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Chinese maker of smart electricity meters and energy-measurement/management equipment for utilities.
Chinese maker of smart electricity meters and energy-measurement/management equipment for utilities.
In one line: China's Itron/Landis+Gyr.
Moat: narrow (process know-how, customer qualification). Long-qualified supplier to China's state grid companies and export markets for metering equipment.
Headquarters: Changsha, China · Founded: 1995 · Employees: 5,448
Size Wasion (3393.HK) is a Hong Kong Industrials company (Industrial Machinery) with a market value of $1.43B, the 502nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$10.84 on 6 Nov 2026.
Performance Over six months the shares fell 59.0%, against -26.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 22.3% over the last twelve months (peer median +12.1%); the operating margin is 16.2% (peer median 8.2%).
Valuation It trades at 8.0× forward earnings against a peer median of 27.2× (cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is -31 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.6 points above its cost of capital (6.2% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$12.4B | HK$10.9B | HK$9.45B | HK$8.01B | HK$6.81B |
| Revenue growth | — | +16% | +18% | +18% | — |
| Gross profit | HK$4.14B | HK$3.87B | HK$3.27B | HK$2.83B | HK$2.23B |
| EBITDA | HK$2.25B | HK$2.10B | HK$1.48B | HK$1.16B | HK$820M |
| Net income | HK$1.19B | HK$1.15B | HK$765M | HK$576M | HK$377M |
| Free cash flow | HK$558M | HK$1.00B | HK$569M | HK$1.10B | HK$684M |
| Capital expenditure | HK$749M | HK$688M | HK$566M | HK$624M | HK$453M |
| Total debt | n/a | HK$5.06B | HK$4.66B | HK$4.52B | HK$4.63B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Wasion 3393.HK | $1.43B | -59% | +22% | 16% | 8.0× | -11.3% |
| Itron ITRI | $4.32B | +20% | -4% | 14% | 14.5× | 9.2% |
| Landis+Gyr LAND.SW | $2.01B | +17% | -22% | 25% | 21.5× | -10.2% |
| Ningbo Sanxing Medical Electric 601567.SS | $2.66B | -37% | -11% | 3% | 15.8× | 4.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3393.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.8% | -9.7% | 8th lowest of 21 |
| 6-month return | -59.0% | -26.8% | lowest of 21 |
| Distance from 52-week high | -67.9% | -53.0% | lowest of 21 |
| Revenue growth (TTM) | +22.3% | +12.1% | 8th highest of 20 |
| Operating margin | 16.2% | 8.2% | 4th highest of 20 |
| Forward P/E | 8.0× | 27.2× | cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -11.3% | 16.3% | least demanding of 10 |
| Growth delivered (Del g) | +19.7% | +8.6% | 2nd highest of 10 |
| Hurdle (Req g minus delivered) | -31.1 pp | +9.5 pp | least demanding of 10 |
| ROIC minus cost of capital | +6.6 pp | -0.6 pp | 3rd highest of 20 |
| EV / EBITDA | 6.2× | 18.7× | cheapest of 7 |
| Net debt / EBITDA | -0.1× | -0.9× | 2nd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wasion 3393.HK | Hong Kong | $1.43B | -59% | +22% | 16% | 8.0× | -11.3% | +19.7% |
| Test Research 3030.TW | Taiwan | $1.44B | -51% | +32% | 40% | n/a | -2.5% | +11.3% |
| Zhuzhou Huarui Precision Cutting Tools 688059.SS | China | $1.44B | -33% | +23% | 36% | 18.1× | n/a | n/a |
| Hymson Laser Technology 688559.SS | China | $1.41B | -34% | +78% | 1% | 22.0× | 11.9% | +26.3% |
| Guangdong Huicheng Vacuum Technology 301392.SZ | China | $1.41B | -25% | +48% | 7% | n/a | n/a | n/a |
| Qinchuan Machine Tool & Tool Group Share 000837.SZ | China | $1.46B | -14% | +8% | -4% | 105.7× | n/a | n/a |
| Hongyuan Green Energy 603185.SS | China | $1.46B | -34% | +14% | -15% | 51.1× | n/a | n/a |
| Shenzhen Qiangrui Precision Technology 301128.SZ | China | $1.46B | -47% | +56% | 10% | n/a | n/a | n/a |
| Goodwin GDWN.L | United Kingdom | $1.46B | +16% | +2% | 13% | n/a | 47.7% | -12.1% |
| LU-VE LUVE.MI | Italy | $1.47B | -13% | +8% | 10% | 25.0× | 14.5% | +8.6% |
| Crompton Greaves Consumer Electricals CROMPTON.NS | India | $1.47B | -26% | +12% | 8% | 23.6× | 20.5% | +11.0% |
| Interroll INRN.SW | Switzerland | $1.47B | -11% | +2% | 13% | 20.6× | 1.4% | -0.6% |
| Sunrise Energy Metals SRL.AX | Australia | $1.38B | -16% | n/a | n/a | n/a | n/a | n/a |
| Jiangsu Guomao Reducer 603915.SS | China | $1.37B | -11% | +11% | 9% | 28.4× | 16.3% | +4.0% |
| Ningbo Donly 002164.SZ | China | $1.49B | +49% | +5% | 5% | n/a | n/a | n/a |
| Topoint Technology 8021.TW | Taiwan | $1.37B | -28% | +49% | 21% | 27.2× | n/a | n/a |
| Suzhou Veichi Electric 688698.SS | China | $1.37B | -38% | +20% | 7% | 36.4× | n/a | n/a |
| Kirloskar Brothers KIRLOSBROS.NS | India | $1.37B | -8% | +11% | 9% | n/a | 33.9% | +10.8% |
| Chongqing Zaisheng Technology 603601.SS | China | $1.35B | -50% | -6% | 1% | 158.2× | 39.7% | -7.5% |
| Changzheng Engineering Technology 603698.SS | China | $1.51B | -57% | -4% | 7% | 33.0× | n/a | n/a |
| Jiangsu Huahong Technology Stock 002645.SZ | China | $1.52B | -38% | +57% | 5% | 20.6× | n/a | n/a |