HONG
KONG, May 16, 2024 /PRNewswire/ -- AX Xeco Limited (XECO), a New Energy
Vehicles (NEV) solution provider based in Hong Kong, and CSpro (Hong Kong) Limited (CS-PRO), a corporation
licensed by the Securities and Futures Commission to carry out Type
1 regulated activities (dealing in securities) and the first
primary issuance and distribution platform in Hong Kong specializing exclusively in security
token offering (STO), proudly announced the collaboration to launch
one of the world's first green security token offering (G-STO) for
the NEV sector. For more information on G-STO, please visit –
https://hk.cspro.io/sto/xeco
According to the International Energy Agency, emissions from
automobiles accounted for 48 percent of global transport carbon
dioxide emissions in 2022. NEVs are a major step forward in the aim
to get to a zero-carbon transport sector. It predicted that the
global demand for NEVs will be four-fold from 2022 to 2030, surging
to 45 million units. In China, the
NEV adoption rate has reached 31.6 percent in 2023, meaning one out
of every three cars sold in China
was a NEV, and it is predicted to surpass 50 percent by 2030.
In 2021, the Hong Kong SAR Government (HK-Gov) announced the Hong
Kong Roadmap on Popularisation of NEVs, setting the target for the
number of public and private parking spaces with charging
infrastructure to reach about 200,000 by 2027 and to cease new
registration of fuel-propelled and hybrid private cars by 2035 or
earlier. As at the end of December
2023, HK-Gov announced that there are 7,415 NEV chargers in
Hong Kong for public use, with a
ratio of 1:10 for NEV chargers to NEV cars. This demonstrates a
significant market demand and growth opportunity to increase the
installation and rolling out of new NEV chargers in order expedite
significant lowering the NEV chargers to NEV cars ratio.
This collaboration between XECO and CS-PRO marks an exciting
milestone and represents a major leap forward in pioneering the
financing model and investment plan for NEV charger projects
through blockchain technology in the NEV industry. Targeting
professional investors, each participant of G-STO has real-time
visibility into the product/service utilization and estimated
return based on business performance of the NEV charging project.
By utilizing cutting-edge blockchain technology on
Ethereum, G-STO lowers financial barriers in the
private equity market and empowers a larger audience to engage in
the NEV revolution.
G-STO prioritizes investor protection with a combination of
traditional measures like KYC/AML compliance, business governance,
risk assessment, and yearly financial audits. Together with
smart contract automation and data transparency on blockchain, it
offers investors unprecedented visibility into the product/service
utilization, business performance and expected dividends from their
investment. This groundbreaking G-STO is poised to revolutionize
the landscape of Environmental, Social and Governance (ESG)
investing, and to pave the way for a cleaner, more resilient future
while at the same time introducing a transparent, secure, and
replicative investment model that allows investors to reap
financial returns from NEV business while fostering a sustainable
planet.
"China aims to peak carbon
dioxide emissions in 2030 and then achieve carbon neutrality in
2060. Developing the NEV industry is an important part of the
national plan," said Stephen Law,
JP, vice chairman of Coinstreet group and member of the National
Committer of CPPCC. Stephen also added, "Hong Kong is an international financial
centre. Coinstreet group is proud to take the lead in creating a
new asset tokenization financing model to support the development
of NEV charging infrastructure."
"The highly innovative way of fundraising through G-STO
enables XECO to expedite the roll-out plan of installing NEV
chargers throughout Hong
Kong," commented Venus
Wong, Founder and CEO of XECO.
"The success of building sustainable transportation in
Hong Kong relies heavily on it's
ability to establish an accessible and affordable NEV charging
infrastructure. Innovative NEV infrastructure financing models can
play a vital role in facilitating the affordability, scalability,
and private sector involvement required to develop a comprehensive
nationwide charging network," said Samson
Lee, Founder & CEO of CS-PRO. "This strategic
collaboration between XECO and CS-PRO exemplifies both companies'
commitment to innovation and collaborative growth in the ESG
sector, and to bring new forms of financing to fuel the growth of
the NEV industry."
For more information on G-STO, please visit –
https://hk.cspro.io/sto/xeco
About Xeco
Xeco possesses an efficient, innovative, diversified team
from Hong Kong University of Science and
Technology with more than 20 years of experience in
providing customers with comprehensive design solutions in
high-quality electronic products. In 2022, Xeco commenced the
business of NEV solution provider, with the aim to substantially
reduce the pollution of our environment by fostering new way of
electric energy to Hong Kong as
well as the globe. With Xeco's self-developed applications that
creates a seamless and sophisticated NEV charging ecosystem, Xeco
is able to provide total solution of NEV charging with different
business strategies to speed up implementation of electric charging
vehicles in urban areas in the next 10 years and beyond. For more
information, please visit - https://www.xeco.eco
About CSpro (Hong Kong)
Limited
As a member of Coinstreet, CS-PRO is licensed by the Securities
and Futures Commission to carry out Type 1 regulated activities
(dealing in securities, CE# BSH213). As the first primary issuance
and distribution platform in Hong
Kong specializing exclusively in STOs, CS-PRO is set to
redefine the landscape of regulated structured products linked to
real world assets (RWAs), and revolutionize the way professional
investors can gain exposure to the rapidly developing market of
security tokens backed by RWAs. The CS-PRO platform combines
cutting-edge technology with strategic partnerships to bring
together security token issuers and professional investors through
a seamless technology driven experience and in line with relevant
regulatory requirements. For more information, please visit -
https://hk.cspro.io
About Coinstreet Holdings Limited (Coinstreet)
Founded in 2017, Coinstreet is an award-winning financial
services and professional consulting firm focused in the Web3 &
Digital Asset sector. Coinstreet offers innovative fintech
services, business & operation solutions, covering four key
business segments including Real World Asset (RWA) Tokenization
through Security Token Offering (STO), Crypto Asset
Management for Private Wealth, Web3 Enterprise
Solutions/Non-security Tokens, and Ecosystem Development &
Marketing Solutions. Coinstreet is a co-organizer of TADS Awards
(www.tadsawards.org) - the world's first international award for
Tokenized Assets and Digitized Securities sector. For more
information, please visit - https://coinstreet.group
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SOURCE CSpro (Hong Kong)
Limited