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Trio Group and Bayambang City in the Philippines Have Reached Agreement to Cooperate on New Energy Projects
[Hong Kong – 10 October 2025] Recently, Trio Industrial Electronics Group (1710.HK) has made significant breakthroughs in expanding its overseas new energy business, as its wholly-owned subsidiary, Trio New Energy (Guangzhou) Co., Ltd has officially reached agreement for cooperation with Bayambang City in the Philippines on projects related to electric motorcycles, battery swapping, and battery swapping cabinets. This cooperation marks another key initiative for Trio Group in the global new energy market layout, and also brings new opportunities for green transformation to the local transportation sector in the Philippines.On 29 September 2025, the Trio team was invited to Bayambang City, Pangasinan Province, Philippines to meet with representatives of the mayor's family, former mayor Dr. Cezar T. Quiambao, the mayor's assistant, and relevant officials. They also signed a Memorandum of Understanding for project cooperation with SAHI STRATEGIC ALLIANCE HOLDING, INC, a leading green energy group in the local area, marking the official launch of cooperation in the field of new energy.Bayambang City, showing great support to this cooperation, has conducted sufficient market research locally, and organized multiple communications and plan adjustments before signing this contract. Dr. Cezar T. Quiambao believes that the transition to new energy is an inevitable choice for building a better community and life locally, and a significant commitment to social responsibility by his family. As a reliable global partner, Trio Group is sure to achieve success in both social value and business. According to the agreement, Trio Group will jointly carry out a large-scale traditional fuel motorcycle battery replacement project with Bayambang City, with an expected replacement quantity of 6000 units in the next year. With the deepening of the project, this number will climb to 30000 units in the next three years, and the involved parties will work closely to achieve the ultimate goal of replacing 200000 units in surrounding regions with new energy, helping the local area build a cleaner and more efficient urban transportation system.Trio Group has a long history of layout in the field of new energy. With years of accumulated technology and experience in industrial manufacturing, it has successfully developed a series of advanced charging piles, electric motorcycles, swapping batteries, battery swapping cabinets, and energy storage products. It also provides users with convenient and safe integrated new energy services through intelligent management systems, real-time monitoring of electricity consumption status, and remote-control functions.The Philippines has placed renewable energy and addressing climate change at the core of its policy agenda, implementing zero tariffs on imported electric vehicles and expanding preferential tax rates to hybrid vehicles, electric motorcycles, electric bicycles, etc. The goal is to reduce greenhouse gas emissions by 75% by 2030 and eliminate dependence on fossil fuels. Pangasinan Province is one of the largest provinces in the Philippines, with a total population of approximately 3.04 million, and Bayambang is one of the most populous cities. To achieve this goal, the Trio New Energy Project will gradually and solidly advance, which is expected to not only drive the improvement and development of the local new energy industry chain, but also create more employment opportunities and promote the green transformation of the regional economy. This project further strengthens the influence of Trio Group in overseas markets, accumulates valuable experience for future international cooperation, and will also play a demonstration and leading role in the development of new energy transportation in other regions of the Philippines and even the entire Southeast Asia.For this project, Dr. Cezar T. Quiambao believes that such transformation towards new energy is an inevitable choice for the local community to build a better life, and a significant commitment to social responsibility by his family. As a reliable global partner with over 40 years of advanced production experience and internationally qualified manufacturing, Trio Group is sure to achieve success together in terms of social value and business.Mr. Cecil Wong, Chairman of Trio Group said, “As a rapidly developing country in Southeast Asia, the Philippines has an increasing demand for new energy. The deep cooperation with Bayambang City this time is an important step in assisting the world's sustainable development. We will fully leverage our advantages in research and development, production, and operation to ensure that the project progresses as planned and create a model of cooperation in the field of new energy transportation. We hope to effectively reduce urban carbon emissions, improve air quality, and provide more economical and convenient travel options for more regions, so that the achievements of new energy can benefit the world.”About Trio GroupTrio Group is a leading Hong Kong-based manufacturer and supplier of advanced industrial electronic components and products, with over 40 years of industry expertise. Specialising in power supply solutions, the group serves key sectors such as energy efficiency and medical electronics. As the first Hong Kong electronics supplier to achieve Industry 4.0 maturity certificate - industry 4.0 1i level. Trio Group integrates smart manufacturing and innovative technologies to deliver high-performance solutions, earning a strong reputation as a trusted partner for numerous globally recognised brands, primarily in Europe and North America.In response to the growing emphasis on ESG (Environmental, Social, and Governance) principles and the urgent demand for decarbonisation, Trio Group is strategically expanding into the renewable energy sector through its proprietary brand, Deltrix. The company is actively developing solutions in:EV charging infrastructure Solar energy storage systems Smart power management Charging network deploymentWith a focus on Central Asia and Southeast Asia, Trio Group is committed to advancing green technology innovation, positioning itself as a key player in the global energy transition while driving sustainable business growth.By leveraging its technical expertise and forward-looking strategies, the group continues to reinforce its role in shaping a low-carbon future.For more details, please contact:Investor RelationsSkye ShumInvestor Relations ManagerPR media:DLK Advisorypr@dlkadvisory.com10/10/2025 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
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Pagaleve fintech raises USD 30 million in new funding round in Brazil
The round was led by OIF Ventures, from Australia, and Sun Hung Kai & Co, one of Asia’s most prominent alternative investment platforms.São Paulo, October 8, 2025 — Pagaleve, a Brazilian BNPL fintech - that enables consumers to pay for their purchases in installments - announced today it has raised USD 30 million (BRL 160 million) in a Series A2 round that combines equity with contributions to the company’s debt (FIDC) structure. The round was led by the Australian OIF Ventures (which has been investing in Pagaleve since inception), with co-lead of Sun Hung Kai & Co, one of Asia’s largest alternative investment platforms.With this raise, Pagaleve adds Sun Hung Kai & Co, Credit Saison, and Endeavor Catalyst to its cap table. In addition to new investors, there was also strong participation from existing shareholders looking to strengthen their positions. A total of 12 current shareholders also participated in the round, including Salesforce Ventures, BB Ventures (CVC of Banco do Brasil), Founder Collective, and others.Pagaleve’s debt vehicle (FIDC) was originally structured in 2024 to support healthy, sustainable growth and includes participation from Verde Capital (from seasoned investor Luis Stuhlberger) and Credit Saison.“We have already started 2025 with a positive EBITDA and expect to end the year with a very solid profitability position. This round gives us the resources to accelerate innovation and launch products that transform the consumer shopping experience while strengthening our retail partners. The result is clear: more repeat usage (recurrency) and an increasingly consistent presence among Brazil’s largest retailers,” said Henrique Weaver, CEO and co-founder of Pagaleve.Company growth and productsFounded in 2021 by Weaver — formerly at McKinsey, Coca-Cola, and Uber — and Michael Greer, formerly at Zip (an Australian BNPL unicorn), Pagaleve operates under the BNPL (Buy Now, Pay Later) model, targeting a large amount of Brazilians who don’t have credit cards. The company allows consumers to pay installments by Pix - the direct debit payments platform created by the Central Bank of Brazil, somewhat similar to the FedNow in the US. According to Brazilian Credit Information Service (SPC), 79% of Brazilians pay for purchases in installments, while 38% do not have a credit card. Also, even among cardholders, many of them face low credit card limits that make larger purchases difficult. This dynamic creates a strong fit for BNPL solutions in Brazil, further accelerated by the rapid adoption of Pix.Its flagship product is a Pay-in-four (biweekly), interest-free option, directly integrated via API with retailers’ checkouts. They also offer monthly installments (up to 12 with interest) and an innovative product called “Pay Anywhere”, in which consumers can split any Pix payment, even in non-partner retailers.Pagaleve already partners with more than 10,000 retailers — including maret leaders such as AliExpress, Temu, Soma Group (Reserva, Farm), Haste Group (Diesel, Coach), Vivara, and the recent addition of Shein — and has a consumer base of over 5 million users.In the last 12 months, Pagaleve processed approximately 10 million transactions, with annualized TPV of USD 570 million (BRL 3 billion) — four times last year’s level. Revenue grew sixfold over the same period, and the company expects to reach USD 100 million (˜BRL 500 million) in annualized revenues by the second half of 2026.“One of the most important drivers of our growth is our base of repeat users. After their first purchase, 62% of consumers make a second transaction. Repeat customers account for 75% of our revenue,” Weaver added. “This loyalty is why we believe the Pagaleve brand is on track to establish itself as the default choice for installment payments for Brazilian consumers.”Technology and risk managementWith a team heavily focused on technology (about one-third of the headcount), Pagaleve has built a proprietary, AI-native risk and transaction-security platform. The company maintains an approval rate of 70% and a delinquency rate of just 2%.Pagaleve has also developed one of Brazil’s most innovative credit decisioning engines, achieving a KS coefficient of 45% for new users — a statistical measure of a model’s ability to separate good from bad payers. Typical market practices are 20–25%. This performance is driven by an AI-first approach and the use of expanded data sources, including SKU-level purchase data and device-level information.Investor statements“We led this round because we are convinced of Pagaleve’s ability to redefine payments in Latin America. The team’s execution and a value proposition that empowers merchants and consumers truly stand out,” said Jerry Stesel, co-founder and General Partner at OIF Ventures.“As co-lead, we see Pagaleve removing structural frictions and unlocking value for consumers and retailers. Brazil’s BNPL market represents a significant long-term opportunity, and Pagaleve is positioned to capture that potential,” said Gary Chan, Managing Director, Private Equity at Sun Hung Kai & Co.10/10/2025 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Fri, Oct 10
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