ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Jun 27, 2023 13:05 JST
Source:
Ching Lee Holdings Limited
Ching Lee Holdings realises profit returns from increased construction projects
HONG KONG, Jun 27, 2023 - (ACN Newswire) - Ching Lee Holdings Limited "Ching Lee" or "The Group" (stock code 3728.HK) has announced its annual results which have remarkable financial performance with rapid growth of revenue and notable gross profits for the turnaround from loss to profit. The net profit for the year ended 31 March 2023 was recorded a big gain at approximately HK$11.8 million as opposed to the net loss of approximately HK$18.2 million for the year ended 31 March 2022.
The Group's revenue for the year ended 31 March 2023 was recorded at approximately HK$708.8 million which represented an increase of approximately HK$172.3 million or 32.1% from approximately HK$536.5 million for the year ended 31 March 2022. We have continued to see broad-based income momentum across the Group. The increase in a number of new construction projects and effective cost control have helped to drive strong income and balance growth and scale to the business. RMAA works were the highlight of revenue improvement, which soared by about 275% from the prior year. While the superstructure works increased by 23.6%, the substructure works grew by 12.2% for the year.
The Group Chairman Mr. Ng Choi Wah, said: "We are pleased to make good progress in all businesses and have realised returns across all three operating segments. The Group remains confident with the economic outlook and the prospects of the construction industry in Hong Kong as the economy resumes upward momentum due to the full resumption of living. We continue to explore the opportunities in infrastructure and property development projects in future."
During the year, the Group has successfully overcome the impact of the COVID-19 pandemic and recovered speedily. The Group continues to capture different business opportunities with potential construction projects from our current customer networks.
Media enquiries:
New Smile Limited Strategic IR & PR Consultancy
Tel: +852 2126 7076
Jenny Lai
jenny.lai@newsmilehk.com
Jenny Cheung
jenny.cheung@newsmilehk.com
Richard Wong
richard.wong@newsmilehk.com
Notes to editors:
Ching Lee Holdings Limited "Ching Lee" or "The Group"
Ching Lee Holdings Limited, a limited liability company incorporated under the laws of the Cayman Islands, is a contractor in Hong Kong with over 23 years of experience in public and private sectors. The principal activities of Ching Lee Holdings and its subsidiaries are the provision of construction and consultancy works and project management services in Hong Kong, engaged in providing substructure building works services, superstructure building works services, and repair, maintenance, alteration and addition (RMAA) works services. Ching Lee Holdings Limited was transferred from GEM board to the main board in HKEx on September 18, 2017 with stock code 3728.hk. Company website:
http://www.chingleeholdings.com
Substructure building works services (Substructure works)
Superstructure building works services (Superstructure works)
Repair, maintenance, alteration and addition services (RMAA)
Substructure and Superstructure building works refer to building works in relation to the parts of the structure below or above the ground level respectively, while RMAA works are for existing structures. The scope of substructure building works projects consisted of demolition and hoarding, site formation and foundation works. The scope of superstructure building works projects consisted of development and redevelopment of educational, residential, and commercial buildings, and the scope of RMAA works consisted of improvement, fitting-out works, renovation works, restoration works and external works.
Source: Ching Lee Holdings Limited
Sectors: Construct, Engineering
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
Mitsubishi Corporation, KDDI CORPORATION, Lawson, Inc. Launching an Initiative to Transform into "Next-generation Convenience Store"
Sep 20, 2024 18:02 JST
Hitachi Rail is innovating and delivering transformative 5G digital signalling
Sep 20, 2024 16:47 JST
Olympus Launches New 4K Camera Head for Urological Endoscopy
Sep 20, 2024 15:00 JST
Honda to Relocate the Base of its Rugby Team Activities
Sep 19, 2024 15:05 JST
Renewal of Compact CO2 Capture System "CO2MPACT(TM)" Series
Sep 19, 2024 14:35 JST
The world's first commercial copper die-cast rotor for railway traction motors
Sep 19, 2024 13:57 JST
NEC Secures Fifth Consecutive Worldwide Partner of the Year Award from Juniper Networks
Sep 19, 2024 13:08 JST
Fujitsu and Stellar Science Foundation form partnership agreement to foster innovation by supporting young researchers
Sep 19, 2024 10:31 JST
Approval in Principle (AiP) Acquired from Two Classification Societies for Low-Pressure Type Liquefied CO2 Carriers undergoing Pursuit of Standardization toward Realization of Large-Scale International Transportation from 2028 onwards
Sep 18, 2024 18:02 JST
Europe's First Post-Combustion Carbon Capture Plant Starts Operation with MHI Technology as part of the Ravenna CCS Project, Phase 1
Sep 18, 2024 17:24 JST
Eutelsat and Mitsubishi Heavy Industries Reach Agreement for Multiple Launches
Sep 18, 2024 17:19 JST
NEC Orchestrating Future Fund invests in Sakana AI to promote development of generative AI
Sep 18, 2024 13:02 JST
IHI, Fujitsu, and Mizuho Bank form agreement to launch joint business venture to provide total support scheme for J-Credit
Sep 18, 2024 11:28 JST
JCB and Azer Turk Bank launch JCB merchant acquiring operations across the Republic of Azerbaijan
Sep 17, 2024 17:00 JST
Fuji frustration for TOYOTA GAZOO Racing
Sep 17, 2024 15:01 JST
Cordlife Unveils Enhanced Processing and Storage Facility in Singapore; Strengthens Processes as It Resumes Collection of Cord Blood Units in a Controlled Manner
Sep 17, 2024 14:30 JST
Japan International Aerospace Exhibition 2024: Japan's largest comprehensive aerospace industry exhibition
Sep 17, 2024 12:00 JST
LENVIMA(R) (lenvatinib) Plus KEYTRUDA(R) (pembrolizumab) in Combination With Transarterial Chemoembolization (TACE) Significantly Improved Progression-Free Survival Compared to TACE Alone in Patients With Unresectable, Non-Metastatic Hepatocellular Carcinoma (HCC)
Sep 17, 2024 10:08 JST
DENSO Wins Medals at 47th WorldSkills Competition
Sep 16, 2024 19:54 JST
Mitsubishi Corporation and ExxonMobil sign Project Framework Agreement to advance world's largest low-carbon hydrogen project
Sep 13, 2024 20:07 JST
More Latest Release >>
Related Release
Ching Lee Holdings (3728. HK) holds quality-driven strategies to acquire market share
September 20 2024 12:27 JST
Ching Lee Holdings (3728.HK) Stays Resilient in Gross Profit with Stress from Rate Hikes and Staff Costs
June 26 2024 11:26 JST
Ching Lee Holdings (3728. HK) doubles profit in 2023 interim results, showing strong growth capacity
November 28 2023 15:20 JST
Ching Lee Holdings (3728.HK) Wins in Adversity, Committed to Improving Cost Efficiency
January 09 2023 12:40 JST
Ching Lee Holdings (3728.HK) earns HK$1.54 billion of total contract values
August 17 2022 09:00 JST
Ching Lee Holdings Limited (3728.HK) invests HK$24 million to develop To Kwa Wan property project
June 06 2022 11:11 JST
Ching Lee Holdings Limited Invests in "AVA" Series Residential Project under Mr. Lo Wah's Family Group; Foraying into the Real Estate Investment Business
April 26 2018 18:15 JST
More Press release >>