Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>Equity placement was fully subscribed, raising around HKD 1.5 bn, for Magnetic Latching &amp; HVDC that is critical for green energy grids and AI data center power efficiency.</li>
<li>
<a href="https://www.smartkarma.com/entities/wasion-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:421:1" rel="noopener">Wasion Group Holdings (3393 HK)</a> has moved from Smart Power meter to AI data center cooling solution provider with a much bigger total addressable market. </li>
<li>The company realistically can get a grip of the 65% fragmented total addressable market in the AI space to justify the current valuation level. </li>
</ul>


Equity placement was fully subscribed, raising around HKD 1.5 bn, for Magnetic Latching &amp; HVDC that is critical for green energy grids and AI data center power efficiency.

Wasion Group Holdings (3393 HK) has moved from Smart Power meter to AI data center cooling solution provider with a much bigger total addressable market. 
The company realistically can get a grip of the 65% fragmented total addressable market in the AI space to justify the current valuation level. 


Wasion (3393): Placement + Achievable New Focus

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hang Seng Index (HSI INDEX)</a> has announced that Wasion will be included in the index effective the 9th of March 2026. </li>
<li>Typically, this spurs inflow into the stock; thus, it is very likely that <a href="https://www.smartkarma.com/entities/wasion-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:421:1" rel="noopener">Wasion Group Holdings (3393 HK)</a> share price will rise. </li>
<li>The question is when to lock in some profit—is it soon or just before the index inclusion date?</li>
</ul>



Hang Seng Index (HSI INDEX) has announced that Wasion will be included in the index effective the 9th of March 2026. 
Typically, this spurs inflow into the stock; thus, it is very likely that Wasion Group Holdings (3393 HK) share price will rise. 
The question is when to lock in some profit—is it soon or just before the index inclusion date?


<ul>
<li>
<a href="https://www.smartkarma.com/entities/wasion-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:421:1" rel="noopener">Wasion Group Holdings (3393 HK)</a>has filed an application to spin off its subsidiary, Wayon Energy. </li>
<li>The average valuation of its peers including <a href="https://www.smartkarma.com/entities/infineon-technologies-ag-b186d688-4649-4d6c-b335-f0eb2aa73c27" target="_blank" data-smartkarma-citation="entities:28576:1" rel="noopener">Infineon Technologies (IFNNY US)</a> , <a href="https://www.smartkarma.com/entities/stmicroelectronics-nv" target="_blank" data-smartkarma-citation="entities:21227:1" rel="noopener">STMicroelectronics NV (STM IM)</a> and <a href="https://www.smartkarma.com/entities/starpower-semiconductor-ltd" target="_blank" data-smartkarma-citation="entities:30089:1" rel="noopener">StarPower Semiconductor (603290 CH)</a> is 27x PER and 4.3x P/S. </li>
<li>Further upside of around 20-50% is expected based on the current data. More details to be provided upon further disclosure. </li>
</ul>



Wasion Group Holdings (3393 HK)has filed an application to spin off its subsidiary, Wayon Energy. 
The average valuation of its peers including Infineon Technologies (IFNNY US) , STMicroelectronics NV (STM IM) and StarPower Semiconductor (603290 CH) is 27x PER and 4.3x P/S. 
Further upside of around 20-50% is expected based on the current data. More details to be provided upon further disclosure. 


Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wasion-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:421:1" rel="noopener"><strong>Wasion Group Holdings (3393 HK)</strong></a>, an energy solutions provider, has proposed the spin-off and separate listing of Wayon Energy Technology on the HKEx. </li>
<li>Wayon Energy provides solutions to electricity from power plants and batteries to high-demand facilities such as a data centres.</li>
<li>Wayon Energy's listing form (<strong><a href="https://www1.hkexnews.hk/app/sehk/2026/108146/documents/sehk26012700546.pdf" target="_blank" rel="noopener">Form A1</a></strong>) has now been submitted to the HKEx. Wasion's bottom line growth is strong. Wayon's are stronger, but margins are a tad weaker.  </li>
</ul>



Wasion Group Holdings (3393 HK), an energy solutions provider, has proposed the spin-off and separate listing of Wayon Energy Technology on the HKEx. 
Wayon Energy provides solutions to electricity from power plants and batteries to high-demand facilities such as a data centres.
Wayon Energy's listing form (Form A1) has now been submitted to the HKEx. Wasion's bottom line growth is strong. Wayon's are stronger, but margins are a tad weaker.  


Wasion Group (3393 HK): Trading Rich Ahead Of Energy Solutions Play Spin-Off

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wasion-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:421:1" rel="noopener">Wasion Group Holdings (3393 HK)</a> green business as a smart power meter producer has helped them to increase their market value thanks to the higher demand. </li>
<li>Management is committed to growing the firm, as proven by their commitment not to sell any shares even after the share price increased 200% in the past year. </li>
<li>Boyu Capital's injection to the Wayon Energy Business ihas validated the prospect of Wasion's subsidiary, Wayon Energy, in the AI space and , and create a value unlockinng potential. </li>
</ul>



Wasion Group Holdings (3393 HK) green business as a smart power meter producer has helped them to increase their market value thanks to the higher demand. 
Management is committed to growing the firm, as proven by their commitment not to sell any shares even after the share price increased 200% in the past year. 
Boyu Capital's injection to the Wayon Energy Business ihas validated the prospect of Wasion's subsidiary, Wayon Energy, in the AI space and , and create a value unlockinng potential. 


Wasion Holdings (3393): More than Smart Power Meter

Hong Kong

Wasion is a leading total solution provider of advanced metering, advanced distribution, and energy efficiency management in China. The company offers smart meters for electricity, water, gas, and heat, along with power quality monitoring devices, energy data collection terminals, and smart power distribution devices. Headquartered in Hong Kong, the company was founded in 2000.

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Wasion (3393 HK)

Wasion (3393): Placement + Achievable New Focus

Mgt issue share placement (at the right time) to finance their expansion on the new business unit that is apparently do-able to convert to success...

Henry Soediarko

Wasion Holdings (3393): Index Inclusion

Hang Seng Index adds Wasion Holdings, this will boost share price and. The question is when to sell? Or shall investors sell completely?

Henry Soediarko

Wasion (3393): Spin off Is Happening

Wasion Group Holdings (3393 HK) applies to spin off Wayon Energy, with potential 20-50% upside based on peer valuations. More details pending...

Henry Soediarko

Wasion Group (3393 HK): Trading Rich Ahead Of Energy Solutions Play Spin-Off

Wasion's share price is up >200% in one year, and trailing/fwd metrics are also up 200% on its five-year averages. Wayon is an interesting spin...

David Blennerhassett

Wasion Holdings (3393): More than Smart Power Meter

Wasion Group Holdings' green business focus on smart power meters drives market value growth, with management's commitment and Boyu Capital's...

Henry Soediarko

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Wasion (3393): Placement + Achievable New Focus

Mgt issue share placement (at the right time) to finance their expansion on the new business unit that is apparently do-able to convert to success...

Henry Soediarko

Wasion Holdings (3393): Index Inclusion

​Hang Seng Index adds Wasion Holdings, this will boost share price and. The question is when to sell? Or shall investors sell completely?

Henry Soediarko

Wasion (3393): Spin off Is Happening

​Wasion Group Holdings (3393 HK) applies to spin off Wayon Energy, with potential 20-50% upside based on peer valuations. More details pending...

Henry Soediarko

Wasion Group (3393 HK): Trading Rich Ahead Of Energy Solutions Play Spin-Off

Wasion's share price is up >200% in one year, and trailing/fwd metrics are also up 200% on its five-year averages. Wayon is an interesting spin...

David Blennerhassett

Wasion Holdings (3393): More than Smart Power Meter

​Wasion Group Holdings' green business focus on smart power meters drives market value growth, with management's commitment and Boyu Capital's...

Henry Soediarko

Hang Seng Index adds Wasion Holdings, this will boost share price and. The question is when to sell? Or shall investors sell completely?

Wasion Group Holdings (3393 HK) applies to spin off Wayon Energy, with potential 20-50% upside based on peer valuations. More details pending...

Wasion Group Holdings' green business focus on smart power meters drives market value growth, with management's commitment and Boyu Capital's...