Masonglory is a Hong Kong-based wet trades subcontractor providing plastering, tile laying, brick laying, floor screeding, and marble works. The company serves as a subcontractor for main contractors on residential projects, which accounted for 75% of FY26 revenue, and commercial developments. Customer concentration is high, as the top five customers accounted for 99.3% of FY26 revenue. Masonglory operates on a cost-plus model using lump-sum or fixed unit-price contracts, making cost estimation for labor and materials critical to maintaining margins. While the company procures materials directly, it subcontracts construction labor to third-party firms. Masonglory manages its working capital to pay subcontractors before receiving payment from its own customers to attract quality labor. To grow, Masonglory plans to expand capacity by hiring project management staff and purchasing machinery such as forklifts and plaster sprayers. The company also aims to diversify into public sector projects and establish a formal marketing function to reduce its current reliance on invitations and referrals from a limited group of existing customers.