Turnover of Digital Energy Services and International Business Both Doubled
Data Center Orders Surge 153% as Computing Power and Electric Power Coordination Leads a New Chapter in Digital Energy in the AI Era
Financial Highlights
- Turnover of RMB5.39 billion (same below), representing a year-on-year ("YoY") increase of 23%
- Smart Grid Solutions business recorded a turnover of RMB1.99 billion, representing a YoY increase of 6%
- Digital Energy Services business recorded a turnover of RMB2.39 billion, representing a YoY increase of 98%
- International Markets business recorded a turnover of RMB2.39 billion, representing a YoY surge of 92%
- Net profit attributable to owners of the Company was RMB446 million, representing a YoY increase of 1%
HONG KONG, Aug. 27, 2026 /PRNewswire/ — Wasion Holdings Limited ("Wasion" or the "Group"; stock code: 3393.HK), China’s leading provider of energy measurement equipment and energy-saving solutions, today announced its unaudited consolidated results for the six months ended 30 June 2026 ("the period under review").
During the period under review, the Group recorded a turnover of RMB5.39 billion, representing a YoY increase of 23%; gross profit amounted to RMB1.69 billion, representing a YoY increase of 9%; overall gross profit margin was 31.28%; and net profit attributable to owners of the Company amounted to RMB446 million, representing a YoY increase of 1%.
Energy Efficiency Holds Ample Contracts on Hand, Digital Energy Orders Up 101%
The Smart Grid Solutions (formerly known as "Power Advanced Metering Infrastructure") business recorded a turnover of RMB1.99 billion, representing a YoY increase of 6%. During the period under review, in the centralized tenders organized by State Grid, the Group’s subsidiary, Wasion Group Limited, secured contracts worth RMB309 million by virtue of its capabilities, ranking first in the industry in terms of market share; in the Inner Mongolia local power company’s centralized procurement, it won contracts worth RMB84 million, also ranking first in the industry. In the non-power grid sector, leveraging its years of technological expertise in the R&D and manufacturing of power meters, the Group completed domestic trading contracts exceeding RMB300 million, achieving rapid growth in related business and contract value; underpinned by its R&D advantages in base station photovoltaic integration and power supply products, the communications business maintained a stable market share and continued to serve as a steady source of revenue for the Group.
The AI-Integrated Energy Efficiency Solutions (formerly known as "Communication and Fluid Advanced Metering Infrastructure") business recorded a turnover of RMB1.01 billion, representing a YoY decrease of 22%, with the total value of signed contracts on hand reaching RMB3.82 billion and the total value of newly signed contracts reaching RMB1.31 billion, providing strong support for the Group’s future business development. During the period under review, according to recent tender results from State Grid and Southern Grid, the Group’s core products ranked among the top, firmly maintaining a leading position in the industry; as a Vice-Chair Unit of the Power Industry AI Alliance, the Group participated deeply in the formulation of industry AI application standards. In the first half of the year, the Group achieved outstanding results in transformer area governance and transmission line online monitoring of the distribution network digitalization business, with cumulative contract awards exceeding RMB300 million, firmly maintaining a leading industry position. The Group’s global expansion entered a harvest period, with its Indonesian factory continuing to serve as a core production base for the Southeast Asian market; its technology center in Saudi Arabia was positioned as a technology service and project hub for the Middle East region; and the newly established subsidiary in Morocco further refined the operational system in the Middle East region. During the period under review, overseas mass shipments of communication modules exceeded RMB50 million in value, representing a more than 18-fold YoY increase.
Smart Distribution Network Gains Market Share, Data Center and Energy Storage Make Significant Progress
During the period under review, the Digital Energy Services (formerly known as "Advanced Distribution Operations") business recorded a turnover of RMB2.39 billion, representing a significant YoY increase of 98%; orders secured amounted to RMB4.47 billion, representing a surge of 101% over the same period last year. Among these, the value of bids won for smart distribution networks exceeded RMB2.15 billion, representing a substantial increase of 96% over the same period last year, primarily attributable to the rapid growth of overseas distribution network equipment business; benefiting from the accelerated demand for data center construction driven by AI and the rapid development of overseas data center business, the value of bids won in relation to data centers exceeded RMB1.89 billion, representing a surge of 153% over the same period last year; orders related to new energy storage amounted to over RMB430 million, representing an increase of 11% over the same period last year.
During the period under review, the Group’s core product categories in the smart distribution network sector, such as primary and secondary integration pole-mounted circuit breakers and transformer packages, recorded impressive growth, with brand value and market share steadily rising. In the data center business, while consolidating its position with the three major telecommunications operators in the domestic market, the Group deepened cooperation with leading internet enterprises and became a strategic partner to these companies, while completing benchmark projects for multiple third-party data centers; in international markets, leveraging core customer resources, the Group successfully expanded into several markets including Malaysia, Thailand and Indonesia, and was shortlisted in the supplier system of major overseas AIDC service providers. As for the new energy storage business, the Group focused on the charging and swapping segment in the domestic market and launched lithium-ion battery-swapping cabinet projects in multiple provinces, while continuing to deepen cooperation with leading telecommunications service providers; in international markets, the Group has successfully established a presence in North America, Australia, Europe and Africa, building a standardized and replicable development model for multiple scenarios.
International Orders More Than Double, with Broad-based Growth Across Multiple Markets
In the first half of 2026, the Group secured overseas orders worth approximately RMB4.44 billion, representing a YoY increase of 108%. During the period under review, the Group fully capitalized on market opportunities arising from the global energy transition and the accelerated modernization of power grids in various countries. With its power business as the driving force and leveraging its core competitive advantage in integrated "hardware + software + service" solutions, the Group continued to deepen its market presence across regions, achieving breakthrough growth in its international business.
In the South American market, the Group took Brazil as its core strategic pivot, with business coverage extending across South and Central America. Among these, the bid value for the Brazilian recloser project approached RMB260 million, driving a remarkable YoY surge of 287% in the overall contract value of the South American market. Driven by local grid assessment policies in Brazil, reclosers have shifted from optional purchases to rigid demand and established an exclusive supply barrier, becoming the core growth engine for the market; the Group’s local factory achieved localized production, effectively avoiding the risks of cross-border tariffs and logistics delays. In the North American market, the Group took Mexico as its strategic core, with newly signed contracts increasing by 43% YoY; the value of bids won for power meters reached RMB690 million, while contracts and deliveries for reclosers and transformers both hit record highs, with high-margin power distribution products becoming the region’s primary growth driver; new businesses including energy storage, water utility services and smart city solutions achieved breakthrough implementations during the period, while the Mexico factory established core competitive advantages in compliance, cost and delivery.
In the Asian market, the Group identified the Middle East and Southeast Asia as key markets, with newly signed contract value increasing by 578% YoY. Large-scale framework orders were secured in a concentrated manner, with ample order reserves for channel business, while the pulling effect of EPC new products and major projects was significant, with relevant orders expected to be delivered gradually over the next year. The channel foundation in the Middle East remained solid, while market shares in mature markets such as Malaysia, Singapore and Indonesia steadily increased; first orders were also achieved in emerging markets such as Myanmar and Fiji, with regional coverage and market penetration depth expanding simultaneously. In the African market, the Group relied on dual production bases in Tanzania and South Africa as core growth drivers, with newly signed contracts increasing by 52% YoY; in the South African market, the Group was successfully shortlisted by the national power utility, with local factory production capacity and market adaptability continuously improving; the emerging market in Kenya achieved initial results, while the Group is advancing projects in Côte d’Ivoire, Nigeria, Uganda and other West African and Central-East African regions in phases, with regional market coverage continuing to expand.
Domestic Focus on Digital & Intelligent Upgrades, International Emphasis on Localized Production, and Computing-Power-Electric-Power Coordination Driving Data Center and Energy Storage Globalization
Looking ahead, in the domestic market, as fixed-asset investment in the national power grid during the 15th Five-Year Plan period is expected to exceed RMB5 trillion, power grid upgrades and equipment renewal will bring a new round of opportunities for the Group. The Group will closely follow policy directions, seize the opportunities arising from the growth in the scale of centralized procurement of metering equipment, focus on infrastructure, new energy and key industry projects, and consolidate core markets including major customers and operators. At the technological level, leveraging its deep expertise in the power IoT sector, the Group will follow the development trend of "sensing-computing-communication" integrated chips and digital twin power grids, drive the transition of power grids from digitalization toward intelligent digitalization, and continuously refine its four business pillars of smart power grids, smart water management, AI-driven intelligent computing, and satellite communications. In international markets, the Group will comprehensively deepen its regional market presence: in the Americas, it will take Brazil as its core strategic pivot to deepen its presence in mature South American markets, while leveraging its manufacturing base in Mexico to penetrate incremental markets in North America; in Europe, it will take Hungary as its foundation and focus on developing high-end markets in Germany, Turkey and Northwest Europe; in Asia, it will promote the strategic shift from "broad coverage" to "deep localized rooting"; and in Africa, it will rely on the dual production bases in Tanzania and South Africa as growth drivers to vigorously expand into high-potential markets in West Africa and Central-East Africa. At the same time, the Group will seize the strategic opportunity of "computing power and electric power coordination", deepen the global layout of its data center business, leverage power modules and IT prefabricated cabins to drive rapid business growth, accelerate the R&D and mass production of new products such as liquid cooling CDUs, HVDC and solid-state transformers, and build an integrated "equipment supply + electromechanical general contracting" service system; as for the new energy storage business, the Group will focus on the charging and swapping segment in the domestic market and launch standardized energy storage products tailored to diverse scenarios according to the needs of different overseas regions, continuously consolidating its market and technological competitiveness and gradually building comprehensive service capabilities in smart energy and intelligent computing.
Mr. Ji Wei, Chairman of the Group, said: "During the period under review, the Group’s core business orders delivered outstanding performance, with both the Digital Energy Services business and overseas market orders doubling, while the data center-related business recorded particularly strong growth of more than double, fully demonstrating the effectiveness of the Group’s strategic layout in the field of computing power and electric power coordination. Facing the historic opportunity arising from the deep integration of the global energy transition and artificial intelligence technologies, the Group, leveraging its core strategy of ‘IoT + Chips + AI’, continued to consolidate its core technological innovation and leading market position, while its international business achieved breakthrough growth and its localized manufacturing and delivery system continued to improve. Meanwhile, the Group seized the development opportunities of the computing power economy, successfully expanded its data center business into multiple emerging overseas markets, and established a presence for its new energy storage products in regions including North America, Australia, Europe and Africa. Looking ahead, we will remain firmly committed to driving development through technological innovation and strive to become a leading Digital Energy Services provider in the AI era, creating sustainable value for our shareholders and society."
About Wasion Holdings Limited
Wasion Holdings is the leading provider of comprehensive smart metering, smart distribution and utilisation, and energy efficiency management solutions in the PRC. The Group focuses on delivering integrated solutions that span R&D, production, and sales, serving utility companies in the electricity, water, gas, and heat sectors, as well as major industrial and commercial users. Its business primarily encompasses three key areas: (I) Smart Grid Solutions, which includes a full range of electricity, water, gas, and heat metering products and systems, commanding over 20% share in the domestic high-end market; (II) Digital Energy Services, offering solutions for smart distribution grids, data centres, and new energy storage; and (III) AI-Integrated Energy Efficiency Solutions, provided through its subsidiary Wasion Information (listed on the STAR Market and recognised as a National Specialised and Sophisticated "Little Giant" Enterprise), integrating IoT, chips, and artificial intelligence technologies. Having cultivated overseas markets for over two decades, the Group has established production lines in Tanzania, Brazil, Mexico, Hungary, Indonesia, Saudi Arabia, and South Africa, achieving localised operations. It is actively expanding into areas such as power distribution, energy storage, photovoltaics, and battery swapping to advance its internationalisation strategy. Upholding its core value of "Sincerity Brings Excellence, Mutual Benefit Brings Prosperity", the Group strives to become a leading global supplier in the international smart metering sector and a world-renowned brand.
For more information, please visit: http://ir.wasion.com/tc/index.php
Source : Wasion Holdings (3393.HK) Announces 2026 Interim Results
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