Recently, the strategic partners of Kaifa, International Business Machines Corporation (hereinafter referred to as "IBM")won the bids in the Netherlands Energy Network Operators" Association (hereinafter referred to as "NBNL") smart meter tender bid for contract price of approximately 340 million RMB. The project will be fully executed by Kaifa. IBM is the world"s largest information technology and business solutions company. As IBM Global smart meter terminal supplier, Kaifa has been collaborating with IBM since 2005, and has accumulated sales of smart meters to 2.1 million units, the total amount bid contracts accounted for 77.80% of 2013 annual smart meter business revenue.