Core Viewpoint - Weisheng Holdings (03393) shares increased by over 4%, reaching HKD 11.05, with a trading volume of HKD 8.3853 million, following the announcement of significant contract wins in the metering equipment sector [1] Group 1: Contract Wins - Weisheng Group Limited, a subsidiary of Weisheng Holdings, won a contract worth approximately RMB 201.16 million (around HKD 219.83 million) in the first batch of framework bidding results announced by China Southern Power Grid for 2025 [1] - Another subsidiary, Weisheng Information Technology Co., Ltd., secured a contract valued at approximately RMB 168.97 million (around HKD 184.65 million) [1] - The company ranked first in the total amount of contracts awarded in this framework bidding [1] Group 2: Operational Developments - According to CICC, Weisheng's new factory in Hungary has entered a normal delivery operation phase, while new factories in Indonesia and Malaysia have officially commenced operations [1] - The localization strategy is expected to enhance order volumes in Europe and Asia [1] Group 3: Market Opportunities - In the data center sector, the company is engaging in deep collaborations with global partners such as GDS, DAYONE, and Siemens [1] - The domestic market has seen a breakthrough with orders from ByteDance, and the company is actively expanding its product offerings in liquid cooling solutions in addition to power distribution systems [1] - The company is well-positioned to capitalize on the growing demand for data center construction both domestically and internationally, leveraging its customer resources, overseas supply chain support, and comprehensive solution offerings [1]

Core Viewpoint - 威胜控股's stock rose over 4% following the announcement of significant contract wins in the metering equipment sector from China Southern Power Grid, indicating strong market positioning and growth potential for the company [1] Group 1: Contract Wins - 威胜控股's subsidiary, 威胜集团有限公司, secured a contract worth approximately RMB 201.16 million (around HKD 219.83 million) from the first batch of framework bidding projects announced by China Southern Power Grid for 2025 [1] - Another subsidiary, 威胜信息技术股份有限公司, won a contract valued at approximately RMB 168.97 million (around HKD 184.65 million) [1] - The company ranked first in terms of contract value in this framework bidding [1] Group 2: Operational Developments - 中金 noted that 威胜控股's new factory in Hungary has entered a normal delivery operation phase, while new factories in Indonesia and Malaysia have officially commenced operations [1] - The localization strategy is expected to enhance order volumes in Europe and Asia [1] Group 3: Market Opportunities - In the data center sector, the company is collaborating deeply with partners such as 万国数据, DAYONE, and 西门子 to expand its overseas market presence [1] - The domestic market has seen a breakthrough with orders from 字节跳动, and the company is actively positioning itself in liquid cooling products alongside its supply and distribution systems [1] - The company is well-positioned to capitalize on the growing demand for data center construction both domestically and internationally due to its customer resources, overseas supply chain support, and comprehensive solution offerings [1]

Core Viewpoint - Weisheng Holdings has secured significant contracts with China Southern Power Grid, totaling approximately 370 million RMB, which is expected to positively impact the company's performance [1][2]. Group 1: Contract Wins - Weisheng Holdings' subsidiaries won the first batch of framework tender projects for metering equipment from China Southern Power Grid, with contract amounts of 201 million RMB and 169 million RMB respectively [2]. - The company ranked first in the total bid amount for this tender, indicating strong competitive positioning [2]. Group 2: Financial Performance - In the first half of 2025, Weisheng Holdings achieved a revenue of 4.39 billion RMB, representing a year-on-year growth of 17%, while net profit surged to 440 million RMB, a significant increase of 33% [4]. - The three core business segments of the company showed stable growth, with the smart metering solutions segment growing by 30% to 1.88 billion RMB [4]. Group 3: Business Expansion - Weisheng Holdings is actively expanding its overseas market presence, with exports reaching 1.244 billion RMB in the first half of 2025, a 19% increase year-on-year [5]. - The company has established six overseas production bases, including factories in Indonesia and Malaysia, and plans to further develop smart distribution businesses in Southeast Asia, North America, and South America [5]. Group 4: Research and Development - The company has been increasing its R&D expenditure, which reached 315 million RMB in the first half of 2025, accounting for 7.2% of its revenue [6]. - Weisheng Holdings holds over 4,000 intellectual property rights, including 2,042 patents and 1,986 software copyrights, showcasing its commitment to innovation [6].

Group 1 - The core point of the article is that Weisheng Holdings (03393) has won significant contracts in the first batch of framework bidding projects for metering equipment announced by China Southern Power Grid for 2025, with a total value of approximately RMB 3.7013 billion (around HKD 4.0448 billion) [1] Group 2 - Weisheng Group Limited, a subsidiary of the company, secured a contract worth approximately RMB 2.0116 billion (around HKD 2.1983 billion) [1] - Weisheng Information Technology Co., Ltd., another subsidiary, won a contract valued at approximately RMB 1.6897 billion (around HKD 1.8465 billion) [1] - The company ranked first in the bid amount in this framework bidding process [1]

Core Viewpoint - Weisheng Holdings (03393) has secured significant contracts from China Southern Power Grid for the 2025 metering equipment tender, indicating strong performance and market position in the industry [1] Group 1: Contract Wins - Weisheng Group Limited, a subsidiary of the company, won a contract worth approximately RMB 201.16 million (about HKD 219.83 million) [1] - Weisheng Information Technology Co., Ltd., another subsidiary, secured a contract valued at around RMB 168.97 million (approximately HKD 184.65 million) [1] - The company ranked first in the total bid amount for this framework tender [1]

（ 於開曼群島註冊成立之有限公司） （股份代號︰3393） 自 願 公 告 南 方 電 網 招 標 結 果 本公告由威勝控股有限公司自願刊發。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 威勝控股有限公司（「本公司」）董事會（「董事會」）欣然宣佈，於二零二五年九月一日，中國 南方電網公司（「南方電網」）公佈二零二五年計量設備第一批框架招標項目的中標結果，其 中本公司之附屬公司威勝集團有限公司奪得約人民幣201.16百萬元（ 約219.83百萬港元）的合 同。此外，本公司之附屬公司威勝信息技術股份有限公司亦奪得約人民幣168.97百萬元（ 約 184.65百萬港元）的合同。本公司在本次框架招標中標金額排名第一。 本 公 告 乃 承 董 事 會 之 命 而 作 出 ， 各 董 事 就 本 公 告 所 披 露 資 料 的 準 確 性 個 別 及 共 同 承 擔 責 任。 承董事會命 威勝控股有限公司 公司秘書 蔡偉龍 香港，二零二五年九月八日 於本公告 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年8月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 威勝控股有限公司 | | | | 呈交日期: | 2025年9月1日 | | | I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03393 | 說明 | 不適用 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 100,000,000,000 | HKD | | 0.01 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 100,0 ...

Core Viewpoint - Weisheng Holdings (03393) has seen a significant stock price increase of over 25% following the release of its interim results, with a current trading price of 11.19 HKD and a trading volume of 47.63 million HKD [1] Financial Performance - The company reported a revenue of 4.39 billion RMB, representing a year-on-year increase of 17.34% [1] - Net profit attributable to shareholders reached 440 million RMB, marking a year-on-year increase of 32.81% [1] Market Analysis - CICC's report indicates that Weisheng Holdings' performance exceeded expectations, driven by expansion in external markets such as communications, and better-than-industry performance in domestic meter deliveries and collections [1] - Citigroup's report highlights that the net profit for the first half of the year rose by 32.8% to 440 million RMB, surpassing the market's expectation of a full-year profit increase of 28.3% to 906 million RMB [1] Business Segments - The revenue from the smart distribution and utilization system and solutions (ADO) segment grew by 9.2% year-on-year, primarily due to strong product demand from overseas data centers [1] - Management maintains a dividend payout ratio of 50% for 2025 and capital expenditure guidance, anticipating strong performance in new orders from overseas data centers, which is expected to support a 21% growth in ADO business revenue for the year [1]

Core Viewpoint - Weisheng Holdings (03393) has seen a significant stock price increase of over 25% following the release of its interim results, indicating strong market performance and investor confidence [1] Financial Performance - The company reported a revenue of 4.39 billion RMB, representing a year-on-year increase of 17.34% [1] - Net profit attributable to shareholders reached 440 million RMB, marking a year-on-year growth of 32.81% [1] Market Analysis - CICC's report highlights that Weisheng's performance exceeded expectations, driven by expansion in external markets such as telecommunications and better-than-peer domestic meter deliveries [1] - Citigroup's analysis indicates that the net profit for the first half of the year rose by 32.8% to 440 million RMB, surpassing the market's forecast of a 28.3% increase for the full year [1] Business Segments - The revenue from the smart distribution and power supply system solutions (ADO) grew by 9.2% year-on-year, primarily due to strong product demand from overseas data centers [1] - Management maintains a dividend payout ratio of 50% for 2025 and anticipates robust new orders from overseas data centers, supporting a projected 21% growth in ADO business revenue for the year [1]

Core Viewpoint - The company reported strong financial performance for 1H25, with revenue and net profit exceeding expectations, driven by market expansion and robust demand in both domestic and overseas markets [1][2]. Financial Performance - Total revenue for 1H25 reached 4.39 billion yuan, a year-on-year increase of 17.3%, with net profit attributable to shareholders at 440 million yuan, up 32.8% [1]. - Revenue from electric AMI grew by 29.8% to 1.88 billion yuan, while communication AMI revenue increased by 12.8% to 1.30 billion yuan, and distribution ADO revenue rose by 6.1% to 1.21 billion yuan [1]. Overseas Revenue and Orders - Overseas revenue for 1H25 increased by 19.1% to 1.24 billion yuan, accounting for 28.3% of total revenue [2]. - By region, revenue from the Americas rose by 26.0% to 680 million yuan, Asia saw a significant increase of 76.2% to 290 million yuan, while Europe surged by 834% to 40 million yuan [2]. - New overseas orders for 1H25 grew by 22.9% to 2.13 billion yuan, with backlog orders up 28% to 3.61 billion yuan as of June [2]. Profitability and Cost Control - The company's gross margin stood at 35.1%, a decrease of 0.4 percentage points year-on-year, while net profit margin improved by 1.2 percentage points to 10.0% [3]. - The company achieved a reduction in expense ratio to 21.2%, down 1.6 percentage points, with decreases in sales, management, and R&D expenses [3]. Growth Outlook - The company is optimistic about growth opportunities in overseas markets and data centers, with new factories in Hungary, Indonesia, and Malaysia expected to enhance order volumes [3]. - Collaborations with major players in the data center sector, including ByteDance, are anticipated to drive further growth [3]. Profit Forecast and Valuation - The company maintains net profit forecasts of 916 million yuan for 2025 and 1.136 billion yuan for 2026, with current stock price corresponding to P/E ratios of 9.5x and 7.6x for 2025 and 2026, respectively [3]. - The target price has been raised by 22% to 12 HKD, indicating a potential upside of 25% from the current stock price [3].