[144] SU Group Holdings Ltd SEC Filing

Rhea-AI Filing Summary

SU Group Holdings Ltd (SUGP) filed a Form 144 disclosing a proposed sale of 4,000 Class A Ordinary Shares through Tiger Brokers (HK) Global Limited with an aggregate market value of $23,960.00. The shares were acquired on 12/09/2024 under the company’s 2024 Equity Incentive Plan from SU Group Holdings Limited and the acquisition/payment method is recorded as cashless. The approximate date of sale is 09/23/2025. The filing also reports a prior sale on 07/09/2025 of 12,000 ordinary shares for $186,416.82 by Kong Wing Fai. The signer represents no undisclosed material adverse information.

Positive

• Disclosure through Rule 144 enhances market transparency by documenting insider disposition plans
• Broker identified (Tiger Brokers (HK) Global Limited), providing clear execution channel for the proposed sale
• Previous sale disclosed (12,000 shares for $186,416.82), offering additional transaction context

Negative

• Insider liquidity events reported: proposed sale of 4,000 shares and prior sale of 12,000 shares could be viewed negatively by some investors
• No performance or operational context is provided in the filing, so market cannot assess reasons for the sales from this document alone

Insights

Financial Analyst

TL;DR: Routine insider sale disclosure; modest proposed sale following a larger recent sale, limited immediate financial impact.

The Form 144 notifies the market of a proposed sale of 4,000 Class A ordinary shares with a disclosed market value of $23,960, acquired under the 2024 Equity Incentive Plan and to be sold via Tiger Brokers (HK). The filing also records a prior sale of 12,000 shares generating $186,416.82. These are standard Rule 144 disclosures that improve transparency about insider liquidity. There is no earnings, operational or forward-looking information in this filing to suggest a change in business fundamentals.

Compliance / Risk Analyst

TL;DR: Filing appears procedural and compliant; signer affirms no material nonpublic information.

The submission contains required broker, acquisition and disposition details and includes the signer’s certification regarding material nonpublic information. The acquisition is listed as cashless under an equity incentive plan, and the proposed sale is routed through a named broker. From a compliance viewpoint, the filing presents the necessary elements for Rule 144 notice; it does not disclose any regulatory issues or deviations from expected reporting practice.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A Ordinary Shares	Tiger Brokers (HK) Global Limited 1/F, 308 Des Voeux Road Central Hong Kong K3 000000	4000	23960.00	563092	09/23/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Ordinary Shares	12/09/2024	2024 Equity Incentive Plan	SU Group Holdings Limited			4000	12/09/2024	Cashless

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Kong Wing Fai 12A, 16/F, NASSAU STREET MEI FOO SUN CHUEN KOWLOON K3 NA	Ordinary Shares	07/09/2025	12000	186416.82

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did SU Group Holdings (SUGP) disclose in this Form 144?

The filing discloses a proposed sale of 4,000 Class A Ordinary Shares via Tiger Brokers (HK) with an aggregate market value of $23,960.00 and a prior sale of 12,000 shares on 07/09/2025 for $186,416.82.

When were the shares to be sold acquired?

The shares to be sold were acquired on 12/09/2024 under the 2024 Equity Incentive Plan from SU Group Holdings Limited, with the acquisition/payment recorded as cashless.

Who is the broker handling the proposed sale?

The proposed sale lists Tiger Brokers (HK) Global Limited as the broker, with the exchange noted as Nasdaq and an approximate sale date of 09/23/2025.

Does the Form 144 state whether the filer knows any material nonpublic information?

Yes. By signing the notice the person for whose account the securities are to be sold represents that they do not know any material adverse information about the issuer that has not been publicly disclosed.

How much were the gross proceeds from the prior sale disclosed in this filing?

The prior sale on 07/09/2025 of 12,000 ordinary shares listed gross proceeds of $186,416.82.