Group 1 - The Hang Seng Index Company announced the quarterly review results for the Hang Seng Index series as of December 31, 2025, with Weisheng Holdings (03393) being included in the Hang Seng Composite Index [1] - The changes will be implemented after the market closes on March 6, 2026, and will take effect on March 9, 2026, leading to adjustments in the eligible stocks for the Hong Kong Stock Connect [1] - According to a report by CICC, Weisheng Holdings is likely to be included in the Hong Kong Stock Connect due to meeting various criteria, including market capitalization, liquidity, and listing duration [1] Group 2 - Weisheng Holdings has submitted a proposal for a spin-off to the Hong Kong Stock Exchange in accordance with Listing Rule Guidance No. 15, and the exchange has confirmed that the company can proceed with the proposed spin-off [1] - On January 27, 2026, Weiyuan Energy submitted a listing application form (Form A1) to the Hong Kong Stock Exchange through its exclusive sponsor, seeking to list and trade its shares on the main board of the exchange [1]

威胜控股公布，公司已根据上市规则第15项应用指引就建议分拆向香港联交所提交建议，而香港联交所 已确认公司可继续进行建议分拆。 于2026年1月27日，惟远能源透过其独家保荐人向香港联交所递交上 市申请表格( A1表格)，申请惟远能源股份在香港联交所主板上市及买卖。 智通财经APP获悉，2月13日，恒生指数公司宣布截至2025年12月31日之恒生指数系列季度检讨结果， 其中威胜控股(03393)获纳入恒生综合指数。变动将于2026年3月6日(星期五)收市后实施并于2026年3月9 日(星期一)起生效，届时沪深交易所会相应调整港股通可投资标的范围。据中金研报，威胜控股有可能 被调入港股通，因其满足了包括市值、流动性和上市时间等在内的一系列标准。 ...

Core Viewpoint - Weisheng has announced that the Shanghai Stock Exchange has accepted its application for the listing of Weisheng Information Technology on the Sci-Tech Innovation Board, marking a significant breakthrough since the announcement of its spin-off in January 2017, although the specific timing remains uncertain [1][3]. Company Overview - Weisheng Information Technology is engaged in two main businesses: (1) data acquisition terminals and (2) water, gas, and thermal meters. As of the announcement date, Weisheng holds a 65% stake in Weisheng Information Technology [1][3]. - The company plans to issue up to 150 million new shares to raise approximately RMB 605 million, although the exact issuance scale is yet to be determined [3]. Financial Performance - In 2018, Weisheng Information Technology reported a net profit of RMB 177 million, an increase from RMB 149 million in 2017 and RMB 80.5 million in 2016. Revenue grew from RMB 680.3 million in 2016 to RMB 1.0386 billion in 2018 [3]. - The proportion of revenue from the top five customers decreased from 76.42% in 2016 to 64.78% in 2018, indicating a diversification in the customer base [3]. Industry Dynamics - The demand for high-end measurement equipment is expected to increase as the State Grid promotes the development of a ubiquitous power IoT. New standards for measurement equipment and communication are likely to be released in 2019, creating growth momentum for Weisheng's other business segments [4]. - The upgrade of power transmission standards is anticipated to drive the next phase of growth for Weisheng, as the company will benefit from providing measurement devices with communication and sensor functions [4].

Core Viewpoint - 威胜控股's stock price reached a new historical high of 25.36 HKD, reflecting a significant increase of over 5% in early trading on February 9 [2] Group 1 - 威胜控股's stock rose by 4.32% to 25.1 HKD at the time of reporting, with a trading volume of 46.0488 million HKD [2]

Group 1 - Weisheng Holdings (03393) saw its stock price rise over 5% in early trading, reaching a new historical high of 25.36 HKD, and is currently trading at 25.1 HKD with a transaction volume of 46.0488 million HKD [1] - The company announced plans to spin off Weiyuan Energy and list it independently on the Hong Kong Stock Exchange, with strategic investor Boyu Capital involved [1] - Guotai Junan Securities (International) anticipates that Weiyuan Energy will collaborate with Boyu Capital to leverage its extensive resources in data centers, technology, and new energy sectors, enhancing the company's market competitiveness and accelerating its global expansion [1] Group 2 - It is noteworthy that the Hong Kong Stock Connect list will undergo a new round of adjustments in March 2026, with the updated list expected to be published after the market closes on February 20 and implemented after the market closes on March 6, becoming effective on March 9 [1] - Industrial Securities has released a report predicting that Weisheng Holdings is likely to be included in the Hong Kong Stock Connect list in March [1]

Core Viewpoint - Wison Holdings (03393) has seen its stock price rise over 5%, reaching a new historical high of 25.36 HKD, following the announcement of plans to spin off Weiyuan Energy for independent listing on the Hong Kong Stock Exchange [1] Company Developments - Wison Holdings announced the proposed spin-off of Weiyuan Energy, which has recently brought in strategic investor Boyu Capital [1] - The collaboration between Weiyuan Energy and Boyu Capital is expected to enhance the company's business expansion and market competitiveness, leveraging Boyu's extensive experience in data centers, technology, and new energy sectors [1] Market Context - The Hong Kong Stock Connect list is set for a new round of adjustments in March 2026, with the updated list expected to be published after the market closes on February 20 and implemented after the market closes on March 6 [1] - Industrial Securities has predicted that Wison Holdings may be included in the Hong Kong Stock Connect list in March [1]

Core Viewpoint - Weisheng Information's listing application has been approved by the Shanghai Stock Exchange, with the entire listing process expected to be completed by the end of November 2019 [1][2]. Group 1: Company Overview - Weisheng Group currently has orders worth approximately 2 billion RMB, which will support the company's revenue and profit growth in 2019 [1][3]. - The valuation of Weisheng Group is attractive, with a 2019 P/E ratio of 7.9 times and a 2020 P/E ratio of 6.2 times, along with a dividend yield of 5.9% [1][4]. Group 2: Market and Industry Insights - The opening of the electricity market is expected to benefit secondary equipment manufacturers, such as Weisheng Group, due to the cancellation of the coal-fired power price linkage mechanism starting January 1, 2020 [3]. - The investment in the power grid is anticipated to accelerate in 2019, driven by rural grid upgrades and the development of the ubiquitous power IoT [3][4]. - Weisheng Group is expected to achieve faster profit growth from 2019 to 2021 compared to 2016-2018, supported by increased grid investment and the adoption of IoT technology by enterprises [4].

Group 1: Government Initiatives - The State Council, led by Premier Li Keqiang, has decided to expedite the completion of rural power grid upgrades, aligning with the expectation of accelerated grid investment in 2019 [2] - The rural power grid upgrade targets set in the 13th Five-Year Plan are now expected to be completed a year earlier than anticipated, which is expected to drive economic growth [2] Group 2: Company Developments - Willfar Technology has applied for a listing on the Sci-Tech Innovation Board and is currently undergoing its second round of inquiries [1][3] - The spin-off of Willfar Technology is expected to unlock value from non-grid related businesses, with manageable dilution effects anticipated [1] - Willfar Technology's net profit for 2018 was RMB 177 million, an increase from RMB 149 million in 2017 and RMB 80.5 million in 2016, with revenue rising from RMB 680.3 million in 2016 to RMB 1.0386 billion in 2018 [3] Group 3: Market Outlook - The recent adjustment in Willfar's stock price is attributed to weak market sentiment rather than any fundamental changes [4] - Several catalysts are identified for Willfar, including the spin-off of Willfar Technology, accelerated power investments, and expected solid performance in 2019 [4] - The company maintains a "Buy" rating with a target price of HKD 5.43, based on a 13x P/E ratio for 2019 [1][4]

Core Viewpoint - Wasion Holdings (03393.HK) experienced a significant increase in stock price, rising over 6% in early trading, indicating positive market sentiment towards the company [1]. Group 1 - Wasion Holdings' stock price rose by 6.07%, reaching HKD 24.48 [1]. - The trading volume for Wasion Holdings was reported at HKD 35.6028 million [1].

Group 1 - Weisheng Holdings (03393) saw a nearly 6% increase in early trading, reaching HKD 24.48 with a transaction volume of HKD 35.6 million [1] - The company announced plans to spin off Weiyuan Energy for independent listing on the Hong Kong Stock Exchange, following the introduction of strategic investor Boyu Capital [1] - Boyu Capital will invest a total of RMB 380 million to subscribe for 48.81 million new shares of Weiyuan Energy, representing approximately 8% of its expanded share capital, with Weiyuan Energy valued at around RMB 4.75 billion [1] Group 2 - Guotou Securities (International) released a report anticipating collaboration between Weiyuan Energy and Boyu Capital, leveraging Boyu's extensive experience in data centers, technology, and new energy sectors to enhance business expansion and market competitiveness [1] - The strong demand for Weisheng Holdings' ADO business in data centers is entering a rapid growth phase, becoming a significant driver of overall business growth for the group [1]