Wasion Holdings, a provider of smart metering and smart power distribution solutions in China, soared 16.47% to a 25-month high at midday on Thursday. The company announced a strategic cooperation with China Power International.
Wasion Holdings’ stock price fell in early trading, and it fell by more than 7% during the session. However, the company announced after the market closed in the morning to enter into a strategic cooperation framework agreement with China Power to jointly develop new energy and photovoltaic agriculture, energy storage, green power transportation and After logistics and transportation services, it turned up in the midday and expanded, reaching a high of HK$4.03 since November 2019.
Wasion Holdings rose nearly 7% at 15:00 Hong Kong time, while China Power fell by about 1%.
The company’s initial cooperation with China Power will focus on the six provinces of Ningxia, Hunan, Gansu, Jiangxi, Shanxi and Inner Mongolia, and will expand to other regions in China and overseas. The specific terms of the cooperation are subject to further negotiation, confirmation and signing of a formal agreement between the two parties.