Core Viewpoint - Visionary Holdings has entered a significant agreement with PEGASUS International Group to expand into the new energy vehicle battery swap market in Hong Kong, which is expected to enhance its market value and investor confidence [1][2]. Group 1: Strategic Partnership and Market Expansion - Visionary and PEGASUS will collaborate on battery swap and charging services, capitalizing on the growing new energy vehicle market in Hong Kong, supported by the government's plan to establish 3,000 high-speed battery swap/charging stations by 2030 [2][3]. - Visionary plans to invest HK$420 million to build 600 battery swap/charging stations by 2029, starting with 10 stations in 2025, aiming to capture approximately 20% of the market share in Hong Kong [3][4]. Group 2: Financial Backing and Resource Integration - A US$1 billion financing arrangement with Alfardan Group has progressed to the formal loan process, providing financial support for the HK$420 million investment, enhancing Visionary's operational capabilities [4][6]. - The partnership will leverage Visionary's strengths in technology and funding alongside PEGASUS's site resources to create a mutually beneficial operational model [5][6]. Group 3: Long-term Strategy and Market Positioning - This cooperation aligns with Visionary's long-term strategy and the industry's growth trend, as demand for battery swap and charging services is on the rise [6][7]. - Visionary aims to improve service quality and market share in the new energy vehicle sector, contributing to the industry's development in Hong Kong while ensuring sustainable growth in market value for investors [7].
Visionary Ventures into the New Energy Vehicle Battery Swap Field in Hong Kong, Providing Strong Assurance for Sustainable Revenue Growth