OneConstruction Group Reports $13.2M Loss, Revenue Falls 7.2%

OneConstruction Group swung to a net loss of $13.2 million for the fiscal year ended March 31, 2026, from net income of $0.9 million a year earlier, as revenue slipped and costs climbed. The Hong Kong-based structural steelwork contractor reported revenue of $49.4 million, down 7.2% from $53.2 million in FY2025, the company said in a statement Thursday.

The revenue decline was mostly driven by weaker demand from public sector residential projects under the Hong Kong Housing Authority. Infrastructure and public facilities work partially offset that drop, the company said.

Administrative expenses jumped 62.4% to $3.6 million, from $2.2 million. The increase came from higher staff costs and a new office lease. The company also took on directors and officers liability insurance after its initial public offering, which added to the line.

OneConstruction Group recognized $1.5 million in share-based compensation expense after granting 3 million incentive share options to employees under its 2025 Equity Incentive Plan. The options, which carry a $0 exercise price, vest ratably over three years. The company said the awards are meant to attract and retain key personnel while aligning their interests with shareholders.