The construction contractor business in
Hong Kong and Mainland China is thriving, particularly in contract engineering, installation, and outfitting of essential systems like electrical, mechanical ventilation, air-conditioning, fire safety, water supply, and sewage disposal.
Several companies are actively engaged in this sector:
Chevalier International Holdings Limited specializes in electrical &t mechanical engineering, offering services in HVAC, fire safety, plumbing, and drainage systems for both public and private projects
Yung Kee Engineering Ltd has a strong presence in electrical, fire protection, ventilation, and plumbing fields, with operations extending to Mainland China and Macau
Wang & Lee Group, Inc. focuses on low-voltage electrical systems, mechanical ventilation, air-conditioning, fire safety, and water supply/sewage disposal for a wide range of clients, including government projects, hotels, hospitals, and shopping malls
The industry benefits from government infrastructure projects, private sector investments, and urban development initiatives. Hong Kong's public works projects and Mainland China's rapid urbanization continue to drive demand for engineering and installation services.
WANG & LEE GROUP, Inc. (NASDAQ: WLGS) announced the successful closing of its acquisition of Solar (HK) Limited (“SolarHK”). The transaction, initially announced on March 3, 2025, has now been finalized, marking a transformative step in WLGS’s mission to accelerate Hong Kong’s renewable energy transition through integrated solar and energy storage solutions.
Accelerating Hong Kong’s Green Energy Vision
The acquisition of SolarHK strengthens WLGS’s position as a comprehensive provider of sustainable energy systems. By combining SolarHK’s proven solar photovoltaic (“PV”) expertise with WLGS’s advanced lithium-ion battery technology, the companies will deliver end-to-end renewable energy solutions for commercial, industrial, and residential sectors. SolarHK’s extensive portfolio, including high-profile projects such as installations at Tsing Yi Shipyard, Quon Hing Concrete Manufacturer, and In n Out Storage Aberdeen, now aligns with WLGS’s energy storage innovations to optimize energy efficiency and grid resilience.
Synergizing Technology and Infrastructure
SolarHK’s network spans over 50 locations across Hong Kong, providing WLGS with immediate access to a robust client base and localized expertise. Post-acquisition, WLGS will integrate SolarHK’s solar infrastructure with its proprietary battery storage systems, enabling businesses and households to store excess solar energy and reduce reliance on traditional power grids. Additionally, through WLGS’s partnership with Linko Smart Technology Limited, SolarHK’s clients will gain access to AI-driven smart energy management systems and IoT-enabled devices, further enhancing energy savings and operational efficiency.
Wang and Lee Group, Inc. (NASDAQ: WLGS) announced its strategic investment in Nasdaq-listed TROOPS, Inc. (NASDAQ: TROO). This collaboration aims to unlock synergies by integrating Wang and Lee’s cutting-edge AI-driven advertising media, smart home devices, and blockchain-powered token rewards into TROOPS’ expansive infrastructure.
The proposed investment will enable Wang and Lee to deploy its AI-driven digital advertising platforms and IoT-enabled smart home solutions across TROOPS’ potential 200-building portfolio, reaching its vast number of tenants and visitors. Central to the partnership is the introduction of an Environmental, Social, and Governance(“ESG”)-aligned token rewards ecosystem, where users engaging with these technologies will earn redeemable tokens. These tokens can be exchanged for exclusive financial and insurance benefits, including discounts on electric vehicle (“EV”) insurance premiums, reduced loan interest rates, and other value-added services such as LED lights.
Synergies and Strategic Vision??By leveraging TROOPS’ established real estate footprint, Wang and Lee seeks to accelerate adoption of its smart technologies while creating a seamless, interconnected ecosystem. Key initiatives include:
AI-Powered Ad Media: Delivering hyper-targeted, data-driven advertising to building tenants and visitors, enhancing revenue streams for both companies.
Smart Home Device Integration: Installing Wang and Lee’s IoT devices to optimize energy efficiency, security, and convenience for residents.
Tokenized Rewards System: Incentivizing user engagement through blockchain tokens tied to sustainability goals (“ESG”), redeemable for financial products that promote greener choices, such as EV insurance discounts and LED lights.?
“This investment marks a transformative step in our mission to build smarter, more sustainable communities,” said Mr. Ho, CEO of Wang and Lee. “TROOPS’ vast network provides the ideal platform to scale our AI and IoT innovations while rewarding users for participating in a greener economy. Together, we will redefine how technology enhances everyday living and drives ESG impact.”
Driving ESG Value and Market Growth
The partnership aligns with global ESG priorities by promoting energy-efficient technologies and financially empowering users through tokenized rewards. Wang and Lee anticipates heightened demand for its smart devices and ad services as TROOPS’ buildings become hubs of innovation, further solidifying the company’s leadership in property technology and blockchain solutions.
The company received written notification on May 6, 2025, from The Nasdaq Stock Market LLC that it no longer complies with the minimum bid price requirement for continued listing on the Nasdaq Capital Market pursuant to the Nasdaq Listing Rule 5550(a)(2).
The closing bid price for the Company's ordinary shares had fallen below $1.00 per share for 30 consecutive business days and accordingly, the Company no longer complies with the minimum bid price requirement for continued listing on the Nasdaq Capital Market pursuant to the Nasdaq Listing Rule 5550(a)(2). However the Nasdaq Listing Rules also provide the Company a compliance period of 180 calendar days (i.e. by November 3, 2025) in which to regain compliance.
If at any time during this 180-days period, the closing bid price of the Company's ordinary shares is at least $1.00 for a minimum of ten consecutive business days, the Company will be provided with written confirmation of compliance and the matter will be closed.
The Company is considering actions that it may take in response to this notification in order to regain compliance with the continued listing requirements, but no decisions about a response have been made at this time.
Wang & Lee Group, Inc. (Nasdaq: WLGS) (the “Company”) announced the successful installation of the first ever developed and made in Hong Kong smart flooring system capable of converting kinetic energy from human footsteps into usable electricity. This milestone achievement, developed in collaboration with City University of Hong Kong (“CityU”), marks a transformative leap in sustainable infrastructure and underscores the Company’s commitment to its Environmental, Social and Governance initiative and advancing innovative clean energy technologies.
The groundbreaking smart flooring project, installed in the high pedestrian traffic corridor in Hang Seng Bank Headquarters Building in Central, Hong Kong, utilizes advanced piezoelectric and electromagnetic technologies to harness energy generated by pedestrian movement. This energy is stored in integrated batteries and can power lighting, digital signage, and other low-voltage applications, reducing reliance on traditional power sources.
Mr. Ho, CEO of Wang & Lee Group, stated, “Today’s success is a testament to Hong Kong’s spirit of innovation and our shared vision for a greener future. By turning everyday actions like walking into a source of clean energy, we are redefining urban sustainability.
Hong Kong, March 24, 2025 (GLOBE NEWSWIRE) -- Wang and Lee Group, Inc. (NASDAQ: WLGS) today announced that its CEO, Mr. Joe Ho, and Ms. Kim Cheng, Director of NQ Marble Pty Ltd, will travel to Australia, within the next 10 days to conduct an onsite inspection of the marble quarry central to the Group’s recently awarded US$71 million contract. This visit underscores the company’s commitment to advancing its dual green energy strategy and securing long-term growth opportunities in sustainable infrastructure.
The inspection will focus on operational readiness, resource evaluation, and integration plans for the quarry’s marble extraction and solar crypto mining initiatives. Mr. Ho emphasized that the project is poised to unlock two new revenue streams for the group: high-quality Australian natural marble production for global construction markets and solar battery crypto mining. Additionally, the project aligns with the Group’s strategic push into the ESG (Environmental, Social, and Governance) sector, reinforcing its leadership in sustainable development.
CEO Joe Ho: Vision for Growth and Sustainability??“This onsite visit marks a critical step in transforming our vision into actionable progress,” said Mr. Ho. “The Australian quarry is not just a source of premium marble; it is a launchpad for pioneering ESG-driven technologies. By harnessing renewable energy potential, we aim to set a new industry benchmark while diversifying our revenue base. This project exemplifies how economic growth and environmental stewardship can coexist. We are also bullish on Bitcoin reaching US$100,000 and above.”
NQ Marble Director Kim Cheng: Operational Excellence
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