Company Description

We, through STG, our operating subsidiary, are a steel reinforcing bars service provider operating one of the six off-site steel reinforcing bar prefabrication yards approved by the Hong Kong Civil Engineering and Development Department (“CEDD”) in Hong Kong. Steel reinforcing bar is a vital component of the construction industry, providing strength to concrete structures such as foundations, buildings and bridges. As a service provider, we are responsible for providing customised cut-and-bend services to our customers at our prefabrication yard. The prefabricated steel reinforcing bars produced by us are ready for immediate use with consistent product quality that would reduce the works on construction sites, yielding better safety and less construction wastage. Our direct customers are mostly the registered general building contractors under the Hong Kong Buildings Ordinance (Chapter 123 of the Laws of Hong Kong, “HKBO”) and subcontractors of various types of building and infrastructure projects in Hong Kong. We principally provide prefabricated steel reinforcing bars for both (i) public sector projects, including infrastructure, public facilities and public residential developments, and (ii) private sector projects, which are mostly private commercial, residential and industrial developments. We are committed to combining innovative technology with traditional reinforcing bar cutting and bending experience to re-industrialize the industry to achieve automation and smart manufacturing. Our effort and commitment are signified by: (i) in 2021, The Hong Kong and Science Park (a public corporation set up by the Hong Kong Government to foster innovation and technology development in Hong Kong) agreeing to lease one of its facilities in the Yuen Long InnoPark as our production base; (ii) in 2022, the Innovation and Technology Commission of the Hong Kong Government agreeing to grant us funding support of $0.5 million from the Re-industrialisation Funding Scheme for the setting up of our smart production line for prefabricating steel reinforcing bar; and (iii) in 2023, our prefabrication yard was admitted by CEDD as one of the six approved offsite steel reinforcing bar prefabrication yards in Hong Kong, representing that the quality of the prefabricated steel reinforcing bars produced by us have met the required standards for public construction work projects and recognized by the Hong Kong government (as a result, our revenue from public sectors increased by 130% from $4.0 million for the fiscal year ended December 31, 2023 to $9.3 million for the fiscal year ended December 31, 2024). Our government-approved steel reinforcing bar prefabrication yard is equipped with advanced automatic cut and bend machines, capable of processing more than 60,000 tonnes per annum of steel reinforcing bar annually and is expected to increase to 90,000 tonnes per annum upon full implementation of our new machineries in the third quarter of 2025. Through the adoption of advance and innovative technology in our production lines, we strive to increase productivity, achieve intelligent and standardised production lines, reduce occupational hazards and minimize human errors and with a view to turning the reinforcing bar industry, which is considered as labour intensive, male-dominated, lower-educated, dangerous with an aging workforce, into a “knowledge-based” industry, attracting talented young people. In May 2022, we obtained ISO9001:2015 and ISO14001:2015 certifications from the Hong Kong Quality Assurance Agency (a non-profit public organisation established by the Hong Kong Government for promoting good management practices to foster the sustainable development of industries and communities in Hong Kong) in respect of our quality management system and environmental management system for storage, handling, fabrication, testing and supply of prefabricated reinforcing bar products. Our commitment to providing quality services has enabled us to undertake a number of large scale construction projects in the public and private sectors including the public housing projects in Yuen Long, Fanling, Tuen Mun and Ngau Tau Kok, Hong Kong, the rebar fixing and drainage works for the Hong Kong Western Harbour Crossing and a number of residential developments in the private sector. --- Our principal executive office is located at 51 & 53, Fu Hi Street, Yuen Long, Hong Kong. Our telephone number is +852 2186 9085. Our registered office in the Cayman Islands is located at the office of Conyers Trust Company (Cayman) Limited at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands. We maintain a website at www.stg-rebar.com.hk. Our agent for service of process in the United States is Cogency Global Inc., located at 122 East 42nd Street, 18th Floor, New York, NY 10168.