<p>【新加坡】在 1 月 23 日至 29 日的五个交易日中，机构净卖出新加坡股票，净流出金额为 6160 万新元，使本月的净流入降至 2.11 亿新元。</p>
<p>在这五个交易日中，净机构流出最多的股票包括 DBS、凯德投资信托、凯德综合商业信托、 Jardine Matheson Holdings、ST 工程、胜科工业、Jardine Cycle &amp; Carriage、Frasers Centrepoint Trust、OCBC 和 Seatrium。</p>
<p>与此同时，UOB、凯德投资、新电信、Wilmar International、iFAST Corporation、CNMC Goldmine Holdings、凯普集团、香港置地、新加坡交易所和 UOBKay Hian Holdings 则引领了净机构流入。</p>
<p>截至 1 月 29 日收盘，OCBC、凯德投资、UOB、香港置地和 UOL 集团引领了净机构流入。</p>
<h2>股票回购</h2>
<p>在这五个交易日中，七家主板上市公司进行了回购，总金额为 360 万新元。这是由于 2 月份有更多公司将公布其 2025 财年的财务报告，导致回购数量季节性减少。</p>
<p>二级上市的 Jardine Matheson Holdings 以平均价格 73.43 美元回购了 841,100 股。香港置地以每股 8.30 美元的平均价格回购了 705,000 股。</p>
<h2>董事交易</h2>
<p>在这五个交易日中，提交了超过 80 份董事权益和重大股权的报告。大约 30 家主板上市公司的董事或首席执行官报告了五项收购和四项处置，而重大股东记录了两项收购和四项处置。</p>
<p>收购由 Duty Free International、HG Metal Manufacturing、JEP Holdings、PSC Corporation 和 Mermaid Maritime Public Company 的首席执行官或董事提交，而处置则由 Acma、Raffles Education 和 Reclaims Global 提交。</p>
<p>在 1 月 27 日，Derek Cheong 将其在 Accrelist 的直接持股增加至超过 5% 的重大股东门槛。他以每股 0.05 新元的价格收购了 205 万股，使其直接持股增至 5.37%。</p>
<p>在 2024 年，Accrelist 收购了 MClean Technologies 28.5% 的股份，该公司是一家在马来西亚 Bursa ACE 板上市的精密清洁和表面处理服务提供商。Cheong 在其最近的年度报告中被列为 MClean Technologies 的股东。</p>
<h2>HG Metal Manufacturing</h2>
<p>在 1 月 27 日，独立非执行主席 Ong Hwee Li 以每股 0.635 新元的价格收购了 100,000 股。这是他自 2023 年 6 月 22 日被任命为董事会成员以来首次在公开市场上的收购。Ong 还是 SAC Capital 的联合创始人和首席执行官。他在首次公开募股、并购（M&amp;A）和顾问交易方面拥有超过 20 年的经验，自 2004 年 7 月以来一直在 SAC Capital 工作。</p>
<p>他还积极参与私营和上市公司的融资和投资。在 2004 年 7 月共同创办 SAC Capital 之前，他曾在多家本地和外国金融机构的投资银行部门工作。</p>
<p>HG Metal Manufacturing 凭借超过 40 年的经验，作为该地区最大的钢铁分销和加工商之一，服务于超过 1,500 个客户，提供涵盖三个业务单元的端到端解决方案。其 2025 财年（截至 9 月 30 日）仅涵盖九个月，此前该集团在 8 月份宣布将其财年结束日期从 12 月 31 日更改，以与其控股股东 Green Esteel 保持一致。</p>
<p>该集团在 2025 财年的九个月内录得收入为 1.303 亿新元，而 2024 财年的 12 个月总收入为 1.579 亿新元。HG Metal Manufacturing 还强调，它在战略转型方面取得了强劲进展，旨在成为一家更精简、更高效和前瞻性的公司，专注于提升增长和长期股东价值。</p>
<p>其优先事项包括通过收购或有机增长，开发和应用钢铁产品以扩大市场份额、销售和盈利能力，同时拓宽产品供应、增强竞争地位、提高生产能力并有效管理成本。</p>
<p>该集团还指出，在 2024 财年完成的股份配售和权利发行净筹集约 3250 万新元，增强了其资产负债表。再加上经营现金流，使公司具备了推动业务转型、扩展核心业务和在机会出现时追求战略投资的财务能力。</p>
<p>其中部分收益用于资助对 Eden Flame 的 B 类优先股的认购。这些优先股可按 1:1 转换为普通股，将使 HG Metal Manufacturing 获得 Eden Flame 扩大后股本的约 4.4%。</p>
<p>Eden Flame 是 Esteel 的全资子公司，正在 Pasir Gudang 开发一座低碳电弧炉钢铁厂，年产能力约为 50 万吨。预计将在 2026 年第三季度开始运营，初期将专注于 10-40 毫米的钢筋，这是东南亚的一个关键需求领域。</p>
<p>该集团强调，这项投资增强了其区域供应链地位，并确保了低碳钢的竞争来源，支持新加坡的气候政策和对更环保建筑材料日益增长的市场需求。</p>
<h2>Skylink</h2>
<p>在 1 月 29 日，Skylink Holdings 宣布计划发行最多 2600 万股新股，每股 0.27 新元，筹集最多 702 万新元的总收益，需获得批准。SAC Capital 被任命为配售代理。</p>
<p>Skylink 是一家新上市的商业车辆租赁和工程解决方案提供商，通过在 2025 年 9 月完成的反向收购而成立。该集团表示，它已经建立了一个可预测的收入和盈利商业模式，得益于其协同生态系统。</p>
<p>净收益中，29.5% 用于电动车项目，70.5% 将用于贷款组合增长或相关的并购。Skylink Holdings 还强调，此次拟议配售所筹集的资金将进一步增强其资产负债表，为其实施增长战略和追求未来新机会提供更大的财务灵活性。</p>
<p>这也紧随该集团在 2025 年 9 月筹集 920 万新元的总收益。自 2025 年 9 月上市以来，该集团已采取多项战略举措推动扩张，首先是在 2025 年 11 月赢得首个工程服务合同。它还在裕廊港路获得了新的租约，使其专业车间面积翻倍，超过 33,000 平方英尺，并显著提高了其工程能力。</p>
<p>在 2025 年 12 月初，该集团收购了 132 辆商用车，增加了即时的经常性收入流，支持额外的工程工作，并有助于优化车队更换周期。</p>
<p>在 2025 年 12 月中旬，该集团通过收购 CLP 2026 的业务及相关资产进一步增强了其工程能力、人才储备和客户基础。该交易创造了成本协同效应，并提高了 Skylink 最近扩建的裕廊港路设施的利用率。</p>
<p>在 2026 财年上半年（截至 9 月 30 日），Skylink 的收入较 2025 财年上半年增长 33.8%，达到 1614 万新元。商业租赁收入增长 52.6%，主要受益于更大的车队和更多的长期合同，而工程收入则因新获得的维护、修理和运营合同增长 11.6%。</p>
<p>在信贷业务方面，收入下降 20.3%；尽管更高的成本使销售成本上升 42.2%，但毛利润仍增长 12.7%，尽管利润率下降至 23.9%。毛利润从 2025 财年上半年增加 12.7%，在 2026 财年上半年达到 386 万新元。</p>
<h2>华通全球</h2>
<p>1 月 26 日，华通全球，一家提供土木工程和基础设施服务的公司，连同辅助内陆物流支持服务，提议以每股 0.60 新元的价格配售最多 710 万新元。此次配售旨在筹集额外的营运资金，以支持人力资源需求和项目执行。</p>
<p>截至 8 月 13 日，华通全球的订单总额约为 5.123 亿新元，包括预计在未来三年内完成的进行中的项目。凭借其全面的施工设备和专业的模块化模板，华通全球参与了新加坡多个大型基础设施建设项目的土木工程工作。</p>
<p>CGS 国际证券是此次配售的代理商。华通全球预计将在 2 月底前公布其 2025 财年业绩。在其 2025 财年上半年（截至 6 月 30 日），其收入为 1.206 亿新元，比 2024 财年上半年微增 1%，主要受益于更高的土木工程合同工作。</p>
<p>净利润为 860 万新元，同比下降 20.4%，主要由于更高的运营费用和外汇损失。该公司在 Catalist 上市，保持 15.7% 的股本回报率，市盈率为 8.2 倍。其市盈率在 2025 年下半年翻倍，股票的平均日成交量也翻倍。</p>
<p><strong>作者是新交所的市场策略师。要阅读新交所的市场研究报告，请访问</strong> <em><strong>sgx.com/research</strong></em></p>

星展集团控股

大华银行

腾飞房地产信托

亚连盛

凯德投资

<p>在 1 月 23 日至 29 日的交易时段内，新加坡的机构净卖出股票，净流出金额为 6160 万新元。流出金额较大的股票包括星展银行和腾飞房地产信托。相反，大华银行和凯德投资则出现了显著的资金流入。七家公司进行了回购，总金额为 360 万新元。报告显示超过 80 笔董事交易，其中 HG 金属制造和亚连盛的董事进行了显著的增持。HG 金属正专注于战略转型，并通过近期的配售和优先股发行增强了其资产负债表</p>

<p>[SINGAPORE] For the five trading sessions spanning Jan 23 to 29, institutions were net sellers of Singapore stocks, with net institutional outflow of S$61.6 million, reducing the net inflow for the month to S$211 million.</p>
<div class="lb-trans"><p>【新加坡】在 1 月 23 日至 29 日的五个交易日中，机构净卖出新加坡股票，净流出金额为 6160 万新元，使本月的净流入降至 2.11 亿新元。</p>
</div><p>Stocks that had the highest net institutional outflow over the five sessions included DBS , CapitaLand Ascendas Reit , CapitaLand Integrated Commercial Trust , Jardine Matheson Holdings , ST Engineering , Sembcorp Industries , Jardine Cycle &amp; Carriage , Frasers Centrepoint Trust , OCBC and Seatrium .</p>
<div class="lb-trans"><p>在这五个交易日中，净机构流出最多的股票包括 DBS、凯德投资信托、凯德综合商业信托、 Jardine Matheson Holdings、ST 工程、胜科工业、Jardine Cycle &amp; Carriage、Frasers Centrepoint Trust、OCBC 和 Seatrium。</p>
</div><p>Meanwhile, UOB , CapitaLand Investment , Singtel , Wilmar International , iFAST Corporation , CNMC Goldmine Holdings , Keppel , Hongkong Land Holdings , Singapore Exchange and UOBKay Hian Holdings led the net institutional inflow.</p>
<div class="lb-trans"><p>与此同时，UOB、凯德投资、新电信、Wilmar International、iFAST Corporation、CNMC Goldmine Holdings、凯普集团、香港置地、新加坡交易所和 UOBKay Hian Holdings 则引领了净机构流入。</p>
</div><p>In the month till the Jan 29 close, OCBC, CapitaLand Investment, UOB, Hongkong Land Holdings and UOL Group have led the net institutional inflow.</p>
<div class="lb-trans"><p>截至 1 月 29 日收盘，OCBC、凯德投资、UOB、香港置地和 UOL 集团引领了净机构流入。</p>
</div><h2>Share buybacks</h2>
<div class="lb-trans"><h2>股票回购</h2>
</div><p>Over the five sessions, seven primary-listed companies conducted buybacks with a total consideration of S$3.6 million. This is a seasonal reduction in buybacks due to the higher number of companies set to report their FY2025 financials in February.</p>
<div class="lb-trans"><p>在这五个交易日中，七家主板上市公司进行了回购，总金额为 360 万新元。这是由于 2 月份有更多公司将公布其 2025 财年的财务报告，导致回购数量季节性减少。</p>
</div><p>Secondary-listed Jardine Matheson Holdings bought back 841,100 shares at an average price of US$73.43. Hongkong Land bought back 705,000 shares at an average price of US$8.30 apiece.</p>
<div class="lb-trans"><p>二级上市的 Jardine Matheson Holdings 以平均价格 73.43 美元回购了 841,100 股。香港置地以每股 8.30 美元的平均价格回购了 705,000 股。</p>
</div><h2>Director transactions</h2>
<div class="lb-trans"><h2>董事交易</h2>
</div><p>Over the five sessions, more than 80 director interests and substantial shareholdings were filed. The directors or CEOs of approximately 30 primary-listed stocks reported five acquisitions and four disposals, while substantial shareholders recorded two acquisitions and four disposals.</p>
<div class="lb-trans"><p>在这五个交易日中，提交了超过 80 份董事权益和重大股权的报告。大约 30 家主板上市公司的董事或首席执行官报告了五项收购和四项处置，而重大股东记录了两项收购和四项处置。</p>
</div><p>Acquisitions were filed by CEOs or directors of Duty Free International , HG Metal Manufacturing , JEP Holdings , PSC Corporation and Mermaid Maritime Public Company , while disposals were filed for Acma , Raffles Education and Reclaims Global .</p>
<div class="lb-trans"><p>收购由 Duty Free International、HG Metal Manufacturing、JEP Holdings、PSC Corporation 和 Mermaid Maritime Public Company 的首席执行官或董事提交，而处置则由 Acma、Raffles Education 和 Reclaims Global 提交。</p>
</div><p>On Jan 27, Derek Cheong increased his direct interest in Accrelist to above the 5 per cent substantial shareholder threshold. He acquired 2.05 million shares at S$0.05 apiece, taking his direct interest to 5.37 per cent.</p>
<div class="lb-trans"><p>在 1 月 27 日，Derek Cheong 将其在 Accrelist 的直接持股增加至超过 5% 的重大股东门槛。他以每股 0.05 新元的价格收购了 205 万股，使其直接持股增至 5.37%。</p>
</div><p>In 2024, Accrelist acquired a 28.5 per cent interest in MClean Technologies, a precision cleaning and surface treatment service provider, listed on the Bursa Malaysia ACE board. Cheong was listed as a shareholder of MClean Technologies in its most recent annual report.</p>
<div class="lb-trans"><p>在 2024 年，Accrelist 收购了 MClean Technologies 28.5% 的股份，该公司是一家在马来西亚 Bursa ACE 板上市的精密清洁和表面处理服务提供商。Cheong 在其最近的年度报告中被列为 MClean Technologies 的股东。</p>
</div><h2>HG Metal Manufacturing</h2>
<div class="lb-trans"><h2>HG Metal Manufacturing</h2>
</div><p>On Jan 27, independent non-executive chairman Ong Hwee Li acquired 100,000 shares at S$0.635 apiece. This was his first acquisition on the open market since his appointment to the board on Jun 22, 2023. Ong is also a co-founder and the CEO of SAC Capital. He has more than 20 years of experiences in initial public offerings, mergers and acquisitions (M&amp;A) and advisory transactions, and has been with SAC Capital since July 2004.</p>
<div class="lb-trans"><p>在 1 月 27 日，独立非执行主席 Ong Hwee Li 以每股 0.635 新元的价格收购了 100,000 股。这是他自 2023 年 6 月 22 日被任命为董事会成员以来首次在公开市场上的收购。Ong 还是 SAC Capital 的联合创始人和首席执行官。他在首次公开募股、并购（M&amp;A）和顾问交易方面拥有超过 20 年的经验，自 2004 年 7 月以来一直在 SAC Capital 工作。</p>
</div><p>He is also active in fundraising and investments for private and listed companies. Prior to co-founding SAC Capital in July 2004, he worked in the investment banking departments of various local and foreign financial institutions.</p>
<div class="lb-trans"><p>他还积极参与私营和上市公司的融资和投资。在 2004 年 7 月共同创办 SAC Capital 之前，他曾在多家本地和外国金融机构的投资银行部门工作。</p>
</div><p>Backed by more than 40 years of experience, HG Metal Manufacturing serves more than 1,500 customers as one of the region’s largest steel distributors and processors, delivering end-to-end solutions across our three business units. Its FY2025 (ended Sep 30) covered only nine months, following the group’s announcement in August to change its FY end from Dec 31 to align with its controlling shareholder, Green Esteel.</p>
<div class="lb-trans"><p>HG Metal Manufacturing 凭借超过 40 年的经验，作为该地区最大的钢铁分销和加工商之一，服务于超过 1,500 个客户，提供涵盖三个业务单元的端到端解决方案。其 2025 财年（截至 9 月 30 日）仅涵盖九个月，此前该集团在 8 月份宣布将其财年结束日期从 12 月 31 日更改，以与其控股股东 Green Esteel 保持一致。</p>
</div><p>The group recorded revenue of S$130.3 million over the nine months of FY2025, compared to S$157.9 million for the full 12-month FY2024. HG Metal Manufacturing has also highlighted that it was making strong progress in its strategic transformation to become a leaner, more efficient and forward-looking company focused on enhancing growth and long-term shareholder value.</p>
<div class="lb-trans"><p>该集团在 2025 财年的九个月内录得收入为 1.303 亿新元，而 2024 财年的 12 个月总收入为 1.579 亿新元。HG Metal Manufacturing 还强调，它在战略转型方面取得了强劲进展，旨在成为一家更精简、更高效和前瞻性的公司，专注于提升增长和长期股东价值。</p>
</div><p>Its priorities include expanding market share, sales and profitability by developing and applying steel products for the built environment locally and overseas, through acquisitions or organic growth, while broadening offerings, strengthening its competitive position, increasing production capacity and managing costs effectively.</p>
<div class="lb-trans"><p>其优先事项包括通过收购或有机增长，开发和应用钢铁产品以扩大市场份额、销售和盈利能力，同时拓宽产品供应、增强竞争地位、提高生产能力并有效管理成本。</p>
</div><p>The group also noted that the share placements and rights issue completed in FY2024, which net raised about S$32.5 million, have strengthened its balance sheet. That, together with operating cash flow, equipped the company with the financial capacity to drive its business transformation, expand core operations and pursue strategic investments as opportunities arise.</p>
<div class="lb-trans"><p>该集团还指出，在 2024 财年完成的股份配售和权利发行净筹集约 3250 万新元，增强了其资产负债表。再加上经营现金流，使公司具备了推动业务转型、扩展核心业务和在机会出现时追求战略投资的财务能力。</p>
</div><p>Some of these proceeds were drawn to fund the subscription for Class B preference shares in Eden Flame. These are convertible 1:1 into ordinary shares, and will give HG Metal Manufacturing about 4.4 per cent of Eden Flame’s enlarged share capital.</p>
<div class="lb-trans"><p>其中部分收益用于资助对 Eden Flame 的 B 类优先股的认购。这些优先股可按 1:1 转换为普通股，将使 HG Metal Manufacturing 获得 Eden Flame 扩大后股本的约 4.4%。</p>
</div><p>Eden Flame, a wholly owned subsidiary of Esteel, is developing a low-carbon electric arc furnace steel plant in Pasir Gudang with an annual capacity of about 500,000 tonnes. It is targeted to start operations in Q3 2026 and will initially focus on 10-40mm rebars, a key demand segment in South-east Asia.</p>
<div class="lb-trans"><p>Eden Flame 是 Esteel 的全资子公司，正在 Pasir Gudang 开发一座低碳电弧炉钢铁厂，年产能力约为 50 万吨。预计将在 2026 年第三季度开始运营，初期将专注于 10-40 毫米的钢筋，这是东南亚的一个关键需求领域。</p>
</div><p>The group highlighted that this investment strengthens its regional supply chain position and secures a competitive source of low-carbon steel, supporting Singapore’s climate policies and rising market demand for greener construction materials.</p>
<div class="lb-trans"><p>该集团强调，这项投资增强了其区域供应链地位，并确保了低碳钢的竞争来源，支持新加坡的气候政策和对更环保建筑材料日益增长的市场需求。</p>
</div><h2>Skylink</h2>
<div class="lb-trans"><h2>Skylink</h2>
</div><p>On Jan 29, Skylink Holdings announced plans to issue up to 26 million new shares at S$0.27 each, raising as much as S$7.02 million in gross proceeds, subject to approvals. SAC Capital was appointed as the placement agent.</p>
<div class="lb-trans"><p>在 1 月 29 日，Skylink Holdings 宣布计划发行最多 2600 万股新股，每股 0.27 新元，筹集最多 702 万新元的总收益，需获得批准。SAC Capital 被任命为配售代理。</p>
</div><p>Skylink is a newly listed commercial vehicle leasing and engineering solutions provider, formed through a reverse takeover completed in September 2025. The group said it has established a predictable revenue and profitable business model supported by its synergistic ecosystem.</p>
<div class="lb-trans"><p>Skylink 是一家新上市的商业车辆租赁和工程解决方案提供商，通过在 2025 年 9 月完成的反向收购而成立。该集团表示，它已经建立了一个可预测的收入和盈利商业模式，得益于其协同生态系统。</p>
</div><p>Of the net proceeds, 29.5 per cent are marked for electric vehicle initiatives, and 70.5 per cent will fund loan book growth or related M&amp;A. Skylink Holdings also highlighted that the capital raised from this proposed placement will further strengthen its balance sheet, providing it with greater financial flexibility as it implements its growth strategies and pursue new opportunities ahead.</p>
<div class="lb-trans"><p>净收益中，29.5% 用于电动车项目，70.5% 将用于贷款组合增长或相关的并购。Skylink Holdings 还强调，此次拟议配售所筹集的资金将进一步增强其资产负债表，为其实施增长战略和追求未来新机会提供更大的财务灵活性。</p>
</div><p>This also follows the group raising S$9.2 million in gross proceeds in September 2025. Since listing in September 2025, the group has undertaken several strategic initiatives to drive expansion, beginning with winning its maiden engineering service contracts from and in November 2025. It also secured new leases at Jurong Port Road that doubled its specialist workshop space to more than 33,000 square feet and significantly increased its engineering capacity.</p>
<div class="lb-trans"><p>这也紧随该集团在 2025 年 9 月筹集 920 万新元的总收益。自 2025 年 9 月上市以来，该集团已采取多项战略举措推动扩张，首先是在 2025 年 11 月赢得首个工程服务合同。它还在裕廊港路获得了新的租约，使其专业车间面积翻倍，超过 33,000 平方英尺，并显著提高了其工程能力。</p>
</div><p>It followed this in early December 2025 with the acquisition of 132 commercial vehicles, adding an immediate recurring revenue stream, supporting additional engineering work, and contributing to optimised fleet-replacement cycles.</p>
<div class="lb-trans"><p>在 2025 年 12 月初，该集团收购了 132 辆商用车，增加了即时的经常性收入流，支持额外的工程工作，并有助于优化车队更换周期。</p>
</div><p>In mid-December 2025, the group further strengthened its engineering capabilities, talent pool and customer base through the acquisition of the business and related assets of CLP 2026. The deal created cost synergies and enhanced the utilisation of Skylink’s recently expanded Jurong Port Road facility.</p>
<div class="lb-trans"><p>在 2025 年 12 月中旬，该集团通过收购 CLP 2026 的业务及相关资产进一步增强了其工程能力、人才储备和客户基础。该交易创造了成本协同效应，并提高了 Skylink 最近扩建的裕廊港路设施的利用率。</p>
</div><p>For its H1 FY2026 (ended Sep 30), Skylink’s revenue rose 33.8 per cent from H1 FY2025 to S$16.14 million. Commercial leasing revenue grew 52.6 per cent, driven by a larger fleet and more long-term contracts, while engineering revenue increased 11.6 per cent on new maintenance, repair and operations contract wins.</p>
<div class="lb-trans"><p>在 2026 财年上半年（截至 9 月 30 日），Skylink 的收入较 2025 财年上半年增长 33.8%，达到 1614 万新元。商业租赁收入增长 52.6%，主要受益于更大的车队和更多的长期合同，而工程收入则因新获得的维护、修理和运营合同增长 11.6%。</p>
</div><p>For the credit business, revenue fell 20.3 per cent; and despite higher costs lifting cost of sales by 42.2 per cent, gross profit still rose 12.7 per cent, though margins declined to 23.9 per cent. Gross profit increased by 12.7 per cent from H1 FY2025 to S$3.86 million in H1 FY2026.</p>
<div class="lb-trans"><p>在信贷业务方面，收入下降 20.3%；尽管更高的成本使销售成本上升 42.2%，但毛利润仍增长 12.7%，尽管利润率下降至 23.9%。毛利润从 2025 财年上半年增加 12.7%，在 2026 财年上半年达到 386 万新元。</p>
</div><h2>Huationg Global</h2>
<div class="lb-trans"><h2>华通全球</h2>
</div><p>On Jan 26, Huationg Global , a civil engineering and infrastructure services provider with ancillary inland logistics support services, proposed a placement of up to S$7.1 million at S$0.60 per share. The placement is intended to raise additional working capital to support manpower requirements and project execution.</p>
<div class="lb-trans"><p>1 月 26 日，华通全球，一家提供土木工程和基础设施服务的公司，连同辅助内陆物流支持服务，提议以每股 0.60 新元的价格配售最多 710 万新元。此次配售旨在筹集额外的营运资金，以支持人力资源需求和项目执行。</p>
</div><p>As at Aug 13, Huationg Global’s order book stood at approximately S$512.3 million, comprising ongoing projects that are expected to be completed over the next three years. With its comprehensive pool of construction equipment and specialist modular formwork, Huationg Global is engaged in civil engineering works for numerous large infrastructural construction projects in Singapore.</p>
<div class="lb-trans"><p>截至 8 月 13 日，华通全球的订单总额约为 5.123 亿新元，包括预计在未来三年内完成的进行中的项目。凭借其全面的施工设备和专业的模块化模板，华通全球参与了新加坡多个大型基础设施建设项目的土木工程工作。</p>
</div><p>CGS International Securities is the placement agent. Huationg Global is also expected to report its FY2025 results by the end of February. In its H1 FY2025 (ended Jun 30), it reported revenue of S$120.6 million, a marginal 1 per cent increase from H1 FY2024, driven mainly by higher civil engineering contract work.</p>
<div class="lb-trans"><p>CGS 国际证券是此次配售的代理商。华通全球预计将在 2 月底前公布其 2025 财年业绩。在其 2025 财年上半年（截至 6 月 30 日），其收入为 1.206 亿新元，比 2024 财年上半年微增 1%，主要受益于更高的土木工程合同工作。</p>
</div><p>Net profit came in at S$8.6 million, down 20.4 per cent year on year, primarily due to higher operating expenses and foreign exchange losses. Listed on Catalist, the stock maintains a return on equity of 15.7 per cent, and a price to earnings (P/E) ratio of 8.2 times. Its P/E ratio doubled in H2 2025, as did the stock’s average daily turnover.</p>
<div class="lb-trans"><p>净利润为 860 万新元，同比下降 20.4%，主要由于更高的运营费用和外汇损失。该公司在 Catalist 上市，保持 15.7% 的股本回报率，市盈率为 8.2 倍。其市盈率在 2025 年下半年翻倍，股票的平均日成交量也翻倍。</p>
</div><p><strong>The writer is the market strategist at SGX. To read SGX’s market research reports, visit</strong> <em><strong>sgx.com/research</strong></em></p>
<div class="lb-trans"><p><strong>作者是新交所的市场策略师。要阅读新交所的市场研究报告，请访问</strong> <em><strong>sgx.com/research</strong></em></p>
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由于新的股票配售进入市场，机构转为净卖家