A novel pinching antenna system (PASS) enabled wireless power transfer (WPT) framework is proposed, where energy harvesting receivers (EHRs) and information decoding receivers (IDRs) coexist. By activating pinching antennas (PAs) near both receivers and flexibly adjusting PAs' power radiation ratios, both energy harvesting efficiency and communication quality can be enhanced. A bi-level optimization problem is formulated to overcome the strong coupling between optimization variables. The upper level jointly optimizes transmit beamforming, PA positions, and feasible interval of power radiation ratios for power conversion efficiency (PCE) maximization under rate requirements, while the lower level refines power radiation ratio for the sum rate maximization. Efficient solutions are developed for both two-user and multi-user scenarios. 1) For the two-user case, where an EHR and an IDR coexist, the alternating optimization (AO)-based and weighted minimum mean square error (WMMSE)-based algorithms are developed to achieve the stationary solutions of transmit beamforming, PA positions, and power radiation ratios. 2) For the multi-user case, a quadratic transform-Lagrangian dual transform (QT-LDT) algorithm is proposed to iteratively update PCE and sum rate by optimizing PA positions and power radiation ratios individually. Closed-form solutions are derived for both maximization problems. Numerical simulation results demonstrate that the proposed PASS-WPT framework significantly outperforms conventional MIMO and the baseline PASS with fixed power radiation, which demonstrates that: i) Compared to the conventional MIMO and baseline PASS, the proposed PASS-WPT framework achieves 81.45% and 43.19% improvements in PCE of EHRs, and ii) also increases the sum rate by 77.81% and 31.91% for IDRs.