XECO and CS-PRO Announce the First Green Security Token Offering (G-STO) for New Energy Vehicles Charging Network in Hong Kong

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

SOURCE CSpro (Hong Kong) Limited