SU Group secures record $11.3 million hospital security contract

HONG KONG - SU Group Holdings Limited (NASDAQ:SUGP) has been awarded an HK$88.5 million (approximately US$11.3 million) contract to implement security and monitoring systems for a major hospital expansion project in Hong Kong, the company announced Wednesday. The company, which maintains a strong balance sheet with more cash than debt and a healthy current ratio of 3.37, has seen its revenue grow by 25% over the last twelve months.

The contract, described as the largest in the company’s history, involves designing and integrating comprehensive security infrastructure including IP-based public address systems, CCTV, access control systems, and various safety technologies.

The project encompasses approximately 3,000 CCTV cameras, 3,500 access doors, and 3,000 speakers covering 370,233 square meters. Additional components include a master clock system, video phone system, and induction loop system for hearing-impaired individuals.

"We are proud to be part of the team supporting this major hospital expansion and upgrade," said Dave Chan, Chairman and CEO of SU Group, in a press release statement.

The Hong Kong-based security engineering services company expects to begin recognizing revenue from the project in the fourth quarter of 2025. The implementation aims to support increased patient capacity and enhance safety measures across the hospital facility.

SU Group, which trades on the Nasdaq, specializes in providing security-related engineering services, security guarding, and vocational training services. The company has been delivering security systems for commercial properties, public facilities, and residential properties in Hong Kong for over two decades.

The contract aligns with the company’s strategic focus on healthcare infrastructure and smart security solutions in urban environments, according to the announcement. According to InvestingPro analysis, SUGP is currently trading below its Fair Value, with technical indicators suggesting the stock is in oversold territory. Subscribers to InvestingPro can access 11 additional key insights about SUGP’s financial health and market position, along with detailed valuation metrics and growth forecasts.

In other recent news, SU Group Holdings Ltd announced plans to hold an extraordinary general meeting for its shareholders. The company, which operates in the security services sector, has distributed a proxy statement and notice regarding this meeting. These documents include a proxy statement, notice of the meeting, a form of proxy card, and a voting instruction form. The materials aim to inform shareholders about the meeting and facilitate their participation and voting. However, the company has not disclosed the specific agenda items or proposals that will be considered during the meeting. According to SU Group Holdings, the notice and related documents will be mailed to shareholders. This information was revealed in a filing with the U.S. Securities and Exchange Commission.

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