HONG KONG SAR – Media OutReach Newswire – 26 June 2026 – HONMA Golf Limited (“HONMA”; together with its subsidiaries, the “Group”; HKEX stock code: 6858), one of the world’s most prestigious golf brands, announces its consolidated annual results for the year ended 31 March 2026 (the “Period”).
Financial Highlights
Despite continued global economic and geopolitical challenges which negatively impacted consumer sentiments, the Group reported a year-on-year revenue growth of 2.7% to JPY22,259.7 million (equivalent to USD147.7 million).
Korea rebounded robustly with a year-on-year sales growth of 55.2%, resulting from continued investment in HONMA’s brand and product awareness in the country and success with both retail and wholesale channels in the country.
Revenue from golf clubs, accounting for 70.7% of total revenue, reported a solid year-on-year growth of 4.5%. Golf ball sales grew by 12.2%, on the back of solid recovery in Japan, Korea and China (including Hong Kong and Macau), which markets grew by 5.1%, 4.8% and 87.3% respectively.
Full year net profit increased to JPY1,119.8 million (equivalent to USD7.4 million), up from a loss of JPY264.2 million for the year ended 31 March 2025.
Net operating cash flow remained positive at JPY1,109.3 million (equivalent to USD7.4 million) and net gearing reduced to 21.4%, down from 23.5% as at March 31, 2025.
Continuously delivering working capital efficiency with inventory turnover days improved significantly from 315 to 251.
Major Achievements
During the twelve months period ended 31 March 2026, the golf industry was faced with intensified competition amidst economic slowdown and regional geopolitical instabilities in some parts of the world. Despite these challenges, HONMA firmly executed its growth strategy while continuously investing in product innovation, optimising its distribution network, and strengthening brand marketing efforts.
Korea Market Outperformed All Other Markets with Exponential Growth in Both Retail and Wholesale Channels
While overall market conditions and consumer sentiment remained subdued, Korea outperformed all other markets and delivered a year-on-year growth of 56.7% from its wholesales channel and 34.3% from its retail channel, thanks to continued investment in HONMA’s brand awareness among Korean golfers, its direct-to-consumer businesses in the country and the renewal of its distributor arrangements. During the Period, gross profit margin in Korea improved by 10 percentage points resulting from continued improvement in the Group’s price management, product offering and consumer journey in this dynamic and evolving golf market.
Newly Launched Products Received Positive Consumer Acceptance
HONMA launched a number of products in the twelve months’ period ended March 31, 2026. These products symbolized the highest level of Japanese craftsmanship and HONMA’s signature aesthetics and performance features and have in turn received positive feedback and acceptance from its customers and end consumers. In addition, the Company incorporated several proprietary, cutting-edge technologies into the design and development of its latest BERES and TOUR WORLD series, targeting affluent and avid golfers. As a result, revenue from BERES golf clubs rose by 3.9% and from country specific golf clubs surged by 41.5%, reconfirming HONMA’s strong brand equity and its resilience amid economic headwinds.
Optimised Distribution Network
During the Period, the Group continued to optimise its distribution network in Asia, gradually shifting towards a more balanced channel mix and customers who are capable of delivering sustainable and profitable sales growth in their respective markets. While revenue from self-operated stores decreased by 6.2% due to strong headwinds in Japan, sales from third-party channels increased by 12.3% year on year, benefiting from ongoing channel optimisation in its key markets.
Re-defining the HONMA Brand
HONMA implemented a series of marketing initiatives to strengthen its global brand positioning, brand awareness, to expand reach and to deepen engagement with its target consumers. To reposition the brand as a dynamic, relevant, and premium golf lifestyle offering for digitally savvy younger golfers, the Group has continued to enhance its global website and social media presence through the delivery of regular, high-quality visual content, supporting increased brand awareness and product appeal.
Supported by a full-channel strategy and increased investment in digital marketing, the Group recorded consistent enhancements in organic traffic and conversion rates during the Period, with certain markets achieving double-digit monthly growth. HONMA’s e-commerce sales recorded a year-on-year growth of 13.1% and 18.1% in Chinese Mainland and North America market.
Business Outlook
Looking ahead, HONMA will continue to advance its long-term growth strategy, with the ambition of establishing itself as a leading global golf lifestyle brand. This strategic direction builds on the Group’s strong heritage, expanding distribution footprint, advanced technologies, and renowned Japanese craftsmanship. Key priorities include enhancing and revitalizing brand value to deepen customer loyalty, reinforcing leadership in the super-premium segment, and accelerating growth in the fast-expanding premium-performance category. HONMA also aims to drive sustainable expansion in North America and Europe through a more refined product offering and optimized distribution strategy, while broadening its portfolio of complementary non-club products to deliver a more holistic golf lifestyle experience. At the same time, the Group will continue to prioritize innovation and product development to remain aligned with evolving market dynamics and shifting consumer preferences.
Mr. LIU Jianguo, Chairman of the Board, President, and Executive Director of HONMA Golf Limited, said: “Despite ongoing operating challenges and business uncertainties, HONMA delivered resilient results, underpinned by solid margin performance and continued progress in its direct-to-consumer strategy. Through a disciplined focus on premium positioning, enhanced digital engagement, and an optimized distribution footprint, we have established a robust platform for sustainable long-term growth and remain committed to delivering value for our stakeholders.”
Hashtag: #HONMA
The issuer is solely responsible for the content of this announcement.
About HONMA Golf Limited
HONMA is one of the most prestigious and iconic brands in the golfing industry. Founded in 1959, HONMA combines the latest innovative technologies with traditional Japanese craftsmanship to offer golfers around the world premium, high-tech, and high-performance golf clubs, balls, apparel, and accessories.
As the only vertically integrated golf company with extensive in-house design, development, and manufacturing capabilities, as well as a broad retail footprint in Asia, HONMA is perfectly positioned to continuously grow its business in Asia and beyond, benefitting from the return of golfers in mature golf markets such as the US and Japan, and from increased participation in emerging markets such as Korea and China.
In recent years, HONMA has actively undertaken brand and marketing campaigns with the goal of redefining the HONMA brand as a dynamic, relevant, and premium golf lifestyle brand among today’s golfers. HONMA maintains a team of young professional players from Asia who are considered rising stars or upcoming challengers in the golf industry. HONMA has also collaborated extensively with coaches and key opinion leaders in major Asian markets and made significant investments in its retail distribution network and digital capabilities in Japan and China to unify and elevate the consumer experience and purchase journey for its loyal consumers and the younger golfing community.
HEFEI, CHINA – Media OutReach Newswire – 26 June 2026 – On June 23, the realist drama Zhong Mo Yuan premiered in the prime-time slot on mainstream television in China. Centered on Xuan paper-making techniques, an element of UNESCO’s Intangible Cultural Heritage, the series uses this centuries-old craft as a narrative thread, presenting its continuity and renewal in contemporary life through a visual storytelling approach.
The Four Treasures of the Study—brush, ink, paper, and inkstone—are an essential part of China’s traditional writing culture. Among them, Xuan paper serves as a key material medium, long used in calligraphy and Chinese painting. Unlike the static presentation typical of traditional craft-themed works, this drama transforms Xuan paper from a “craft object” into a “narrative vehicle,” allowing complex processes such as papermaking, sheet lifting, drying, and cutting to naturally unfold within character-driven stories and everyday settings. In doing so, audiences are able to perceive the tangible warmth and contemporary expression of an intangible cultural heritage practice as the plot progresses.
From a Single Sheet of Paper, a Broader Way of Eastern Living Comes Into View
Xuan paper is not merely a material; it represents a centuries-old Eastern way of writing and cultural expression. Starting from this point, the series extends its perspective into a broader cultural context: the relationship between people and craftsmanship, the dialogue between tradition and modernity, and the evolving pathways through which manual skills persist within today’s industrial landscape.
In its narrative approach, the work brings together interactions between a younger generation and master artisans, making “inheritance” no longer an abstract concept, but a series of real choices and actions. In this way, intangible cultural heritage enters contemporary discourse in a more immersive and relatable form.
Bringing Intangible Cultural Heritage to the World Is Not Only About the Work Itself
In recent years, Chinese intangible cultural heritage represented by Xuan paper has been increasingly entering the global field of vision through multiple channels.
On one hand, through state-level media and international communication platforms, content related to intangible cultural heritage continues to be integrated into multilingual dissemination systems, building broader baseline awareness. On the other hand, with the development of streaming media and digital platforms, more and more film and television works rooted in traditional Chinese culture are reaching overseas audiences in lighter, more visually driven formats.
From Visual Narrative to Lived Experience: Intangible Cultural Heritage Is Forming New Communication Pathways
The significance of Zhong Mo Yuan lies not only in telling a story about Xuan paper, but also in its alignment with current trends in intangible cultural heritage communication: culture is no longer simply displayed—it is experienced, understood, and re-created.
Alongside the dissemination and circulation of related visual content, Jing County in Anhui Province, a key origin of Xuan paper culture, has gradually entered the view of international cultural and artistic audiences. Relying on its well-preserved natural ecological environment, traditional handmade papermaking system, and continuously living cultural transmission, the region has been steadily improving a hybrid spatial structure that integrates heritage exhibition, craft experience, and cultural participation. This allows traditional craftsmanship to sustain its vitality through contemporary expression. When visual narratives connect with real-world sites and cultural spaces, intangible cultural heritage is no longer confined to museum-style presentation, but increasingly becomes a cultural resource that can enter everyday life and international exchange contexts.
Conclusion: A World Expressed Through a Single Sheet of Paper
Starting from a single sheet of Xuan paper, traditional Chinese craftsmanship is being seen, understood, and gradually integrated into a broader global cultural communication system in a more contemporary form.
Within this context, Zhong Mo Yuan offers a more expressive visual approach to intangible cultural heritage, allowing the world to perceive the finer layers and textures of Chinese culture through the story of a single sheet of paper.
Hashtag: #Anhui
The issuer is solely responsible for the content of this announcement.
Empowering SMEs Borderless Expansion through Cross-border E-commerce and AI
HONG KONG SAR – Media OutReach Newswire – 26 June 2026 – Co-organised by the Hong Kong Productivity Council (HKPC), with support of the Commerce and Economic Development Bureau (CEDB), and in partnership with the Trade and Industry Department (TID), the inaugural “E-commerce Innovation Expo 2026” (Expo) officially opened yesterday at the HKPC Building. The two-day Expo brings together tech innovation, brand and IP licensing, global platform support, and market expansion strategies, assisting small and medium enterprises (SMEs) in mastering the keys to expanding overseas through e-commerce. The opening ceremony was officiated by Mr Algernon YAU Ying-wah, JP, Secretary for Commerce and Economic Development; Mr Aaron LIU Kong Cheung, JP, Director-General of Trade and Industry; Mr Emil YU Chen-on, BBS, JP Deputy Chairman of HKPC; and Mr Mohamed Din BUTT, MH, Executive Director of HKPC. As its first edition, the Expo has registered with nearly 7,000 pax, reflecting the industry’s keen demand for e-commerce technology information and services.
With Hang Seng Bank as the Diamond Partner and strong support from over 250 supporting organisations, the Expo brings together over 90 exhibitors across five thematic exhibition zones, including Cross-border E-commerce Experience, New Retail Tech Application, Brand x IP Value-added, Smart Operations, and E-commerce Go-Global Support. Gathering e-commerce platforms, technology and business service providers, IP licensors, and Government funding booths, the Expo targets the four keys to going global, namely platform selection, brand building, smart operations, and global expansion. It provides a one-stop platform that assists SMEs from strategic planning to practical deployment, empowering brands to achieve borderless market expansion through e-commerce.
Mr Emil YU Chen-on, BBS, JP, Deputy Chairman of HKPC, remarked in his opening address that as a staunch supporter of SMEs, HKPC has always provided comprehensive, tailored support to address SMEs’ challenges, bridging policy resources with practical business needs to guide SMEs step by step from strategic formulation to execution. We hope this Expo will enhance the resilience and competitiveness of SMEs, speeding up local brands’ integration into the global digital economy. HKPC and its ‘SME ReachOut’ team will continue to provide timely and practical support for all SMEs.
Mr Algernon YAU Ying-wah, JP, the Secretary for Commerce and Economic Development, stated in his address that the Government has always attached great importance to the development potential of e-commerce and actively encourages local enterprises to seize digital economy opportunities and utilise e-commerce to explore diversified markets, thereby enhancing the competitiveness of Hong Kong’s external trade and injecting new impetus into economic growth. As an international trade centre and business hub, Hong Kong plays a vital bridging role in connecting Chinese Mainland with the foreign countries. The Government encourages SMEs to proactively capture these emerging opportunities, leveraging Hong Kong’s global advantages to expand overseas and elevate the international competitiveness of local brands and products.
Mr Yau also thanked HKPC “SME ReachOut” for its efforts, and noted that since 2020 and up to the end of May 2026, SME ReachOut had handled nearly 40,000 SME enquiries, organised or participated in 16 exhibitions and 75 seminars and workshops, and conducted more than 350 outreach activities, visiting various chambers of commerce, industrial and commercial buildings, and co-working spaces under the support of the Government.
Gathering Major E-commerce and AI Technology Service Providers to Support SMEs Going Global Digitally
The Expo features a multitude of e-commerce and AI technology service exhibitors, offering all-round support to SMEs spanning e-commerce, AI technology, brand development, and going global. Alongside Hang Seng Bank, which provides professional cross-border payment solutions to address the collection and payment challenges faced by SMEs going global, the Expo’s exhibitor lineup brought together a wide range of representative organisations from across the industry. Highlights included Innocorn and Auki Labs, technology companies specialising in AI solutions and scenario-based applications for cross-border e-commerce; Lazada, a leading e-commerce platform in Southeast Asia; the Shenzhen Cross-Border E-Commerce Association, which connects domestic and international e-commerce resources; as well as the Hong Kong Brand Toy Association (HKBTA) and SHIBAINC, both of which have successfully expanded globally through strong IP-driven strategies.
Exhibitors widely expressed that the Expo effectively integrated resources across the industry chain, creating an efficient platform for networking and business matchmaking. This enabled SMEs to leverage cross-border e-commerce and emerging AI technologies to overcome development bottlenecks and explore new overseas markets. Please refer to Appendix I for detailed exhibitor information.
Over 10 thematic seminars covering core e-commerce topics, including cross-border e-commerce, new retail technology, brand x IP value-adding, smart operations, and go-global strategies are hosted during the Expo. Over 10 workshops and live showcases are also available, offering expert insights, success stories, practical examples, innovative solutions, instant consultations, and business matching opportunities to help SMEs develop effective plans for going global. In addition, a dedicated Government Funding Zone is set up to guide SME on Government funding to accelerate their upgrade and expansion, reduce costs, enhance competitiveness, and expand into new markets.
The event was also honoured to receive generous support from different organisations, including Alibaba.com Hong Kong Limited, United Technologies (Int’l) Limited, Tradelink Electronic Commerce Limited, Achiever Technology Limited, and Nextguard Technology Limited. HKPC cordially invites all SMEs to register and participate in this free Expo, leveraging the rich cross-border e-commerce information, Government funding information, one on one expert consultations, and practical case study sharing to enhance business resilience and competitiveness through e-commerce. SME representatives are welcome to visit in person to experience the related latest technology applications and Government funding solutions of cross-border e-commerce to capture opportunities for brand and market expansion.
-The End-
Attachment I:
Exhibitor Information (Partial):
Exhibitor
Introduction
1
Hang Seng Bank
Delivers Fintech and cross-border e-commerce payment solutions, enabling SMEs to break through geographical payment restrictions and expand their business in overseas markets.
2
Shenzhen Cross-Border E-Commerce Association
A 5A-level industry organisation and a leading benchmark in Shenzhen’s cross-border e-commerce sector, providing full-chain services encompassing intellectual property protection, compliance, and resource matchmaking for members and industrial clusters. It forms a global cross-border e-commerce ecosystem hub to promote the international expansion of Chinese brands and the high-quality development of cross-border e-commerce.
3
Lazada
The Southeast Asia’s flagship e-commerce platform, delivering a superior and secure online shopping experience for consumers through trusted payment channels like Lazada Wallet, combined with the region’s most extensive logistics network.
4
Hong Kong Brand Toy Association (HKBTA)
Focusing on Hong Kong brand toys, the association promotes brand IP figures to the world through cross-border e-commerce, facilitating collaborations between toy IPs and various overseas fashion and apparel brands to secure market expansion opportunities and enhance product value.
5
SHIBAINC
A homegrown Hong Kong IP that has collaborated with numerous renowned brands, including Watsons, Del Monte, SONY, VIVO, Circle K, MTR Malls, and Octopus Cards Limited.
6
Innocorn Technology Ltd
Provides cross-lingual and multi-national Conversational AI Agents and Digital Human Service Ambassadors that deliver highly interactive virtual assistance. These systems can act as 24-hour online AI employees for online stores, helping overseas buyers resolve inquiries regarding sales and logistics progress.
7
Auki Labs
Utilises 3D technology and AR navigation to streamline the online shopping process, enhancing logistics and shipping efficiency.
Hashtag: #HKPC
The issuer is solely responsible for the content of this announcement.
About Hong Kong Productivity Council
The Hong Kong Productivity Council (HKPC) is a statutory body established in 1967, dedicated to enhancing the productivity and competitiveness of Hong Kong enterprises through world-class applied R&D, innovative technology services, and integrated manufacturing solutions. As a market-oriented, international R&D organisation, HKPC leverages its deep expertise and extensive industry experience inkey areas such as AI, advanced manufacturing, life and health technology, green technology and new energy to drive new industrialisation and support the growth of emerging and future industries.
HKPC focuses on addressing businesses challenges and industrial technology needs, promoting the full integration between technological and industrial innovation. Through technology transfer, product innovation, intellectual property protection and commercialisation of R&D outcomes, the Council fosters collaboration with the local business community as well as top global R&D institutions, delivering added value to industries and advancing the development of new productive forces. HKPC’s world-class R&D achievements have been widely recognised over the years, winning an array of local and overseas accolades, reinforcing Hong Kong’s role as an international innovation and technology centre and a smart city.
To help enterprises capitalise on Hong Kong’s strengths in international connectivity to expand into global markets, HKPC offers comprehensive overseas expansion services tailored to critical areas including product development, technology, manufacturing, and management, enabling businesses to successfully go global from Hong Kong.
HKPC is also committed to providing timely and practical support to SMEs and startups with timely and practical , assisting them in accessing Government funding programmes. Through its FutureSkills training initiatives, HKPC helps both industry and academia stay ahead in latest digital and STEM technologies, nurturing a future-ready talent pool for Hong Kong.
For more information, please visit HKPC’s website: www.hkpc.org/en.
BRUSSELS, BELGIUM / PARIS, FRANCE – Media OutReach Newswire – 26 June 2026 – As artificial intelligence reshapes global power dynamics, European and Chinese leaders are warning that the EU and China must move beyond zero-sum competition to harness their complementary strengths in AI governance and industrial application.
The consensus emerged during the 12th CEIBS Europe Forum, a flagship dialogue held across Paris (22 June) and Brussels (24 June) bringing together policymakers, industry executives, and academics.
Addressing the forums, former President of the European Council Charles Michel stressed that AI is no longer merely a technological issue, but a matter of “sovereignty, leadership, and power.” He identified semiconductors, data infrastructure, and regulatory policy as the core variables shaping future international relations. While acknowledging intensifying global competition, Michel called for “responsible collaboration,” noting that Europe’s mature approach to corporate governance and data security could confer distinct long-term resilience.
The events highlighted a clear strategic divergence in global AI: the US leads in frontier investment, China excels in large-scale application and open-source models, while Europe dominates in regulatory frameworks. “The more intense the competition becomes, the more important dialogue and cooperation are,” noted CEIBS President Wang Hong, highlighting the need to balance global AI governance.
Other speakers included Chinese Ambassador to the EU Cai Run and Chinese Minister to France Chen Li.
Industry panels featuring executives from Siemens, EDF, and leading robotics firms reinforced this pragmatic approach. Across sectors like energy, healthcare, and advanced manufacturing, experts agreed that AI acts as an enabler rather than a replacement for human expertise. However, they cautioned that AI’s massive energy demands present a critical challenge—and a prime opportunity for joint Sino-European innovation in grid technology and renewables.
Concluding the Brussels summit, CEIBS Co-President (European) Frank Bournois encapsulated the sentiment of both cities: “Competition is natural, but insufficient. The real formula we need is unity and trust.”
Partnership supports Singapore SMEs early access to new networking products, preferential support, and bundled connectivity solutions
SINGAPORE – Media OutReach Newswire – 26 June 2026 – MyRepublic Broadband Pte Ltd and TP-Link Corporation Pte Ltd yesterday signed a Memorandum of Understanding (MOU) to strengthen their partnership in serving Singapore’s small and medium-sized enterprises (SMEs) with business connectivity and networking solutions. The signing ceremony took place at Mett Singapore, marking a new phase of collaboration between the telecommunications provider and the global networking hardware leader.
The signing of the Memorandum of Understanding (MOU) between MyRepublic and TP-Link.
The MOU formalises a strategic collaboration that brings together coordinated go-to-market efforts and shared commercial commitments, with a shared focus on serving Singapore’s SME market.
As part of the collaboration, TP-Link will provide MyRepublic with early access to new product launches, enabling MyRepublic to introduce the latest networking solutions ahead of other channel partners in Singapore. This gives SMEs earlier exposure to new innovations, along with greater flexibility in how they can combine connectivity and hardware to support their growth.
The partnership also extends preferential support to MyRepublic across TP-Link’s product portfolio, with TP-Link serving as MyRepublic’s preferred hardware and networking partner for the Singapore SME segment. This strengthens MyRepublic’s ability to deliver more competitive and value-driven business connectivity bundles, ensuring SMEs benefit from high-performing solutions that are better aligned to their evolving needs.
“SMEs need solutions that can keep pace with how quickly the digital landscape is changing. Our collaboration with TP-Link enables us to introduce new innovations faster and deliver them in ways that are practical and impactful for SMEs,” said Lawrence Chan, Managing Director and Chief AI Officer of MyRepublic.
Through upcoming joint initiatives, both companies will work closely on initiatives to accelerate SME adoption of enterprise-grade connectivity solutions, effectively supporting Singapore SMEs with more integrated offerings and improved access to scalable, reliable connectivity infrastructure.
The MOU was signed by Lawrence Chan, Managing Director and Chief AI Officer of MyRepublic, and Brian Dong, Vice President and Head of Asia Pacific at TP-Link. The signing was witnessed by Ng Wey Keen, Head of Connectivity at MyRepublic, and Henry Xu, Country Manager, Singapore at TP-Link.
“We are excited to partner with MyRepublic to deliver smarter, more reliable connectivity solutions for Singapore businesses. By combining MyRepublic’s strong market presence with TP-Link’s innovative networking technologies, we aim to help SMEs accelerate their digital transformation journey and unlock new opportunities for growth. This partnership reflects our shared commitment to empowering businesses with enterprise-grade solutions that are accessible, scalable, and future-ready,” said Brian Dong, Vice President, TP-Link Asia Pacific.
The signing ceremony was followed by a product sharing session on Omada Fusion, TP-Link’s latest business networking platform, giving attendees a first look at the technology that will feature in upcoming joint offerings. Hashtag: #MyRepublic #TPLink #SME #SingaporeSME #BusinessConnectivity #NetworkingSolutions #DigitalTransformation #EnterpriseNetworking #BusinessTechnology #SingaporeBusiness #BusinessPartnership
The issuer is solely responsible for the content of this announcement.
MyRepublic Broadband Pte Ltd
MyRepublic Broadband Pte Ltd is a Singapore-based telecommunications provider delivering high-speed broadband, managed services, and connectivity solutions to consumers and businesses. MyRepublic serves the SME segment with business internet plans, managed IT services, and cybersecurity solutions designed for growing companies. For more information, visit https://myrepublic.net/sg/.
TP-Link Corporation Pte Ltd
TP-Link Corporation Pte Ltd is a global provider of networking devices and solutions, serving homes and businesses in over 170 countries. Its business portfolio includes the Omada platform, which delivers cloud-managed networking for enterprises and SMEs. For more information, visit https://www.tp-link.com/sg/.
HANOI, VIETNAM – Media OutReach Newswire – 26 June 2026 – VinEnergo, a member of Vingroup’s green ecosystem, and SunAsia Energy Inc., a pioneer in the Philippine solar energy sector, have announced a strategic partnership to develop a portfolio of large-scale renewable energy projects utilizing the Solar on Stilts model. With expected lifetime revenues exceeding USD 1.5B, the projects will drive job creation, catalyze infrastructure investment, and strengthen the Philippines’ energy security.
Ms. Tetchi Capellan, Chief Executive Officer and Chairperson of SunAsia Energy (second from left), and Mr. Nguyen Anh Khoa, CEO of VinEnergo (second from right), sign the agreement between the two companies in the presence of Ms. Sharon Garin, Secretary of Energy of the Philippines, and Mr. Lai Thai Binh, Ambassador of Vietnam to the Philippines.
Between 2027 and 2028, VinEnergo and SunAsia Energy plan to bring three flagship projects into operation, with a combined installed capacity of 422MWp. These are projects located in Macabebe, Pampanga (181 MWp), Sagay (126 MWp) and Silay (115MWp), both in Negros Occidental Province.
The partnership aims to deliver reliable renewable energy to the national grid, while supporting the Philippines’ goals of strengthening energy security, reducing carbon emissions, and promoting local economic development. Once operational, the projects are expected to supply electricity to approximately 278,000 households and reduce carbon emissions by more than 460,000 tons annually, equivalent to planting around 21 million trees.
Over the next 18 months, VinEnergo will work closely with SunAsia Energy on engineering design and project implementation. This phase will include the selection of engineers, technology providers, and contractors to install nearly 700,000 solar panels mounted on pile structures, as well as approximately 62 kilometers of new transmission lines across Negros and Pampanga.
The project portfolio will utilize the Solar on Stilts technology, in which solar panels are mounted on pile-supported structures above the water surface, enabling the integration of clean power generation with aquaculture activities. This approach effectively leverages the Philippines’ strong potential for combining renewable energy development with agriculture and fisheries, while serving as a model for future sustainable energy projects. It also aligns with VinEnergo’s strategy of advancing the Food-Energy-Water Nexus to optimize resource use and create long-term value for communities.
ING and SGV & Co. acted as exclusive M&A advisors to VinEnergo and SunAsia, respectively.
Mr. Nguyen Anh Khoa, Chief Executive Officer of VinEnergo, said: “Our partnership with SunAsia Energy on this strategic project portfolio is a clear demonstration of VinEnergo’s regional growth ambitions. We are proud to bring forward solutions that combine sustainable energy development with responsible resource utilization. Floating solar not only contributes to addressing energy security challenges, but also provides a valuable opportunity to share Vietnam’s development experience in protecting local livelihoods and fostering the parallel growth of the energy and agricultural sectors.”
Ms. Tetchi Capellan, Chief Executive Officer and Chairperson of SunAsia Energy Inc., said: “This partnership is driven by the shared commitment of SunAsia Energy and VinEnergo to strengthen energy security, support economic growth, improve people’s lives, and help protect the planet. Through the Floating Solar model, we are not only developing renewable energy infrastructure but also creating a framework where food production and clean energy generation can thrive together.”
The announcement of this strategic partnership comes as the Philippines hosts the ASEAN Summit, underscoring VinEnergo’s role in advancing cross-border collaboration to address energy and climate challenges. It also marks an important milestone in VinEnergo’s international expansion strategy, while highlighting the capabilities of Vietnamese enterprises in developing pioneering renewable energy models that contribute to ASEAN’s and the world’s sustainable energy transition goals.
Hashtag: #VinEnergo #SunAsiaEnergy #SolarOnWater
The issuer is solely responsible for the content of this announcement.
About VinEnergo
VinEnergo is a leading Vietnamese energy developer focused on investing in and developing large-scale energy projects to accelerate the sustainable energy transition in Vietnam and across the region. With innovation at the core of its strategy, VinEnergo develops projects that deliver positive socio-economic impact while leading the deployment of integrated solutions that combine renewable energy, baseload power, and battery energy storage systems (BESS) to build a greener, more stable, and more reliable energy system.
About SunAsia Energy Inc.
SunAsia Energy Inc. is a Philippine renewable energy developer focused on innovative clean energy and solar solutions, including floating solar, Solar on Water, and other renewable energy projects that support the country’s clean energy transition.
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