Apollo Future Mobility Extends HK$42 Million Loan to EV Charging Operator EV Power

Apollo Future Mobility Group Limited ( (HK:0860) ) has provided an announcement.

Apollo Future Mobility Group’s wholly owned subsidiary Raise Success has entered into a loan agreement to provide a HK$42 million loan to EV Power, backed by a personal guarantee from Mr. Chan, after having previously extended smaller short-term loans to the same borrower. The new facility, which now meets the threshold for a discloseable transaction under Hong Kong listing rules, is intended to bolster EV Power’s short-term working capital while it pursues longer-term fundraising for expansion, and underscores Apollo’s ongoing financial support of a key associate in the fast-growing EV charging infrastructure sector, reflecting the group’s strategic commitment to the electric mobility ecosystem.

The most recent analyst rating on (HK:0860) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Apollo Future Mobility Group Limited stock, see the HK:0860 Stock Forecast page.

More about Apollo Future Mobility Group Limited

Apollo Future Mobility Group Limited operates through subsidiaries including Raise Success, a licensed money lender, and is also an investor in EV Power, a major electric vehicle (EV) charging solutions provider active in Hong Kong, Indonesia and mainland China. Since first investing in EV Power’s Series C round in 2018, Apollo has become its single largest shareholder and maintains board representation, supporting the expansion of EV Power’s extensive charging network across more than 70 cities in the PRC and partnerships with automotive, property and logistics groups.

YTD Price Performance: 1.45%

Average Trading Volume: 314,323

Technical Sentiment Signal: Sell

Current Market Cap: HK$715.7M

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