Hong Kong, May 6, 2024 – SU Group Holdings Limited (Nasdaq: SUGP) (“SU Group” or the “Company”), an integrated security-related engineering services company in Hong Kong, today announced it has entered a partnership with SquareDog Robotics, Ltd. (“SquareDog Robotics”), a Hong Kong-based technology company specialized in robotic automation. SU Group and SquareDog Robotics plan to mutually develop a fully AI-enabled robotic security patrolling solution and is able to fully or partly replace manual patrolling at offices, buildings, construction sites and other places.
SU Group’s Chairman and CEO, Dave Chan, commented, “Robotics and AI are starting to play a significant role in enhancing security patrolling by providing efficient, reliable, and technologically advanced solutions for monitoring and protecting various environments. We believe we have the opportunity to develop a truly breakthrough industry solution. We plan to architect a combined robotic and AI solution that can optimize patrol efficiency, enhance safety, improve cost efficiency and solve the labor shortage problem, all while providing superior security to our customers and the people they serve. That peace of mind is priceless, with secure buildings being more sought after to work in, live in and to patronize.”
SU Group believes robotics and AI will be increasingly utilized in security patrolling primarily due to added efficiency, reliability, and versatility in the following areas:
· Surveillance: Security robots are equipped with cameras, sensors, and sometimes even drones, allowing them to conduct thorough surveillance of a specific area. They can capture and analyze footage in real time, detecting suspicious activity or unauthorized individuals.
· Patrolling: Robots can autonomously patrol predefined routes or areas, continuously monitoring for any signs of intrusion or anomalies. They can cover large areas efficiently and consistently, reducing the need for human patrols in certain areas.
· Detection of Threats: Security robots can be equipped with various sensors such as motion detectors, heat sensors, and even chemical sensors to detect potential threats like intruders, fires, or hazardous materials. They can alert security personnel immediately upon the detection of such threats.
· Communication: Some security robots are equipped with two-way communication systems, allowing security personnel to remotely communicate with individuals in the patrolled area. This can be useful for issuing warnings or instructions to trespassers or assisting individuals in need.
· Deterrence: The presence of a security robot can act as a deterrent to potential intruders or vandals. Knowing that an area is under surveillance by a robot may discourage potential criminals to conduct criminal activities.
· Data Collection and Analysis: Security robots can collect vast amounts of data about their surroundings, including environmental conditions, pedestrian traffic, and more. This data can be analyzed to identify patterns, trends, and potential security risks.
· Integration with Security Systems: Robots can be integrated with existing security systems, such as access control and alarm systems, providing a comprehensive security solution. They can respond automatically to alarms or breaches by investigating the area and alerting human operators to the extent necessary.
About SquareDog Robotics
SquareDog Robotics envisions a world where industry-leading robotic solutions, providing human perform enhanced work with greater precision and safety. With global shortages of skilled workers, high labor costs and high demand for intelligent and intuitive innovations, SquareDog Robotics’ world-first patented technologies and industry standard-setting expertise pave the way for like-minded companies across all sectors passionate about inventing tomorrow and bettering today. For more information, please visit www.squaredogrobotics.com.
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; 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 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
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