Wang & Lee Group, Inc. Acquires Solar (HK) Limited to Accelerate Renewable Energy Innovation in Hong Kong
Wang & Lee Group (WLGS) has announced the acquisition of Solar (HK) (SolarHK) through a share allotment valued at HK$15 million. The strategic acquisition combines SolarHK's solar expertise with WLGS's lithium-ion battery initiatives to advance Hong Kong's renewable energy transition.
Founded in 2019, SolarHK specializes in solar PV system design, installation, and green energy project approvals, serving over 50 locations across Hong Kong. The company has completed notable installations at various facilities including Tsing Yi Shipyard and subsidiaries of New World Development.
The merger leverages WLGS's partnership with Linko Smart Technology to integrate IoT-enabled services and AI-powered smart home solutions into SolarHK's existing infrastructure. The transaction is expected to complete within the week, positioning WLGS to deliver comprehensive energy storage and solar solutions across commercial, industrial, and residential sectors.
Wang & Lee Group (WLGS) ha annunciato l'acquisizione di Solar (HK) (SolarHK) attraverso un'assegnazione di azioni del valore di HK$15 milioni. Questa acquisizione strategica unisce l'esperienza nel settore solare di SolarHK con le iniziative di batterie agli ioni di litio di WLGS per promuovere la transizione verso l'energia rinnovabile di Hong Kong.
Fondata nel 2019, SolarHK è specializzata nella progettazione e installazione di sistemi fotovoltaici e nelle approvazioni di progetti di energia verde, servendo oltre 50 località in tutta Hong Kong. L'azienda ha completato installazioni notevoli in diverse strutture, tra cui il Cantiere Navale di Tsing Yi e le filiali di New World Development.
La fusione sfrutta la partnership di WLGS con Linko Smart Technology per integrare servizi abilitati IoT e soluzioni per case intelligenti alimentate da IA nell'infrastruttura esistente di SolarHK. Si prevede che la transazione si completi entro la settimana, posizionando WLGS per offrire soluzioni complete di stoccaggio energetico e solari nei settori commerciale, industriale e residenziale.
Wang & Lee Group (WLGS) ha anunciado la adquisición de Solar (HK) (SolarHK) a través de una asignación de acciones valorada en HK$15 millones. Esta adquisición estratégica combina la experiencia solar de SolarHK con las iniciativas de baterías de iones de litio de WLGS para avanzar en la transición de energía renovable en Hong Kong.
Fundada en 2019, SolarHK se especializa en el diseño e instalación de sistemas fotovoltaicos y en la aprobación de proyectos de energía verde, sirviendo a más de 50 ubicaciones en Hong Kong. La empresa ha completado instalaciones notables en diversas instalaciones, incluyendo el Astillero de Tsing Yi y subsidiarias de New World Development.
La fusión aprovecha la asociación de WLGS con Linko Smart Technology para integrar servicios habilitados para IoT y soluciones de hogar inteligente impulsadas por IA en la infraestructura existente de SolarHK. Se espera que la transacción se complete dentro de la semana, posicionando a WLGS para ofrecer soluciones integrales de almacenamiento de energía y solares en los sectores comercial, industrial y residencial.
Wang & Lee Group (WLGS)는 Solar (HK) (SolarHK)의 주식 할당을 통해 HK$1500만에 인수했다고 발표했습니다. 이 전략적 인수는 SolarHK의 태양광 전문성과 WLGS의 리튬 이온 배터리 이니셔티브를 결합하여 홍콩의 재생 에너지 전환을 촉진합니다.
2019년에 설립된 SolarHK는 태양광 PV 시스템 설계, 설치 및 녹색 에너지 프로젝트 승인을 전문으로 하며, 홍콩 전역 50개 이상의 지역에 서비스를 제공합니다. 이 회사는 Tsing Yi 조선소와 New World Development의 자회사를 포함한 여러 시설에서 주목할 만한 설치를 완료했습니다.
이번 합병은 WLGS가 Linko Smart Technology와의 파트너십을 활용하여 SolarHK의 기존 인프라에 IoT 지원 서비스와 AI 기반 스마트 홈 솔루션을 통합합니다. 이번 거래는 이번 주 내에 완료될 것으로 예상되며, WLGS는 상업, 산업 및 주거 부문에서 포괄적인 에너지 저장 및 태양광 솔루션을 제공할 수 있는 위치에 있습니다.
Wang & Lee Group (WLGS) a annoncé l'acquisition de Solar (HK) (SolarHK) par le biais d'une allocation d'actions d'une valeur de HK$15 millions. Cette acquisition stratégique associe l'expertise solaire de SolarHK aux initiatives de batteries lithium-ion de WLGS pour faire progresser la transition énergétique renouvelable à Hong Kong.
Fondée en 2019, SolarHK est spécialisée dans la conception et l'installation de systèmes photovoltaïques et dans l'approbation de projets d'énergie verte, servant plus de 50 emplacements à Hong Kong. L'entreprise a réalisé des installations notables dans diverses installations, y compris le chantier naval de Tsing Yi et des filiales de New World Development.
La fusion tire parti du partenariat de WLGS avec Linko Smart Technology pour intégrer des services activés par IoT et des solutions de maison intelligente alimentées par IA dans l'infrastructure existante de SolarHK. La transaction devrait être finalisée dans la semaine, positionnant WLGS pour offrir des solutions complètes de stockage d'énergie et solaires dans les secteurs commercial, industriel et résidentiel.
Wang & Lee Group (WLGS) hat die Übernahme von Solar (HK) (SolarHK) durch eine Aktienzuteilung im Wert von HK$15 Millionen bekannt gegeben. Diese strategische Akquisition kombiniert das Solar-Know-how von SolarHK mit den Lithium-Ionen-Batterie-Initiativen von WLGS, um den Übergang zu erneuerbaren Energien in Hongkong voranzutreiben.
Gegründet im Jahr 2019, spezialisiert sich SolarHK auf das Design und die Installation von Solar-PV-Systemen sowie auf die Genehmigung von grünen Energieprojekten und bedient über 50 Standorte in ganz Hongkong. Das Unternehmen hat bemerkenswerte Installationen in verschiedenen Einrichtungen abgeschlossen, darunter die Tsing Yi Werft und Tochtergesellschaften von New World Development.
Die Fusion nutzt die Partnerschaft von WLGS mit Linko Smart Technology, um IoT-fähige Dienste und KI-gesteuerte Smart-Home-Lösungen in die bestehende Infrastruktur von SolarHK zu integrieren. Der Abschluss der Transaktion wird innerhalb der Woche erwartet, wodurch WLGS in der Lage ist, umfassende Energie- und Solarlösungen in den Bereichen Gewerbe, Industrie und Wohnbau anzubieten.
- Strategic acquisition valued at HK$15 million
- Access to SolarHK's network of 50+ locations across Hong Kong
- Integration of WLGS's battery tech with SolarHK's solar solutions
- Enhanced service offering through Linko's IoT and AI capabilities
- Share allotment may lead to dilution for existing shareholders
Insights
Wang & Lee Group's acquisition of Solar (HK) for
The deal creates immediate value through vertical integration by combining WLGS's battery technology with SolarHK's established solar installation business. This positions WLGS to capture multiple revenue streams in the renewable energy value chain rather than focusing solely on component manufacturing.
Beyond technology synergies, the acquisition provides WLGS with access to SolarHK's clientele across 50+ Hong Kong locations, including connections to high-value commercial clients like New World Development subsidiaries. The established customer relationships represent a tangible asset that would otherwise require significant time and marketing investment to develop organically.
The integration with Linko's smart technology creates potential for recurring revenue through IoT-enabled energy management systems—a high-margin addition to the traditional solar installation business model. This could transform WLGS from a pure hardware provider into a technology-enabled service company with more predictable cash flows.
While share-based acquisitions preserve cash resources, investors should monitor post-acquisition integration progress and whether the promised synergies between battery technology and solar installations materialize in accelerated revenue growth.
This acquisition strategically positions WLGS at the intersection of two critical clean energy technologies—solar generation and advanced battery storage. By acquiring SolarHK, WLGS addresses a fundamental limitation in renewable energy adoption: intermittency. The combined entity can now offer integrated solutions that generate solar power during daylight hours while storing excess energy for nighttime use.
Hong Kong presents a unique market opportunity for such integrated solutions due to its dense urban environment, high electricity costs, and the government's Feed-in Tariff (FiT) scheme that incentivizes renewable adoption. SolarHK's experience navigating local regulations and securing project approvals provides WLGS with invaluable market-specific expertise that typically takes years to develop internally.
The technical synergies between lithium-ion battery research (developed with City University of Hong Kong) and practical solar applications create a compelling product offering for the commercial sector, where energy costs significantly impact operational expenses. By optimizing both generation and storage, WLGS can potentially deliver superior ROI for building owners compared to standalone solar installations.
The addition of Linko's AI-powered energy management capabilities further differentiates this offering in a competitive market. Smart algorithms that optimize when to store, consume, or sell excess energy back to the grid can substantially improve system economics, particularly under Hong Kong's tiered electricity pricing structure.
This three-technology integration (solar, battery, AI management) represents the direction the broader renewable industry is heading—moving beyond component sales toward comprehensive energy solutions that maximize financial and environmental returns.
Hong Kong, March 03, 2025 (GLOBE NEWSWIRE) -- Wang & Lee Group, Inc. (WLGS), a leader in sustainable technology solutions, today announced its acquisition of Solar (HK) Limited (“SolarHK”), a pioneering solar energy company, through an allotment of shares valued at approximately HK
SolarHK: A Trailblazer in Renewable Energy
Established in 2019, SolarHK has been at the forefront of promoting renewable energy adoption across Hong Kong. The company offers comprehensive services, including solar photovoltaic (PV) system design and installation, green energy project approvals, and emission reduction management. Aligned with the Hong Kong SAR government’s sustainability goals, SolarHK provides one-stop solutions for residential and commercial clients, enabling participation in programs such as the Feed-in Tariff (FiT) scheme.
Notable projects completed by SolarHK include installations at:
- 青衣船廠 (Tsing Yi Shipyard)
- 利維大廈 (Liven House, Kwun Tong)
- 港興混凝土有限公司 (Quon Hing Concrete Manufacturer, Tsing Yi – a subsidiary of New World Development)
- 出入易迷你倉 (In n Out Storage, Aberdeen)
- 錦田沙律之家 (Kam Ting Maison De Charlotte, Yuen Long)
- 西貢莫遮輋 (Mok Tse Che, Sai Kung)
Strategic Synergy and Expansion
The acquisition creates synergies between WLG’s lithium-ion battery research—developed in collaboration with City University of Hong Kong—and SolarHK’s solar technology and expansive network. SolarHK’s coverage spans over 50 locations across Hong Kong, positioning WLG to deliver integrated energy storage and solar solutions for commercial, industrial, and residential sectors.
Collaboration with Linko: Enhancing Smart Solutions
Through WLG’s partnership with Linko Smart Technology Limited (https://linko.com.hk/pages/about-us), a technology innovator, SolarHK’s existing client base will gain access to IoT-enabled services. Linko will deploy AI-powered smart home assistants and energy management systems, enhancing efficiency and sustainability for households and businesses utilizing SolarHK’s infrastructure.
Leadership Perspectives
Mr. Ho, CEO of Wang & Lee Group, stated:
“This acquisition marks a pivotal step in our mission to advance clean energy ecosystems. SolarHK’s proven track record and localized expertise complement our battery technology, enabling holistic solutions that reduce carbon footprints and empower Hong Kong’s green future.”
Mr. Gary Chik, Founder of SolarHK, added:
“Joining forces with WLG amplifies our capacity to innovate and scale. Together, we will accelerate the commercialization of renewable energy, driving tangible benefits for our clients and the community.”
Completion and Forward Vision
The transaction is expected to finalize within the week. Post-acquisition, WLG plans to expand SolarHK’s service offerings, leveraging synergies to introduce cutting-edge energy storage systems and smart technologies. This aligns with Hong Kong’s 2050 carbon neutrality targets and global sustainability trends.
About Wang & Lee Group, Inc.
Wang & Lee Group specializes in sustainable technologies, including energy storage systems and smart infrastructure. Collaborating with academic and industry leaders, WLG is committed to delivering innovative solutions that address climate challenges.
About Solar (HK) Limited
SolarHK, established in 2019, is a Hong Kong-based renewable energy pioneer offering end-to-end solar solutions. Its services span design, installation, certification, and maintenance, supporting clients in achieving energy independence and sustainability.
For media inquiries, contact:
Email: ir@wangleegroup.com
This press release contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially.
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FAQ
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