Visionary Holdings to build battery swap stations in Hong Kong

TORONTO - Visionary Holdings (NASDAQ: GV), a small-cap company with a market capitalization of $18.27 million, has announced a partnership with PEGASUS International Group to establish a presence in the new energy vehicle battery swap market in Hong Kong. The company’s stock has shown remarkable momentum, delivering a 102.87% return year-to-date. According to InvestingPro analysis, the stock appears to be fairly valued at its current price of $4.95. The collaboration aims to capitalize on the region’s growing electric vehicle industry, supported by the Hong Kong government’s initiative to construct 3,000 high-speed battery swap/charging stations by 2030.

Under the agreement, Visionary will invest HK$420 million to build 600 battery swap/charging stations across Hong Kong by 2029, with the first 10 stations and the inaugural new energy vehicle battery swap station slated for completion in 2025. This strategic move is expected to secure Visionary approximately 20% of the market share in Hong Kong’s battery swap sector. The company has demonstrated solid revenue growth of 11.25% in the last twelve months, suggesting strong execution capabilities.

The project is financially backed by a US$1 billion financing arrangement from the Alfardan Group of Qatar, ensuring the investment plan’s feasibility. This development is anticipated to reinforce investor confidence in Visionary’s resource integration capabilities and growth potential. InvestingPro data reveals the company maintains a FAIR financial health score, with a beta of 1.34 indicating moderate market sensitivity. Subscribers can access 12 additional key metrics and exclusive ProTips about GV’s growth prospects.

Both Visionary and PEGASUS International Group will leverage their respective strengths in equipment, technology, operating funds, and site resources to explore the battery swap/charging service market. The partnership aligns with Visionary’s long-term strategy and the industry’s upward trend, aiming to enhance the company’s competitive edge and shareholder value.

Visionary commits to fulfilling the information disclosure and compliance obligations of a U.S. listed company, with intentions to keep investors informed about the project’s progress. The company plans to continue its focus on innovation, cooperation, and mutual benefits, striving to improve service quality, increase market share, and contribute to the new energy vehicle industry’s development in Hong Kong. This initiative is part of Visionary’s broader strategy to bolster its market value and secure long-term returns for its investors.

The information in this article is based on a press release statement from Visionary Holdings Inc.

In other recent news, Visionary Holdings Inc. has announced several strategic initiatives, including two new joint ventures and asset sales, aimed at expanding and restructuring its operations. The company has entered into agreements to form joint ventures with UBX Technology Inc. and Gensea International Co. Limited, investing $1.5 million and $1 million, respectively, to gain a 51% stake in each. These ventures, focusing on digital currency technology and healthcare, are expected to close in the first half of 2025. Concurrently, Visionary Holdings has sold its entire equity interest in New Canaan, a subsidiary with significant liabilities, to SunShine Whale Path E-Commerce Co., Ltd. for $100. Additionally, Visionary Holdings has agreed to acquire 60% of Smarco Building Solutions Inc. by issuing 555,556 common shares at a discount, with this transaction anticipated to close in the first quarter of 2025. The company is also raising $21 million through the sale of 21 million common shares at $1.00 each, pending regulatory approvals. These developments highlight Visionary Holdings’ efforts to diversify its business and improve financial stability. Investors can access detailed information on these transactions through the company’s recent SEC filings.

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