Hong Kong Stock Market Moves: Wasion Holdings Surges Over 3% After Subsidiary Secures Equatorial Energia Recloser Supply Contract

Stock News

Aug 12

Wasion Holdings (03393) shares climbed more than 3%, trading up 2.81% at HK$19.41 as of the latest update, with turnover reaching HK$26.905 million.

On the news front, Wasion Holdings recently announced that its subsidiary, Weiyuan Energy Technology Co., Ltd., through its Brazilian entity WASION ENERGIA DO BRASIL LTDA, secured a contract from Equatorial Energia in August 2026 to supply reclosers. The total contract value is approximately 110 million Brazilian reais (around RMB 145 million or HK$168 million).

Equatorial Energia is one of Brazil's largest comprehensive infrastructure and integrated energy groups, and a highly representative integrated utility company in the Latin American capital market. It holds a core position across multiple sectors in Brazil, including electricity distribution, transmission, renewable energy generation, energy trading, and water and basic sanitation.

The recloser is a flagship product within the group's smart grid solutions, designed to enhance the automation level and power supply reliability of distribution networks. The management firmly believes that winning this bid will further strengthen the group's business foundation in overseas markets and positively impact its long-term growth.

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