CROSBY Research – Wasion Holdings (3393 HK/BUY): Capital strength and orders win fuel future growth   

14 May 2026

Wasion has secured contract wins in State Grid’s first tender, landing contracts for 827k smart meters and metering current and voltage transformers worth Rmb207.8m. Willfar Information also achieved success, winning contracts for 24k intelligent fusion terminals and specialized transformer data collection terminals valued at Rmb77.4m.