Wasion Holdings Limited (3393) announced a proposed spin-off of Wayon Energy Technology Co., Ltd. (Wayon Energy) for a separate listing on the Main Board of The Stock Exchange of Hong Kong Limited (Hong Kong Stock Exchange). According to the announcement, Wayon Energy, through its sole sponsor, submitted a listing application form (Form A1) to the Hong Kong Stock Exchange on January 27, 2026.
The proposed spin-off is intended to be conducted through a global offering of Wayon Energy’s shares. As of the announcement date, Wayon Energy is a non-wholly owned subsidiary of Wasion Holdings and is involved in digital energy solutions across segments such as smart distribution grids, data centers, and new energy storage. Following completion of the proposed spin-off, it is expected that Wayon Energy will remain a subsidiary of Wasion Holdings.
The announcement states that the proposed spin-off aims to enhance the strategic focus of both Wasion Holdings and Wayon Energy, offering them distinct fundraising platforms, optimized resource allocation, and clearer operational segmentation. Shareholders of Wasion Holdings may be entitled to participate in the offering through a preferential arrangement, subject to certain conditions and final decisions by the respective boards.
Further details, including offering size, structure, and the final shareholding percentage, have not yet been finalized. Pursuant to the Listing Rules, the Hong Kong Stock Exchange has confirmed that Wasion Holdings may proceed with the spin-off plan, and the proposed spin-off is treated as a discloseable transaction under Chapter 14 of the Listing Rules, with the applicable percentage ratios exceeding 5% but below 25%. The proposed spin-off also remains subject to approvals from the Listing Committee of the Hong Kong Stock Exchange, filing with the China Securities Regulatory Commission, and final decisions by Wasion Holdings and Wayon Energy. Investors are cautioned that there is no assurance regarding the timing or completion of the proposed spin-off. Should new developments arise, Wasion Holdings will make further announcements as appropriate.
The announcement also includes statements clarifying that the proposed spin-off does not constitute an offer in the United States or in other jurisdictions where such an offer may be prohibited. Relevant disclaimers from the Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited are provided, stating no responsibility for the accuracy or completeness of the contents of the announcement and no liability for any associated losses.
Shareholders and potential investors are advised to exercise caution when dealing in the securities of Wasion Holdings, as the proposed spin-off and global offering remain subject to the aforementioned regulatory processes and approvals.