SU Group Holdings Ltd (NASDAQ: SUGP)

SU Group is a holding company incorporated in the Cayman Islands that conducts its operations through Hong Kong subsidiaries Shine Union and Fortune Jet, providing integrated security related services.

The company generates revenue primarily from security related engineering services, which include the design, supply, installation, and maintenance of threat detection systems, traffic and pedestrian control systems, and low voltage electrical systems, and from security guarding and screening services as well as related vocational training services. In the fiscal year ended September 30, 2025, security related engineering services contributed HK$111.9 million (US$14.4 million), representing 58.1% of total revenues; security guarding and screening services generated approximately HK$76.8 million (US$9.9 million), or 39.9% of total revenues; and related vocational training produced HK$3.7 million (US$0.5 million), accounting for 1.9% of total revenues.

The company operates through the following segments: security related engineering services and security guarding and screening services and related vocational training services.

• Security related engineering services: This segment involves the design, supply, installation, and maintenance of security systems such as threat detection systems, traffic and pedestrian control systems, and low voltage systems, and includes project-based contracting, maintenance services, and equipment leasing.

• Security guarding and screening services and related vocational training: This segment provides security guarding services, screening services for air cargo, and vocational training courses such as the Certificate in Basic Security Services under QASRS and mandatory safety training.

SU Group holds a competitive position in Hong Kong's security services market, where it faces rivals such as Manifest Marketing Limited and ECI Technology Holdings Ltd, and differentiates itself through a broad portfolio of security system solutions, operational flexibility, an established reputation, and strong access to skilled professionals.

The company serves a diverse customer base that includes government departments, property management firms, logistics and air cargo operators, construction companies, educational institutions, and commercial entities such as banks and retailers.