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MSGY

Masonglory Limited Ordinary Shares

MSGY

Masonglory Limited Ordinary Shares • NASDAQ
$2.69 ▼ -2.00% (-0.06)
Market Cap $38.27 M
52w High $22.20
52w Low $0.83
Dividend Yield 0%
P/E 29.89
Volume 667.34K
Outstanding Shares 14.22M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $2.366M ▲ $6.551M ▼ $3.091M ▼ $3.46M ▲
Q2-2025 $526.108K ▲ $6.9M ▼ $3.972M ▼ $2.928M ▲
Q4-2024 $189.474K $7.688M $5.669M $2.019M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow

Five-Year Company Overview

Income Statement

Income Statement Masonglory’s income statement reads more like that of a very small, early-stage or shell-style company than a mature contractor. Reported revenue is tiny, margins are not really visible, and profits hover around break-even levels. That suggests current public financials reflect either a pre-scale phase or a holding / SPAC-like structure rather than a fully ramped operating business. At this stage, the accounts tell very little about how the company performs under normal project load, how resilient its earnings are, or how it handles cost overruns and delays—key issues in construction.

Balance Sheet

Balance Sheet The balance sheet is very light, with only modest assets and essentially no debt reported, but also no meaningful cash showing in the data. That combination is typical of a small holding or recently listed entity that has not yet deployed or fully reflected IPO proceeds. The absence of leverage reduces financial pressure, but the tiny asset base also suggests limited internal resources to absorb shocks, invest in equipment, or scale quickly. Overall, the balance sheet looks clean but also thin, offering little buffer if project performance disappoints.

Cash Flow

Cash Flow Cash-flow information is effectively flat and uninformative, with no clear pattern of cash generation or investment. For a construction subcontractor—where cash timing, collections, and working capital swings are critical—this lack of detail makes it hard to judge day‑to‑day financial strength. The earlier commentary about weak cash-collection discipline is therefore important: if true, it could mean that even with low debt, the company might still face liquidity squeezes during project ramp-ups or delays. At this point, cash-flow quality and predictability remain key unknowns.

Competitive Edge

Competitive Edge Masonglory operates in a crowded Hong Kong construction market, focused on traditional “wet trades” such as plastering, tiling, and related work. Its niche positioning as a one‑stop subcontractor for these trades is a differentiator, but the overall moat appears narrow. Reliance on fixed‑price contracts exposes it to rising material and labor costs, and its business is concentrated in a single, cyclical market. Registration as a Group 2 Specialist Trade Contractor adds credibility and helps with access to larger projects, yet does not fully offset intense price competition and limited diversification. The company’s competitive position depends heavily on execution quality, relationships with main contractors, and its ability to win and safely deliver larger contracts.

Innovation and R&D

Innovation and R&D The business model is rooted in conventional construction methods rather than innovation. There is no clear evidence of proprietary technology, advanced digital tools, or a formal R&D strategy. The company’s “specialization” is more about focus—covering a full set of wet trades—than about new techniques or products. That may be sufficient for steady subcontracting work, but it does little to protect margins if competitors undercut on price. Future upside from innovation would likely need to come from process improvements, better project management systems, or selective adoption of construction tech rather than from breakthrough inventions.

Summary

Masonglory currently looks like a very small, newly listed, traditional construction subcontractor with limited financial history and a thin balance sheet. The available numbers suggest minimal scale and near break‑even performance, offering little insight into how the business behaves under stress or growth. Strategically, it benefits from specialization and formal registration in its niche, but faces a tough, price‑sensitive, and locally concentrated market with contract and collection risks. The main uncertainties revolve around its ability to: (1) build a stable pipeline of quality projects, (2) manage fixed‑price contract risk and cash collection, and (3) grow or diversify without overextending its limited resource base. Until more mature post‑IPO financials emerge, the picture remains early‑stage and high‑uncertainty rather than firmly established.