HK Stock Market Move | WASION HOLDINGS (03393) rises by over 5%, continues to expand overseas business, has signed overseas large contracts totaling 852 million yuan within the year.

WASION HOLDINGS (03393) rose by more than 5%, reaching 5.01% at the time of publication, to 8.81 Hong Kong dollars, with a turnover of 32.2494 million Hong Kong dollars. In terms of news, WASION HOLDINGS announced that the company has won 3 overseas market contracts so far this year. Among them, the subsidiary of the company, Weisheng Mexico, signed a smart meter supply agreement with the Mexican Federal Electricity Commission (CFE) on June 26, with a contract value of over 238 million RMB. Weisheng Mexico won a supply agreement with CFE worth over 552 million RMB on March 25, and the company has won a total of approximately 791 million RMB in Mexico by 2025. In addition, WASION HOLDINGS' subsidiary, Weisheng Tanzania, won a smart meter contract worth about 61 million RMB with Tanzania Electric Supply Company Limited on June 10. The company stated that CFE, one of the contracting parties, is the dominant player in the Mexican electricity industry, established and owned by the Mexican government, and has a large amount of electricity generation and the entire transmission and distribution system in Mexico. It is the only operator of the national grid, providing integrated generation, transmission, and distribution services for approximately 50 million users. The other contracting party, Tanesco, is the only state-owned electricity company in Tanzania, serving about 15 million users locally. The company has obtained 3 large smart meter contracts worth over 852 million RMB in key emerging markets overseas, further enhancing the internationalization of the group's brand.