On June 22, Wasion Holdings rose 7.36% in regular trading, trading at HK$22.16/share, with turnover reaching HK$99.05 million as volume continued to expand significantly.
On the news front, the company announced on June 16 the launch of a share buyback plan with a total consideration of up to HK$200 million from the open market. Meanwhile, subsidiary Weiyuan Energy has secured new overseas contracts totaling over RMB 1.6 billion year-to-date, primarily covering data center critical infrastructure solutions and overseas power distribution products such as reclosers.
The stock had been under sustained pressure following an April placement of 50 million shares at approximately 6% discount via a top-up mechanism, raising around HK$1.474 billion. After the placement overhang was largely digested through consecutive declines, the dual catalysts of the buyback program and overseas order momentum have reinvigorated buying interest. The current share price remains at approximately 4.5% discount to the board chairman's recent purchase price of HK$23.2 per share.
(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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