Tysan Holdings (00687.HK) announced on August 21 that its unaudited comprehensive performance for the six months ended June 30, 2024. During the review period, the group recorded revenue of 1.009 billion Hong Kong dollars and the attributable surplus to ordinary shareholders of the company was approximately 11 million Hong Kong dollars (for the period ended June 30, 2023: a loss of 41 million Hong Kong dollars). This is equivalent to earnings per share of 0.32 Hong Kong cents (for the period ended June 30, 2023: a loss per share of 1.23 Hong Kong cents).

During the review period, the group's revenue from pile foundation piling was approximately 1.009 billion Hong Kong dollars (for the period ended June 30, 2023: 1.426 billion Hong Kong dollars). This category recorded a surplus of approximately 19 million Hong Kong dollars (for the period ended June 30, 2023: a loss of 22 million Hong Kong dollars). The group's major contracts include various commercial and residential development projects, such as Lot No. 11273 in Kowloon Inner Lot, Wong Kok Laundry Street and Yat Kai Lo Street, Bridgehead Bridge Cheung Road D.D. No. 124 Lot No. 4354, Phase II of Fengling North District and Phase 42 of Tung Chung District Rental Housing Estate, Kwai Chung Container Terminal Warehouse Development, Tuen Mun District 54 and Chai Wan Constant Street/Chang Ping Street Simplex Public Housing.

Looking ahead, the pile foundation piling industry will continue to face intense competition due to the current economic environment. However, the group's tender volume remains stable, and the company has implemented cost reduction measures to maintain competitiveness. With the launch of more projects such as rental housing and affordable housing, land leveling and infrastructure projects, the tender volume in the public sector remains strong, while the tender volume in the private sector has slowed down relatively. New development areas (including the Northern Metropolis) will start land and railroad property development projects to achieve government development goals. These projects will be developed in multiple stages and are expected to provide a stable source of business for the entire construction industry. The company will actively participate in bidding for these government initiatives to ensure its share in the pile foundation piling market.