Wasion Holdings Limited (3393) AI Stock Analysis

• Market Cap: HK$16.09B
• Dividend Yield: 2.33%
• Average Volume (3M): 2.46M
• Price to Earnings (P/E): 18.4
• Beta (1Y): 0.61
• Revenue Growth: 20.33%
• EPS Growth: 27.05%
• Country: HK
• Employees: 5,280
• Sector: Industrials
• Sector Strength: 72
• Industry: Electrical Equipment & Parts
• EPS (TTM): 0.49
• Shares Outstanding: 995,879,700
• 10 Day Avg. Volume: 1,933,748
• 30 Day Avg. Volume: 2,456,420
• PEG Ratio: 0.28
• Price to Book (P/B): 1.22
• Price to Sales (P/S): 0.76
• P/FCF Ratio: 16.41
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$17.88
• Price Target Upside: 9.42% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: HK$18.00 ▲(10.16% Upside)

Wasion Holdings Limited's strong financial performance is the most significant factor, supported by robust revenue and profit growth. Technical analysis indicates bullish momentum, though overbought signals suggest caution. Valuation metrics are fair, with a moderate P/E ratio and a reasonable dividend yield.

Positive Factors

Revenue Growth

Strong revenue growth indicates expanding market presence and demand for Wasion's products, supporting long-term business sustainability.

Profitability

Improved profitability reflects effective cost management and operational efficiency, strengthening the company's financial foundation.

Cash Generation

Strong cash generation relative to net income highlights Wasion's ability to efficiently convert earnings into cash, ensuring liquidity.

Negative Factors

Missing Cash Flow Data

Lack of recent cash flow data hampers comprehensive financial analysis, potentially obscuring future cash management challenges.

Debt Levels

While manageable, moderate debt levels could limit financial flexibility, impacting the company's ability to invest in growth opportunities.

Equity Ratio

A relatively low equity ratio may indicate a reliance on debt financing, which could pose risks if market conditions change unfavorably.

Wasion Holdings Limited Business Overview & Revenue Model

Company Description

Wasion Holdings Limited, an investment holding company, researches, develops, produces, and sells energy metering and energy efficiency management solutions for energy supply industries in the People's Republic of China, Africa, South America, Europe, rest of Asia, the Middle East, and internationally. The company operates through three segments: Power Advanced Metering Infrastructure, Communication and Fluid Advanced Metering Infrastructure, and Advanced Distribution Operations. It offers smart meters, smart water meters, smart gas meters, and ultrasonic calorimeters; various meters and power quality monitoring devices; energy data collection terminals, load management terminals, and user management devices; and measurement automation systems and various application systems, services, and energy data mining, as well as system solution services, communication terminals, and heat meters. The company also offers high voltage switchgears, smart switchgears, circuit breakers, power distribution automation terminals, electrical and electronic devices for power quality control, and smart distribution systems, as well as engineering, energy-saving services, etc. In addition, it provides smart power distribution devices and energy efficiency solution services; and single-phase and three-phase power meters, as well as develops, manufactures, sells, and trades in electronic components. The company was formerly known as Wasion Group Holdings Limited and changed its name to Wasion Holdings Limited in June 2018. The company was founded in 2000 and is headquartered in Sheung Wan, Hong Kong. Wasion Holdings Limited is a subsidiary of Star Treasure Investments Holdings Limited.

How the Company Makes Money

Wasion Holdings generates revenue primarily through the sale of its metering products and systems, which includes smart meters and data management software. The company also earns income from providing installation and maintenance services for its products. Key revenue streams include contracts with utility companies and government agencies for large-scale metering projects, as well as collaborations with partners in the energy sector for developing and deploying smart energy solutions. Additionally, ongoing demand for smart city initiatives and energy efficiency upgrades contributes to Wasion's earnings, as utilities and municipalities invest in modernizing their infrastructure.

Wasion Holdings Limited Financial Statement Overview

Summary

Wasion Holdings Limited exhibits strong financial health with consistent revenue and profit growth. The company maintains a balanced leverage profile and demonstrates efficient cost and cash management. Despite some missing cash flow data for 2024, historical trends suggest a stable financial trajectory.

Income Statement

Wasion Holdings Limited demonstrates robust revenue growth, with a notable increase of 20.2% from 2023 to 2024. Gross profit margins are strong, maintaining 34.8% in 2024, indicating efficient cost management. The net profit margin has improved to 8.1%, showcasing enhanced profitability. EBIT and EBITDA margins are healthy at 12.5% and 13.9%, respectively, suggesting effective operational performance.

Balance Sheet

The company maintains a solid equity base with an equity ratio of 34.5%, reflecting financial stability. The debt-to-equity ratio is moderate at 48.3%, indicating manageable leverage levels. Return on equity has improved to 13%, demonstrating increased efficiency in generating profits from equity. Overall, the balance sheet reflects a strong financial position with adequate liquidity.

Cash Flow

Free cash flow growth is not available for 2024, limiting analysis on cash flow improvements. The operating cash flow to net income ratio was significant in 2023 at 2.87, indicating strong cash generation relative to net income, though operating cash flow data for 2024 is missing. The free cash flow to net income ratio was 1.79 in 2023, showing efficient cash conversion. Despite missing data for 2024, historical cash flow metrics exhibit sound cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	9.37B	8.72B	7.25B	5.86B	4.59B	3.95B
Gross Profit	3.25B	3.04B	2.58B	1.93B	1.50B	1.25B
EBITDA	1.34B	1.21B	971.22M	646.84M	469.67M	393.71M
Net Income	814.23M	705.61M	521.23M	323.80M	268.08M	231.19M
Balance Sheet
Total Assets	16.02B	15.73B	13.88B	13.03B	12.67B	11.27B
Cash, Cash Equivalents and Short-Term Investments	2.53B	2.84B	2.96B	2.10B	2.58B	2.54B
Total Debt	2.69B	2.62B	2.52B	2.68B	2.85B	2.30B
Total Liabilities	8.60B	8.41B	7.10B	6.90B	6.59B	5.59B
Stockholders Equity	5.57B	5.43B	5.17B	4.66B	4.63B	4.52B
Cash Flow
Free Cash Flow	839.35M	404.46M	932.01M	616.89M	34.97M	89.08M
Operating Cash Flow	1.01B	926.80M	1.50B	863.23M	251.62M	187.29M
Investing Cash Flow	193.20M	-171.05M	-515.79M	-678.19M	-462.57M	-554.39M
Financing Cash Flow	-517.49M	-533.54M	-480.01M	-718.77M	443.86M	591.83M

Wasion Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 16.34
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3393, the sentiment is Positive. The current price of 16.34 is above the 20-day moving average (MA) of 14.89, above the 50-day MA of 14.03, and above the 200-day MA of 10.03, indicating a bullish trend. The MACD of 0.76 indicates Negative momentum. The RSI at 66.45 is Neutral, neither overbought nor oversold. The STOCH value of 73.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:3393.

Wasion Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0842	76 Outperform	HK$2.58B	5.55	9.11%	6.11%	13.14%	-28.26%
1979	76 Outperform	HK$2.13B	5.08	22.34%	5.89%	18.32%	14.06%
3393	69 Neutral	HK$16.09B	18.38	15.02%	2.33%	20.33%	27.05%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
1729	57 Neutral	HK$32.29B	56.50	32.21%	0.18%	―	―
2188	40 Underperform	HK$279.01M	-5.67	-8.16%	―	-0.84%	42.31%
1608	38 Underperform	HK$1.22B	-16.49	-4.59%	―	>-0.01%	98.32%

Wasion Holdings Limited Corporate Events

Wasion Holdings Expands Energy Storage Operations with New Agreement

Wasion Holdings Limited, through its subsidiary Wayon Energy, has entered into a Master Agreement with Renox to supply various energy storage system products. This agreement, which involves connected transactions due to shared ownership interests, is structured to follow market-based pricing strategies and is set to last until the end of 2027. The transaction is significant for Wasion Holdings as it strengthens its market presence and operational scope in the energy storage sector, potentially enhancing its competitive positioning.

Wasion Holdings’ Subsidiary Reports Revenue and Profit Growth

Willfar Information Technology Company Limited, a subsidiary of Wasion Holdings Limited, reported an 8.80% increase in revenue and a 12.18% rise in profit for the nine months ended 30 September 2025 compared to the previous year. The financial results, which are unaudited and prepared according to PRC accounting standards, reflect the company’s growth in assets and profitability, although shareholders are advised to exercise caution as these figures do not represent the entire group’s operations.

Wasion Holdings Clarifies Share Option Scheme Details in 2024 Annual Report

Wasion Holdings Limited has provided additional information regarding its Share Option Scheme, which was adopted in 2016. As of the end of 2024, the company had 101,688,167 options available for grant under the scheme, representing approximately 10.21% of its issued shares. This announcement highlights the company’s strategic use of share options to potentially enhance stakeholder value and align employee incentives with company performance.

Wasion Holdings Secures Major Contracts in State Grid Tender

Wasion Holdings Limited announced that its subsidiaries, Wasion Group Limited and Willfar Information Technology Company Limited, have secured significant contracts in the State Grid Corporation of China’s second tender for 2025. The contracts, totaling approximately RMB165.44 million, include the supply of smart meters, low-voltage current transformers, and intelligent fusion terminals. This achievement positions Wasion Holdings as a leading supplier in the tender, with a cumulative contract value of approximately RMB397.98 million for the year, enhancing its market presence and operational growth.

Wasion Holdings Secures Major Contracts in Southern Grid Tender

Wasion Holdings Limited announced that its subsidiaries, Wasion Group Limited and Willfar Information Technology Company Limited, have secured significant contracts in the first framework tender for metering equipment by China Southern Power Grid Co., Ltd. The contracts, totaling approximately RMB370.13 million, highlight Wasion’s strong market position and its ability to secure major deals, reinforcing its leadership in the industry.