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Ming Shing Group Holdings Limited
(NASDAQ:MSW)
Ming Shing Group Holdings Limited (MSW) vs. SPDR S&P 500 ETF (SPY)
Ming Shing Group Holdings Limited Business Overview & Revenue Model
Ming Shing Group Holdings Limited Financial Statement Overview
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 33.85M | 27.57M | 21.87M | 14.38M | 6.15M |
| Gross Profit | -1.31M | 5.09M | 3.49M | 2.63M | 1.12M |
| EBITDA | -5.15M | 3.37M | 3.52M | 2.25M | 1.50M |
| Net Income | -5.73M | 2.33M | 2.79M | 1.80M | 1.27M |
Balance Sheet | |||||
| Total Assets | 13.42M | 11.89M | 8.28M | 5.60M | 2.42M |
| Cash, Cash Equivalents and Short-Term Investments | 249.92K | 1.08M | 323.96K | 217.79K | 314.54K |
| Total Debt | 7.74M | 7.03M | 5.62M | 3.15M | 1.21M |
| Total Liabilities | 12.44M | 10.89M | 7.90M | 5.44M | 1.96M |
| Stockholders Equity | 983.98K | 998.26K | 382.89K | 159.76K | 458.31K |
Cash Flow | |||||
| Free Cash Flow | -7.97M | 1.31M | 779.94K | -151.56K | 636.06K |
| Operating Cash Flow | -7.97M | 2.46M | 795.33K | -151.56K | 636.06K |
| Investing Cash Flow | 10.26K | -1.15M | 35.90K | 56.39K | 3.34K |
| Financing Cash Flow | 7.13M | -553.37K | -725.06K | -1.58K | -349.55K |
Ming Shing Group Holdings Limited Technical Analysis
Ming Shing Group Holdings Limited Risk Analysis
Ming Shing Group Holdings Limited Peers Comparison
Ming Shing Group Holdings Limited Corporate Events
Ming Shing Group Holdings Limited said that on February 9, 2026, it signed a series of deeds of termination with counterparties to unwind previously announced cryptocurrency and financing transactions. The move cancels planned purchases of a total of 5,083 Bitcoins from Unit Meta AI Tech Limited and Winning Mission Group Limited, along with related large-scale convertible promissory notes and warrants held by several investment entities.
Under the deeds, all former bitcoin purchase agreements, assignment arrangements, and convertible instruments with these parties become null and void, and each side releases the other from further obligations. The terminations remove potential future equity dilution tied to the cancelled notes and warrants and effectively reverse Ming Shing’s earlier push into sizeable Bitcoin-linked positions, altering its exposure to cryptocurrency-related risks and capital structure plans.
The most recent analyst rating on (MSW) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Ming Shing Group Holdings Limited stock, see the MSW Stock Forecast page.
On January 14, 2026, Ming Shing Group Holdings Limited signed a non-binding letter of intent to acquire the entire issued share capital of StoryFlow Technology Limited, a British Virgin Islands-incorporated company operating in the artificial intelligence sector. StoryFlow develops AI infrastructure and knowledge retrieval and reasoning capabilities, with products such as Viva Flow that integrate into various application scenarios via KaaS, APIs and SDKs, supporting commercialization in AI content and advertising systems, AI creative and material generation, and AI knowledge middleware. The proposed consideration for the deal is US$130 million, subject to due diligence, valuation, compliance checks and definitive terms, and may be settled in cash or other forms to be negotiated. Ming Shing plans to conduct detailed due diligence and commercial negotiations with the vendors and aims to finalize a binding agreement within twelve months, signaling a potential strategic move to deepen its involvement in AI and related digital solutions, which could broaden its technology capabilities and future revenue streams if the transaction proceeds.
The most recent analyst rating on (MSW) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Ming Shing Group Holdings Limited stock, see the MSW Stock Forecast page.
On December 30, 2025, Ming Shing Group Holdings Limited’s audit committee accepted the resignation of SRCO Professional Corporation as the company’s independent registered public accounting firm, ending an engagement that began on April 11, 2025. SRCO’s audit report on the company’s financial statements for the year ended March 31, 2025 contained no adverse or qualified opinions, and the company reported no disagreements or reportable events with the auditor through December 30, 2025, with SRCO subsequently confirming its agreement with these disclosures in a letter to the U.S. Securities and Exchange Commission. The audit committee has started the process of evaluating and appointing a new independent registered public accounting firm, a transition that signals a change in Ming Shing’s external audit relationship but, based on the absence of disputes or negative findings, does not appear to stem from accounting or disclosure concerns, limiting immediate implications for investors’ confidence in the company’s financial reporting.
The most recent analyst rating on (MSW) stock is a Hold with a $0.86 price target. To see the full list of analyst forecasts on Ming Shing Group Holdings Limited stock, see the MSW Stock Forecast page.
On December 3, 2025, Ming Shing Group Holdings Limited announced the resignation of Wai Chun Chik from her roles as an independent director and chairman of the audit committee, citing personal reasons. Subsequently, the company appointed Qiuxian Qiao as the new chairman of the audit committee and Tianhang Zhao as an independent non-executive director. Zhao, with over eight years of business management experience, is expected to enhance the company’s corporate governance and oversight. These changes are seen as strategic moves to strengthen the company’s board and support its mission to lead in the wet trades works industry.
The most recent analyst rating on (MSW) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on Ming Shing Group Holdings Limited stock, see the MSW Stock Forecast page.