Solis Holdings Ltd.

Solis Holdings Ltd.

HHKEX:2227
0.30
HKD
0.00
(0.00%)
133.66MMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.03
0.05
0.05
0.06
0.02
0.02
0.01
0.02
0.01
0.02
0.02
0.02
- -
Basic EPS, GAAP
0.01
0.01
0.01
0.01
- -
-0.01
- -
- -
- -
- -
- -
0.01
- -
Free Cash Flow per Basic Share
0.01
0.02
0.01
-0.01
-0.01
- -
- -
- -
-0.01
-0.01
- -
- -
- -
Dividend per Share
0.01
0.01
0.02
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.02
0.02
0.03
0.06
0.07
0.06
0.06
0.05
0.05
0.05
0.06
0.08
0.08
Tangible Book Value per Share
0.02
0.02
0.03
0.06
0.07
0.06
0.06
0.05
0.05
0.05
0.06
0.08
0.08
Basic Weighted Avg Shares
840
840
840
642
840
840
911
916
916
916
916
916
916
Sales/Revenue/Turnover
22
46
40
38
19
20
7
15
14
19
20
18
- -
Operating Margin (%)
25.87
25.71
34.24
18.3
8.45
-38.65
-46.7
-4.73
-24.95
-22.55
-23.98
14.41
- -
Depreciation Expense
- -
- -
- -
- -
- -
1
1
- -
1
2
1
1
- -
Net Income, GAAP
5
10
12
5
1
-8
-3
-4
-1
- -
1
12
- -
Effective Tax Rate (%)
17.1
16.17
16.44
21.82
50.74
- -
- -
- -
- -
- -
- -
8.33
- -
Profit Margin (%)
21.48
21.68
28.9
14.36
3.87
-38.01
-43.65
-27.34
-6.65
-0.03
4.07
64.58
- -
Working Capital
5
8
9
36
27
17
12
20
15
5
- -
11
11
LT Debt
- -
- -
- -
1
1
- -
- -
- -
6
5
5
5
5
Total Equity
18
21
22
53
56
47
52
49
48
49
52
72
72
Return on Invested Capital (%)
- -
45.85
48.8
13.37
1.4
- -
- -
- -
- -
- -
- -
3.59
- -
Return on Capital (%)
- -
50.09
54.09
14.2
1.36
- -
- -
- -
- -
- -
- -
18.06
- -
Return on Common Equity (%)
- -
50.09
54.44
14.56
1.36
-14.68
-6.29
-7.93
-1.88
-0.01
1.61
19.37
- -

Capital Structure

SGD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
- -
- -
- -
LT Borrowings
5
5
5
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
916
916
916
Market Capitalization
14
15
22

Working Capital

SGD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
17
37
40
Cash, Cash Equivalents & STI
5
29
33
Accounts Receivable, Net
5
2
1
Inventories
- -
- -
1
Total Current Liabilities
16
33
29
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

SGD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.67%
7.69%
39.2%
Free Cash Flow
-71.08%
-104.66%
-155.68%
Net Income, GAAP
-1,370.09%
-2,478.67%
1,372.01%
Sales/Revenue/Turnover
0.69%
26.76%
-7.25%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
19
2024
- -
- -
20
2025
- -
- -
18

Semi-annual Earnings Per Share

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
0.01

Semi-annual Dividends Per Share

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
- -

Company Description

CEO
Swee Cheng Teo
Full Time Employees
252
Sector
Industrial services
Industry
Engineering & construction
Address
85 Tagore Lane Singapore Singapore 787527
IPO Date
Dec 11, 2017
Business
Solis Holdings Limited (2227.HK), an investment holding company, operates as a design-and-build mechanical and electrical engineering contractor in Singapore, specializing in the design, building, and installation of M&E systems for new developments and major additions and alterations works. The company provides electrical-based systems including switchboards, switchgears with circuit breakers, meters, protection devices, cables, and cable boxes; standby generator systems and fuel tanks; cabling systems; circuit wiring for lighting; lighting systems encompassing light fittings, emergency lighting, and building facade lighting; ceiling and wall fans with switches, regulators, and switch devices; power supply systems for CCTV, security access control, and public address systems; telephone cabling systems with cables, conduits, accessories, and equipment; information technology systems including cabling for servers and data outlets; car parking systems with microprocessor-controlled entry and exit points, cash card readers, and data communication; security systems such as contactless card readers, door controlling, and emergency breakglass systems; CATV systems; and lightning protection systems; as well as subcontracted works for air-conditioning systems comprising units, refrigerant pipework, drainage, insulation, and fittings; mechanical ventilation systems including exhaust air fans; and fire protection systems featuring fire alarm panels, heat detectors, fire sprinklers, hosereels, hydrant systems, and clean gas total flooding systems. It serves private residential, mixed residential, commercial developments, and institutional buildings primarily in Singapore. Founded in 1983 and headquartered at 85 Tagore Lane, Singapore 787527, Solis Holdings Limited is a subsidiary of HMK Investment Holdings Limited and was listed on the Main Board of The Stock Exchange of Hong Kong Limited in December 2017. In recent developments, the company has pursued a strategy to diversify its investment portfolio beyond core engineering operations by making multiple discloseable acquisitions of perpetual bonds on the open market, including Bond A issued by STT GDC Pte. Ltd. (5.70% coupon, acquired January 2024 for S$509,093), Bond B issued by ESR-REIT (6.00% coupon, acquired July 2024 for S$505,336), Bond C guaranteed by CK Asset Holdings Limited (3.38% coupon, acquired September 2024 for S$559,688), a bond issued by Wee Hur Holdings Ltd. (acquired November 2025 for S$750,000), a bond issued by SNB Funding (3.40% coupon, acquired December 2025 for S$1,003,000), and additional bonds totaling approximately HK$9.3 million across 2024 transactions, all financed from internal resources to generate stable returns at acceptable risk levels while broadening revenue streams. These investments, each exceeding 5% but below 25% of applicable thresholds under HKEX Listing Rules, prompted announcements addressing initial reporting delays, with remedial actions including enhanced internal reviews and compliance training. For the six months ended 30 June 2025, the group reported revenue growth of 51.8% to S$8.5 million driven by higher construction activities, alongside a profit of S$1.7 million versus a prior-year loss, though gross profit margins contracted amid no interim dividend declaration.