WASION HOLDINGS (03393) surged over 4% again, with shares up 3.78% to HK$14.26 at the time of writing, recording a turnover of HK$9.547 million.

Citi released a research report stating that, according to WASION HOLDINGS' guidance, its overseas customer orders are expected to grow 54% year-on-year to RMB 2 billion in 2026, driven by strong demand for artificial intelligence data centers (AIDC).

The bank projects that the revenue contribution from WASION's data center business will rise from 9% in 2024 to 16% in 2025 and 20% in 2026. Given the higher profitability of the AIDC segment, Citi has raised its net profit forecasts for WASION by 11% to 17% for 2025–2027.

Citi has initiated a 90-day positive catalyst watch on WASION, anticipating further profit growth in its power distribution equipment business related to AI data centers. The bank also expects the company's overseas revenue from data center operations to double from RMB 200 million in 2024 to RMB 500 million in 2025 and reach RMB 1 billion in 2026.