K.H. GP HLDGS Ltd. (the "Company") announces its full-year performance for the fiscal year ended March 31, 2024. The Group recorded a revenue of approximately HKD 175,174,000 in the fiscal year, a 28.6% decrease from the previous year. Gross loss was approximately HKD 31,039,000, with gross loss margin increased from 11.8% in the prior year to 17.7%. The loss during the year was approximately HKD 51,560,000, a 30.4% decrease from the previous year. The challenges faced by the Group include labor shortage in the construction industry, potential adjustment of the local housing market, and global economic slowdown. Nevertheless, the Board of Directors holds a cautious and optimistic view on the prospects of the Hong Kong foundation industry and will continue to prudently expand the core business. In...Show More

K.H. GP HLDGS Ltd. (the "Company") announces its full-year performance for the fiscal year ended March 31, 2024. The Group recorded a revenue of approximately HKD 175,174,000 in the fiscal year, a 28.6% decrease from the previous year. Gross loss was approximately HKD 31,039,000, with gross loss margin increased from 11.8% in the prior year to 17.7%. The loss during the year was approximately HKD 51,560,000, a 30.4% decrease from the previous year. The challenges faced by the Group include labor shortage in the construction industry, potential adjustment of the local housing market, and global economic slowdown. Nevertheless, the Board of Directors holds a cautious and optimistic view on the prospects of the Hong Kong foundation industry and will continue to prudently expand the core business. In addition, the company is exploring opportunities for the development of new energy materials and environmentally friendly recycling industries, and has started chemical trading. After the reporting period, Bank of East Asia, Limited submitted a winding-up petition against the Company and its wholly-owned subsidiary, Jian Hong Foundations Limited, for the outstanding credit facilities. The Company will actively negotiate a solution with the bank and seek legal advice.