WASION HOLDINGS (03393) rose nearly 6% in the morning session, reaching a high of HK$23.2 and continuing to refresh its historical peak. As of writing, the stock was up 5.94% at HK$23.2, with a turnover of HK$96.541 million.

On the news front, the State Grid's fixed asset investment scale for the "16th Five-Year Plan" period has increased by over 40% compared to the "14th Five-Year Plan," hitting a record high.

Guotou Securities International stated that the substantial growth in State Grid investment directly benefits the power equipment sector and continues to recommend WASION HOLDINGS.

The brokerage pointed out that the company is a leading enterprise in smart meters and a core supplier to the State Grid; with the increase in the State Grid's investment scale, smart meter investment is expected to enter a prosperous phase, and WASION HOLDINGS' revenue and profit are anticipated to maintain rapid growth.

It is worth noting that WASION HOLDINGS recently announced that its non-wholly-owned subsidiary, Weiyuan Energy, under its ADO business, has introduced strategic investor Boyu Investment.

The brokerage indicated that the capital and industrial resource collaboration between Weiyuan Energy and Boyu Investment, leveraging Boyu's extensive presence in data centers, technology, new energy, and its cross-border investment experience, is expected to effectively empower the company's business expansion, enhance market competitiveness, and help accelerate its global layout.

WASION HOLDINGS' ADO business, driven by strong demand from data centers, is entering a period of rapid growth and is becoming a significant engine for the Group's overall business growth.