HONG
KONG, Nov. 19, 2024 /PRNewswire/ -- SU
Group Holdings Limited (Nasdaq: SUGP) ("SU Group" or the
"Company"), an integrated security-related engineering services
company in Hong Kong, today
announced it will sell AI-aided X-ray screeners to one of
Asia's largest airlines. The
premier airline will initially purchase from SU Group 11 AI-aided
X-Ray screeners designed for screening air cargo to identify
dangerous goods and prohibited items. SU Group's proprietary Threat
Stopper adaptable AI-aided X-ray screeners offer a blend of
enhanced security, efficiency, and adaptability that can ultimately
contribute to safer and smoother operations, while providing a
significant advantage in evolving threat landscapes.
SU Group's Chairman and CEO, Dave
Chan, commented, "We are proud to be supporting one of
Asia's largest airlines in this
critical security function, a relationship that we forged together
several years ago. Nothing is more important than security when
focused on instilling confidence in travelers and providing a
smooth experience. In addition, strong safety and security can be a
powerful competitive advantage, as travelers prioritize airlines
with robust security measures. Given rapid advances in technology
and the continued surge in the number of travelers and parcels that
need processing, we expect to see a corresponding increase in
demand over the coming years for AI-aided X-ray screeners. SU Group
is positioned to capitalize on this accelerating trend and expanded
addressable market with a proven AI-aided security solution that
offers airlines a blend of enhanced security, efficiency, and
adaptability that can ultimately contribute to safer and smoother
airport operations."
Airlines are being motivated by numerous factors to invest in
AI-aided X-ray screeners and security solutions for screening air
cargo and luggage, including:
- Increased Detection Accuracy: AI-enhanced systems
can analyze X-ray images with a high degree of precision, allowing
for better detection of prohibited items like weapons, explosives,
or other dangerous materials. Machine learning algorithms can be
trained to recognize even subtle patterns that indicate potentially
dangerous or prohibited items, reducing the chance of human
error.
- Speed and Efficiency: AI-aided systems can analyze
images faster than human screeners, enabling quicker processing
times for luggage and cargo. This helps reduce bottlenecks at
checkpoints, improving overall operational efficiency and allowing
more passengers and cargo to be processed in less time.
- Consistency and Reduced Fatigue: Human screeners
are inherently prone to fatigue and may miss items. AI systems
maintain consistent accuracy, providing reliable performance
throughout the day, while handling large volumes.
- Adaptability to New Threats: AI systems can be
updated and retrained to detect new types of threats as they
emerge, such as new explosive compounds or prohibited items that
might not have been common previously.
- Cost Savings: The improved efficiency and reduced need
for re-screening and manual checks can lead to cost savings over
time. Faster screening means airlines may need fewer personnel to
manage the same volume of luggage, saving on labor costs.
- Enhanced Safety and Customer Trust: By improving
the accuracy and reliability of security checks, airlines enhance
overall safety, which in turn fosters trust among passengers.
- Compliance with Regulatory Requirements: As
governments and aviation authorities place greater emphasis on
security and technological advancement, AI-aided screeners can help
airlines meet regulatory standards, avoiding fines and ensuring
smooth operations.
About SU Group Holdings Limited
SU Group (Nasdaq:
SUGP) is an integrated security-related services company that
primarily provides security-related engineering services, security
guarding and screening services, and related vocational training
services in Hong Kong. Through its
subsidiaries, SU Group has been providing turnkey services to the
existing infrastructure or planned development of its customers
through the design, supply, installation, and maintenance of
security systems for over two decades. The security systems that SU
Group provides services include threat detection systems, traffic
and pedestrian control systems, and extra-low voltage systems in
private and public sectors, including commercial properties, public
facilities, and residential properties in Hong Kong. For more information visit
www.sugroup.com.hk.
Forward-Looking Statements
Certain statements in this
press release are forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on the Company's current expectations
and projections about future events that the Company believes may
affect its financial condition, results of operations, business
strategy and financial needs. Investors can identify these
forward-looking statements by words or phrases such as
"anticipate," "estimate," "plan," "project," "continuing,"
"ongoing," "expect," "we believe," "we intend," "may," "should,"
"will," "could" and similar expressions. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's ability to renew contracts with
recurring customers; the Company's ability to secure new
contracts; the Company's ability to accurately estimate risks
and costs and perform contracts based on the Company's estimates;
the Company's relationship with the Company's suppliers and ability
to manage quality issues of the systems; the Company's ability to
obtain or renew the Company's registrations, licenses, and
certificates; the Company's ability to manage the Company's
subcontractors; the labor costs and the general condition of the
labor market; the Company's ability to compete effectively; the
Company's ability to successfully manage the Company's capacity
expansion and allocation in response to changing industry and
market conditions; implementation of the Company's expansion plans
and the Company's ability to obtain capital resources for planned
growth; the Company's ability to acquire sufficient products and
obtain equipment and services from the Company's suppliers in
suitable quantity and quality; the Company's dependence on key
personnel; the Company's ability to expand into new businesses,
industries, or internationally and to undertake mergers,
acquisitions, investments, or divestments; changes in technology
and competing products; general economic and political conditions,
including those related to the security-related engineering
services industry; possible disruptions in commercial activities
caused by events such as natural disasters, terrorist activities,
political, economic, and social instability, and fluctuations in
foreign currency exchange rates, and assumptions underlying or
related to any of the foregoing and other risks contained in
reports filed by the Company with the Securities and Exchange
Commission (the "SEC"), including the Company's most recently filed
Annual Report on Form 20-F and its subsequent filings. The Company
undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and other
filings with the SEC.
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SOURCE SU Group Holdings Limited