HK Stock Market Move | Afternoon rise of nearly 5% of WASION HOLDINGS (03393) hits new high, its ADO business subsidiary Weyuan Energy recently introduced strategic investor Bofu Investment.

WASION HOLDINGS (03393) rose nearly 5% in the final trading session, reaching a high of 17.99 Hong Kong dollars, setting a new historical high. As of the time of writing, it was up 4.37% at 17.93 Hong Kong dollars, with a turnover of 244.084 million Hong Kong dollars. In terms of news, WASION HOLDINGS recently announced that its subsidiary ADO business, the non-wholly-owned subsidiary Wei Yuan Energy, has introduced a strategic shareholder, Boyu Investment. Boyu Investment will subscribe to 48.81 million new shares of Wei Yuan Energy with a total amount of RMB 380 million, accounting for approximately 8% of its expanded share capital, valuing Wei Yuan Energy at approximately RMB 4.75 billion. Guotou Securities (International) released a research report stating that the demand for data center business is entering a boom period, driving the ADO business of WASION HOLDINGS into a rapid growth phase. The ADO business of WASION HOLDINGS is operated by the non-wholly-owned subsidiary Wei Yuan Energy. WASION HOLDINGS holds approximately 65% of the shares in Wei Yuan Energy. The bank expects WASION HOLDINGS and Boyu Investment Holdings to cooperate in industrial resources and cross-border layout, among other areas. In addition, Wei Yuan Energy is also progressing towards an A-share listing. The bank believes that a successful listing will further unlock the company's value.