OneConstruction Group Limited Announces Annual Financial Results for the Fiscal Year Ended March 31, 2026

OneConstruction Group Limited
(NASDAQ: ONEG)

NEW YORK, July 23, 2026 /PRNewswire/ -- OneConstruction Group Limited ("OneConstruction Group" or "ONEG"), a Cayman Islands exempted company with limited liability, today announced its audited financial results for the fiscal year ended March 31, 2026. ONEG operates as a structural steelwork contractor for construction projects in both the public and private sectors in Hong Kong through its operating subsidiary, OneConstruction Engineering Projects Limited, a company incorporated under the laws of Hong Kong with limited liability.

Overview:

• Revenue was $49.4 million for the fiscal year ended March 31, 2026 ("FY2026"), representing a decrease of 7.2% compared to the fiscal year ended March 31, 2025 ("FY2025").
  
  
• Net Loss was $13.2 million for the fiscal year ended March 31, 2026 (FY2025: net profit of $0.9 million).

Annual Financial Results for the Year Ended March 31, 2026.

Revenue. Revenue for FY2026 decreased by 7.2% to $49.4 million, compared to $53.2 million in FY2025. The decrease in revenue was mainly attributable to a decline in revenue from structural steelworks for public sector residential construction projects under the Hong Kong Housing Authority, which was partially offset by an increase in revenue from infrastructure and public facilities projects.

Administrative expenses. Administrative expenses for FY2026 increased by 62.4% to $3.6 million, compared to $2.2 million in FY2025. This increase was mainly due to an increase in staff costs, higher lease expenses following the rental of a new office in FY2026, and higher insurance expenses following the purchase of D&O liability insurance after our initial public offering.

Share-based compensation expenses. During the year ended March 31, 2026, the Company granted an aggregate of 3,000,000 share options (the "Incentive Share Options") to certain employees under its 2025 Equity Incentive Plan for 3-year services. The awards were granted to attract and retain key personnel, provide additional incentives, and align employees' interests with those of the Company's shareholders. Each Incentive Share Option entitles the holder to subscribe for one ordinary share of the Company at an exercise price of US$0 per share. The options vest ratably over the three-year requisite service period, and share-based compensation cost is amortized on a straight-line basis over that same period. For the year ended March 31, 2026, the Company recognized share-based compensation expense of $1,487,000 related to these options.

Net Loss. Net loss for FY2026 amounted to $13.2 million as compared to net income of $0.9 million in FY2025. The loss was mainly due to the combined impact of an increased gross loss and higher administrative expenses, both as discussed above.

Basic and diluted EPS. Basic and diluted loss per share were $0.84 and $0.84 per Ordinary Share for FY2026, respectively, as compared to earnings per share of $0.08 and $0.08 per Ordinary Share for FY2025, respectively.

Liquidity and Capital Resources

As of March 31, 2026, ONEG had cash of $1.7 million, total current assets of $36.3 million, and total current liabilities of $14.3 million. Net current assets were $22.0 million and the current ratio was 2.5. As of March 31, 2026, ONEG had total assets and total liabilities of $36.9 million and $36.6 million, respectively, and hence ONEG had shareholders' equity of $0.3 million. As of March 31, 2026, ONEG had other borrowings of $0.9 million.

Off-Balance Sheet Arrangements

ONEG did not have during the period presented, and it does not currently have, any off-balance sheet financing arrangements or any relationships with unconsolidated entities or financial partnerships, including entities sometimes referred to as structured finance or special purpose entities, that were established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.

About the OneConstruction Group

OneConstruction Group is a structural steelwork contractor based in Hong Kong. Through its operating subsidiary, OneConstruction Engineering Projects Limited, 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: www.OneConstruction.com.hk.

Forward-looking Statements

All forward-looking statements, expressed or implied, in this release are based only on information currently available to ONEG 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. 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 statement 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 www.sec.gov.

For more information, please contact:

Investor Relations
Mr. Gordon Li
[email protected]

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

ONECONSTRUCTION GROUP LIMITED
CONSOLIDATED BALANCE SHEETS
						As of
						March 31, 2026				March 31, 2025
						US$'000				US$'000
ASSETS
Current assets:
Accounts receivable, net							15,553				22,934
Prepayment of equipment							-				209
Deposits, prepayment and other receivables							329				218
Contract assets							18,699				24,969
Cash and cash equivalents							1,694				749
Total current assets							36,275				49,079
Non-current assets:
Property and equipment							414				11
Right-of-use assets, operating leases							211				567
Deferred tax assets							-				188
Total non-current assets							625				766
Total assets							36,900				49,845
LIABILITIES AND EQUITY
Accounts payable							9,275				10,350
Accruals and other payables							3,496				2,351
Amount due to a shareholder							9				2
Contract liabilities							283				630
Operating lease liabilities							211				373
Bank and other borrowings							913				2,117
Current income tax liabilities							120				121
Total current liabilities							14,307				15,944
Non-current liabilities:
Operating lease liabilities							-				193
Loan due to a shareholder							22,310				21,567
Total non-current liabilities							22,310				21,760
Shareholders' equity:
Ordinary shares, par value US$0.0001, 500,000,000 shares authorized, 16,000,000 and 13,000,000 ordinary shares issued and outstanding as of March 31, 2026 and 2025 respectively							2				1
Additional paid-in capital							7,035				5,570
(Accumulated loss) Retained earnings							(6,714)				6,497
Exchange reserve							(40)				73
Total shareholders' equity							283				12,141
Total liabilities and equity							36,900				49,845

ONECONSTRUCTION GROUP LIMITED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
						2026				2025				2024
						US$'000				US$'000				US$'000
Revenue							49,358				53,205				63,463
Cost of revenue							(56,475)				(49,289)				(59,020)
Gross (loss) profit							(7,117)				3,916				4,443
Other income							480				12				13
Allowance for credit loss on accounts receivable and contract assets							(892)				(13)				(1,347)
Administrative expenses							(3,617)				(2,227)				(877)
Share based compensation expenses							(1,487)				-				-
(Loss) profit from operations							(12,633)				1,688				2,232
Finance costs							(392)				(549)				(322)
(Loss) profit before taxation							(13,025)				1,139				1,910
Income tax expense							(186)				(241)				(141)
Net (loss) income							(13,211)				898				1,769
Other comprehensive (expense) income
Exchange difference on translation of foreign operations							(113)				44				28
Total comprehensive (expense) income attributable to shareholders							(13,324)				942				1,797
Net (loss) income per share attributable to shareholders
Basic and diluted (cents)							(84)				8				16
Weighted average number of ordinary shares used in computing net (loss) income per share
Basic and diluted							15,720,548				11,686,301				11,250,000

SOURCE OneConstruction Group Limited