HK Stock Market Move | WASION HOLDINGS(03393) morning rose more than 4% with its subsidiary winning a supply order from Brazilian electrical giant CEMIG, with a total amount exceeding 200 million Hong Kong dollars.

WASION HOLDINGS (03393) rose over 4% in the morning, and as of the time of writing, is up 4.6% at 28.18 Hong Kong dollars, with a turnover of 91.037 million Hong Kong dollars. In terms of news, WASION HOLDINGS announced that its wholly-owned subsidiary in Brazil has successfully secured a core equipment supply contract with CEMIG, a leading power group in Brazil. Weisheng Energy Brazil will be the sole designated supplier, providing intelligent grid core equipment reclosers to CEMIG, with a total amount of up to 138 million Brazilian reais, equivalent to approximately 206 million Hong Kong dollars. All equipment will be delivered in batches according to the plan over the next two years. It is worth noting that WASION HOLDINGS is planning to hold a board meeting on March 26 to approve its annual performance. The company has previously announced expectations for a net profit of approximately 1-1.06 billion Hong Kong dollars by 2025, representing a year-on-year increase of around 42% to 50%. In addition, WASION HOLDINGS has been included in the list of Hong Kong Stock Connect starting from March 9.