WASION HOLDINGS

Wasion Holdings rose 1.72% to HK$17.70 today, driven by strong recent earnings that pushed morning trading as high as HK$18.49 before gradual afternoon pullback. Q4 2025 EPS surged 71.77% year-over-year and Q3 rose 62.06%, with revenue growing 19.41% and 12.66% to roughly HK$3.16 billion each quarter; net profit growth proved even steeper. The company continues securing major contracts from State Grid and Mexico's CFE, and initiated a share repurchase in June at HK$17.40. Yet current price remains 47.63% below the 52-week high of HK$33.80, trading below both the 20-day moving average (HK$18.93) and 60-day average (HK$21.51). With PE of 15.78x appearing reasonable given robust growth momentum, and having fallen only 1.56% year-to-date, market sentiment suggests digestion of the strong earnings trajectory rather than capitulation.

Wasion declined 2.3% today, with the morning session dropping over 7% to a low of HKD 16.43, followed by an afternoon rebound to close at HKD 17.40. The stock has tumbled 48.5% from its April peak of HKD 33.80, yet recent earnings remain strong: Q4 revenue reached HKD 3.16 billion (+19.4% YoY) with net profit surging 72.6% YoY and EPS at HKD 0.35 (+72% YoY), reflecting solid momentum in smart metering solutions. International contract wins—including Mexico CFE and China State Grid tenders—underpin medium-term growth expectations, while management's recent buyback at HKD 17.40 demonstrates confidence in fundamentals. Valuation metrics are reasonable with P/E of 15.5x and P/B of 2.63x, YTD down just 3.2%, though the stock now trades well below its 60-day moving average of HKD 21.67, suggesting market debate over earnings growth sustainability.

Wasion Holdings fell 10.4% to HK$17.37 amid profit-taking and valuation reappraisal. Despite robust Q4 results—EPS surged 71.77% year-over-year to HK$0.3454, net profit climbed 72.62%, and ROE hit 19.84%—the stock has retreated 48.61% from its 52-week high of HK$33.8, suggesting market doubt on earnings sustainability. JPM and peers cut target prices to HK$32 in late May while maintaining Overweight, indicating near-term upside remains constrained despite long-term conviction. Recent catalysts such as the Mexico CFE tender breakthrough (RMB695M+) and Wayon Energy's RMB1.6B+ overseas order haul, coupled with a HK$200M buyback program, reflect management confidence; yet the stock has fallen below its 20-day line (HK$19.22) and 60-day line (HK$21.995), trailing year-to-date by 3.39%. At a forward PE of 15.48x and PB of 2.63x, valuation hardly appears stretched, as the market digests the sharp pullback from historic highs.

Wasion Holdings advanced on Hong Kong's exchange, with morning session closing at HK$19.040 (up 1.5%) and afternoon session climbing to HK$19.380 (up 1.8%), delivering a 3.3% daily gain. The upside was driven by strong Q4 2025 earnings and a string of major contract wins. Q4 reported HK$3.16 billion in revenue, up 19.41% year-over-year, net profit of HK$344 million, up 72.62% YoY, and EPS of HK$0.3454, surging 71.77% YoY, reflecting robust profit momentum. Recent victories in Mexico's CFE tender and State Grid contract validate the company's competitive edge in smart metering solutions. Year-to-date the stock is up 7.79%, though still trading 42.66% below its 52-week high of HK$33.8 and hovering near the 20-day moving average of HK$19.33. At P/E of 17.27x and P/B of 2.93x, valuation sits at reasonable levels. JPMorgan maintains an Overweight stance with a HK$32 price target, while management's frequent share buybacks around HK$17.4 suggest confidence in future growth.

Wasion Holdings declined 2.95% to HKD 19.05 today, rising sharply to HKD 19.40 in the morning session before profit-taking pressures emerged in the afternoon. The intraday divergence reflects market digestion of recent major order wins announced in mid-June—including Mexico's CFE smart meter procurement exceeding RMB 695 million and Wayon Energy overseas orders surpassing RMB 1.6 billion. From a valuation perspective, the stock has retreated 43.64% from its 52-week high of HKD 33.8, with year-to-date gains of only 5.95%, signaling pullback from prior euphoria. On the earnings front, Q4 2025 showed robust fundamentals: net profit of HKD 344.9 million jumped 72.62% year-over-year, EPS at HKD 0.3454 surged 71.77% year-over-year, and operating revenue grew 19.41%; current valuations of PE 16.98 and PB 2.88 remain moderate. However, the stock has broken below the 60-day moving average (HKD 22.239) and trades near its 20-day average (HKD 19.364), indicating near-term consolidation headwinds.