Ming Shing expands board of directors, appoints new COO

HONG KONG - Ming Shing Group Holdings Limited (NASDAQ:MSW), a Hong Kong-based wet trades works service provider with a market capitalization of $36.72 million, announced Wednesday it has expanded its board of directors from five to seven members and appointed Han Yan as Chief Operating Officer. The company’s stock, which InvestingPro analysis indicates is currently overvalued, has shown significant volatility with a 16% gain in the past week despite falling 33% over the last six months.

The company has added Han Yan, 29, and Qiuxian Qiao, 42, to its board of directors. Yan, who will also serve as COO, brings over nine years of business administration experience and is the founder of Mask Network, a platform that integrates Web3 applications into mainstream social media. He has also been managing partner at Bonfire Union, a venture capital firm focused on early-stage Web3 projects, since May 2022. According to InvestingPro data, these appointments come as Ming Shing faces operational challenges, with negative EBITDA of -$5.2 million and weak gross profit margins.

Qiao brings more than 15 years of experience in auditing, finance, risk management, and business management. She currently serves as a paralegal at Guangdong Zhiheng (Qianhai) Law Firm and previously held executive positions at HSC Resources Group Limited and Zhong Ji Longevity Science Group Limited.

"Mr. Yan’s business administration experience and his unique experience in Web3 applications will certainly bring new insights to the Company’s business development," said Wenjin Li, CEO of Ming Shing, in a press release statement.

Ming Shing Group Holdings primarily provides wet trades works services including plastering, tile laying, brick laying, floor screeding, and marble works through its two Hong Kong-based subsidiaries. The company serves both private and public sector projects, generating revenue of $33.85 million in the last twelve months, with a growth rate of 22.77%. InvestingPro subscribers can access 11 additional key insights about Ming Shing’s financial health and market performance, along with detailed valuation metrics and growth forecasts.

In other recent news, Ming Shing Group Holdings Limited has announced significant developments that could impact its future trajectory. The company revealed plans to acquire 4,250 bitcoins for approximately $483 million, with the transaction expected to close by December 31, 2025. This purchase will be financed through convertible promissory notes and warrants for company shares. In another update, Ming Shing Group Holdings has opted to adopt certain Cayman Islands governance exemptions on the Nasdaq. As a result, the company will follow its home country practices for specific Nasdaq Marketplace Rules, including those related to shareholder approval for certain securities issuances and the requirement to hold an annual meeting of shareholders. These decisions are part of Ming Shing Group’s strategy to align its operations with its home country regulations.

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