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OneConstruction Group Limited
(NASDAQ: ONEG)

NEW YORK, Aug. 12, 2025 /PRNewswire/ -- OneConstruction Group Limited, a Cayman Islands exempted company with limited liability that, through its operating subsidiary, OneConstruction Engineering Projects Limited, a company incorporated under the laws of Hong听Kong with limited liability, operates as a structural听steelwork contractor for construction projects in both the public and private sectors听in Hong Kong ("OneConstruction Group","ONEG" or the听"Company"), today announced its audited financial results for the fiscal year ended March 31, 2025.

Financial Highlights

• Revenue: Revenue for the year ended March 31, 2025 ("FY2025") decreased by 16.2% to $53.2 million, compared to $63.5 million听for the fiscal year ended March 31, 2024 ("FY2024"). The decline was attributed to a 14.1% reduction in revenue from the public sector and a decrease of 27.3% in revenue from the private sector. Despite the decrease in total revenue, revenue derived from residential construction projects in the public sector increased by 23.1% from $32.2 million in FY2024 to $39.7 million in FY2025.
• Gross Profit: Gross profit for FY2025 was $3.9 million, a decrease of 11.9% compared to $4.4 million in FY2024. However, gross profit margin increased by 0.4听percentage points to 7.4%, compared to 7.0% in FY2024. The increase in gross profit margin was attributable to the award of听construction projects in the public sector that provided higher profit margins.
• Net Income: Profit after tax for FY2025 decreased to $0.9 million, compared to $1.8 million in FY2024. This reduction was mainly due听to a decrease of $0.5 million in profit from operations, an increase of $0.23 million in finance costs and an increase of $0.1 million in income tax expenses during FY2025.
• Cash Flow: The net decrease in cash and cash equivalents of $0.8 million for FY2025 was mainly attributable to the cash outflow of $5.1 million in operating activities and the cash inflow from financing activities of $4.3 million.
• Cash Position: As of March 31, 2025, the consolidated cash balance decreased to $0.7 million, compared to $1.6 million as of March 31,听2024. This decrease was primarily driven by the cash used in operating activities.
• Administration Expenses: Administration expenses were $2.2 million for FY2025, representing an increase of 153.9% from $0.9 million in听FY2024. The increase was attributable to legal and professional fees and other administrative expenses incurred for the initial public offering conducted in FY2025.

Operational Highlights

• A Top Hong Kong Steelwork Service Provider:
  鈦� ONEG is one of the top service providers in the Hong Kong structural steelwork industry with an established reputation and proven track record.
• Custom Steelwork Solutions:
  鈦� ONEG offers tailored solutions in structural steelwork service designed to meet client needs.
  鈦� Leveraging its established network and supplier relationships, ONEG believes it is well-equipped to manage tight timelines and accommodate supplemental orders.
  鈦� ONEG' believes that its ability to promptly respond to unforeseen demands and adjust supply and installation schedules enhances its appeal to clients.
• Well-Positioned for Public Sector Construction Growth:
  鈦� ONEG is primarily engaged in works for the growing public sector.
  鈦� According to the Construction Expenditure Forecast prepared by Construction Industry Council of Hong Kong, the construction expenditures for building works in both public and private sectors and civil works in the public sector (i.e., the construction works that most involved the use of structural steelwork) in Hong Kong is expected to grow at a听CAGR of 4.5% between 2025 and 2027, despite a recent decline in construction expenditures for the private sector.
• Visionary and Experienced Leadership:
  鈦� ONEG is led by a visionary and experienced management team with robust technical and operational expertise.
  鈦� ONEG's management team, including its executive director and general manager, brings substantial technical and management experience, complemented by extensive industry networks.
  鈦� ONEG's strong and dedicated execution team collaborates closely with clients to effectively meet their needs and adapt to market trends.

ONEG's Recent Development

On January 2, 2025, ONEG announced the closing of its initial public offering of 1,750,000 ordinary shares at a public offering price of $4.00 per share (the "Offering"). The aggregate gross proceeds from the Offering were $7 million, before deducting underwriting discounts and other related expenses. The net proceeds from the Offering were mainly for funding up-front costs for future projects, expanding management and technical teams, and bolstering working capital.

The Offering was conducted on a firm commitment basis. American Trust Investment Services and WestPark Capital acted as underwriters. WestPark Capital was the book-running manager for the Offering. Hunter Taubman Fischer & Li LLC acted as U.S. securities counsel to ONEG, and Ortoli Rosenstadt LLP acted as U.S. securities counsel to the underwriters in connection with the Offering.

In February 2025, ONEG established an equity incentive plan to attract and retain the best available personnel for positions of responsibility with ONEG and provide them with additional incentives for the purpose of promoting its long-term business success. ONEG has reserved 3,000,000 authorized but unissued ordinary shares for issuance under the plan ("ESOP Shares"). In May 2025, ONEG issued 3,000,000 ESOP Shares to certain employees under the plan at the consideration of $0.0001 for each ESOP Share.

Outlook

Looking ahead, ONEG will remain focused on expanding its market presence, particularly in the public sector. ONEG is committed to driving operational efficiency and delivering sustainable growth in the face of ongoing macroeconomic challenges.

About the OneConstruction Group

OneConstruction Group is a structural steelwork contractor based in Hong Kong. Through its operating subsidiary, ONEG specializes in the procurement and installation of structural steel across a diverse range of construction projects in Hong Kong, including residential and commercial developments as well as infrastructure works. While much of its work is commissioned by the public sector, ONEG also serves private clients, delivering customized steel solutions tailored to Hong Kong's construction needs. For more information, please visit ONEG's website: .听

Forward-looking Statements

All forward-looking statements, expressed or implied, in this release are based only on information currently available to us and speak only as of the date on which they are made. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this prospectus. Except as otherwise required by applicable law, ONEG disclaims any duty to publicly update any forward-looking statement, each of which is expressly qualified by the statements in this section, to reflect events or circumstances after the date of this release. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the registration statements filed with the U.S. Securities and Exchange Commission (the "SEC"). Although ONEG 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 ONEG 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 ONEG's registration statement and other filings with the SEC. Additional factors are discussed in ONEG's filings with the SEC, which are available for review at .听

For more information, please contact:

Investor Relations

Mr. Gordon Li
[email protected]听

Media Relations

Ms. Callis Lau / Mr. Gary Li / Ms. Lorraine Luk
[email protected]听

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SOURCE OneConstruction Group Limited