OneConstruction Group reports $13.2M net loss on reduced revenue for FY2026

OneConstruction Group Faces Net Loss in Fiscal Year 2026

OneConstruction Group Limited, a structural steelwork contractor based in Hong Kong, reported a net loss of $13.2 million for the fiscal year ended March 31, 2026. This marks a significant shift from the previous fiscal year, where the company posted a net profit of $0.9 million.

The company's revenue for FY2026 saw a 7.2% decline, falling to $49.4 million from $53.2 million in FY2025. The decrease was primarily attributed to a reduction in revenue from structural steelwork contracts for public sector residential construction projects under the Hong Kong Housing Authority. This was partially offset by an increase in revenue from infrastructure and public facilities projects.

Administrative expenses surged by 62.4% to $3.6 million in FY2026, compared to $2.2 million in FY2025. The company cited increased staff costs, higher lease expenses due to a new office, and increased insurance costs following the purchase of D&O liability insurance post-IPO as reasons for the rise.

Additionally, the company recognized $1.49 million in share-based compensation expenses related to incentive share options granted to employees. OneConstruction Group stated it does not currently engage in any off-balance sheet financing arrangements.