Wang and Lee Group to inspect Australian marble quarry

HONG KONG - Wang and Lee Group, Inc. (NASDAQ:WLGS), a Hong Kong-based construction company with a market capitalization of approximately $90 million and an impressive 732% return over the past year according to InvestingPro, announced today that its CEO, Mr. Joe Ho, along with Ms. Kim Cheng, Director of NQ Marble Pty Ltd, will be visiting a marble quarry in Australia to oversee the progress of a significant project. The visit, scheduled within the next 10 days, is a follow-up to the company’s recent acquisition of a US$71 million contract which is central to its green energy strategy and sustainable infrastructure goals.

The inspection will assess the operational readiness, resource evaluation, and integration plans for the quarry, which is set to produce high-quality Australian natural marble for the global construction market. The company, which maintains a healthy current ratio of 1.91 and has achieved revenue growth of 67% in the last twelve months, plans to leverage the quarry to support its solar battery crypto mining initiatives, a move that reflects the company’s commitment to environmental, social, and governance (ESG) standards.

Mr. Ho expressed optimism about the dual revenue streams this project is expected to generate. He stated, "This onsite visit marks a critical step in transforming our vision into actionable progress. The Australian quarry is not just a source of premium marble; it is a launchpad for pioneering ESG-driven technologies."

Ms. Cheng also commented on the upcoming inspection, highlighting the team’s readiness to collaborate with local partners to ensure operational excellence. She emphasized the venture’s alignment with the rising global demand for sustainable building materials and the company’s positioning as a leader in eco-conscious resource management.

The Australia quarry project is part of Wang and Lee Group’s broader expansion into the green energy sector. By converting mining byproducts into renewable energy sources, the Group aims to reduce waste, lower carbon emissions, and create scalable clean energy solutions for adjacent industries.

Wang and Lee Group specializes in the installation of various Electrical & Mechanical Systems and provides design and contracting services to a wide range of clients in the construction industry. This press release contains forward-looking statements and is based on a press release statement from the company. The forward-looking statements are subject to risks and uncertainties, and actual results could differ materially from those projected.

In other recent news, Wang & Lee Group has secured approximately $12 million through a securities purchase agreement with institutional investors. This direct offering involves the sale of over 3.5 million ordinary shares, with Maxim Group LLC acting as the sole placement agent. Additionally, Wang & Lee Group has acquired Solar (HK) Limited for HK$15 million, aiming to boost its renewable energy projects, including a solar battery-powered crypto mine in Queensland, Australia. The acquisition is expected to enhance the company’s capabilities in deploying hybrid solar-battery systems, creating dual revenue streams for landowners.

Moreover, Wang & Lee Group has entered into a $71 million contract with NQ Marble Pty Ltd for marble exploration and the development of a solar battery crypto farm in Queensland. This project will combine marble production with renewable energy generation, aligning with Australia’s renewable energy targets. In another significant development, the company announced a collaboration to establish Hong Kong’s first solar-powered cryptocurrency battery farm in partnership with Sino Wealth Limited and local landowners. This project is valued at US$100 million in revenue and aims to harness Hong Kong’s solar energy potential.

These recent developments highlight Wang & Lee Group’s strategic focus on sustainable technology and renewable energy projects. The company continues to expand its footprint both locally and globally, aligning with environmental goals and seeking innovative solutions for energy generation.

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