Huationg Global - UOB Kay Hian 2026-03-11: Record-high Performance; Re-rating In Sight

• Record-high earnings beat on strong 2H rebound – Huationg Global (SGX:41B)’s 2025 net profit of S$19.8m (+21% y-o-y) beat our expectations by 10%, as 2H25 net profit doubled to S$11.1m on stronger project execution.
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Civil engineering drove record-high revenue.

• 2025 revenue rose to a record S$298.8m (+32% y-o-y), exceeding our expectations by 17% on a sharp 2H25 rebound (+48% h-o-h; +67% y-o-y). Civil engineering contributed 93% of group revenue, more than offsetting the dormitory segment, which ended in Aug 24.
• Huationg continues to actively tender for 6-8 new projects of S$20m- 50m value each, ensuring near-term replenishment.

Around 36% higher dividend backed by strong net cash.

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Re-entry into dormitory operations.

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Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Previous report by UOB:
2026-02-20 Huationg Global - Under-the-radar SGX Leading Infrastructure Contractor.

Price targets by other brokers at Huationg Global Target Prices.

Listing of research reports at Huationg Global Analyst Reports.

Relevant links:
Huationg Global Share Price History,
Huationg Global Announcements,
Huationg Global Dividend Payout Dates & Corporate Actions,
Huationg Global News