Property developer invests in HK firm

Property developer Agile Group, known for its estates in Zhongshan, will invest over HK$200 million (US$25 million) in Hong Kong EV services provider WE Solutions, taking up around 6% of its total shares, according to Caixin.

WE Solutions has already attracted multiple billionaires in the Greater Bay Area, including Hong Kong’s richest man, Li Ka-shing, and founder and chairman of the TCL group, Li Dongsheng.

Agile said the stake is mainly financial, but the two parties will remain open to further collaboration in business development in the future. The developer has no previous EV business experience.