

X2M Connect Limited (ASX:  X2M) announced that it has signed a new contract with Yuanda Intelligence in China.

X2M has been developing three markets in China. These are water meter and quality monitoring, remote gas monitoring, and gas leak detection. This contract is with a new customer, Yuanda Intelligence Water Technology Co., for water quality sensors, which is a similar product to some of the previous China contracts. Water quality monitoring and reporting is a significant market opportunity in China. X2M anticipates to provide the hardware this Financial Year so that revenue from this contract will be recognized by 30 June 2024.

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