Reported Earnings • Mar 25
First half 2026 earnings released: US$0.28 loss per share (vs US$0.088 profit in 1H 2025) First half 2026 results: US$0.28 loss per share (down from US$0.088 profit in 1H 2025). Revenue: US$8.43m (down 52% from 1H 2025). Net loss: US$3.60m (down 466% from profit in 1H 2025). New Risk • Mar 22
New major risk - Negative shareholders equity The company has negative equity. Total equity: -US$2.6m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-US$2.6m). Earnings have declined by 68% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$16.0m market cap). New Risk • Mar 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 41% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Market cap is less than US$100m (US$15.4m market cap). New Risk • Feb 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.43m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 41% per year over the past 5 years. Market cap is less than US$10m (US$9.43m market cap). Recent Insider Transactions Derivative • Jan 22
Non-Independent Director notifies of intention to sell stock Chi Ming Lam intends to sell 1m shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of January. If the sale is conducted around the recent share price of US$1.04, it would amount to US$1.4m. Since March 2025, Chi Ming's direct individual holding has decreased from 10.55m shares to 9.81m. There have been no trades via on-market transactions or options from company insiders in the last 12 months. New Risk • Dec 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 41% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$15.7m market cap). Announcement • Dec 04
Ming Shing Group Holdings Limited Announces Board Changes Ming Shing Group Holdings Limited announced the resignation of Wai Chun Chik as an independent director for personal reasons not due to any disagreement with the Company. Following the resignation of Ms. Chik, the Board of Directors appointed Ms. Qiuxian Qiao as chairman of the audit committee. Ming Shing Group Holdings Limited announced the appointment of Tianhang Zhao to its Board of Directors as director of the Company. Ms. Zhao, age 36, has over 8 years of experience in business management. Since March 2016, Ms. Zhao has been the founder of Beijing Youpinjia Culture Media Company Limited. Ms. Zhao obtained a bachelor in electronic science and technology from Beijing University of Technology in 2012. Announcement • Nov 08
Ming Shing Group Holdings Limited Announces Board Changes Ming Shing Group Holdings Limited announced a significant update in its board of directors. The company announced the resignation of Yu Yuan as an independent director. Mr. Yuan has indicated his resignation is for personal reasons and not due to any disagreement with the Company. The company announced the appointment of Wan-Jung Sun to its Board of Directors as director of the Company. Ms. Sun, age 39, has over 10 years of experience in business administration. Her expertise will be pivotal to Ming Shing’s future business development. Ms. Wan-Jung Sun, age 39, has over 10 years of experience in business administration. Ms. Sun has been an assistant to the chief operating officer of Ruiying Japan Co. Ltd. Since July 2023. From July 2016 to June 2023, Ms. Sun was a senior manager of Imperial Pacific International (CNMI), LLC. From August 2014 to June 2016, Ms. Sun was an assistant to the President of Imperial Pacific International Holdings Ltd. From October 2010 to June 2014, Ms. Sun was a manager of Centaline Property Agency Ltd. Ms. Sun obtained a Bachelor of Science from the Chihlee Institute of Technology in 2015. Board Change • Oct 31
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Non-Independent Director Chi Ming Lam is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Sep 26
Ming Shing Group Holdings Limited Announces Board Appointments Ming Shing Group Holdings Limited announced a significant update in its board of directors. Ming Shing announced the increase in the size of its Board of Directors by two (2), bringing the total number of directors to seven (7) and the appointment of Han Yan and Qiuxian Qiao to its Board of Directors as the sixth and seventh director and Han Yan’s appointment as the Chief Operating Officer of the Company. Mr. Yan, age 29, has over 9 years of experience in business administration, while Ms. Qiao, age 42, has over 15 years of experience in auditing, finance, risk management and business management. Their expertise will be pivotal to Ming Shing’s future business development. Mr. Yan is the founder and has been the chief executive officer since July 2016 of Mask Network, a platform that integrates Web3 applications such as encrypted communication, decentralized finance, non-fungible tokens, and social tipping into mainstream social media. Mr. Yan is the founder and has been the managing partner since May 2022 of Bonfire Union, a venture capital brand dedicated to support early-stage Web3 projects across infrastructure, gaming artificial intelligence, decentralized finance and decentralized social platforms. Ms. Qiao has been a paralegal of Guangdong Zhiheng (Qianhai) Law Firm since November 2023. From November 2021 to August 2023, Ms. Qiao was an executive director and chief investment officer of HSC Resources Group Limited (HKEx: 1850). From January 2016 to November 2021, Ms. Qiao was the chief investment officer and strategic investment manager of Zhong Ji Longevity Science Group Limited (HKEx: 767). From June 2014 to December 2015, Ms. Qiao was a strategic investment manager of XinKong International Capital Holdings Limited (HKEx: 993). From November 2012 to May 2014, Ms. Qiao was a business development manager of Banco Pinto de Magalhães. From February 2012 to November 2012, Ms. Qiao was a risk manager consultancy senior consultant of KPMG Advisory (China) Limited. From September 2009 to January 2012, Ms. Qiao was a financial analyst of IBM (China) Limited. From February 2007 to August 2009, Ms. Qiao was an auditor of PricewaterhouseCoopers (Macau). Ms. Qiao obtained a master of economics from the University of Hong Kong in 2007. Announcement • Aug 01
Ming Shing Group Holdings Limited announced delayed 20-F filing On 07/31/2025, Ming Shing Group Holdings Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$2.48, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 34x in the Construction industry in the US. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to US$3.47, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 33x in the Construction industry in the US. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$3.90, the stock trades at a trailing P/E ratio of 22x. Average trailing P/E is 31x in the Construction industry in the US. Recent Insider Transactions Derivative • May 23
CEO & Chairman notifies of intention to sell stock Chi Ming Lam intends to sell 628k shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of May. If the sale is conducted around the recent share price of US$4.38, it would amount to US$2.7m. Since December 2024, Chi Ming has owned 10.75m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to US$4.44, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 30x in the Construction industry in the US. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$3.19, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 24x in the Construction industry in the US. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to US$3.00, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 24x in the Construction industry in the US. Reported Earnings • Mar 23
First half 2025 earnings released: EPS: US$0.088 (vs US$0.09 in 1H 2024) First half 2025 results: EPS: US$0.088 (down from US$0.09 in 1H 2024). Revenue: US$17.4m (up 32% from 1H 2024). Net income: US$984.5k (down 2.7% from 1H 2024). Profit margin: 5.7% (down from 7.7% in 1H 2024). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to US$4.29, the stock trades at a trailing P/E ratio of 23.9x. Average trailing P/E is 25x in the Construction industry in the US. New Risk • Mar 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (27% average weekly change). Minor Risks High level of debt (578% net debt to equity). Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Profit margins are more than 30% lower than last year (8.4% net profit margin). Market cap is less than US$100m (US$73.2m market cap). Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to US$4.26, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 27x in the Construction industry in the US. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to US$6.36, the stock trades at a trailing P/E ratio of 35.5x. Average trailing P/E is 35x in the Construction industry in the US. Board Change • Jan 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. CEO & Chairman Chi Ming Lam is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to US$6.79, the stock trades at a trailing P/E ratio of 37.2x. Average trailing P/E is 33x in the Construction industry in the US. Announcement • Dec 18
Ming Shing Group Holdings Limited Appoints Wenjin Li to Its Board of Directors Ming Shing Group Holdings Limited announced a significant update in its board of directors (the Board of Directors). The company announced the increase in the size of its Board of Directors by one (1), bringing the total number of directors to five (5) and the appointment of Wenjin Li to its board of directors as the fifth director. Mr. Li, age 45, has over 20 years of experience in business administration and sales and marketing. His expertise will be pivotal to Ming Shing’s future business development. Mr. Wenjin Li, age 45, has over 20 years of experience in business administration and sales and marketing. Mr. Li currently serves as general manager of Xiamen Zhenghe Xinneng Digital Technology Co., Ltd, a position he has held since 2016. From 2007 to 2016, he was general manager of FeiQuBuKe (Xiamen) Information Technology Co. Ltd. From 2004 to 2007, he was vice president of Jinan Dali Food Co. Ltd. From 2001 to 2004, he was sales manager of Tsingtao Brewery Group (Guangdong Company and Fujian Company). Mr. Li obtained a bachelor of business management from Xiamen University in 2001. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$6.06, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 31x in the Construction industry in the US. Board Change • Dec 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. CEO & Chairman Chi Ming Lam is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 23
Ming Shing Group Holdings Limited has completed an IPO in the amount of $8.25 million. Ming Shing Group Holdings Limited has completed an IPO in the amount of $8.25 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,500,000
Price\Range: $5.5
Discount Per Security: $0.4125