Ming Shing Group Holdings Limited Announces Subsidiary Lead Benefit (HK) Limited Purchased 333 Bitcoins

Rhea-AI Summary

Ming Shing Group Holdings (NASDAQ: MSW), a Hong Kong-based wet trades works service provider, has announced that its wholly-owned subsidiary Lead Benefit (HK) purchased 333 Bitcoins at an average price of US$81,555 per Bitcoin on February 28, 2025.

The total investment amounts to approximately US$27 million, using idle funds for short-term investment to capture potential Bitcoin appreciation. The company emphasizes that the Bitcoin market's high liquidity allows for easy disposal if funds are needed for their core wet trade works business.

Lead Benefit (HK) was incorporated on December 23, 2024, through Lead Benefit International , a BVI business company established on December 9, 2024, with Ming Shing as the sole shareholder.

Positive

• Significant Bitcoin investment of US$27 million shows strong cash position
• High liquidity of Bitcoin investment provides flexibility for quick conversion to working capital
• Strategic use of idle funds for potential asset appreciation

Negative

• Large exposure to volatile cryptocurrency market (US$27M in Bitcoin)
• Significant deviation from core business of wet trades works
• Short-term investment strategy may indicate lack of growth opportunities in main business

Hong Kong, March 11, 2025 (GLOBE NEWSWIRE) -- Ming Shing Group Holdings Limited (the “Company” or “Ming Shing”) (NASDAQ: MSW), a Hong Kong-based company mainly engaged in wet trades works whose mission it is to become the leading wet trades works service provider in Hong Kong, announces a significant update in its business development.

Ming Shing is pleased to announce that its wholly-owned Hong Kong subsidiary, Lead Benefit (HK) Limited (“Lead Benefit”), purchased 333 Bitcoins at an average price of US$81,555 per Bitcoin on February 28, 2025, with a total investment of approximately US$27 million. Lead Benefit was incorporated on December 23, 2024, with Lead Benefit International Limited, as its sole shareholder. Lead Benefit International Limited, a BVI business company, was incorporated on December 9, 2024, with Ming Shing as its sole shareholder. Ming Shing intends to use its idle funds to purchase Bitcoins as short-term investment to capture the potential appreciation of Bitcoin and increase its assets. The Company considers that Bitcoin market is highly liquid and the Bitcoins can be easily disposed to fund the Company’s wet trade works business, if required.

“Ming Shing is an active wet trade works service provide in Hong Kong.” Stated Mr. Wenjin Li, director of Ming Shing. “With the further Bitcoin investment, we aim to boost our asset growth. We are devoted to create additional value for our shareholders. We are also actively exploring options for the Company to grow further.”

About Ming Shing Group Holdings Limited

Ming Shing Group Holdings Limited is a Hong Kong-based company mainly engaged in wet trades works, such as plastering works, tile laying works, brick laying works, floor screeding works and marble works. With a mission to become the leading wet trades works services provider in Hong Kong and the United States, the Company strives to provide quality services that comply with its customers’ quality standards, requirements, and specifications. The Company conducts its business through its two wholly-owned Hong Kong operating subsidiaries, MS (HK) Engineering Limited and MS Engineering Co. Limited. MS (HK) Engineering Limited is a registered subcontractor and a registered specialist trade contractor under the Registered Specialist Trade Contractors Scheme of the Construction Industry Council and undertakes both private and public sector projects, while MS Engineering Co., Limited mainly focuses on private sector projects. For more information, please visit the Company’s website: https://ir.ms100.com.hk.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. 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 may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “aim”, “anticipate”, “believe”, “estimate”, “expect”, “going forward”, “intend”, “may”, “plan”, “potential”, “predict”, “propose”, “seek”, “should”, “will”, “would” or other similar expressions in this press release. 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.

For more information, please contact:

Ming Shing Group Holdings Limited

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

FAQ

How many Bitcoins did Ming Shing Group (MSW) purchase in February 2025?

Ming Shing Group's subsidiary Lead Benefit purchased 333 Bitcoins at an average price of US$81,555 per Bitcoin on February 28, 2025.

What is the total value of MSW's Bitcoin investment in February 2025?

The total Bitcoin investment made by Ming Shing Group (MSW) was approximately US$27 million.

Why did Ming Shing Group (MSW) invest in Bitcoin?

Ming Shing invested idle funds in Bitcoin as a short-term investment to capture potential appreciation and increase its assets, with the option to easily liquidate for its core business if needed.

When was Lead Benefit (HK) , MSW's subsidiary responsible for Bitcoin purchases, established?

Lead Benefit (HK) was incorporated on December 23, 2024, as a wholly-owned subsidiary of Ming Shing Group.