Core Viewpoint - SU Group Holdings Limited reported a 5.6% year-over-year revenue growth for the fiscal year ended September 30, 2025, driven by strong demand for security-related engineering services and expansion in guarding and screening operations [1][2]. Financial Performance - Revenues increased by HK$10.2 million, or 5.6%, from HK$182.2 million in fiscal year 2024 to HK$192.4 million (US$24.7 million) in fiscal year 2025, primarily due to increased revenues from security-related engineering services (HK$4.9 million) and security guarding and screening services (HK$5.3 million) [4]. - Cost of revenues rose by HK$27.1 million, or 20.1%, from HK$134.6 million in fiscal year 2024 to HK$161.6 million (US$20.8 million) in fiscal year 2025, mainly due to increased employee benefit expenses [5][6]. - Gross profit decreased by HK$16.9 million, or 35.4%, from HK$47.6 million in fiscal year 2024 to HK$30.7 million (US$4.0 million) in fiscal year 2025, with gross profit margin dropping from 26.1% to 16.0% [7]. - Selling, general, and administrative expenses increased by HK$12.7 million, or 35.2%, from HK$36.0 million in fiscal year 2024 to HK$48.7 million (US$6.2 million) in fiscal year 2025, attributed to increased promotional activities and employee benefit expenses [9]. - The company reported a net loss of HK$18.5 million (US$2.4 million) for fiscal year 2025, compared to a net income of HK$10.7 million in fiscal year 2024, resulting in a net loss margin of 9.6% [13]. Operational Insights - The company continues to invest in talent, technology, and market penetration to support long-term growth and leadership in the security-related engineering services sector [2]. - The company maintains a strong working capital position with cash and cash equivalents of HK$25.4 million (US$3.3 million) and working capital of approximately HK$62.1 million (US$8.0 million) as of September 30, 2025 [14]. Service Offerings - SU Group provides a range of security-related engineering services, including installation and maintenance of security systems, equipment rental, and security guarding and screening services [3][15].

Dividends and Shareholder Returns - For the fiscal year ended September 30, 2023, the company did not declare any dividends to shareholders[40]. - The company intends to retain all available funds and future earnings for business operations and expansion, with no dividends anticipated in the foreseeable future[39]. - The company has not paid dividends or made distributions to U.S. investors as of the date of the annual report[40]. - The company does not expect to pay dividends in the foreseeable future, which may affect shareholder returns[59]. - The company does not expect to pay dividends in the foreseeable future, relying instead on price appreciation for returns on investment[195]. - The company did not declare any dividends for the fiscal years ended September 30, 2023, 2024, and 2025[178]. Financial Performance and Projections - Revenues for the fiscal year ended September 30, 2023, were HK$163.69 million, with a projected increase to HK$182.16 million in 2024 and HK$192.39 million in 2025, representing a growth of 11.5% from 2023 to 2024 and 5.5% from 2024 to 2025[48]. - Gross profit decreased from HK$48.04 million in 2023 to HK$30.74 million in 2025, indicating a decline of 36.8% over the two-year period[48]. - Net income for 2023 was HK$9.80 million, which is expected to turn into a net loss of HK$18.48 million by 2025, reflecting a significant downturn in profitability[48]. - The company reported a net cash used in operating activities of HK$13.54 million in 2023, with a recovery to HK$14.10 million in 2024, followed by a further decline to HK$15.46 million in 2025[49]. - For the fiscal years ended September 30, 2023, 2024, and 2025, the company recorded revenues of HK$163.7 million, HK$182.2 million, and HK$192.4 million (US$24.7 million) respectively[176]. - The net income for the fiscal years ended September 30, 2023, 2024, and 2025 was HK$9.8 million, HK$10.7 million, and a net loss of HK$18.5 million (US$2.4 million) respectively[176]. Cash Management and Liquidity - The company has implemented an internal cash management policy to ensure financial control and liquidity management[42]. - Cash and cash equivalents increased from HK$16.40 million in 2023 to HK$52.34 million in 2024, before decreasing to HK$35.24 million in 2025, showing volatility in liquidity[49]. - Total assets rose from HK$114.44 million in 2023 to HK$157.08 million in 2024, but are projected to decline to HK$125.95 million in 2025, indicating potential challenges in asset management[48]. - Total liabilities increased slightly from HK$58.02 million in 2023 to HK$59.36 million in 2024, but are expected to decrease to HK$39.80 million in 2025, suggesting improved debt management[48]. - As of September 30, 2023, 2024, and 2025, the company had cash and restricted cash of HK$16.4 million, HK$52.3 million, and HK$35.2 million (US$4.5 million) held in financial institutions[168]. - The total unprotected cash and restricted cash held in banks amounted to HK$14.3 million, HK$50.0 million, and HK$30.4 million (US$3.9 million) as of September 30, 2023, 2024, and 2025 respectively[168]. Regulatory Environment and Compliance - The company is subject to the Holding Foreign Companies Accountable Act, which may impact trading of its Class A ordinary shares if audit reports are not inspected by the PCAOB for two consecutive years[44]. - The company’s auditor, Marcum Asia CPAs LLP, is not subject to the PCAOB's previous restrictions and is expected to continue regular inspections[45]. - The company is subject to new regulatory requirements from the PRC government regarding overseas listings, which may affect its operations and share value[93]. - The company is subject to data protection laws in Hong Kong, including the Personal Data (Privacy) Ordinance, which mandates lawful collection and processing of personal data[74]. - The recent amendments to the Personal Data (Privacy) Ordinance criminalize doxing and expand the enforcement powers of the Privacy Commissioner for Personal Data[76]. - The company is required to include a report on its internal control over financial reporting in its annual report for the fiscal year ended September 30, 2024, as mandated by the Sarbanes-Oxley Act[224]. Operational Risks and Challenges - The company has significant reliance on recurring customers, and any loss of business from these customers could adversely affect financial performance[56]. - The company is subject to various risks related to conducting operations in Hong Kong, including political and economic instability, which could impact profitability[57]. - The company relies entirely on the earnings and cash flow from its Hong Kong subsidiaries, which may face restrictions on paying dividends or transferring funds due to potential PRC government interventions[78]. - The company may face significant liabilities due to work safety risks and occurrences of accidents during its operations[143]. - The company may experience labor shortages or increases in labor costs, which could harm business operations and growth[121]. - The company may incur significant costs and harm its reputation due to claims arising from personal injuries or property damage during service provision[144]. Corporate Governance and Structure - The company’s corporate structure does not include a Variable Interest Entity (VIE) and does not intend to establish one[37]. - The company’s directors and officers collectively own 98.9% of the total voting power of the outstanding ordinary shares, which may significantly influence corporate decisions[192]. - The dual-class share structure allows Class B shares to have 50 votes per share compared to 1 vote per Class A share, concentrating control in the hands of a few[198]. - The company is incorporated under Cayman Islands law, which may limit shareholders' ability to protect their interests[209]. - Shareholders have no general rights under Cayman Islands law to inspect corporate records or requisition general meetings[211]. - The company's status as a "controlled company" under Nasdaq rules may exempt it from certain corporate governance requirements, potentially affecting shareholder protections[190]. Market and Competitive Landscape - The company faces significant competition in the security-related engineering services industry, which may lead to downward pricing pressures and reduced profit margins[182]. - The trading price of the company's Class A ordinary shares may be volatile, influenced by regulatory developments, operational results, and market conditions[186]. - Companies with public floats comparable to this company have experienced extreme volatility, which may affect the assessment of the Class A ordinary shares' value[201]. - If analysts downgrade the Class A ordinary shares or cease coverage, the market price and trading volume could decline[202]. Customer and Revenue Dependence - The company relies on contracts from recurring customers, and any decrease or loss of business from these customers may adversely affect its financial condition[99]. - For the fiscal years ended September 30, 2023, 2024, and 2025, the company had 351, 352, and 346 recurring customers, representing approximately 79.8%, 81.5%, and 80.7% of the total number of customers, respectively[99]. - Approximately 81.1%, 61.8%, and 84.2% of revenues from security-related engineering services were contributed by recurring customers for the fiscal years ended September 30, 2023, 2024, and 2025[99]. Internal Control and Reporting - The company identified material weaknesses in its internal control over financial reporting, including a lack of accounting staff knowledgeable in U.S. GAAP and SEC requirements[221]. - The company may incur increased costs to comply with existing and new regulations, which could adversely affect its business operations and financial condition[91]. - The company must maintain a minimum shareholders' equity of US$2,500,000 and a minimum of 300 public holders to comply with Nasdaq listing requirements[228]. - If the company fails to meet Nasdaq's continued listing requirements, it risks delisting, which could adversely affect trading and investor confidence[229].

Core Viewpoint - Premarket trading is showing significant activity with notable price movements indicating potential investment opportunities before the market opens [1] Premarket Gainers - Ventyx Biosciences, Inc. (VTYX) increased by 57% to $15.79 [3] - Cardio Diagnostics Holdings, Inc. (CDIO) rose by 36% to $4.02 [3] - Monte Rosa Therapeutics, Inc. (GLUE) saw a 28% increase to $20.54 [3] - Momentus Inc. (MNTS) gained 27% reaching $12.50 [3] - BioAge Labs, Inc. (BIOA) went up by 13% to $17.50 [3] - Neumora Therapeutics, Inc. (NMRA) increased by 11% to $2.03 [3] - Mobileye Global Inc. (MBLY) rose by 10% to $13.45 [3] - Society Pass Incorporated (SOPA) increased by 10% to $3.47 [3] - SU Group Holdings Limited (SUGP) saw an 8% rise to $6.32 [3] - Critical Metals Corp. (CRML) gained 7% reaching $12.73 [3] Premarket Losers - Evolution Metals & Technologies Corp. (EMAT) decreased by 28% to $15.20 [4] - Ascent Solar Technologies, Inc. (ASTI) fell by 12% to $4.65 [4] - Apogee Enterprises, Inc. (APOG) saw a 10% decline to $33.30 [4] - Next Technology Holding Inc. (NXTT) dropped by 8% to $8.49 [4] - AST SpaceMobile, Inc. (ASTS) decreased by 7% to $90.45 [4] - Nomadar Corp. (NOMA) fell by 7% to $3.66 [4] - EZGO Technologies Ltd. (EZGO) decreased by 7% to $1.99 [4] - Cohen & Company Inc. (COHN) saw a 6% decline to $28.30 [4] - PMGC Holdings Inc. (ELAB) dropped by 4% to $5.34 [4] - Anghami Inc. (ANGH) decreased by 3% to $4.49 [4]

As filed with the U.S. Securities and Exchange Commission on December 22, 2025 Registration No. 333-291851 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1 Amendment No. 1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) 7 Floor, The Rays No. 71 Hung To Road, Kwun Tong Kowloon, Hong Kong Telephone: +852 2341-8183 (Address and telephone number, ...

Group 1 - The core point of the article highlights significant stock price increases for several Chinese concept stocks, with notable gains for 富原集团 (TWG) at 266.22% and 有信科技 (YAAS) at 34.78% [1] - 富原集团 (TWG) closed at a price of 22.010, with a total trading volume of 403 million [1] - 有信科技 (YAAS) saw a closing price of 2.170, with a trading volume of 3.6623 million [1] Group 2 - Agencia Comercial Sp (AGCC) experienced a price increase of 27.94%, closing at 12.640, with a trading volume of 2.3292 million [1] - 荣志集团 (SUGP) rose by 27.32%, closing at 7.130, with a trading volume of 25.7957 million [1] - 新世纪储运 (NCEW) increased by 21.60%, closing at 5.010, with a trading volume of 657,100 [1]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - Cemtrex, Inc. (CETX) has increased by 284% to $11.79 - Treasure Global Inc. (TGL) has risen by 135% to $59.83 - Top Wealth Group Holding Limited (TWG) is up 95% at $11.73 - Fulcrum Therapeutics, Inc. (FULC) has gained 49% to $13.29 - MetaVia Inc. (MTVA) is up 33% at $10.90 - Kymera Therapeutics, Inc. (KYMR) has increased by 31% to $87.58 - Confluent, Inc. (CFLT) is up 27% at $29.40 - Immix Biopharma, Inc. (IMMX) has risen by 23% to $6.85 - Nurix Therapeutics, Inc. (NRIX) is up 18% at $21.46 - SU Group Holdings Limited (SUGP) has increased by 15% to $6.44 [3] Premarket Losers - SMX (Security Matters) Public Limited Company (SMX) has decreased by 27% to $242.01 - Meihua International Medical Technologies Co., Ltd. (MHUA) is down 27% at $10.20 - Polyrizon Ltd. (PLRZ) has declined by 16% to $10.90 - Fly-E Group, Inc. (FLYE) is down 16% at $6.90 - Sensei Biotherapeutics, Inc. (SNSE) has decreased by 14% to $8.29 - Kentucky First Federal Bancorp (KFFB) is down 10% at $4.00 - Arteris, Inc. (AIP) has declined by 7% to $16.27 - Fusion Fuel Green PLC (HTOO) is down 6% at $3.89 - Kamada Ltd. (KMDA) has decreased by 5% to $6.69 - iOThree Limited (IOTR) is down 5% at $3.11 [4]

As filed with the U.S. Securities and Exchange Commission on November 28, 2025 Registration No. 333-[●] UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SU Group Holdings Limited (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) Cayman Islands 7381 Not Applicable (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial ...

Core Insights - Chinese concept stocks experienced significant gains, with notable increases in share prices for several companies [1] Group 1: Stock Performance - Haitan Network (HKIT) saw a remarkable increase of 89.5%, closing at 4.150, with a trading volume of 30.9931 million [1] - Kuke Music (KUKEY) rose by 54.46%, reaching a price of 0.3500, with a trading volume of 4.59356 million [1] - Masonglory (MSGY) increased by 53.68%, closing at 1.4600, with a trading volume of 36.3651 million [1] - Rongzhi Group (SUGP) experienced a gain of 29.1%, closing at 7.010, with a trading volume of 570,800 [1] - Meiyantang (MCTA) rose by 24.43%, closing at 27.500, with a trading volume of 4.553 million [1]

Core Viewpoint - Chinese concept stocks experienced significant declines, with several companies facing steep drops in their stock prices. Group 1: Stock Performance - The stock of 幸福来 (PAVS) closed at 0.664, down 35.57%, a decrease of 0.366, with a trading volume of 2.0329 million [1] - Dreamland (TDIC) saw its stock price drop to 0.750, down 25.74%, a decline of 0.260, with a trading volume of 2.3486 million [1] - 好定多 (MAMK) closed at 2.500, down 18.30%, a decrease of 0.560, with a trading volume of 2.5411 million [1] - 能链智电 (NAAS) fell to 3.470, down 15.37%, a decline of 0.630, with a trading volume of 1.047 million [1] - 荣志集团 (SUGP) closed at 8.010, down 15.15%, a decrease of 1.430, with a trading volume of 0.5104 million [1]

Core Insights - Chinese concept stocks experienced significant gains, with the top five performers showing substantial increases in their stock prices, indicating a positive market sentiment towards these companies [1] Group 1: Stock Performance - AMBO (安博教育) saw a remarkable increase of 61.06%, closing at 5.750, with a trading volume of 19.5087 million [1] - SUGP (荣志集团) rose by 54.28%, ending at 10.490, with a trading volume of 21.8466 million [1] - EPWK (一品威客) increased by 52.46%, closing at 0.1148, with a trading volume of 94.206 million [1] - IFU (玖富) experienced a gain of 52.17%, closing at 4.200, with a trading volume of 7.8186 million [1] - BAOS (宝盛) rose by 46.83%, closing at 4.860, with a trading volume of 167 million [1]