Received 27 million contracts but the stock price has plummeted?

Ulih Holdings (UUE, 0310, gem) announced that it has secured contracts for the testing and calibration of underground cables and accessories for 2 companies, with a total contract value of 26.93 million232 ringgit.

The above 2 companies are Komasi Engineering Sdn Bhd and Sutera Utama Sdn Bhd, with each contract priced at 13.46 million5116 ringgit respectively.

Testing and calibration of 11 kilovolt (kV) cross-linked polyethylene (XLPE) underground cables and accessories by Yuli Holdings.

The two aforementioned project contracts have a duration of 730 days, with the possibility of extension for an additional 365 days.

According to public documents from the Malaysian Exchange, the aforementioned projects have a positive impact on the performance and net assets per share of Yuli Holdings during the contract period.

Yuli Holdings was listed on the exchange on the 2nd of this month, and until last Friday, the price has risen every day since the listing; despite reaching a high stock price of 96.5 cents at one point, it could not withstand profit-taking sentiment, leading to a single-day drop of 13.5 cents or 14%.