Ming Shing Group
BTC Holdings
833
Total P&L
+30.54%
Total profit/loss on Bitcoin holdings
Average Cost per BTC
$89,250
Average price paid for each Bitcoin
Share Price
$1.51
Current trading price per share
Market Cap
$20M
Total market capitalization
Enterprise Value
$23M
Market cap plus debt minus cash
NAV Multiple
0.202
Net Asset Value multiplier
BTC / Market Cap
495.4%
Bitcoin holdings as % of market cap
About Ming Shing Group
Ming Shing Group Holdings Limited, listed on Nasdaq with the ticker MSW, is a Hong Kong-based company specializing in wet trades works, headquartered in San Po Kong. Founded in 2022, it established itself as a key player in construction services, focusing on plastering, tile laying, brick laying, floor screeding, and marble works. Its business model emphasizes delivering high-quality subcontracting services through its wholly-owned subsidiaries, MS (HK) Engineering Limited and MS Engineering Co. Limited, serving both public and private sectors across residential, commercial, and infrastructure projects.
The company adopts a Bitcoin treasury strategy, holding Bitcoin as a reserve asset to diversify its financial portfolio and hedge against inflation, reflecting a strategic approach to corporate finance. Through its subsidiary, Lead Benefit (HK) Limited, Ming Shing integrates Bitcoin into its balance sheet, viewing it as a liquid asset to support its core wet trades operations. Beyond Bitcoin, the company explores broader digital asset strategies, leveraging blockchain technology to enhance operational efficiencies and explore new financial opportunities, aligning with the evolving digital economy.
Led by CEO Chi Ming Lam and director Wenjin Li, Ming Shing maintains a strong industry presence in Hong Kong’s construction sector, bolstered by its registered subcontractor status and focus on quality standards. Its leadership drives a vision of blending traditional construction with innovative financial strategies, ensuring adaptability. By integrating digital assets and maintaining operational excellence, Ming Shing secures long-term relevance in construction and digital finance.
Recent Developments
- Feb 28, 2025: Bitcoin holdings increased by 333.00 BTC to 833 BTC with cost basis of $74.3M (BTC @ $82K), stock price $4.26
- Jan 13, 2025: Bitcoin holdings increased by 500.00 BTC to 500 BTC with cost basis of $47.2M (BTC @ $93K), stock price $7.19
Ming Shing Group — Bitcoin Holdings Over Time
1y - Present
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Ming Shing Group — Stock vs BTC Dynamics
1y - Present
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Balance Sheet History