Image source: © 2025 Krish Capital Pty.Ltd

Highlights

  • FY2025 revenue declined 16.2% to USD 53.2M year-over-year.
  • Public sector residential construction revenue grew 23.1% to USD 39.7M.
  • Completed IPO in January 2025, raising USD 7M at USD 4.00 per share.

OneConstruction Group (NASDAQ: ONEG), a Hong Kong-based structural steelwork contractor, has released its financial results for the fiscal year ended March 31, 2025, showing mixed performance across its business segments.

Revenue for the year declined 16.2% to USD 53.2 million from USD 63.5 million in FY2024, reflecting reduced activity in certain private sector projects. However, the company saw growth in its public sector residential construction business, which increased 23.1% to USD 39.7 million, supported by ongoing government housing initiatives.

Gross profit for FY2025 decreased 11.9% to USD 3.9 million from USD 4.4 million a year earlier. Despite the decline in profit dollars, gross profit margin improved slightly to 7.4% from 7.0% in FY2024, primarily due to a more favorable project mix.

Net income fell to USD 0.9 million, down 50% from USD 1.8 million in the prior year. The decline was largely driven by a 153.9% increase in administrative expenses to USD 2.2 million, related to costs associated with the company’s initial public offering (IPO). The IPO, completed in January 2025, raised USD 7 million at USD 4.00 per share, providing additional funding for operational and strategic initiatives.

As part of its post-IPO employee retention strategy, the company established an equity incentive plan in February 2025, issuing 3 million employee stock option plan (ESOP) shares at USD 0.0001 per share.

The company’s cash position as of year-end stood at USD 0.7 million, down from USD 1.6 million in FY2024, reflecting higher operating expenses and investment in project execution.