Ever Glory United Holdings Secures Landmark S\$508 Million in New Contracts, Elevates Order Book to S\$732.8 Million

Key Highlights for Investors

• Record S\$508 million in new contracts secured during 2025, boosting total order book to S\$732.8 million as of 31 December 2025.
• Order book provides revenue visibility through 2027 and beyond, with broad sectoral diversification across Healthcare, Hospitality, and Public Infrastructure.
• Significant milestone: Successful transfer from SGX Catalist to Mainboard on 29 December 2025.
• Strategic acquisitions in 2024 and 2025 enhance M&E engineering capacity and project scale.

Detailed Analysis

Ever Glory United Holdings Limited has achieved a significant milestone in its corporate journey, announcing a remarkable S\$508 million in new contracts won during 2025. This achievement catapults the Group’s order book to an impressive S\$732.8 million as of year-end 2025, setting a robust foundation for future earnings and operational expansion.

Sectoral Diversification and Robust Portfolio

The company’s recent contract wins underscore its strong market leadership and strategic focus on high-growth and resilient industries. Their project portfolio is well-diversified and spans several high-value sectors:

• Critical Infrastructure & Public Works: Major contracts include essential public utility projects, maintenance of street lighting, and upgrades to national transport facilities such as bus depots.
• Healthcare Excellence: Secured headline-grabbing projects in mission-critical healthcare infrastructure, demonstrating deep expertise in technically demanding environments.
• Luxury Hospitality & Mixed Development: Won prestigious awards for luxury hotels, high-profile mixed-use developments, and residential projects, solidifying its presence in the premium segment.

Implications for Shareholders

The scale and quality of new contracts secured in 2025 are indicative of Ever Glory United Holdings’ ability to compete for and win large, complex projects. This has several potential implications for shareholders:

• Earnings Visibility: The current order book provides strong revenue visibility through at least 2027, with progressive financial contributions expected over the next two to three years.
• Long-Term Growth Trajectory: The momentum in contract wins and sector diversification positions the Group for sustainable long-term growth.
• Positive Market Signal: The successful transfer to the SGX Mainboard is a key milestone, reflecting the Group’s maturity and increased profile with institutional investors.
• Strategic M&A Activity: Recent acquisitions, including Fire-Guard Engineering Pte. Ltd. (Feb 2024) and Guthrie Engineering (S) Pte. Ltd. (July 2025), have expanded the Group’s technical capacity, order book, and capability to undertake larger projects.
• Property Development Diversification: Through Ever Capital Pte. Ltd., the Group has made forays into property development, including a freehold residential project and a food factory development, providing additional income streams.

Management Perspective and Outlook

CEO & Executive Director Xu Ruibing commented, “Crossing the half-billion-dollar mark in new contract wins is a powerful endorsement of our technical prowess and our clients’ unwavering confidence in our ability to deliver mission-critical infrastructures. From hospitals to high-end hospitality, we are building the backbone of Singapore.”

Looking ahead, the Group expects the positive momentum to continue, with a robust pipeline of opportunities and a strategic focus on disciplined execution to drive superior value for stakeholders. The company is well-positioned to secure additional significant projects in the coming years.

Investor Takeaway

The combination of record contract wins, a larger order book, sectoral diversification, successful M&A, and mainboard transfer are all potentially price-sensitive developments. These factors may positively influence Ever Glory United Holdings’ share price, reflecting enhanced earnings visibility, growth prospects, and institutional appeal.

Investors are encouraged to monitor the Group’s project execution, future contract wins, and ongoing strategic initiatives as these will be key drivers of future performance and valuation.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with financial advisors before making investment decisions. The author assumes no responsibility for any actions taken based on the information provided herein.

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