SU Group Wins Major Customer Security Project

HONG KONG, Feb. 12, 2024 /PRNewswire/ — SU Group Holdings Limited (Nasdaq: SUGP) (“SU Group” or the “Company”), an integrated security-related engineering services company in Hong Kong, today announced it has won a major customer security project to provide security engineering services for a property complex in Hong Kong.

Under the agreement, SU Group will design, supply and implement a comprehensive, integrated Extra Low Voltage (“ELV”) security solution. The tailored solution will include integration of a high-definition CCTV system, with both state-of-the-art detection and image processing, a communications system, high-speed WiFi, secure mailbox access, and a video-enabled door security system. SU Group will also provision a CABD system (Communal Aerial Broadcast Distribution), which will serve as an amplifier to prevent weak signals at the property.

SU Group’s Chairman and CEO, Dave Chan, commented, “This is another great win for us, which we expect will serve as our latest showcase project given the complexities of the security system this customer contracted us for and the high profile nature of the prestigious property. From a strategic standpoint, this is also an example of the higher value, higher margin integrated security-related engineering services projects we are targeting. We are very well positioned for growth given the scale of our company, size of our security solutions products and services portfolio, and the strong customer demand due to persistent security threats. We believe our customer opportunity pipeline is the largest it has been in the Company’s history, and we are optimistic about the potential for accelerated revenue and profit growth 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 acquire sufficient products and obtain equipment and services from the Company’s suppliers in suitable quantity and quality, 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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