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

Rhea-AI Summary

OneConstruction Group (NASDAQ: ONEG) reported audited results for the fiscal year ended March 31, 2026. Revenue was $49.4 million, down 7.2% from $53.2 million in FY2025, mainly due to lower public sector residential structural steelwork revenue, partially offset by higher infrastructure and public facilities work.

The company recorded a net loss of $13.2 million, versus net income of $0.9 million a year earlier, driven by a gross loss of $7.1 million and higher operating costs. Administrative expenses rose 62.4% to $3.6 million, and share-based compensation expenses were $1.5 million after granting 3,000,000 zero‑exercise‑price options under the 2025 Equity Incentive Plan.

As of March 31, 2026, OneConstruction had cash of $1.7 million, current assets of $36.3 million and current liabilities of $14.3 million, resulting in net current assets of $22.0 million and a current ratio of 2.5. Total assets were $36.9 million, total liabilities $36.6 million and shareholders' equity $0.3 million. Bank and other borrowings were $0.9 million, and a loan due to a shareholder totaled $22.3 million. The company reported no off‑balance sheet arrangements.

Positive

• Revenue $49.4 million for FY2026 despite sector softness
• Net current assets $22.0 million and current ratio of 2.5 at March 31, 2026
• Cash balance $1.7 million at March 31, 2026, up from $0.7 million in FY2025
• Bank and other borrowings $0.9 million, down from $2.1 million in FY2025
• Other income $0.48 million in FY2026 versus $0.01 million in FY2025
• Additional paid‑in capital $7.0 million, up from $5.6 million with higher share count

Negative

• Revenue down 7.2% to $49.4 million versus $53.2 million in FY2025
• Gross loss $7.1 million versus gross profit $3.9 million in FY2025
• Net loss $13.2 million versus net income $0.9 million in FY2025
• Administrative expenses up 62.4% to $3.6 million year over year
• Share‑based compensation expense $1.5 million tied to 3,000,000 options at $0 exercise price
• Shareholders' equity fell to $0.3 million from $12.1 million in FY2025
• Loan due to a shareholder $22.3 million, up from $21.6 million

News Explained

The completed audited FY2026 results show ordinary shares issued and outstanding increased to 16 million on March 31, 2026, from 13 million a year earlier, reducing an existing holder’s percentage ownership absent offsetting changes.

News Market Reaction – ONEG

-0.97%

-0.97% Session close to close

In the Jul 24 session, ONEG declined 0.97%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

ONEG’s earnings history includes -7.94% and +7.93% 24-hour reactions. That mixed record places FY202...

Analysis

ONEG’s earnings history includes -7.94% and +7.93% 24-hour reactions. That mixed record places FY2026’s revenue decline and net loss in context; shareholders’ equity of $0.3 million remains a risk to monitor.

Key Figures

Revenue: $49.4 million Net Loss: $13.2 million Administrative Expenses: $3.6 million +5 more

8 metrics

Revenue $49.4 million FY2026, down 7.2% from FY2025

Net Loss $13.2 million FY2026 versus $0.9 million net profit in FY2025

Administrative Expenses $3.6 million FY2026, up 62.4% from $2.2 million in FY2025

Share Options Granted 3,000,000 share options Granted under the 2025 Equity Incentive Plan

Share-Based Compensation $1,487,000 Expense recognized during FY2026

Loss Per Share $0.84 Basic and diluted FY2026 EPS versus $0.08 earnings per share in FY2025

Cash $1.7 million Balance as of March 31, 2026

Shareholders' Equity $0.3 million Balance as of March 31, 2026

Previous Earnings Reports

2 past events · Latest: Aug 12 (Negative)

Same Type Pattern 2 events

Date	Event	Sentiment	24h Move	Catalyst
Aug 12	Annual earnings	Negative	-7.9%	Revenue and net income declined in FY2025, followed by a 7.94% negative reaction.
Mar 31	Interim earnings	Negative	+7.9%	Revenue and profit after tax declined despite higher gross profit, followed by a 7.93% positive reaction.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Tag-specific earnings history showed mixed alignment, with one negative and one positive 24-hour price reaction.

Key Terms

share-based compensation expenses, current ratio, contract assets, off-balance sheet financing arrangements

4 terms

share-based compensation expenses financial

"For the year ended March 31, 2026, the Company recognized share-based compensation expense"

Share-based compensation expenses are the accounting costs a company records when it pays employees, directors or contractors with company stock, stock options, or other equity instruments instead of cash. Investors care because these expenses reduce reported profits and can increase the number of outstanding shares, diluting ownership — like a business paying wages with gift cards that count as payroll cost and also add more gift cards in circulation.

current ratio financial

"Net current assets were $22.0 million and the current ratio was 2.5."

The current ratio measures a company’s short-term ability to pay upcoming bills by comparing assets that can be turned into cash within a year (like cash, inventory, and receivables) to obligations due within the same period. Investors use it like a household budget check — a ratio above 1 suggests the company has more short-term resources than immediate debts, while a very low or very high ratio can signal liquidity risk or inefficient use of assets.

View in glossary

contract assets financial

"Contract assets | 18,699 | 24,969"

Contract assets are amounts a company has earned by doing work or delivering goods under a customer agreement but has not yet billed or collected because certain contract conditions remain. Think of it as completed work sitting in a company’s toolbox waiting for an invoice trigger. For investors, growing contract assets signal future cash and revenue potential but also raise questions about timing, cash collection risk and the real strength of reported sales.

off-balance sheet financing arrangements financial

"ONEG did not have during the period presented any off-balance sheet financing arrangements"

Financing or obligation arrangements that a company structures so the related assets, liabilities or debt-like commitments do not appear on its primary balance sheet; examples include certain leases, guarantees, joint ventures, and special-purpose entities. These arrangements matter because they can hide the full size of a company’s obligations and affect measures like leverage and cash flow, much like keeping a loan in a separate drawer that doesn’t show up on the main household ledger.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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
gli@oneconstruction.com.hk

Media Relations
Ms. Callis Lau / Mr. Gary Li / Ms. Lorraine Luk
oneg@ipr.com.hk

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

 

View original content:https://www.prnewswire.com/news-releases/oneconstruction-group-limited-announces-annual-financial-results-for-the-fiscal-year-ended-march-31-2026-302833748.html

SOURCE OneConstruction Group Limited

FAQ

How did OneConstruction Group (NASDAQ: ONEG) perform financially in FY2026?

OneConstruction Group reported FY2026 revenue of $49.4 million and a net loss of $13.2 million. According to OneConstruction Group, this compared with $53.2 million revenue and $0.9 million net income in FY2025, reflecting a revenue decline and a swing to loss.

Why did OneConstruction Group’s revenue decline in the year ended March 31, 2026?

Revenue decreased 7.2% to $49.4 million in FY2026, mainly due to lower structural steelwork revenue from public sector residential projects under the Hong Kong Housing Authority. According to OneConstruction Group, this was partially offset by higher revenue from infrastructure and public facilities projects.

What caused OneConstruction Group’s net loss in FY2026 (symbol ONEG)?

OneConstruction Group recorded a net loss of $13.2 million in FY2026, versus $0.9 million net income in FY2025. According to OneConstruction Group, the loss mainly reflected a $7.1 million gross loss and higher administrative and share‑based compensation expenses.

What is OneConstruction Group’s cash and liquidity position as of March 31, 2026?

As of March 31, 2026, OneConstruction Group held $1.7 million in cash, with current assets of $36.3 million and current liabilities of $14.3 million. According to OneConstruction Group, this resulted in net current assets of $22.0 million and a current ratio of 2.5.

How did shareholders' equity change for OneConstruction Group (ONEG) in FY2026?

Shareholders' equity declined to $0.3 million at March 31, 2026, from $12.1 million a year earlier. According to OneConstruction Group, this reflected accumulated losses of $6.7 million, partly offset by higher additional paid‑in capital and an increased number of ordinary shares.

What share-based compensation did OneConstruction Group record in FY2026?

In FY2026, OneConstruction Group granted 3,000,000 share options under its 2025 Equity Incentive Plan at a US$0 exercise price. According to OneConstruction Group, options vest over three years and generated $1.487 million in share‑based compensation expense for the year.

Does OneConstruction Group have significant debt or off-balance sheet arrangements?

As of March 31, 2026, OneConstruction Group reported $0.9 million in bank and other borrowings and a $22.3 million loan due to a shareholder. According to OneConstruction Group, it had no off‑balance sheet financing arrangements or special purpose entities during the reported period.