Wing Lee Development Construction Holdings

What Wing Lee Development Construction Holdings does

Wing Lee Development Construction Holdings Limited (榮利營造控股有限公司, stock code 9639.HK) is a Hong Kong-based infrastructure contractor founded in 2005 and listed on the HKEX Main Board in October 2024. The company operates two legacy revenue segments — civil engineering (site formation, earthworks, roads, drainage, structural steelwork) and electrical cable engineering (cable trenching, laying, jointing, and emergency fault repairs) — and is the largest power cabling and civil pipeline installation subcontractor in Hong Kong as of 2023. Civil engineering generated 75.8% of H1 FY2024 revenue (HKD 304 million, +111% YoY), with the Hong Kong International Airport third runway project alone contributing ~HKD 266 million; the electrical cable segment, anchored by a multi-decade relationship with CLP Group, contributed HKD 80.7 million and won an HKD 1 billion 8-year transmission cable contract in October 2024.

The company's third pillar is a new-energy business built around the Zero Carbon Smart Alliance, a May 2025 strategic alliance with SANY Group and CATL. This alliance delivers an integrated "photovoltaics, energy storage, charging, battery swapping, and recycling" offering, supported by subsidiaries Wing Kai New Energy Technologies and Wing Lee New Energy. Product portfolio includes solar PV systems (rooftop and facade-integrated), electrified construction machinery (18 SANY electric models including Hong Kong's first remote-controlled fully electric excavator), CATL-based energy storage, Shenxing ultra-fast charging, 5-minute battery swap stations for electric heavy-duty trucks in port and trunk logistics scenarios, battery recycling with reported >90% core metal recovery, smart parking solutions, and a Smart Site Safety System (4S) for construction-site monitoring. The Zero Carbon Smart Space demonstration park in Yuen Long showcases the integrated stack.

Commercially, Wing Lee runs enterprise field sales targeting Hong Kong government infrastructure, CLP Group, real estate developers (Sun Hung Kai Properties), educational institutions, and logistics companies, combined with channel-partner distribution via China Wealth Hong Kong and SANY ecosystem partners. Revenue is project-based on civil/electrical contracts and hardware-sales-driven on the new-energy side, with contracts in some cases exceeding HKD 150 million for individual projects (e.g., the Tuen Mun Lam Tei Quarry mixing station). The company is expanding geographically via a June 2026 strategic cooperation with C&D Hi-Tech targeting Hong Kong and Southeast Asia battery swap deployments.

Name

Wing Lee Development Construction Holdings

Legal name

Wing Lee Development Construction Holdings Limited (榮利營造控股有限公司)

Website

https://winglee.com.hk

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Wing Lee Development Construction Holdings (9639.HK) is a Hong Kong infrastructure contractor providing civil engineering, electrical cable engineering, and integrated new-energy solutions — including solar PV, battery swap stations, and electric construction machinery — to government, utility (CLP Group), real estate, education, and logistics customers.

Ownership category

akta.pro rank

Product category

Civil Engineering & Infrastructure Construction

NAICS

Heavy and Civil Engineering Construction (237), Electrical Contractors and Other Wiring Installation Contractors (23821), Nonresidential Building Construction (2362)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), Construction - Special Trade Contractors (1700), General Bldg Contractors - Nonresidential Bldgs (1540)

akta.pro primary industry

Renewable Energy Industrial Facilities Construction (Solar, Wind, Storage) (IMAFADAD)

Keywords

• Civil engineering services
• Electrical cable engineering
• Solar photovoltaic systems
• Battery swap stations
• Energy storage solutions

Headquarters

HQ city

Tsuen Wan

HQ country

Hong Kong SAR China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Civil Engineering Projects: Site formation, earthworks, road and drainage construction for large-scale infrastructure projects including Hong Kong International Airport third runway. Major revenue contributor at 75.8% of total revenue.
2. Electrical Cable Engineering: Cable trenching, laying, and jointing services with CLP Group covering Sham Shui Po, Wong Tai Sin, and Tsuen Wan regions. Long-term contracts including HKD 1 billion 8-year transmission cable project.
3. Solar Photovoltaic Systems: Design, supply, installation, and maintenance of solar PV systems for commercial buildings, schools, government facilities, and substations.
4. New Energy Equipment Sales: Sales of electric construction machinery, battery swap stations, energy storage systems, and charging infrastructure to logistics companies and construction firms. Contracts exceeding HKD 150 million signed.
5. Battery Swap Services and Operations: Swap station operations and battery banking services for electric heavy-duty trucks in trunk transportation and port scenarios. Part of the Zero Carbon Smart Alliance ecosystem.
6. Energy Storage Solutions: Commercial, industrial and small-to-medium-sized energy storage system solutions including outdoor liquid-cooled battery cabinets and standard liquid-cooled modules.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Wing Lee is a Hong Kong-based infrastructure contractor operating three business segments: civil engineering (site formation, earthworks, road and drainage works), electrical cable engineering (cable trenching, laying, jointing, emergency fault repairs for utilities), and a new energy business (solar PV systems, electric construction machinery, battery swap stations, energy storage, smart IoT, and smart parking) delivered through the Zero Carbon Smart Alliance co-founded with SANY Group and CATL.

Product overview

Wing Lee Development Construction Holdings operates three core business segments: Civil Engineering (site formation, roads, drainage), Electrical Cable Engineering (power cabling, civil pipeline installation), and New Energy Business. The new energy portfolio centers on the Zero Carbon Smart Alliance platform co-founded with SANY Group and CATL, comprising integrated products including Solar Photovoltaic Systems, Electrified Engineering Machinery, Smart Energy Storage, Shenxing Fast Charging, Battery Swap Stations, Battery Recycling, Smart IoT, and Smart Parking. The company also operates the Zero Carbon Smart Space demonstration center in Yuen Long. These products collectively provide '光、儲、充、換、回收' (photovoltaics, storage, charging, swapping, recycling) full-chain green solutions targeting Hong Kong's construction industry low-carbon transformation.

Differentiator

Problem solved

Functional benefit

Brands

• Zero Carbon Smart Alliance (零碳智能聯盟): Alliance co-founded with SANY Group and CATL to build a full-chain green solution covering 'photovoltaics, energy storage, charging, battery swapping, and recycling'
• Zero-Carbon Smart Space (零碳智能空間)
• Wing Kai New Energy (榮啟新能源)

Products and services

• Civil Engineering Comprehensive civil engineering subcontracting services including site formation, earthworks, excavation, steel structure installation, carriageway construction, and subway/footbridge renovation for government and large-scale public infrastructure projects in Hong Kong.
• Electrical Cable Engineering Power cabling and civil pipeline installation services including cable trenching, laying, jointing, and emergency cable fault repairs for utility companies and government substations across Hong Kong.
• Solar Photovoltaic Systems Design, supply, installation, and maintenance of solar PV systems with rooftop and facade-integrated solutions for commercial buildings, schools, government facilities, and housing estates.
• Electrified Engineering Machinery Sales of SANY pure electric construction machinery and commercial vehicles including remote-controlled electric excavators, 5-axis pure electric dump trucks, and road-legal electric tractors for construction and logistics operators in Hong Kong.
• Smart Energy Storage Commercial, industrial and small-to-medium energy storage system solutions using CATL technology including outdoor liquid-cooled battery cabinets and standard liquid-cooled modules for peak-valley balancing and construction site diesel generator replacement.
• Battery Swap Stations Electric vehicle battery swap station services targeting trunk transportation and port scenarios, with 5-minute automatic battery swap operations for electric heavy-duty trucks and battery banking services.
• Battery Recycling Battery recycling network in Hong Kong leveraging CATL's power battery recycling technology, achieving over 90% recovery rate of core metal materials to build a closed-loop battery material supply chain.
• Smart IoT Solutions Comprehensive smart solutions integrating AI and IoT technologies for smart home, smart healthcare, and smart construction site safety systems.
• Smart Parking Smart multiple-parking private car parking solutions for Hong Kong with automatic fast charging integration to solve parking difficulty and high parking costs.

Quantifiable outcome

• 77% revenue growth to HKD 400 million in H1 FY2024
• +4 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

16 partnerships are on record, tiered core, strategic and minor.

• Times Kirin (時代騏驥)coreStrategic or Co-development Partner · 3 June 2026Partnership for battery swapping solutions. Part of CATL ecosystem. Joint strategic cooperation agreement signed with Wing Kai New Energy and C&D Hi-Tech at SNEC 2026 for Hong Kong and Southeast Asia battery swap station projects.
• CCX Green Finance International Limited (中誠信綠金國際有限公司)strategicImplementation/ SI/ Consulting Partner · 1 May 2026Appointed as independent third-party institution to compile ESG report. One of the earliest green finance service agencies in China since 2016. First Chinese rating agency to obtain HKMA Green and Sustainable Finance Grant Scheme external reviewer qualification in June 2023.
• Xiamen C&D High-Tech Co., Ltd. (廈門建發高科有限公司)strategicStrategic or Co-development Partner · 27 April 2026Subsidiary of Fortune Global 500 C&D Group. Strategic cooperation for Hong Kong and Southeast Asia battery swap station projects. Signed strategic cooperation agreement in June 2026 at SNEC exhibition. C&D Hi-Tech provides global resource allocation while Wing Kai New Energy provides local infrastructure and operational capabilities.
• China Wealth Hong Kong Machine Limited (中富香港機械有限公司)coreStrategic or Co-development Partner · 11 September 2025Subsidiary of Sany Group Hong Kong. Strategic partnership for promoting Sany electric vehicles in Hong Kong market. Jointly participated in ReThink HK 2025 exhibition. Wing Lee uses its local market resources to help deploy Sany electric vehicles across Hong Kong.
• Sany Group (三一集團)coreStrategic or Co-development Partner · 1 May 2025Formed Zero Carbon Smart Alliance together with CATL in May 2025 to build full-chain green solutions covering 'photovoltaics, energy storage, charging, battery swapping, and recycling'. Sany provides electric construction machinery including excavators, trucks, and battery swap stations. Wing Lee serves as the Hong Kong partner for deployment and local operations.
• Contemporary Amperex Technology Co. Limited (CATL/寧德時代)coreStrategic or Co-development Partner · 1 May 2025Strategic partnership for battery supply, battery swapping technology, and energy storage solutions. CATL provides battery technology including outdoor liquid-cooled cabinets, standard liquid-cooled modules, and battery bank operations for swap station network. Wing Lee is an official partner for Hong Kong market deployment.
• Hong Kong Top Talent Services AssociationminorGTM or Marketing PartnerPartnership for talent recruitment exhibitions. Participated in 2026 Spring Hong Kong Top Talent Recruitment Exhibition and 2024 Autumn Fair to attract professional talent in civil engineering, solar PV, and smart site management.
• CLP Group (中電集團)coreStrategic or Co-development PartnerLong-term partnership since 2005 for electrical cable engineering projects. Subcontractor for CLP Group's cable trenching, laying, and emergency repair works in Sham Shui Po, Wong Tai Sin, and Tsuen Wan. Became approved contractor of CLP Group in 2023.
• Sun Hung Kai PropertiesminorStrategic or Co-development PartnerFirst-time cooperation in 2023 providing subcontracting services for site formation works and road and drainage works.
• The Hang Seng University of Hong KongminorStrategic or Co-development PartnerEducation partnership with 'Yiu Wang Lee First-Generation University Student Scholarship' established in 2024. Scholarship supports 6 students per academic year. Vice President leads scholarship recipients for company visits and exchanges.
• Hong Kong Electrical Contractors Association (HKECA)minorGTM or Marketing PartnerIndustry association partnership for Zero-Carbon Smart Space visits. HKECA committee members participated in educational visits with students from Buddhist Tai Kwong Chi Hong College.
• Buddhist Tai Kwong Chi Hong CollegeminorGTM or Marketing PartnerEducation partnership for Zero-Carbon Smart Space campus visits. 32 students and 5 HKECA committee members participated in cross-sector exchange activities showcasing smart construction and electric equipment.
• Hong Kong-China Logistics Association (中港物流協會)strategicStrategic or Co-development PartnerStrategic cooperation framework agreement signed in September 2025 for green logistics industry chain. Partnership connects Sany electric logistics vehicles, Wing Lee charging/swap facilities, and logistics association enterprise resources to promote Hong Kong green transportation industry.
• Ideal Logistics (Hong Kong) Limited (理想物流(香港)有限公司)strategicStrategic or Co-development PartnerProcurement intention agreement signed in September 2025 for electric logistics vehicle applications, charging services, vehicle operations and maintenance, and battery recycling.
• Ligo Transport Services (Asia) Limited (力高運輸服務(亞洲)有限公司)strategicStrategic or Co-development PartnerProcurement intention agreement signed in September 2025 for electric logistics vehicle applications, charging services, vehicle operations and maintenance, and battery recycling.
• De Sheng Holdings Limited (德勝控股股份有限公司)strategicStrategic or Co-development PartnerProcurement intention agreement signed in September 2025 for electric logistics vehicle applications, charging services, vehicle operations and maintenance, and battery recycling.

Scale indicators8 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Gammon Construction Limited: Gammon Construction is a major Hong Kong civil engineering and building contractor (Balfour Beatty and Jardine Matheson joint venture). Directly comparable to Wing Lee for civil engineering, site formation, and infrastructure project delivery in Hong Kong, serving similar government and private sector clients.
• Paul Y. Engineering Group Limited: Paul Y. Engineering is a Hong Kong-listed construction and engineering services company providing civil engineering, electrical and mechanical engineering, and building services. Directly comparable to Wing Lee for Hong Kong-based multi-disciplinary infrastructure contracting serving government and utility clients.
• SOCAM Development Limited: SOCAM Development is a Hong Kong-listed construction and property group with construction, real estate, and infrastructure operations. Comparable to Wing Lee in Hong Kong construction market exposure and infrastructure project focus, with similar scale and public listing status.
• Build King Holdings Limited: Build King Holdings is a Hong Kong-listed construction group specializing in civil engineering, building construction, and electrical/mechanical engineering. Comparable to Wing Lee in business model, Hong Kong government project focus, and civil/electrical engineering services for utilities.

Broad incumbents

• China State Construction Engineering (CSCEC): China State Construction is the world's largest construction company with significant Hong Kong operations through China State Construction Engineering (Hong Kong). Comparable to Wing Lee for large-scale civil engineering and infrastructure projects in Hong Kong, but at a vastly larger scale and broader scope.
• China Communications Construction Company (CCCC): CCCC is one of the world's largest infrastructure construction companies with extensive Hong Kong operations. Comparable to Wing Lee for large-scale civil engineering, road/drainage construction, and airport-related infrastructure projects, though at much larger scale.
• NWS Holdings Limited: NWS Holdings is a Hong Kong-listed infrastructure conglomerate with construction, ports, logistics, and energy operations. Comparable to Wing Lee for infrastructure services in Hong Kong and Greater Bay Area, with strategic interests overlapping in green energy transition and CLP Group-related electricity infrastructure.
• Hip Hing Construction Company Limited: Hip Hing is a major Hong Kong general contractor (NWD Group subsidiary) with extensive civil engineering and building construction capabilities. Comparable to Wing Lee as both are Hong Kong-based infrastructure contractors with overlapping capabilities in site formation, roads, drainage, and large-scale government project delivery.

Others

• CLP Holdings Limited: CLP Holdings is Wing Lee's largest customer and a major Hong Kong utility. Comparable as the primary off-taker of Wing Lee's electrical cable engineering services and a key driver of the HKD 1B 8-year contract. Not a direct competitor but central to Wing Lee's utility infrastructure revenue stream.

Emerging players

• SANY Heavy Industry Co., Ltd. SANY is Wing Lee's strategic partner in the Zero Carbon Smart Alliance and a global leader in construction machinery. Comparable as both are pushing electric construction equipment adoption, but SANY is also the equipment supplier — representing both a partnership and competitive threat if SANY chooses to sell directly into Hong Kong.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/wingleegroup
• LinkedInlinkedin.com/company/wing-lee-group

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wing Lee Development Construction Holdings