Wasion Holdings Completes US$188M Top-Up Placing with CICC and Citi

Wasion Holdings Limited successfully executed a top-up placing on 27 April 2026, raising around US$188 million (HK$1.47 billion). This transaction involved the placement of 50 million shares by Star Treasure Investments Holdings Limited, a company owned by Mr.

Ji Wei, Wasion's controlling shareholder. The proceeds represent approximately 4.8% of Wasion's total issued shares post-transaction. The funds will be utilized for developing magnetic latching and HVDC businesses, enhancing domestic R&D, investing in smart manufacturing, expanding into overseas markets, acquiring a digital energy management firm, and addressing bank borrowings and general corporate expenses. This capital influx may enhance Wasion's competitive position in emerging markets.