WLGS Wang and Lee Group Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of March 2025

 

Commission File Number 001-41681

 

WANG & LEE GROUP, Inc.

(Translation of registrant’s name into English)

 

Mr. Pui Lung Ho, Chief Executive Officer

5-6/F Wing Tai Factory Building,

3 Tai Yip Street,

Kwun Tong,

Kowloon, Hong Kong

Telephone: +852 2889 1313

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

 

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

 

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

 

 

 

Other Information

 

Attached hereto as Exhibit 99.1 and 99.2 is a press release and Exclusive Agreement, dated March 6, 2025, announcing the Company’s award of a US$71 million contract by NQ marble with exclusive rights to pioneer dual-purpose marble quarrying and solar crypto farm operations in Queensland, Australia.

 

Exhibits

 

99.1		Press Release, dated March 6, 2025
99.2		Exclusive Agreement, dated March 6, 2025

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: March 17, 2025	WANG & LEE GROUP, INC.
	By:	/s/ Pui Lung Ho
	Name:	Pui Lung Ho
	Title:	Chief Executive Officer

 

 

Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE

 

Wang & Lee Group Awarded US$71 Million Contract by NQ Marble with Exclusive Rights to Pioneer Dual-Purpose Marble Quarrying and Solar Crypto Farm Operations in Queensland

 

Historic partnership combines sustainable resource extraction with renewable energy innovation, driving growth in Australia’s marble quarrying and green tech sectors

 

Hong Kong – March 06, 2025 – Wang & Lee Group, Inc. (Nasdaq: WLGS), a multinational leader in sustainable infrastructure and resource development, today announced it has been awarded a US$71 million contract by NQ Marble Pty Ltd, a Queensland-based marble quarrying enterprise, to exclusively undertake (i) the exploration and quarrying of natural marble and (ii) the design and implementation of a solar battery crypto farm across multiple sites in Queensland, Australia. A non-refundable deposit of US$1 million has been paid by NQ Marble to WLGS. This groundbreaking initiative will optimize 25.42 km² of land by integrating marble production with renewable energy generation, capitalizing on Queensland’s world-class solar resources and accelerating Australia’s transition to sustainable industrial practices. This pioneering project taps into Australia’s underutilized solar resources, leveraging average annual solar irradiance of 5.5–6.0 kWh/m²/day—exceeding regions like Japan (3.5–4.0 kWh/m²/day) and Germany (2.8–3.2 kWh/m²/day).

 

Synergizing Marble Production and Renewable Energy

 

Under the agreement, WLGS will leverage its expertise to extract high-value marble from NQ Marble’s existing sites while simultaneously developing a state-of-the-art solar battery crypto farm across idle portions of the land. Queensland’s exceptional solar exposure—averaging over 300 days of sunshine annually—positions the region as an ideal hub for renewable energy projects. The solar farm will power cryptocurrency mining operations, with excess energy stored in advanced battery systems to ensure uninterrupted productivity and reduce reliance on fossil fuels.

 

 

Key Benefits of the Dual-Purpose Model:

 

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Maximizing Land Utility: By repurposing idle quarry areas for solar energy, the project avoids leaving vast tracts of land underutilized, generating dual revenue streams from marble sales and crypto mining operations.

 

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Sustainable Growth: The solar crypto farm aligns with Australia’s renewable energy targets, reducing carbon emissions while supporting the booming demand for “green” blockchain technologies.

 

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Economic Value: WLGS will derive revenue from both marble sales and crypto mining, enhancing profitability across the project’s lifecycle.

 

Capitalizing on NQ Marble’s Existing Assets and Market Position

 

NQ Marble has around 141 large natural marble blocks, weighing approximately 2,800 tonnes (priced at AUD800–1,000 per tonne), which are prized for their use in premium architectural projects globally, including Adelaide University’s installations and Jowin Group’s luxury “BIANCO FANIELLO” hotel developments in China. WLGS will expand production to meet surging demand from Australia’s home building sector, which is experiencing record growth driven by urbanization and infrastructure investments.

 

Strategic Collaboration for “Made in Australia” Excellence

 

WLGS and NQ Marble are actively seeking partnerships with marble quarrying experts and industry professionals to optimize site operations and develop premium “Made in Australia” marble products. This collaboration aims to:

 

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Enhance technical expertise in marble extraction, processing, and design.

 

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Expand market share in Asia-Pacific luxury construction markets.

 

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Drive innovation in sustainable quarrying practices.

 

Quotes from Leadership

 

Mr. Ho, CEO of Wang & Lee Group, stated: “This contract represents a transformative step for WLGS, merging traditional resource extraction with cutting-edge renewable technology. Queensland’s solar potential and NQ Marble’s premium assets create a unique opportunity to deliver value to shareholders while advancing global sustainability goals.”

 

 

Mr. Cheng, Managing Director of NQ Marble, added: “Partnering with WLGS allows us to maximize the potential of our sites without compromising on environmental stewardship. The solar crypto farm ensures every hectare contributes to our financial and ecological objectives.”

 

For media inquiries, contact:

 

WANG & LEE GROUP, Inc.

Website: https://www.wangnleegroup.com/

Email: ir@wangleegroup.com

 

This press release contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially.

 

 

NQ Marble’s marble blocks

 

 

 

NQ Marble’s existing sites

 

 

NQ Marble’s luxury construction finished products

 

 

 

NQ Marble’s luxury construction finished products

 

 

Different patterns of marbles

 

 

 

Exhibit 99.2

 

EXCLUSIVE AGREEMENT

 

Between NQ Marble Pty Ltd (ACN 144804053) (“NQ Marble”)

and Wang & Lee Holdings, Inc. (“WLH”)

Effective Date: 6 March 2025

 

1. PARTIES

 

This Contract (“Agreement”) is entered into by:

 

●

NQ Marble Pty Ltd, a company registered under the laws of Australia, with its registered address at Suite 804, 263-265 Castlereagh Street, Sydney NSW 2000 Australia (“Client”).

 

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Wang & Lee Holdings, Inc., a corporation incorporated under the laws of British Virgin Islands, with its principal office at 5/F & 6/F, Wing Tai Factory Building, 3 Tai Yip Street, Kwun Tong, Kowloon, Hong Kong (“Contractor”).

 

2. BACKGROUND

 

A. NQ Marble owns and operates marble quarrying sites in Queensland, Australia, and seeks to integrate renewable energy solutions with its operations.

 

B. WLH possesses expertise in sustainable infrastructure, resource extraction, and renewable energy project implementation.

 

C. The parties intend for WLH to exclusively undertake (i) marble exploration/quarrying and (ii) the design, construction, and operation of a solar battery crypto farm across NQ Marble’s sites.

 

3. SCOPE OF SERVICES

 

WLH shall provide the following exclusive services:

 

3.1 Marble Quarrying Operations

 

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Conduct geological surveys and exploration across NQ Marble’s sites.

 

 

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Extract, process, and transport high-value marble blocks.

 

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Expand production to meet demand from Australia’s home-building sector and international markets.

 

3.2 Solar Battery Crypto Farm Development

 

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Design and install a solar farm across idle quarry land, utilizing Queensland’s solar irradiance (5.5–6.0 kWh/m²/day).

 

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Integrate cryptocurrency mining operations powered by renewable energy.

 

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Deploy battery storage systems to ensure uninterrupted energy supply and reduce fossil fuel reliance.

 

4. EXCLUSIVITY

 

NQ Marble grants WLH exclusive rights to:

 

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Perform all quarrying and solar crypto farm activities on its Queensland sites.

 

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Partner with third-party experts to optimize operations including but not limited to the selection and engagement of relevant professionals, at the sole and absolute discretion of WLH. NQ Marble shall not engage competing contractors for the duration of this Agreement.

 

5. COMPENSATION

 

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Total Contract Value: USD 71,000,000.

 

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Payment Schedule:

 

○

Non-refundable deposit of USD 1,000,000 paid upon signing.

 

○

Remaining balance paid in installments tied to project milestones (e.g., completion of exploration, solar farm commissioning).

 

 

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Net profit (after deduction of all expenses and operating costs) derived from marble sales and crypto mining operations shall be shared as follows: in equal share between the parties.

 

6. PROJECT TIMELINE

 

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Phase 1 (Exploration & Design): Completion within 12 months of Effective Date.

 

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Phase 2 (Quarrying & Solar Farm Construction): Completion within 12 months.

 

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Phase 3 (Ongoing Operations): Continuous management of quarrying and crypto mining activities.

 

7. INTELLECTUAL PROPERTY

 

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WLH retains ownership of proprietary technologies used in solar farm design and crypto operations.

 

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NQ Marble retains ownership of marble resources and associated branding (e.g., “Made in Australia” products).

 

8. CONFIDENTIALITY

 

Both parties agree to keep all technical, financial, and operational information confidential unless required by law.

 

9. TERMINATION

 

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This agreement shall be valid and effective for as long as NQ Marble holds a valid mining license or lease in respect of the quarry.

 

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Either party may terminate for material breach with 30 days’ written notice.

 

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WLH shall receive payment for services rendered up to termination.

 

10. GOVERNING LAW

 

This Agreement is governed by the laws of Queensland, Australia. Disputes shall be resolved through the Courts of Queensland, Australia.

 

Execution page to follow

 

 

IN WITNESS WHEREOF, the parties hereto execute this Agreement as of the Effective Date.

 

NQ Marble Pty Ltd
Name:	Kim Cheng, Managing Director
Date:

 

 

Wang & Lee Holdings, Inc.
Name:	Ho Pui Lung, Director
Date:

 

 

Exhibits:

 

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Exhibit A: Project Sites and Land Specifications (25.42 km²)

 

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Exhibit B: Solar Irradiance and Energy Storage Specifications

 

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Exhibit C: Marble Production and Revenue Targets

 

 

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