WASION HOLDINGS (03393) surged nearly 6% in the afternoon session, once again hitting a record high. At the time of writing, the stock was up 4.1%, trading at HK$18.27, with a turnover of HK$40.0265 million.
The recent announcement by WASION HOLDINGS revealed that its non-wholly-owned ADO business subsidiary, Weiyuan Energy, has introduced Boyu Investment as a strategic shareholder. According to the capital increase agreement, 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.
A research report from SDIC Securities (International) noted that it anticipates Weiyuan Energy and Boyu Investment will initiate collaboration on capital and industrial resources. Leveraging Boyu's extensive presence in data centers, technology, new energy, and its cross-border investment expertise, this partnership is expected to effectively empower the company's business expansion, enhance its market competitiveness, and accelerate its global strategic layout.
WASION HOLDINGS' ADO business, driven by robust demand from data centers, is entering a phase of rapid growth and is becoming a significant engine propelling the overall expansion of the group.
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