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SUGP

SU Group Holdings Limited Ordinary Shares

SUGP

SU Group Holdings Limited Ordinary Shares • NASDAQ
$5.88 ▼ -4.21% (-0.26)
Market Cap $81.42 M
52w High $26.60
52w Low $3.44
Dividend Yield 0%
P/E -14.34
Volume 6.80K
Outstanding Shares 13.85M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $53.956M $13.347M $-2.264M -4.196% $-1.64 $-1.028M
Q1-2025 $53.956M ▲ $13.347M ▲ $-2.264M ▼ -4.196% ▼ $-1.64 ▼ $-1.028M ▼
Q4-2024 $45.159M $10.215M $264.809K 0.586% $0.019 $751.358K ▼
Q3-2024 $45.159M ▼ $10.215M ▲ $264.809K ▼ 0.586% ▼ $0.019 ▼ $761.672K ▼
Q2-2024 $45.923M $8.117M $5.062M 11.023% $0.41 $5.994M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $40.924M $134.783M $39.164M $95.62M
Q1-2025 $40.924M ▼ $134.783M ▼ $39.164M ▼ $95.62M ▼
Q4-2024 $52.338M $157.078M $59.356M $97.722M
Q3-2024 $52.338M ▲ $157.078M ▲ $59.356M ▼ $97.722M ▲
Q2-2024 $47.221M $153.191M $62.606M $90.586M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-2.264M $-5.314M $-379.05K $45 $0 $-5.818M
Q1-2025 $-2.264M ▼ $-5.314M ▼ $-379.05K ▼ $45 ▲ $0 $-5.818M ▼
Q4-2024 $264.809K $0 $0 $0 $0 $0
Q3-2024 $264.809K ▼ $0 ▼ $0 ▲ $0 ▼ $0 ▼ $0 ▼
Q2-2024 $5.062M $3.106M $-331.5K $12.591M $47.221M $2.775M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been rising steadily each year from a very small base, showing consistent, if modest, growth. Profitability has also improved: gross profit has widened, and operating and net income have stayed positive, which is not always the case for a young, small-cap industrial services company. This suggests reasonable cost control and a shift toward slightly higher‑margin work. However, the overall scale of the business is still quite small, so earnings can be sensitive to a handful of contracts, and results may be more volatile than those of larger security groups.

Balance Sheet

Balance Sheet The balance sheet looks relatively clean and conservative. Total assets have grown meaningfully over the past few years, driven in part by a build‑up of cash. Debt remains very low compared with shareholders’ equity, which points to a lightly leveraged structure and some financial flexibility. Equity has increased over time as profits have been retained in the business. At the same time, the absolute size of the balance sheet is still modest, which means the company has less cushion against large shocks or project setbacks than a bigger, more diversified peer. The later share consolidation (reverse split) speaks more to market perception than to the underlying assets, but it is a reminder that the equity base and trading history are still developing.

Cash Flow

Cash Flow Cash generation has lagged accounting profits at times but has recently turned a corner. Operating cash flow was weak and even slightly negative in an earlier year, then moved into positive territory, roughly in line with reported earnings. Because capital spending has been minimal, free cash flow has tracked operating cash flow closely. This “asset‑light” pattern can be attractive but may also indicate that future growth will depend more on people, technology partnerships, and project execution than on heavy physical investment. Overall, cash is building, not burning, but the track record is short and should be watched over more cycles.

Competitive Edge

Competitive Edge SU Group operates in a crowded, fragmented security market, especially in Hong Kong, with many small and mid‑sized competitors. Its key strength is an integrated model: it can design, install, and maintain complex security systems and also provide the guards and screening staff to run them. This turnkey approach, combined with more than two decades of local experience and relationships with government and blue‑chip clients, gives it credibility and some stickiness with customers. Exclusive distribution rights for certain detection systems and automatic doors add a layer of differentiation and mild barriers to entry. Still, pricing pressure in security services is typically intense, contracts can be short‑term or project‑based, and the company remains small relative to the total market, so its bargaining power is not yet dominant.

Innovation and R&D

Innovation and R&D The company is leaning heavily into technology to strengthen its position. It is partnering on AI‑driven and IoT‑enabled solutions for parking, access control, and smart properties, and is co‑developing robotic patrol systems to address labor shortages and improve service quality. Large, technology‑rich projects such as smart campus and smart hospital installations demonstrate that SU Group can deliver complex, integrated systems, not just basic guarding. Vocational training for security personnel further supports this, helping ensure staff can work effectively with advanced tools. The opportunity is to move up the value chain toward more software‑ and systems‑driven revenues, which can be higher margin and more defensible. The risk is execution: commercializing AI, robotics, and smart‑city solutions requires capital, specialized talent, and careful delivery, and a firm of this size has less room for missteps than major global security players.

Summary

SU Group is a small, growing security services and engineering company that has managed to stay profitable while expanding its asset base and cash reserves, using very little debt. Its integrated offering and long local track record provide a foundation, while its push into AI, IoT, and robotics aims to create differentiation in a highly competitive, low‑margin industry. The business model is asset‑light and project‑driven, which can support decent returns but also makes results sensitive to contract wins and execution quality. With a short history as a listed company, modest scale, and an ambitious technology agenda, the story is one of early‑stage growth with both clear upside potential and meaningful execution and market risks that would merit ongoing monitoring rather than assumptions of smooth, linear progress.

NEWS

October 2, 2025 · 7:00 AM UTC

SU Group Holdings Regains Compliance with Nasdaq Minimum Publicly Held Shares and Minimum Bid Requirements

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September 19, 2025 · 4:00 PM UTC

SU Group Holdings Receives Notice of Delisting from Nasdaq Due to Minimum Publicly Held Share Deficiency; Company Appeals Determination

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