HK Stock Market Move | WASION HOLDINGS (03393) rose nearly 6% in the afternoon, ADO recently introduced strategic shareholders and is expected to launch capital and industry resource cooperation.

WASION HOLDINGS (03393) rose nearly 6% in the afternoon, hitting a new historical high. As of the press time, it rose by 4.1% to HK$18.27, with a turnover of HK$40.0265 million. On the news front, WASION HOLDINGS recently announced that its ADO business, a non-wholly-owned subsidiary, Weiyuan Energy, has brought in strategic investor Boyu Investment. According to their capital increase agreement, Boyu Investment will subscribe for 48.81 million new shares of Weiyuan Energy at a total amount of RMB 380 million, accounting for approximately 8% of its enlarged share capital. The valuation of Weiyuan Energy is approximately RMB 4.75 billion. Guotou Securities (International) released a research report stating that they expect Weiyuan Energy and Boyu Investment to collaborate on capital and industry resources, leveraging Boyu's extensive presence and cross-border investment experience in data centers, technology, and new energy fields to empower the company's business expansion and enhance its market competitiveness, accelerating its global layout. With strong demand in data centers, WASION HOLDINGS' ADO business is entering a period of rapid growth, becoming an important driver for the overall growth of the group.