HK Stock Market Move | WASION HOLDINGS(03393) falls by over 10%. It previously announced plans for a rights issue financing of HK$1.5 billion to expand into overseas markets.

WASION HOLDINGS (03393) fell by more than 10%, reaching a 10.46% decrease as of the time of publication, closing at 25.16 Hong Kong dollars with a trading volume of 176 million Hong Kong dollars. In terms of news, WASION HOLDINGS announced that it plans to sell up to 50 million shares at a price of 30 Hong Kong dollars per share, with a net proceeds of 1.474 billion Hong Kong dollars. 33.92% of the proceeds will be used to expand overseas markets such as North America, Europe, and South Africa; approximately 14.93% of the funds will be invested in magnetic maintenance and high-voltage direct current business, while the remaining funds will be used for domestic research and development, intelligent manufacturing investment, acquisition of energy management digital companies, repayment of bank loans, and general operating expenses. It is worth noting that a subsidiary of WASION HOLDINGS recently won the bid for the intelligent metering project in Pakistan, with a contract value exceeding 115 million yuan. This bid fully demonstrates the technical strength and international project fulfillment capability of WASION in the field of comprehensive energy solutions. With years of experience in overseas markets, a mature product system, and a continuous push towards localization services, WASION's comprehensive competitiveness and brand influence in the South Asian market continue to improve.