OneConstruction Group Limited Announces Interim Results For the Six Months Ended September 30, 2025

Rhea-AI Summary

OneConstruction Group (NASDAQ: ONEG) reported unaudited interim results for the six months ended September 30, 2025. Revenue was $27.8 million, down 3.4% year-over-year. The company recorded a net loss of $0.1 million versus net income of $1.2 million a year earlier. Administrative expenses rose 94.9% to $1.7 million, driven by higher professional fees, payroll (including a director) and larger office leases following the Nasdaq listing.

ONEG recognized share-based payment expense after establishing a 2025 Equity Incentive Plan and issuing 3,000,000 ESOP shares. As of September 30, 2025, cash was $4.8 million, current ratio was 3.4, total assets were $50.0 million and shareholders' equity was $12.7 million.

Positive

• Current ratio of 3.4, indicating short-term liquidity
• Shareholders' equity of $12.7 million, net asset position

Negative

• Net loss of $0.1 million for the six months ended September 30, 2025 versus net income of $1.2 million a year earlier
• Administrative expenses increased by 94.9% to $1.7 million
• Issued 3,000,000 ESOP shares, triggering share-based payment expenses

News Market Reaction

-9.86%

3 alerts

-9.86% News Effect

+3.9% Peak Tracked

-5.4% Trough Tracked

-$4M Valuation Impact

$33M Market Cap

0.1x Rel. Volume

On the day this news was published, ONEG declined 9.86%, reflecting a notable negative market reaction. Argus tracked a peak move of +3.9% during that session. Argus tracked a trough of -5.4% from its starting point during tracking. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $4M from the company's valuation, bringing the market cap to $33M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Interim revenue: $27.8 million Net results: $0.1 million net loss Administrative expenses: $1.7 million +5 more

8 metrics

Interim revenue $27.8 million Six months ended Sep 30, 2025 (vs. $28.7M in 2024, -3.4%)

Net results $0.1 million net loss Six months ended Sep 30, 2025 (vs. $1.2M net profit in 2024)

Administrative expenses $1.7 million Six months ended Sep 30, 2025 (vs. $0.9M in 2024, +94.9%)

ESOP shares issued 3,000,000 shares at $0.0001 2025 Equity Incentive Plan grant to employees

Basic & diluted EPS -$0.008 per share Six months ended Sep 30, 2025 (vs. $0.11 in 2024)

Cash balance $4.8 million As of Sep 30, 2025

Current ratio 3.4 Net current assets $34.8M; current assets $49.3M vs. liabilities $14.5M

Other borrowings $1.5 million As of Sep 30, 2025

Market Reality Check

Price: $3.27 Vol: Volume 45,468 vs 20-day a...

low vol

$3.27 Last Close

Volume Volume 45,468 vs 20-day average 161,109 (relative volume 0.28) suggests contained trading interest ahead of/around this release. low

Technical Price $2.18 is trading below the $6.01 200-day MA and 83.85% below the 52-week high of $13.50, while sitting 118% above the 52-week low of $1.00.

Peers on Argus

ONEG fell 5.22% while peers were mixed: MIMI down 1.05%, but ESOA, SLND, SHIM, a...

ONEG fell 5.22% while peers were mixed: MIMI down 1.05%, but ESOA, SLND, SHIM, and SKBL gained between 0.54% and 4.44%, pointing to a company-specific reaction rather than an industry-wide move.

Historical Context

1 past event · Latest: Aug 12 (Negative)

Pattern 1 events

Date	Event	Sentiment	Move	Catalyst
Aug 12	Annual results	Negative	-7.9%	FY2025 revenue and profit decline with higher IPO-related expenses.

Pattern Detected

The prior major earnings-related disclosure with higher expenses and weaker results was followed by a negative price reaction, similar to the current loss-making interim results.

Recent Company History

On Aug 12, 2025, ONEG reported FY2025 results with revenue down 16.2% to $53.2 million and net income dropping to $0.9 million, partly due to higher administrative expenses tied to its IPO. That news saw a -7.94% reaction, indicating sensitivity to margin and expense pressures. Today’s interim update for the six months ended Sep 30, 2025 again highlights revenue softness, sharply higher administrative costs, and a swing to a small net loss, continuing that pattern of pressure on profitability.

Market Pulse Summary

The stock moved -9.9% in the session following this news. The decline reflects investor focus on the...

Analysis

The stock moved -9.9% in the session following this news. The decline reflects investor focus on the swing from a $1.2 million profit to a $0.1 million net loss and a near doubling of administrative expenses to $1.7 million. A prior earnings event on Aug 12, 2025 that showed revenue and profit declines was followed by a -7.94% move, so another negative reaction to rising costs and loss-making interim results would be consistent with this pattern.

Key Terms

share-based payment expenses, equity incentive plan, esop shares, ordinary shares, +2 more

6 terms

share-based payment expenses financial

"The share-based payment expenses represented ONEG's issuance of the 3,000,000 ESOP Shares..."

Share-based payment expenses are the recorded costs a company recognizes when it compensates employees, consultants or suppliers with its own stock or stock-based instruments (like options or restricted shares) instead of cash. Investors care because these costs reduce reported profits and can increase the number of shares outstanding over time, diluting ownership and affecting metrics such as earnings per share and valuation—similar to a business paying wages with gift cards that change who owns part of the company.

equity incentive plan financial

"On February 27, 2025, ONEG established its 2025 Equity Incentive Plan (the "Plan")."

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

esop shares financial

"Pursuant to the Plan, ONEG authorized 3,000,000 Ordinary Shares ("ESOP Shares") for issuance..."

Shares issued under an Employee Stock Ownership Plan (ESOP) are company stock set aside for employees so they own a piece of the business, similar to giving workers a small stake instead of or in addition to bonuses. For investors, ESOP shares matter because they can change how many total shares are outstanding (dilution), align employee and shareholder interests which may boost performance, and affect future selling pressure when employees cash out.

ordinary shares financial

"Pursuant to the Plan, ONEG authorized 3,000,000 Ordinary Shares ("ESOP Shares") for issuance..."

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

off-balance sheet arrangements financial

"ONEG did not have during the period presented, and it does not currently have, any off-balance sheet arrangements..."

Off-balance sheet arrangements are financial commitments, assets, or liabilities that a company keeps outside its main financial statements so they do not show up as part of its reported assets or debts. Think of them like a household using a long-term rental or guaranty that doesn’t appear on the credit card bill: they can hide future costs or risks, so investors watch them to understand the company’s true obligations and potential impact on cash flow and creditworthiness.

special purpose entities financial

"...entities sometimes referred to as structured finance or special purpose entities..."

A special purpose entity is a separate, narrowly focused company set up to hold specific assets, liabilities or transactions while keeping them legally distinct from the parent firm — think of it as a sealed box for particular deals. For investors it matters because these entities can isolate risk or move assets off a company’s main books, which affects how safe, transparent and valuable the parent company’s finances really are.

AI-generated analysis. Not financial advice.

OneConstruction Group Limited
(NASDAQ: ONEG)

NEW YORK, Jan. 14, 2026 /PRNewswire/ -- OneConstruction Group Limited ("OneConstruction Group" or "ONEG"), a Cayman Islands exempted company with limited liability that, through its operating subsidiary, OneConstruction Engineering Projects Limited, a company incorporated under the laws of Hong Kong with limited liability, operates as a structural steelwork contractor for construction projects in both the public and private sectors in Hong Kong, today announced its unaudited interim financial results for the six months ended September 30, 2025.

Overview:

• Revenue was $27.8 million for the six months ended September 30, 2025, representing a slight decrease of 3.4% from the same period in 2024.
  
  
• Net loss was $0.1 million for the six months ended September 30, 2025 (2024: net profit of $1.2 million).

Six-Month Financial Results Ended September 30, 2025

Revenue. Revenue decreased slightly by 3.4% from $28.7 million for the six months ended September 30, 2024, to $27.8 million for the six months ended September 30, 2025. The decrease in revenue during the six-month period ended September 30, 2025, was mainly attributable to the combined impact of an increase in revenue derived from the public sector, mainly the infrastructure and public facilities projects, and a decrease in revenue derived from the private sector due to the slowdown in the development of the commercial property market in Hong Kong.

Administrative expenses. Administrative expenses increased by 94.9% from $0.9 million for the six months ended September 30, 2024, to $1.7 million for the six months ended September 30, 2025, which was mainly due to an increase in the professional fees and other administrative expenses as a result of ONEG's listing on the Nasdaq in December 2024, an increase in payroll as results of an increase in the headcount of office staff (included a director) and an increase in leasing expense by increasing office space and related expenses.

Share-based payment expenses. On February 27, 2025, ONEG established its 2025 Equity Incentive Plan (the "Plan"). Pursuant to the Plan, ONEG authorized 3,000,000 Ordinary Shares ("ESOP Shares") for issuance under the Plan. The purpose of the Plan was to attract and retain the best available personnel for positions of responsibility with ONEG, to provide additional incentives to them and align their interests with those of the shareholders of ONEG, and to thereby promote its long-term business success. The share-based payment expenses represented ONEG's issuance of the 3,000,000 ESOP Shares to certain employees pursuant to the Plan for consideration of US$0.0001 for each ESOP Share.

Net loss. Net loss for the six months ended September 30, 2025 amounted to $0.1 million as compared to net income of $1.2 million for the six months ended September 30, 2024. The loss was mainly due to the increase in administrative expenses and the issuance of ESOP Shares to ONEG's employees during the period.

Basic and diluted EPS. Basic and diluted loss per share were $0.008 and $0.008 per Ordinary Share for the six months ended September 30, 2025, respectively, as compared to earnings per share of $0.11 and $0.11 per Ordinary Share for the six months ended September 30, 2024, respectively.

Liquidity and Capital Resources

As of September 30, 2025, ONEG had cash of $4.8 million, total current assets of $49.3 million, and total current liabilities of $14.5 million. Net current assets were $34.8 million and the current ratio was 3.4. As of September 30, 2025, ONEG had total assets and total liabilities of $50.0 million and $37.3 million, respectively, and hence ONEG had shareholders' equity of $12.7 million. As of September 30, 2025, ONEG had other borrowings of $1.5 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 subsidiaries, 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
		September 30,				March 31,
		2025				2025
		USD'000				USD'000
		(Unaudited)				(Audited)
Assets
Current assets:
Accounts receivable, net			16,523				22,934
Prepayment of equipment			239				209
Deposits, prepayment and other receivables			224				218
Contract assets			27,505				24,969
Cash and cash equivalents			4,777				749
Total current assets			49,268				49,079
Non-current assets:
Property and equipment			241				11
Right-of-use assets, operating leases			383				567
Deferred tax assets			38				188
Total non-current assets			662				766
Total assets			49,930				49,845
Liabilities
Current liabilities:
Accounts payables			10,311				10,350
Accrual and other payables			1,923				2,351
Amount due to a shareholder			9				2
Contract liabilities			241				630
Operating lease liabilities			383				373
Other borrowings			1,533				2,117
Current income tax liabilities			136				121
Total current liabilities			14,536				15,944
Non-current liabilities:
Operating lease liabilities			-				193
Loan due to a shareholder			22,741				21,567
Total non-current liabilities			22,741				21,760
Total liabilities			37,277				37,704
Shareholders' equity:
Ordinary shares, US$0.0001 par value; 500,000,000 shares authorized, 16,000,000        (March 31, 2025: 13,000,000) shares issued and outstanding			1				1
Additional paid-in capital			6,218				5,570
Retained earnings			6,366				6,497
Exchange reserve			68				73
Total shareholders' equity			12,653				12,141
Total liabilities and equity			49,930				49,845

 

 

 

ONECONSTRUCTION GROUP LIMITED
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME
		For the six months ended September 30,
		2025				2024
		USD'000				USD'000
		(Unaudited)				(Unaudited)
Revenue			27,762				28,736
Cost of sales			(25,502)				(26,348)
Gross profit			2,260				2,388
Other income			479				7
Allowance for credit loss on financial assets, net of reversal			(193)				(124)
Administrative expenses			(1,670)				(857)
Share based payment expenses			(669)				-
Profit from operations			207				1,414
Finance cost			(175)				(245)
Profit before taxation			32				1,169
Income tax (credit)/expenses			(163)				73
Net (loss)/income			(131)				1,242
Other comprehensive (expense) income
Exchange difference on translation of foreign operations			(5)				53
Total comprehensive (loss)/income attributable to shareholders			(136)				1,295
Net (loss)/income per share attributable to shareholders
Basic (cents)			(0.8)				11.0
Diluted (cents)			(0.8)				11.0
Weighted average number of ordinary shares used in computing net (loss)/income    per share
Basic			15,426,230				11,250,000
Diluted			15,426,230				11,250,000

 

 

 

View original content:https://www.prnewswire.com/news-releases/oneconstruction-group-limited-announces-interim-results-for-the-six-months-ended-september-30-2025-302661644.html

SOURCE OneConstruction Group Limited

FAQ

What were OneConstruction Group's revenue and net income for the six months ended September 30, 2025 (ONEG)?

Revenue was $27.8 million and the company reported a net loss of $0.1 million for the six months ended September 30, 2025.

Why did ONEG record a net loss in H1 FY2026 (six months ended Sept 30, 2025)?

The loss was mainly due to a 94.9% increase in administrative expenses and share-based payment expenses from issuing ESOP shares under the 2025 Equity Incentive Plan.

How did OneConstruction Group's expenses change after its Nasdaq listing (ONEG)?

Administrative expenses rose to $1.7 million, driven by higher professional fees, increased payroll and larger office leasing costs following the Nasdaq listing.

How much cash and liquidity did ONEG have as of September 30, 2025?

As of September 30, 2025, ONEG had $4.8 million in cash and a current ratio of 3.4.

What is the 2025 Equity Incentive Plan announced by OneConstruction Group (ONEG)?

ONEG established a 2025 Equity Incentive Plan authorizing 3,000,000 ordinary ESOP shares, which were issued to certain employees for nominal consideration and recorded as share-based payment expense.