HONG KONG, Nov 27, 2024 - (ACN Newswire) - Ching Lee Holdings Limited (“Ching Lee” or “The Group”, stock code 3728.HK) announced its 2024 Interim Results on Monday, showing impressive performance. Net profits increased by approximately 10% to HK$3.8million compared to the same period last year. Total revenue surged by approximately 29% year-on-year, and profit before tax rose by approximately 11%.
For the six months ended 30 September 2024, the profit of the Group was mainly attributable to the revenue growth due to most construction projects progressing smoothly to the middle and final stages in the first half of the year, enabling the Group to successfully collect payments for several projects. The Group continues to achieve earnings growth and protect shareholders’ interests, with basic earnings per share for the six months ended 30 September 2024 being 0.37 HK cents, compared to 0.34 HK cents per share for the six months ended 30 September 2023.
The Group has solid financial strength to capture various business opportunities with potential construction projects from our current customer networks. As a main contractor in the private sector in Hong Kong, we focus on our core business while actively seeking opportunities in the public sector for further business development.
The Group Chairman, Mr. Ng Choi Wah stated, “With interest rates on the decline, we expect the Hong Kong property market to gradually recover. We have great confidence in the economic outlook and the prospects of the construction industry in Hong Kong. The Group will continue to focus on its core business, delivering high-quality services for both private and public construction projects in Hong Kong, while actively exploring new business opportunities. Our management remains dedicated to increasing our influence within the industry and providing favourable returns for our shareholders.”
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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
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