Xingming Holdings (08425) released its annual results for the year ending March 31, 2024. The group earned a revenue of HKD 108 million, a year-on-year increase of 9.75%. The company's owners suffered a loss of HKD 568,000, compared to a profit of HKD 2.369 million in the same period last year, with a loss per share of 0.15 HK cents.

In the fiscal year 2024, the group will expand its business by purchasing more tower cranes. The company believes that the construction of houses will continue to drive demand for the company's machinery in the future. Considering the continuous increase in public housing applications in Hong Kong, the Hong Kong government and relevant departments are actively seeking more land to build public housing to meet the huge demand. Given the above, the company is confident that demand for tower cranes will remain strong in the coming years.