Wasion Holdings Surges Over 6% in Afternoon Trade on Strong Data Center Revenue Growth and Continuous Share Buybacks

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Yesterday

Wasion Holdings (03393) saw its shares climb more than 6% during the afternoon trading session. As of the latest update, the stock was up 5.61% to HK$15.06, with a trading turnover of HK$48.676 million.

According to the company's interim results, revenue generated from data center clients surged approximately 328% year-on-year to HK$1.08 billion. The firm offers AIDC clients a comprehensive digital infrastructure solution, encompassing critical power supply, power distribution, cooling systems, and management software.

During the first half of the year, new overseas orders grew 108.2% year-on-year to HK$4.44 billion. By the end of June, the company's overseas orders on hand reached HK$5.47 billion, representing a year-on-year increase of approximately 52%.

It is worth noting that Wasion Holdings has been actively repurchasing its shares recently. On September 8, the company bought back 270,000 shares, spending approximately HK$3.846 million. Over the course of this year, the firm has executed 10 buyback transactions in total, repurchasing 7.854 million shares at an aggregate cost of HK$125 million. Additionally, in June, the company announced plans to launch an open-market share repurchase program of up to HK$200 million.

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