Hong Kong, February 20, 2024 – SU Group Holdings Limited (Nasdaq: SUGP) (“SU Group” or the “Company”), an integrated security-related engineering services company in Hong Kong, today announced that one of the world’s top 5 freight services company has selected SU Group for a state-of-the-art threat detection system, with integrated X-ray systems for air cargo inspection to balance security needs with the efficient flow of goods through the transportation network.
Under the agreement, SU Group will supply, install, train and provide maintenance and support for a system threat detection system. The state-of-the-art, integrated security system will include 2 advanced X-ray systems for more rapid, enhanced air cargo inspection. An X-ray system for air cargo inspection is an enhanced security screening technology used to examine the contents of cargo shipments at airports or other transportation hubs. The system utilizes X-ray imaging to create detailed images of the internal structure of the cargo, allowing security personnel to identify any suspicious or prohibited items including weapons, explosives, or other prohibited materials, without physically opening the packages.
SU Group’s Chairman and CEO, Dave Chan, commented, “We are very excited to be working in support of this prominent, global customer. They have built an impressive world-class smart logistics platform and share in our vision for leveraging advanced security systems to increase operational efficiency and to ensure overall security. We expect this system to serve as a notable solution for the broader supply chain and services industry, as more companies seek to add both operational efficiency and an enhanced layer of security to differentiate and better compete. We also expect this latest important win to add to our business , and we are optimistic about the potential for accelerated growth as we move forward.”
Key Features and Components of an X-ray System for Air Cargo Inspection Include:
· X-ray Generator: Produces X-rays that penetrate through the cargo. The energy level of the X-rays is carefully controlled to provide sufficient penetration while minimizing radiation exposure.
· Detector Array: Captures the X-rays that pass through the cargo and converts them into electronic signals. The signals are then used to create detailed images of the contents.
· Computer System: Processes the electronic signals from the detector array and generates high-resolution images of the cargo. Advanced image processing algorithms may be employed to enhance the visibility of objects within the cargo.
· Automated Threat Recognition (ATR): Utilizes computer algorithms to automatically identify potential threats or anomalies within the X-ray images. ATR helps streamline the inspection process and assists operators in quickly identifying items that may require further investigation.
· Operator Console: Allows security personnel to view and analyze the X-ray images in real-time. The operator can manipulate the images, zoom in on specific areas, and apply various image enhancement techniques to improve detection accuracy.
· Conveyor System: Automatically moves the cargo through the inspection process, ensuring a continuous flow of items for screening. Systems can include dual-view capabilities, where the cargo is scanned from two different angles for better detection.
About SU Group Holdings Limited
SU Group (Nasdaq: SUGP) is an integrated security-related services company that primarily provides security-related engineering services, security guarding and screening services, and related vocational training services in Hong Kong. Through its subsidiaries, SU Group has been providing turnkey services to the existing infrastructure or planned development of its customers through the design, supply, installation, and maintenance of security systems for over two decades. The security systems that SU Group provides services include threat detection systems, traffic and pedestrian control systems, and extra-low voltage systems in private and public sectors, including commercial properties, public facilities, and residential properties in Hong Kong. For more information visit www.sugroup.com.hk.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. 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 the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “should,” “will,” “could” and similar expressions. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s ability to renew contracts with recurring customers; the Company’s ability to accurately estimate risks and costs and perform contracts based on the Company’s estimates; the Company’s relationship with the Company’s suppliers and ability to manage quality issues of the systems; the Company’s ability to obtain or renew the Company’s registrations, licenses, and certificates; the Company’s ability to manage the Company’s subcontractors; the labor costs and the general condition of the labor market; the Company’s ability to effectively manage inventories; the Company’s dependence on a small number of suppliers for a substantial portion of the Company’s supplies; implementation of the Company’s expansion plans and the Company’s ability to obtain capital resources for planned growth; the Company’s ability to acquire sufficient products and obtain equipment and services from the Company’s suppliers in suitable quantity and quality; the Company’s dependence on key personnel; the Company’s ability to expand into new businesses, industries, or internationally and to undertake mergers, acquisitions, investments, or divestments; changes in technology and competing products; general economic and political conditions, including those related to the security-related engineering services industry; possible disruptions in commercial activities caused by events such as natural disasters, terrorist activities, political, economic, and social instability, and fluctuations in foreign currency exchange rates, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the “SEC”), including the Company’s most recently filed Annual Report on Form 20-F and its subsequent filings. 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.
Contact:
Global IR Partners
David Pasquale
Phone: +1 914-337-8801
Email: SUGP@globalirpartners.com
SUGP Threat Detection Win PR vFINAL 022024.pdf
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