Wasion Group (3393 HK): Trading Rich Ahead Of Energy Solutions Play Spin-Off
Wasion Group Holdings (3393 HK), an energy solutions provider, has proposed the spin-off and separate listing of Wayon Energy Technology on the HKEx.
Wayon Energy provides solutions to electricity from power plants and batteries to high-demand facilities such as a data centres.
Wayon Energy’s listing form (Form A1) has now been submitted to the HKEx. Wasion’s bottom line growth is strong. Wayon’s are stronger, but margins are a tad weaker.
The Trade:
A 200% share price gain in the past year; trailing/forward metrics are also up 200% on the five-year averages: that’s a lot expectation already baked into Wasion.
Wayon is an interesting op. However, Wasion is an expensive means to get indirect exposure.
I’d be shorting Wasion here.
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