Ming Shing Group Holdings Limited Reports Unaudited Financial Results for the Six Months Ended September 30, 2025

(SeaPRwire) –   Hong Kong, March 20, 2026 — Ming Shing Group Holdings Limited (“MSW” or the “Company”) (Nasdaq: MSW) is a limited liability exempted company incorporated in the Cayman Islands that does not maintain significant operations of its own. The Company operates through its indirect wholly-owned subsidiaries, MS (HK) Engineering Limited and MS Engineering Co., Limited, which provide wet trades services in Hong Kong. Today, the Company released its unaudited financial performance for the six-month period ending September 30, 2025.

Financial and Operating Highlights for the First Half of 2025

	●	Total revenue declined by 51.6%, falling from US$17,408,116 to US$8,431,393
	●	Gross profit dropped by 215.5%, shifting from a profit of US$2,398,855 to a gross loss of US$2,769,960
	●	Net income and total comprehensive income decreased by 466.1%, moving from a profit of US$984,549 to a net loss of US$3,604,539

Mr. Wenjin Li, the Company’s Chief Executive Officer, remarked, “Throughout our nearly ten-year operational history, we have concentrated on delivering wet trades services as a subcontractor. We are very proud of our project portfolio in this field. During the six months ended September 30, 2025, we remained dedicated to providing high-quality wet trades work to our clients while expanding our reach. By utilizing our established reputation, our technical expertise in wet trades, and our seasoned leadership team, we believe we are strategically positioned to benefit from the growth of the Hong Kong wet trades market and further grow our business.”

FINANCIAL RESULTS

Revenue

Revenue fell by 51.6% to US$8,431,393 for the six months ended September 30, 2025, compared to US$17,408,116 for the same period in 2024. This decrease was primarily due to the conclusion of the majority of contract works during the fiscal year ended March 31, 2025.

Cost of revenue

Cost of revenue decreased by 25.4%, from US$15,009,261 for the six months ended September 30, 2024, to US$11,201,353 for the six months ended September 30, 2025. This reduction was generally consistent with the decline in total revenue.

Gross profit and gross profit margin

The Company reported a gross loss of US$2,769,960 for the six months ended September 30, 2025, representing a decrease of US$5,168,815, or 215.5%, compared to a gross profit of US$2,398,855 for the six months ended September 30, 2024.

The downturn in gross profit was mainly caused by (a) additional work necessitated by variation orders on certain projects, where the final amounts are still being negotiated with clients; and (b) unforeseen delays in site instructions that resulted in cost overruns and extra work required to meet project requirements during the six-month period ended September 30, 2025.

Net (loss) income and total comprehensive (expense) income

Net income and total comprehensive income dropped by 466.1%, from a profit of US$984,549 for the six months ended September 30, 2024, to a net loss and total comprehensive expense of US$3,604,538 for the six months ended September 30, 2025. This decline was primarily a result of the gross loss incurred during the period.

About Ming Shing Group Holdings Limited

Ming Shing Group Holdings Limited is a Hong Kong-based firm primarily engaged in wet trades, including plastering, tile and brick laying, floor screeding, and marble works. With the goal of becoming a premier wet trades service provider in both Hong Kong and the United States, the Company focuses on delivering quality services that adhere to client standards and specifications. The Company operates through two wholly-owned subsidiaries in Hong Kong: MS (HK) Engineering Limited, a registered specialist trade contractor under the Construction Industry Council’s scheme that handles both public and private projects, and MS Engineering Co., Limited, which focuses primarily on the private sector. For further details, please visit the Company’s website: https://ir.ms100.com.hk.

Forward-Looking Statements

Certain statements within this announcement constitute forward-looking statements. These statements involve various known and unknown risks and uncertainties and are based on the Company’s current projections regarding future events that may influence its financial status, operations, and business strategy. These statements can often be identified by words such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “will,” or similar terms. The Company assumes no obligation to publicly update or revise any forward-looking statements due to new information or future events, except as required by law. While the Company believes its expectations are reasonable, it cannot guarantee future results, and actual outcomes may differ materially. Investors are encouraged to review the risk factors detailed in the Company’s SEC filings and registration statements.

For more information, please contact:

Ming Shing Group Holdings Limited

Investor Relations Department
Email: ir@ms100.com.hk