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WANG & LEE Group (NASDAQ:WLGS) Bolsa, Cadena de Opciones

WANG & LEE Group

WANG & LEE Group Inc operates as an investment holding company. The firm conducts its primary operations through its indirectly wholly owned subsidiary WANG and LEE CONTRACTING LIMITED. WLHK provides contract engineering, installation, and out-fitting of the following products and services: low voltage electrical systems, mechanical ventilation and air-conditioning systems (MVAC), fire safety systems, water supply and sewage disposal systems, and site project management.

WANG & LEE Group Inc

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/01022633/e1ffbd88785f4d079fba326e8a2f359c_noop-900x600-1.png" alt="" class="wp-image-16773" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/01022633/e1ffbd88785f4d079fba326e8a2f359c_noop-900x600-1.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/01022633/e1ffbd88785f4d079fba326e8a2f359c_noop-900x600-1-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/01022633/e1ffbd88785f4d079fba326e8a2f359c_noop-900x600-1-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
The operator of massage chairs in public spaces is making a renewed pitch to investors amid a lingering controversy about its business data

<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul class="wp-block-list">
<li>The firm deploys massage chairs in malls and transport hubs but more than 80% of its machines are located in cinemas, with lower usage rates</li>
<li>A recent report in a state-run securities journal cast doubt on the number of its massage chairs in operation</li>
</ul>
They have become a familiar sight in China's crowded shopping malls and transport hubs: rows of bulky mechanized chairs offering an affordable, automated massage for the weary shopper or commuter.
Users may welcome the opportunity for some stress relief, while others complain the machines are invading public spaces and are even replacing standard seats in cinemas. But what can the massage chairs offer investors?
A leading provider of massage chairs at commercial locations, operating under the Lemobar brand, wants to give equity investors an opportunity to buy into its business by listing its shares on the Hong Kong stock market.
The company,&nbsp;Fujian Lemo IoT Technology Co. Ltd., is making a second IPO attempt after an initial filing in January lapsed. This time, however, the firm may have to override doubts that have emerged about the scale and sustainability of its business.
In the&nbsp;<a href="https://www1.hkexnews.hk/app/sehk/2025/107573/documents/sehk25072501604.pdf">filing</a>&nbsp;to the Hong Kong Stock Exchange,Lemodescribed itself as China's leading provider of automated massage services with more than 535,000 mechanized chairs deployed across the country, administered directly by the company or through local partners.
Although commercially operated chairs have visibly proliferated, they still make up a fraction of China's overall market for massage services, which remains dominated by hands-on therapists.
A study cited in the prospectus found that mechanized massage was worth&nbsp; 2.7 billion yuan ($376.1 million) in China last year, representing just 0.5% of an overall market valued at 536.2 billion yuan. However, the automated niche is highly concentrated among a handful of providers, giving Lemo a market share of nearly 43% last year, according to the IPO paperwork.
From a base in the city of Fuzhou in Fujian province, the company started out in 2014 and launched its Lemobar brand two years later, with a mission to provide convenient massage services in bustling locations such as cinemas, airports, inter-city rail terminals and other traffic hubs.
The IPO documents said Lemo's services were available at more than 48,000 locations by July 18 this year, with more than 535,000 massage chairs across 31 provincial-level administrative divisions and 339 cities across China. The company said it had achieved a cumulative total of more than 165 million identifiable service consumers and more than 32 million registered members.
Lemo relies on directly operated equipment for most of its income. Some 71% of service locations fall under the direct business model, with just 29% run by partners, who pay fees for use of the machines and are responsible for day-to-day operations.
Revenues grew rapidly from 2022 to 2024, rising from 330 million yuan in 2022 to 798 million yuan in 2024 for a compound annual growth rate of over 50%. However, the pace of revenue growth slowed to 35.9% last year from 77.8% in 2023 and decelerated to just 18.4% in the first quarter.
The direct channel generated more than 83% of Lemo's total revenue last year, while partnership operations accounted for around 14%. Aggregated gross profit margin fell from 41.8% in 2023 to 36.1% in 2024, with the direct services margin of 29.87% coming in much lower than partner services at 73%.
<h4 class="wp-block-heading">Uncomfortable questions</h4>
Lemo logged a tiny net profit of 6.48 million yuan in 2022 but turnover leapt to 87.34 million yuan the following year as the economy reopened after the pandemic. Net profit slipped 1.7% last year to 85.81 million yuan, although the adjusted net profit figure rose to 102 million yuan from 94.57 million yuan in 2023. In the first quarter of this year, net profit declined by 11% year-on-year to 23.338 million yuan.
As for business reach, the company said its presence extended to 69% of major Chinese shopping malls with a footprint above 30,000 square meters, 55% of Chinese cinemas with box office income above 5 million yuan, and 58% of Chinese airports with annual passenger figures above the 10 million mark.
However, these topline figures do not give the full picture. The 432,000 cinema-based machines, located in waiting or viewing areas, make up more thn 80% of the total. Those chairs are used only 0.07 times a day on average, compared with 2.8 times for devices in commercial complexes, defined as leisure and shopping venues with high foot traffic, and 3 times for airports.&nbsp;
Earnings per machine were just 168 yuan for cinemas in the first quarter,&nbsp; a fraction of the 1,692 yuan from machines located in commercial complexes, where around 14% of Lemo's devices are to be found.
Meanwhile, usage rates are falling. The average daily transactions per machine fell from 2.04 times last year to 1.92 times in the first quarter of this year while the average charge ticked up from 14.69 yuan to 14.74 yuan.
The proportion of partner-operated devices fell during the same period to 8.1%, from 23% in 2022, increasing the company's reliance on the lower-margin business of directly operated services.
<h4 class="wp-block-heading">Data credibility</h4>
Besides, questions have been raised about the tally of machines in use. An investigation by the state-run China Securities&nbsp;Journal,&nbsp;published in July this year, found discrepancies between advertised numbers and the volume of verifiable machines. For example, of around 32,000 chairs in the "Energy Egg" series only 531 could be verified, 1.6% of the stated total. And procurement data indicated that the top five suppliers had been paid only 153 million yuan, enough to cover 61,100 devices at the industry's lowest price point, equivalent to around 11% of the published total of 535,000. &nbsp;
Lemo has not directly responded to the journal's report and made no mention of the controversy in its IPO paperwork.
Questions have also been raised about an ownership shuffle in the run-up to the IPO. Currently, Xie Zhonghui is listed as the controlling shareholder after founder Wu Jinghua reduced his stake from 60% in 2016 to 15.16% just before the IPO application, stoking speculation about a proxy relationship.
Wu is now chairman of Fujian Honor Fitness Equipment, a supplier of Lemo's massage chairs.
However, the most pressing issue right now is funding. By the end of March, the company's cash on hand was a mere 26.21 million yuan, while short-term loans reached 45 million yuan, raising the risk of a cash crunch.
The proceeds of the IPO, if successful, were said to be earmarked for expanding to new locations in China and establishing a foothold in the Southeast Asian market. But Lemo may still have some questions to answer before persuading investors to buy into its proposition.

Asia

IPOs

Global

Opinion

IPO Applicant Lemo Faces Cash Squeeze And Credibility Questions

Chardan Capital analyst Rudy Li maintains Mind Medicine (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNMD#NASDAQ">MNMD</a>) with a Buy and maintains $20 price target.

News

Price Target

Analyst Ratings

MNMD

Chardan Capital Maintains Buy on Mind Medicine, Maintains $20 Price Target

Guidance

MRNA

Moderna Narrows FY2025 Sales Guidance from $1.500B-$2.500B to $1.500B-$2.200B vs $2.093B Est

CBOE

CBOE Sees 2025 Adj Operating Expenses $837M-$852M Vs $832M-$847M Prior

Piper Sandler analyst Thomas Champion maintains Reddit (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) with a Overweight and raises the price target from $150 to $210.

RDDT

Piper Sandler Maintains Overweight on Reddit, Raises Price Target to $210

Curtiss-Wright Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CW#NYSE">CW</a>) today announced that its UK-based Curtiss-Wright Nuclear business (formerly Ultra Energy) signed a multi-million dollar strategic partnership with Rolls-Royce SMR to deliver critical safety systems for its Small Modular Reactor (SMR) technology. Under the contract, Curtiss-Wright will provide design, qualification, testing and supply of the non-programmable diverse Reactor Protection Systems for a global fleet of Rolls-Royce SMRs.
Work under this agreement, including the design and implementation of Curtiss-Wright's Reactor Protection Systems, will be performed by Curtiss-Wright Nuclear's facility in Dorset, UK, supporting regional economic growth, as well as expanding the UK's nuclear skills, opportunities and capabilities.

Curtiss-Wright Nuclear Business Signs Multi-Million Dollar Strategic Partnership With Rolls-Royce SMR To Deliver Critical Safety Systems For Its Small Modular Reactor Technology

NeuroPace, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NPCE#NASDAQ">NPCE</a>), a medical technology company focused on transforming the lives of people living with epilepsy, today issued the following statement in response to the Centers for Medicare &amp; Medicaid Services (CMS) electing not to finalize its proposed reassignment of epilepsy with neurostimulator cases in the FY 2026 Inpatient Prospective Payment System (IPPS) rule.
"We appreciate CMS' openness to public comment on the proposed rule and its reconsideration of the original proposal to reassign RNS cases to MS-DRG 020-022. We commend CMS' decision to maintain the current MS-DRG assignment for RNS&#xAE; System procedures under MS-DRG 023," said Joel Becker, Chief Executive Officer of NeuroPace. "This maintains continuity for hospitals providing the RNS System to Medicare beneficiaries, who represent a vulnerable and underserved epilepsy population."
NeuroPace will continue to work with CMS on MS-DRG improvements and other reimbursement related topics. The company remains committed to ensuring that reimbursement policy keeps pace with clinical innovation and that access to the RNS System is available for all who may benefit.

NPCE

NeuroPace Applauds CMS Decision to Maintain Reimbursement for RNS System in FY 2026 Rule

Piper Sandler analyst Thomas Champion maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Overweight and raises the price target from $250 to $255.

AMZN

Piper Sandler Maintains Overweight on Amazon.com, Raises Price Target to $255

Jefferies analyst Omar Nokta maintains Matson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MATX#NYSE">MATX</a>) with a Hold and maintains $115 price target.

MATX

Jefferies Maintains Hold on Matson, Maintains $115 Price Target

USPH

U.S. Physical Therapy Acquires 60% In A A Physical Therapy Practice With Three Clinics And $5.3M In Annual Revenues

Guidance
The company affirms its full-year 2025 operating earnings guidance range of $3.28 to $3.52 per share and all financial guidance provided on its fourth quarter 2024 earnings call, including guidance related to earnings, credit, and dividend.

Dominion Energy Affirms FY2025 Adj EPS Guidance of $3.28-$3.52 vs $3.39 Est

Cboe Global Markets (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>) reported quarterly earnings of $2.23 per share which missed the analyst consensus estimate of $2.42 by 7.89 percent. This is a 3.72 percent increase over earnings of $2.15 per share from the same period last year. The company reported quarterly sales of $587.30 million which beat the analyst consensus estimate of $574.03 million by 2.31 percent. This is a 14.31 percent increase over sales of $513.80 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Cboe Global Markets Q2 Adj. EPS $2.23 Misses $2.42 Estimate, Sales $587.30M Beat $574.03M Estimate

Dominion Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) reported quarterly earnings of $0.75 per share which beat the analyst consensus estimate of $0.72 by 3.88 percent. This is a 15.38 percent increase over earnings of $0.65 per share from the same period last year. The company reported quarterly sales of $3.810 billion which missed the analyst consensus estimate of $3.860 billion by 1.30 percent. This is a 9.29 percent increase over sales of $3.486 billion the same period last year.

Dominion Energy Q2 Adj. EPS $0.75 Beats $0.72 Estimate, Sales $3.810B Miss $3.860B Estimate

ACFN

Acorn Energy Halted On Code News Pending

Moderna Sees 2025 GAAP Operating Expenses $5.9B-$6.1B

Canaccord Genuity analyst Joseph Vafi maintains Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) with a Buy and maintains $400 price target.

COIN

Canaccord Genuity Maintains Buy on Coinbase Global, Maintains $400 Price Target

Chardan Capital analyst Keay Nakae maintains Alnylam Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>) with a Buy and raises the price target from $325 to $400.

ALNY

Chardan Capital Maintains Buy on Alnylam Pharmaceuticals, Raises Price Target to $400

FIG: 28% &#x7C; <a href="https://www.benzinga.com/node/46788537">Figma shares are trading higher on momentum following Thursday's IPO.</a>
&nbsp;
COIN: -11% &#x7C; <a href="https://www.benzinga.com/node/46788216">Coinbase shares are trading lower after the company reported worse-than-expected Q2 adjusted EPS and sales.</a>
&nbsp;
FDMT: 57% &#x7C; <a href="https://www.benzinga.com/node/46775309">4DMT Presents Results Of 4D-150 SPECTRA Clinical Trial In DME And Regulatory Update</a>

Movers

Trading Ideas

FDMT

Market-Moving News for August 1st

ARES

Ares Management Closes $8.8B In Q2 2025 U.S. Direct Lending Commitments, $46.5B Over Past Year Across 328 Deals

WestPark Capital analyst Curtis Shauger reiterates Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Buy and maintains $280 price target.

Reiteration

WestPark Capital Reiterates Buy on Amazon.com, Maintains $280 Price Target

Press Releases

WANG & LEE GROUP, INC., LINKO, AND HK GOLDEN, INC. LAUNCH STRATEGIC ALLIANCE TO REVOLUTIONIZE MEDIA MONETIZATION IN SUSTAINABLE SMART HOMES

Wang & Lee Group Announces Pricing of $12.0 Million Registered Direct Offering

Wang and Lee Group CEO and NQ Marble Director to Conduct Onsite Quarry Inspection in Australia, Eyeing Dual Revenue Streams and ESG Leadership

WANG & LEE GROUP ANNOUNCES SUCCESSFUL COMPLETION OF HONG KONG'S FIRST LOCALLY DEVELOPED SMART FLOORING PROJECT, TRANSFORMING STEPS INTO CLEAN ENERGY

WANG AND LEE GROUP, INC. ANNOUNCES STRATEGIC INVESTMENT IN TROOPS, INC. TO DRIVE INNOVATION IN SMART BUILDING SOLUTIONS AND EXPAND ESG TOKEN REWARD ECOSYSTEM

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