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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

☐REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934.

OR

For the fiscal year ended March 31, 2026

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________________ to ____________________

OR

☐SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 001-42418

Ming Shing Group Holdings Limited

(Exact name of Registrant as specified in its charter)

Cayman Islands

(Jurisdiction of incorporation or organization)

Ming Shing Group Holdings Limited Office Unit B8, 27/F NCB Innovation Centre No. 888 Lai Chi Kok Road Kowloon, Hong Kong, 00000

(Address of principal executive offices) Zhijun Pan Ming Shing Group Holdings Limited Office Unit B8, 27/F NCB Innovation Centre No. 888 Lai Chi Kok Road Kowloon, Hong Kong, 00000 +852 2370 3788

(Name, Telephone, E-Mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each classTrading symbol(s)Name of each exchange on which registered
Class A Ordinary shares, par value $0.0005 per sharePMAThe Nasdaq Stock Market LLC

Securities registered or to be registered pursuant to Section 12(g) of the Act:

None

(Title of Class)

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:

None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of March 31, 2026:12,975,000 ordinary shares. (As of the date of this annual report: 12,975,000 ordinary shares, consisting of 6,975,000 Class A Ordinary Shares and 6,000,000 Class B Ordinary Shares)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes ☐No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See the definition of “accelerated filer” and “large accelerated filer” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐Accelerated filer ☐Non-accelerated filer ☒
Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards†provided pursuant to Section 13(a) of the Exchange Act.☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP ☒International Financial Reporting Standards as issued By the International Accounting Standards Board ☐Other ☐

If “Other” has been checked in response to previous question, indicate by check mark which financial statement item the registrant has elected to follow. Item 17 ☐ Item 18 ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒

TABLE OF CONTENTS

Page
EXCHANGE RATE INFORMATION1
FORWARD-LOOKING STATEMENTS1
COMMONLY USED DEFINED TERMS2
INTRODUCTION3
PART I4
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS4
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE4
ITEM 3. KEY INFORMATION4
A.[Reserved]14
B.Capitalization and Indebtedness14
C.Reasons for the Offer and Use of Proceeds14
D.Risk Factors14
ITEM 4. INFORMATION ON THE COMPANY43
A.History and Development of the Company43
B.Business Overview51
C.Organizational Structure73
D.Property, Plants and Equipment73
ITEM 4A. UNRESOLVED STAFF COMMENTS73
ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS73
A.Operating Results73
B.Liquidity and Capital Resources86
C.Research and Development, Patents and Licenses, etc.89
D.Trend Information89
E.Critical Accounting Policies and Estimates89
ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES90
A.Directors and Senior Management90
B.Compensation92
C.Board Practices95
D.Employees98
E.Share Ownership98
F.Disclosure of a registrant’s action to recover erroneously awarded compensation99
ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS99
A.Major Shareholders99
B.Related Party Transactions99
C.Interests of Experts and Counsel99
ITEM 8. FINANCIAL INFORMATION99
A.Consolidated Statements and Other Financial Information99
B.Significant Changes100
ITEM 9. THE OFFER AND LISTING100
A.Offer and Listing Details100
B.Plan of Distribution100
C.Markets101
D.Selling Shareholders101
E.Dilution101

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F.Expenses of the Issue101
ITEM 10. ADDITIONAL INFORMATION101
A.Share Capital101
B.Memorandum and Articles of Association101
C.Material Contracts106
D.Exchange Controls111
E.Taxation111
F.Dividends and Paying Agents118
G.Statement by Experts118
H.Documents on Display118
I.Subsidiary Information119
ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK119
ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES120
PART II121
ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES121
ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS121
ITEM 15. CONTROLS AND PROCEDURES121
ITEM 16. [RESERVED]122
ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT122
ITEM 16B. CODE OF ETHICS122
ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES122
ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES123
ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS123
ITEM 16F. CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT123
ITEM 16G. CORPORATE GOVERNANCE123
ITEM 16H. MINE SAFETY DISCLOSURE124
ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS124
ITEM 16J. INSIDER TRADING POLICIES124
Item 16K. CYBERSECURITY124
PART III125
ITEM 17. FINANCIAL STATEMENTS125
ITEM 18. FINANCIAL STATEMENTS125
ITEM 19. EXHIBITS125
CONSOLIDATED BALANCE SHEETS · F-5
CONSOLIDATED STATEMENTS OF OPERATIONS · F-6
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY · F-7
CONSOLIDATED STATEMENTS OF CASH FLOWS · F-8
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS · F-9

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.