Hong Kong Stock Movement | WASION HOLDINGS (03393) Rises Nearly 5% Late Session to Another Record High, Its ADO Business Subsidiary Weiyuan Energy Recently Introduced Strategic Shareholder Boyu Investment

WASION HOLDINGS (03393) surged nearly 5% in the late trading session, reaching a high of HK$17.99 to set another historical peak. As of the time of writing, the stock was up 4.37%, trading at HK$17.93, with a turnover of HK$24.4084 million. The company recently announced that its non-wholly-owned subsidiary, Weiyuan Energy, operating the ADO business, has introduced strategic shareholder Boyu Investment. Boyu Investment will subscribe for 48.81 million new shares in Weiyuan Energy for a total consideration of RMB 380 million, representing approximately 8% of its enlarged share capital and valuing Weiyuan Energy at around RMB 4.75 billion. SDIC Securities (International) released a research report stating that demand in the data center business has entered a period of explosive growth, driving WASION HOLDINGS' ADO business into a phase of rapid expansion. The ADO business of WASION HOLDINGS is operated by its non-wholly-owned subsidiary, Weiyuan Energy. WASION HOLDINGS holds approximately 65% of the shares in Weiyuan Energy. The brokerage expects the powerful collaboration between WASION HOLDINGS and Boyu Investment to foster cooperation in areas such as industrial resources and cross-border layout. Furthermore, Weiyuan Energy is also advancing its listing on the A-share market; the brokerage believes a successful listing would further unlock the company's value.