Alset Inc. has announced the completion of its acquisition of New Energy Asia Pacific Inc. (NEAPI) on July 23, 2025. This transaction was initially reported on May 22, 2025, and further detailed in a statement filed on July 1, 2025. NEAPI holds a 41.5% stake in New Energy Asia Pacific Company Limited, a Hong Kong-based company specializing in the distribution of all-electric special-purpose and transportation vehicles, as well as charging stations and batteries. Chan Heng Fai, Alset Inc.'s Chairman and CEO, and Mr. Lui Wai Leung Alan, Co-CFO, are members of the Board of Directors for New Energy.
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