On May 29, Wasion Holdings fell 5.21% in regular trading, trading at HK$21.54/share, with trading volume of HK$302 million. The stock extended its multi-day selloff following an initial surge on May 26.
The decline reflects a continued correction after the company announced on May 26 that its subsidiary Wayon Energy had secured new overseas contracts exceeding RMB 1.6 billion year-to-date, primarily covering data center critical infrastructure solutions and overseas power distribution products including reclosers. That announcement had driven shares up over 5% to approximately HK$25. However, the positive catalyst has since been fully priced in. A JPMorgan research note indicated that Q1 strong orders and optimistic expectations had already been absorbed by the market, with limited short-term catalysts ahead.
Notably, Chairman Ji Wei purchased 200,000 shares on May 27 at HK$23.2 per share, totaling HK$4.64 million, raising his stake to 51.66%. Despite this insider buying, shares have continued to slide, with the current price now well below his acquisition cost.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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