Class A Office Building Selects SU Group to Significantly Bolster Security

Rhea-AI Summary

SU Group Holdings (SUGP) has been selected to enhance security at a premier Class A office building in Hong Kong. The company will install high-security integrated lintel roller shutters, manufactured by Charter Global/U.K. and certified to LPS 1175 Issue 7 SR2 by the Loss Prevention Certification Board (LPCB).

The shutters are designed to resist forced entry attempts and feature advanced locking systems and anti-lift features. Installation is expected to complete by Q2 2025. The security solution offers multiple benefits including energy cost reduction, noise reduction, storm resistance, and enhanced property value.

CEO Dave Chan highlighted that increasing smash and grab threats and rising costs from damage and theft are driving demand for high-security roller shutters with international certification standards. The company anticipates this project will lead to significant sales growth.

Positive

• Secured new contract with premier Class A office building in Hong Kong
• Product certified by globally recognized LPCB certification
• Company expects significant sales growth from this reference project

Negative

• None.

News Market Reaction

+1.75%

1 alert

+1.75% News Effect

On the day this news was published, SUGP gained 1.75%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HONG KONG, Jan. 10, 2025 /PRNewswire/ -- SU Group Holdings Limited (Nasdaq: SUGP) ("SU Group" or the "Company"), an integrated security-related engineering services company in Hong Kong, today announced one of Hong Kong's premier Class A office buildings has selected SU Group to significantly bolster security at the prime location.

Under the agreement, SU Group will install high security integrated lintel roller shutters designed to withstand attack by a determined opportunist using bodily force and mechanically advanced tools. Advanced locking systems and anti-lift features increase resistance to forced entry, while the visible presence of a secure shutter acts as a deterrent to potential burglars. The installation is scheduled to be complete by the end of Q2 2025.

The high security integrated lintel roller shutters being installed are meticulously manufactured by Charter Global/U.K., and certified to LPS 1175 Issue 7 SR2. They are independently tested by the Loss Prevention Certification Board (LPCB), a globally recognized third-party certification body delivering certainty for over 150 years. Engineered to integrate within a building's structure, the aesthetically pleasing and functionally efficient shutters remove the need for an unsightly standard head-box, while providing enhanced security. Other benefits include lowering energy costs by helping to regulate heat loss in winter and heat gain in summer; reduction of noise; storm and debris resistance; protection of interior furnishings from fading; increased privacy; low maintenance; longevity and durability; customizable design; and enhanced property value and appeal.

SU Group's Chairman and CEO, Dave Chan, commented, "With the advent of new materials and technologies, high-security roller shutters have become the first line of defense for many property owners, ranging all the way from prime location Class A commercial buildings to residential and industrial facilities. Increased smash and grab threats combined with escalating costs from damage and theft are serving as catalysts for growing demand for high-security roller shutters backed by an internationally recognized standard. As a result, we expect news of our latest win to serve as a springboard for a very meaningful surge in sales as we move forward."

About SU Group Holdings Limited

SU Group (Nasdaq: SUGP) is an integrated security-related services company that primarily provides security-related engineering services, security guarding and screening services, and related vocational training services in Hong Kong. Through its subsidiaries, SU Group has been providing turnkey services to the existing infrastructure or planned development of its customers through the design, supply, installation, and maintenance of security systems for over two decades. The security systems that SU Group provides services include threat detection systems, traffic and pedestrian control systems, and extra-low voltage systems in private and public sectors, including commercial properties, public facilities, and residential properties in Hong Kong. For more information visit www.sugroup.com.hk.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "should," "will," "could" and similar expressions. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's ability to renew contracts with recurring customers; the Company's ability to secure new contracts; the Company's ability to accurately estimate risks and costs and perform contracts based on the Company's estimates; the Company's relationship with the Company's suppliers and ability to manage quality issues of the systems; the Company's ability to obtain or renew the Company's registrations, licenses, and certificates; the Company's ability to manage the Company's subcontractors; the labor costs and the general condition of the labor market; the Company's ability to compete effectively; the Company's ability to successfully manage the Company's capacity expansion and allocation in response to changing industry and market conditions; implementation of the Company's expansion plans and the Company's ability to obtain capital resources for planned growth; the Company's ability to acquire sufficient products and obtain equipment and services from the Company's suppliers in suitable quantity and quality; the Company's dependence on key personnel; the Company's ability to expand into new businesses, industries, or internationally and to undertake mergers, acquisitions, investments, or divestments; changes in technology and competing products; general economic and political conditions, including those related to the security-related engineering services industry; possible disruptions in commercial activities caused by events such as natural disasters, terrorist activities, political, economic, and social instability, and fluctuations in foreign currency exchange rates, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the "SEC"), including the Company's most recently filed Annual Report on Form 20-F and its subsequent filings. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.

 

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SOURCE SU Group Holdings Limited

FAQ

When will SUGP complete the security installation at the Hong Kong Class A office building?

The installation is scheduled to be completed by the end of Q2 2025.

What security certification standard does SUGP's new roller shutter system meet?

The roller shutters are certified to LPS 1175 Issue 7 SR2 by the Loss Prevention Certification Board (LPCB).

What are the main benefits of SUGP's new security roller shutter system?

The system offers enhanced security, energy cost reduction, noise reduction, storm resistance, protection from fading, increased privacy, low maintenance, durability, and enhanced property value.

How does this new contract impact SUGP's future business outlook?

The company expects this contract to serve as a springboard for a meaningful surge in sales moving forward, driven by increasing demand for high-security roller shutters.