Wasion Group

active

Founded in 2000 and headquartered in Changsha, Hunan Province, China, Wasion Group Holdings Ltd. (“Wasion” or the “company”), is a leading manufacturer of advanced energy metering equipment and provider of efficiency management services in China. The company is listed on the Hong Kong Stock Exchange (http://www.wasion.com). Wasion currently has one operating manufacturing facility, occupying some 260,000 sqm of land, located in an industrial zone on the outskirts of Changsha, Hunan Province. The company produces its energy metering equipment at this facility, which also houses a R&D center, corporate office and dormitories for its workers.Wasion is planning to expand its operations by constructing an identical new facility (same scale and size as the existing facility) in the Jiuhua Economic Development Zone, Xiangtan, Hunan Province, a frontier region in China, to develop its Advanced Distribution Operations (ADO) business, which provides integrated smart distribution devices and solutions to a wide range of industrial clients, including both utility companies and the end users.Established in 2003, Xiangtan Jiuhua Economic and Technical Zone is the demonstration and pilot area for resource-conservation and environmental-friendly manufacturing, and was approved as a state-level economic and technical zone in September, 2011. Construction of the new facility has been completed, and the manufacturing equipment and machinery was being commissioned at the time of appraisal site visit in April 2015. Wasion plans to start and scale up the operations in the new facility in a phased manner over the coming years. IFC is considering a corporate investment in Wasion, to support establishment of the new facility in Xiangtan, Hunan Province (the “project”).