WK Group (Holdings) Limited reported FY2025 revenue of HK$347.73 million, a 12.7% decline from FY2024, reflecting fewer projects and heightened competition in Hong Kong’s structural-steel market.

Gross profit fell 34.6% to HK$46.66 million; gross margin narrowed to 13.4% from 17.9% as the Group adopted lower-priced bids to secure contracts in a subdued construction environment.

Profit attributable to shareholders dropped 48.9% to HK$16.11 million, driving net margin down to 4.6% (FY2024: 7.9%). Basic earnings per share slipped to HK0.8 cents from HK1.7 cents. The Board will not recommend a final dividend.

Operating metrics showed mixed trends: • Cost of services decreased 7.9% to HK$301.07 million, partly offsetting revenue pressure. • Administrative expenses edged up 2.6% to HK$27.22 million, linked to higher staff and depreciation costs. • Finance costs narrowed to HK$0.40 million (-31.0% YoY) after bank borrowings were cut to HK$1.25 million (FY2024: HK$5.87 million).

Liquidity remained solid. Cash and cash equivalents rose to HK$108.71 million, supporting a net cash position; gearing fell to 2.4% (FY2024: 5.0%). Net current assets improved to HK$236.26 million.

Order-book softness persisted: the Group held 30 ongoing projects worth HK$165.32 million at 31 December 2025, down from HK$322.14 million a year earlier.

Capital expenditure was trimmed to HK$4.80 million (FY2024: HK$17.00 million). Of the HK$91.0 million net IPO proceeds raised in March 2024, HK$33.10 million earmarked for a new production facility remained unutilised as site identification continues; the completion target is December 2026.

Looking ahead, management highlights opportunities in public infrastructure and Northern Metropolis developments, while diversifying into solar panels and prefabricated building materials through newly formed subsidiaries. No material post-balance-sheet events were reported.