WASION HOLDINGS (03393) proposes to spin off Weiyuan Energy and list it independently on the main board of the Hong Kong Stock Exchange.

WASION HOLDINGS (03393) announced that the company has submitted a proposal for a proposed spin-off to the Hong Kong Stock Exchange in accordance with Application Guide 15 of the Listing Rules, and the Hong Kong Stock Exchange has confirmed that the company can proceed with the proposed spin-off. On January 27, 2026, Veer Energy submitted an application form (Form A1) to the Hong Kong Stock Exchange through its exclusive sponsor for the listing of Veer Energy shares on the main board of the Hong Kong Stock Exchange for trading. The proposed spin-off is currently planned to be conducted through a global offering of Veer Energy shares on the main board of the Hong Kong Stock Exchange. As of the date of this announcement, Veer Energy is a non-wholly owned subsidiary of the company, specializing in digital energy solutions in the three core areas of smart distribution networks, data centers, and new energy storage, with a solid position in the Chinese market and expanding global business footprint. After the proposed spin-off is completed, it is expected that Veer Energy will remain a subsidiary of the company.