OneConstruction Group Ltd
oneconstruction.com.hkWhat Do They Do?
Installs structural steel for construction projects, serving general contractors on public infrastructure and housing projects and private commercial, residential and industrial developments in Hong Kong.
20-F for FY2026, filed Jul 23, 2026We, through the operating subsidiary, are a structural steelwork contractor in Hong Kong, specializing in the procurement and installation…View ↗
Structural steelwork refers to the installation and formation of steel structures, typically serving as the backbone of commercial and…View ↗
The operating subsidiary is a Registered Specialist Trade Contractor for Reinforcement Bar Fixing under the Registered Specialist Trade…View ↗
How Do They Make Money?
General contractors pay for construction and structural steelwork services as the work is completed, with bills submitted as work progresses under agreed contract terms. Customers may retain part of the payment until the retention period ends.
20-F for FY2026, filed Jul 23, 2026Clients customarily confirm the operating subsidiary’s engagement by issuing a letter of award or entering into a formal contract with it.…View ↗
The Group generally measures its progress to completion using an input measure of total costs incurred divided by total costs expected to…View ↗
Revenue from the provision of construction services is recognized over time, using an input method to measure progress towards complete…View ↗
$49.4M
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20-F for FY2026, filed Jul 23, 2026
$49.4M ↗
Who Are Their Customers?
Registered general building contractors buy the services, usually after inviting the company to tender. Public-sector projects come through contractors engaged by government departments and public bodies; private-sector projects come through contractors engaged by property developers.
20-F for FY2026, filed Jul 23, 2026
20-F for FY2026, filed Jul 23, 2026
There were three, two and two customers from whom revenues individually represent greater than 10% of the total revenues of the Group for…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $13.2M in FY2026, but brought in more cash than it spent: $1.3M of free cash flow.
20-F for FY2026, filed Jul 23, 2026
−$12.6MView ↗
20-F for FY2026, filed Jul 23, 2026
−$13.2MView ↗
20-F for FY2026, filed Jul 23, 2026
$1.3MView ↗
How Are They Changing?
Shrinking. Revenue fell 9% in 3 years, from $54.5M in FY2023 to $49.4M in FY2026, about 3% a year.
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