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Wang & Lee Group, Inc. Ordinary Shares - WLGS STOCK NEWS

Welcome to our dedicated news page for Wang & Lee Group Ordinary Shares (Ticker: WLGS), a resource for investors and traders seeking the latest updates and insights on Wang & Lee Group Ordinary Shares.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Wang & Lee Group Ordinary Shares's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Wang & Lee Group Ordinary Shares's position in the market.

Rhea-AI Summary
WANG & LEE GROUP, Inc. reported strong financial results for Fiscal Year 2023, with revenue increasing by 63.7% to $6.83 million, gross profit increasing by 210.6% to $2.44 million, and total shareholders' equity increasing by 449.0% to $5.98 million. The Company's CEO highlighted product diversification and sales growth of over 63% in FY 2023. Adjusted EBITDA margin was 25.32% for 2023, showcasing operational efficiency. However, general and administrative expenses increased by 102.6% to $2.89 million, impacting net profit. Interest expenses and other income also saw significant changes, contributing to a net loss of $0.33 million for FY 2023.
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Rhea-AI Summary
WANG & LEE GROUP, Inc. (Nasdaq: WLGS) announced its unaudited operating results for the six months ended June 30, 2023, reporting a 15.2% increase in revenue to $1.44 million. However, the cost of revenues also increased by 35.6%, resulting in a gross profit of $0.25 million, down from $0.38 million in the same period of 2022. General and administrative expenses rose by 204.8% to $1.89 million, leading to a net loss of $1.62 million, significantly higher than the $0.24 million loss in 2022.
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WANG & LEE GROUP, Inc. has received notification from Nasdaq that it no longer complies with the minimum bid price requirement for continued listing. The company has 180 calendar days to regain compliance.
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Wang & Lee Group, Inc. Ordinary Shares

Nasdaq:WLGS

WLGS Rankings

WLGS Stock Data

8.07M
3.10M
79.49%
0.37%
0.16%
Water and Sewer Line and Related Structures Construction
Construction
Link
United States of America
Kwun Tong