Cooperation with China Power a major rerating catalyst

■ Wasion Holdings [3393.HK] issued an announcement today that it has entered into a strategic cooperation framework agreement with China Power [2380.HK] in relation to the establishment of a strategic cooperation relationship for the joint development of new energy and photovoltaic agriculture, energy storage, green power transportation and logistics services.
■ We believe that the strategic cooperation agreement is a major rerating catalyst.
■ Recent news and this announcement confirm our view that Wasion Holdings (HK-listed) is one of the beneficiaries of recent policies on the Internet of Energy, energy storage, carbon emissions reduction goals and new infrastructure.
■ We reiterate our positive view on Wasion Holdings.