HK Stock Market Move | WASION HOLDINGS (03393) rises more than 4%, wins contract worth about 370 million yuan from Southern Power Grid, the company's data center business continues to break through.

WASION HOLDINGS (03393) rose more than 4%, as of press time, up 4.15% to HK$11.05, with a turnover of HK$83.853 million. On the news front, WASION HOLDINGS recently announced that on September 1st, the State Grid Corporation of China announced the results of the first batch of framework tender projects for metering equipment in 2025. The company's subsidiary, Will Sheng Group Limited, won a contract of approximately RMB 201.16 million (about HK$219.83 million). In addition, the subsidiary Willfar Information Technology Co., Ltd. also won a contract of approximately RMB 168.97 million (about HK$184.65 million). The company ranked first in the bid amount in this framework tender. CICC previously pointed out that in the first half of the year, the company's new factory in Hungary entered a normal delivery and operation period, and the new factories in Indonesia and Malaysia officially started production and operation. The bank believes that localization is expected to further boost orders in the European and Asian regions. In the data center field, the company is deepening cooperation with Wanguo Data, DAYONE, and Siemens in overseas markets, and has secured orders from ByteDance in the domestic market. In addition to power distribution systems, the company is actively expanding into liquid cooling and heat dissipation related products. The company is optimistic about seizing the opportunities in domestic and international data center construction with its customer resources, overseas supply chain support, and one-stop solution advantages.