USAS Building System (Shanghai) Co., Ltd.

USAS Building System (Shanghai) Co., Ltd.

2671.HK
USAS Building System (Shanghai) Co., Ltd.HK flagHong Kong Stock Exchange
4.05
HKD
- -
- -
488.23MMarket Cap
2022 Y
2023 Y
2024 Y
2025 Y
Revenue per Share
15.78
12.05
12.63
23.88
Basic EPS, GAAP
0.74
0.53
0.62
0.68
Free Cash Flow per Basic Share
-0.33
0.12
-0.42
1.22
Dividend per Share
- -
0.17
0.16
0.29
Book Value per Share
1.9
2.25
2.83
4.1
Tangible Book Value per Share
2.25
3.08
3.75
6.66
Basic Weighted Avg Shares
121
121
121
96
Sales/Revenue/Turnover
1,903
1,453
1,523
2,294
Operating Margin (%)
5.99
5.78
5.06
4.61
Depreciation Expense
17
17
17
16
Net Income, GAAP
89
64
75
66
Effective Tax Rate (%)
21.32
24.68
10.06
15.83
Profit Margin (%)
4.67
4.42
4.9
2.86
Working Capital
144
252
358
561
LT Debt
2
9
4
- -
Total Equity
300
400
472
662
Return on Invested Capital (%)
- -
9.6
9.09
9.13
Return on Capital (%)
- -
13.68
13.27
9.64
Return on Common Equity (%)
- -
25.63
24.38
17.86

Capital Structure

FRC

in mil. unless spec.
No data availableFinancial data will appear here once available

Working Capital

FRC

in mil. unless spec.
No data availableFinancial data will appear here once available

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
40.33%
Free Cash Flow
- -
- -
-329.23%
Net Income, GAAP
- -
- -
-12.05%
Sales/Revenue/Turnover
- -
- -
50.63%
Total Cash Common Dividend
- -
- -
45%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
1,453
2024
- -
- -
- -
- -
1,523
2025
- -
- -
- -
- -
2,294

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.53
2024
- -
- -
- -
- -
0.62
2025
- -
- -
- -
- -
0.68

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.17
2024
- -
- -
- -
- -
0.16
2025
- -
- -
- -
- -
0.29

Company Description

MCPAPIChat
CEO
Lez Hong Zhu
Full Time Employees
686
Sector
Real Estate
Industry
Real Estate - Development
Address
No.208, East Jiangtian Road Songjiang SH People's Republic of China 201613
IPO Date
Dec 28, 2025
Website
usas.com
Business
USAS Building System (Shanghai) Co., Ltd. provides integrated prefabricated steel structure building (PS building) solutions, serving industrial construction markets domestically in the PRC and internationally. The company specializes in PS building subcontracting services, encompassing project design and optimization; procurement; manufacturing and on-site installation; quality assurance; and comprehensive general contracting that covers project lifecycle activities such as implementation, primary structure construction, scheduling, safety, budget management, and quality control for both PS and PC building projects. It operates as a turnkey provider, delivering design-to-build capabilities and EPC-style services across multiple industries. Founded in 1999, USAS is headquartered in Shanghai and maintains a strategic manufacturing footprint in Suzhou, with a production base reported around 100,000 square meters. The business emphasizes a full-spectrum approach to steel-structure systems, combining engineering design, manufacturing excellence, and on-site execution to ensure standardized, high-quality delivery of industrial buildings. In addition to core PS building activities, the company maintains ancillary capabilities in project management, technical consulting, and post-project support to ensure lifecycle performance. Key product and service categories include: PS building subcontracting services—design optimization, procurement, fabrication, and installation; general contracting services—project lifecycle management, primary structure construction, quality and safety oversight, scheduling and budget control; engineering design and optimization—BIM-enabled analysis, value engineering, and constructability reviews; integrated EPC-like services—coordination across design, procurement, fabrication, and construction to deliver turnkey projects; and on-site quality assurance and commissioning. The company also pursues international expansion through overseas project execution and cross-border collaborations, strengthening its global footprint alongside domestic operations. Recent major developments include: formal listing on the Main Board of the Hong Kong Special Administrative Region stock exchange on December 30, 2025, marking the company’s entry into public capital markets and enabling broader investor access; continued strategic emphasis on standardization and modularization of PS building solutions to drive efficiency and scalability; expansion of overseas project activity and partnerships to accelerate international project deployment; and ongoing enhancements to manufacturing capabilities and supply-chain integration to support larger,More complex industrial developments. USAS’ governance and corporate structure reflect a transition to a publicly listed platform while maintaining its focus on core PS building competencies and EPC-style service offerings. Industry and market positioning: operates in the construction and building materials industry with a focus on industrial prefabricated steel structures; targets construction developers, industrial users, and project owners seeking fast, cost-effective, and quality-assured industrial facilities; serves clients across domestic Chinese markets and selected international projects, leveraging a vertical integration model from design to installation. Founding year and headquarters location are disclosed above, with subsidiaries and affiliates aligned to enhance regional manufacturing and project delivery capabilities. The company maintains alignments with international suppliers and adopts digital project management practices to support scalable growth and client-centric delivery.