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CR Construction Announces Annual Results

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Recorded Double-Digit Growth in Revenue and Gross Profit, Proposed a Final Dividend of HK1.8 Cents per Share

Highlights:

  • Revenue increased by 11.4% to approximately HK$6,066.0 million.
  • Revenue generated from building construction works increased by 15.1% to HK$5,414.5 million.
  • Gross profit increased by 15.4% to HK$353.2 million.
  • Basic earnings per share was HK10.74 cents. The Board recommended the payment of final dividend of HK1.8 cents per share.


Financial Highlights:

For the year ended 31 Dec 2024
HK$’000 2024 2023 Change
Revenue

  • Building Construction Works
  • Repair, Maintenance, Alteration and Addition (“RMAA”)
  • Environmental Operations
6,066,037

5,414,578
511,985
139,474

5,445,560

4,703,000
528,681
213,879

+11.4%

+15.1%
-3.2%
-34.8%

Gross profit
Gross profit margin
353,232
5.8%
305,991
5.6%
+15.4%
+0.2 ppts.
Net profit (attributable to Owners of the Company) 53,715 71,887 -25.3%
Earnings per share (HK cents) 10.74 14.38 -25.3%

HONG KONG SAR – Media OutReach Newswire – 21 March 2025 – CR Construction Group Holdings Limited (“CR Construction” or the “Company”, together with its subsidiaries, the “Group”; stock code: 1582.HK), a building contractor in Hong Kong, announced its annual results for the year ended 31 December 2024 (the “Financial Year under Review”).

During the Financial Year under Review, the revenue recorded by the Group amounted to approximately HK$6,066.0 million representing an increase of approximately 11.4% as compared to approximately HK$5,445.6 million for the year ended 31 December 2023 (the “Corresponding Period Last Year”). Net profit of the Group (attributable to Owners of the Company) during the Financial Year under Review was approximately HK$53.7 million.

During the Financial Year under Review, gross profit of the Group was approximately HK$353.2 million, representing an increase of approximately 15.4% as compared to approximately HK$306.0 million for the Corresponding Period Last Year. The Group’s gross profit margin was approximately 5.8% and 5.6% for the year ended 31 December 2024 and 2023, respectively.

During the Financial Year under Review, earnings per share of the Group was approximately HK10.74 cents (for the year ended 31 December 2023: HK14.38 cents). The Board recommended the payment of final dividend of HK1.8 cents per share.

BUSINESS REVIEW

Construction Operations
Building Construction Works

For the year ended 31 December 2024, the revenue generated from the building construction works was HK$5,414.5 million, representing an increase of approximately 15.1% as compared to approximately HK$4,703.0 million for the year ended 31 December 2023.

During the Financial Year under Review, the gross profit of building construction works was approximately HK$238.1 million, representing an increase of approximately 16.5% as compared to approximately HK$204.4 million for the Corresponding Period Last Year. The gross profit margin was approximately 4.4% for the year ended 31 December 2024.

Repair, Maintenance, Alteration and Addition (“RMAA”)

The revenue generated from the RMAA works decreased by approximately 3.2% from approximately HK$528.7 million for the year ended 31 December 2023 to approximately HK$512.0 million for the year ended 31 December 2024. The decrease was mainly attributable to existing projects were closed to completion during the Financial Year under Review.

During the Financial Year under Review, the gross profit of RMAA works was approximately HK$70.9 million, representing an increase of approximately 14.9% as compared to approximately HK$61.7 million for the Corresponding Period Last Year. The gross profit margin increased by approximately 2.1 ppts to approximately 13.8%.

Environmental Operations

The revenue generated from the environmental operations was decreased from approximately HK$213.9 million for the Corresponding Period Last Year to approximately HK$139.5 million for the Financial Year under Review. The decrease was mainly attributable to decrease in revenue from new and existing projects from construction and rehabilitation services, which was partially offset by increase from sewage and reclaimed water treatment services, during the Financial Year under Review.

During the Financial Year under Review. The gross profit of environmental operations was approximately HK$44.2 million, representing an increase of approximately 10.8% as compared to approximately HK$39.9 million for the Corresponding Period Last Year. The gross profit margin increased by approximately 13 ppts to approximately 31.7%.

CONTRACT COSTS

The Group’s contract costs primarily consisted of subcontracting costs, material costs, direct staff costs, site overheads and provision for rectification works and claims. For the year ended 31 December 2024, the contract costs recorded by the Group were approximately HK$5,712.8 million, representing an increase of approximately 11.2% compared to approximately HK$5,139.6 million for the year ended 31 December 2023.

PROSPECTS

Subsequent to 31 December 2024, the Group has been further awarded 4 new projects relating to 2 building construction works contracts with original contract sum of approximately HK$4.1 billion and 2 RMAA works contract and with original contract sum of approximately HK$22.4 million.

The Group has also placed significant emphasis on technological innovation to enhance its core competitiveness in the construction industry. The total expenditure for research and development was approximately by HK$20.1 million.

During the Financial Year under Review, the Group has improved our “Smart Site Safety System (4S)” and successfully obtained the ISO27001 certification. There are several key modules had been optimised, including adding the Hong Kong Observatory’s real-time data to the system platform, enhancing the data interface visualization, advancing RFID equipment and systems, which further enhanced the efficiency of the tower crane and mobile plant safety alert systems, better meeting the practical needs of site workers. In addition, the Group has successfully developed a Safety Tracking Watch for construction sites, which can real-time monitor the location and health status of site workers, providing comprehensive safety protection. At the same time, the company has also optimised the certificate module in the training system, adding OCR scanning and data tracking functions to improve asset management efficiency and user experiences.

The Group has also signed a memorandum of understanding (“MOU”) with the Hong Kong Centre for Construction Robotics, strengthening the collaboration in the area of innovation in the construction industry, such as smart construction technology research and development, robotics applications, talent cultivation, and commercialization. The joint efforts aim to promote intelligence and sustainability in the construction industry.

In addition, the ZCIEE has successfully developed an integrated rural domestic sewage treatment equipment, which has already passed the performance test by a third-party testing institution. The equipment has successfully achieved commercialized sales, marking an important step for the company in converting its proprietary technology into economic benefits.

The Group will enhance its technology research and development, and is committed to introducing various innovative technology tools in both construction and environmental projects to improve management efficiency, construction safety and environmental protection.

Since the sentiment of the property market is gradually stabilising, the outlook for 2025 should remain stable. Additionally, with ongoing projects in new development areas like the Northern Metropolis, they are expected to have a positive impact on our Group’s business. However, the Group will still face challenges such as talent shortages, increasing skilled labour and material costs in the construction industry.

To address these challenges, the Group will continue to enhance the utilisation of the Labour Importation Scheme for the Construction Sector and focus on identifying new and potential construction opportunities for profitable growth. In addition, leveraging our industry experience and expertise, our Group is keen to explore suitable business opportunities in the construction sector both locally and overseas.Hashtag: #CRConstruction #華營建築 #AnnualResults

The issuer is solely responsible for the content of this announcement.

CR Construction Group Holdings Limited

CR Construction Group Holdings Limited, which is carrying out construction business for over 55 years locally, is one of the leading building contractors in Hong Kong. The Group principally act as a main contractor in building construction works and RMAA works projects across public and private sectors in Hong Kong. As a main contractor, the Group is responsible for (i) overall management of the projects; (ii) formulating work programmes; (iii) engaging subcontractors and supervising their works; (iv) sourcing construction materials; (v) communication and coordination with the customers and their consultant teams; and (vi) safeguarding compliance with safety, environmental and other contractual requirements.

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“YOU BRING CHARM TO THE WORLD — The 18th Global Chinese Awards” Concludes in Beijing

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BEIJING, CHINA – Media OutReach Newswire – 14 August 2026 – The “YOU BRING CHARM TO THE WORLD — The 18th Global Chinese Awards” came to a close at the Phoenix Center in Beijing on the evening of August 12.

On the evening of August 12, the “YOU BRING CHARM TO THE WORLD — The 18th Global Chinese Awards” concluded at the Phoenix Center in Beijing. The photo shows award recipients posing with presenters.

At this year’s awards ceremony, Academician Zhang Boli of the Chinese Academy of Engineering received the Global Chinese Lifetime Achievement Award, while actress Sylvia Chang received the Global Chinese Special Tribute Award. Academician Pan Jianwei of the Chinese Academy of Sciences, Lu Chaoyang, Chair Professor at the University of Science and Technology of China, picture-book illustrator Cai Gao, Chinese freestyle skier Xu Mengtao, Gao Du, professor at the Beijing Dance Academy, and actress Xin Zhilei received the Global Chinese Award.

In his speech, Xu Wei, Chairman of the Board and CEO of Phoenix TV, said: “Each generation of Chinese people has its own responsibilities. The older generation worked hard with their roots in their homeland, while the younger generation embraces innovation and the world, becoming connectors between different cultures.” Phoenix TV will continue to serve as an on-the-ground reporter of major global events, an international storyteller of Chinese culture, and a platform builder for international exchange, enabling audiences around the world to see more of the vibrant and diverse achievements of Chinese people.

The tribute section of the ceremony opened with an immersive children’s picture-book theatrical performance based on classic works including The Story of the Peach Blossom Spring and Bao’er. Both works were created by Cai Gao, who received the Hans Christian Andersen Award for Illustration in April this year. During the ceremony, the host recalled the children’s song Cai sang at the Andersen Award ceremony, prompting her to smile and sing “The Cuckoo” once again.

Upon receiving the Global Chinese Award, Cai Gao said that the splendid and outstanding artistic heritage of China has been a source of inspiration for her work, and that she has a deep love for the culture of this land. Seeing so many Chinese people achieve remarkable accomplishments in different fields has also given her spiritual strength. Quoting the phrase, “As long as life goes on, the struggle continues,” she encouraged herself to keep creating with passion and curiosity. “Life and creation require dedication and perseverance. I am willing to devote myself to them, as I always have.”

Joining the ceremony via video link, Lu Chaoyang shared his joy and said that the honor belongs to all Chinese researchers who have climbed, generation after generation, along the long and steep road of quantum science. Looking to the future, he offered this message: “The quantum world is very small, so small that it cannot be seen with the naked eye; but China’s dreams in science and technology are immense. Through fundamental innovation, we should illuminate a farther future for human civilization.”

In her acceptance speech, Xin Zhilei said she particularly liked the phrase “YOU BRING CHARM TO THE WORLD.” “Everyone is a unique ray of light in this world. Through our efforts and down-to-earth dedication, we each make our own small contribution to the beauty of the world. As an actress, what I can do is put my heart into every role and bring to the world a little bit of the unique color that belongs to me.” Lu Yang, director of Brotherhood of Blades II: The Infernal Battlefield, also sent his congratulations via video, expressing hope for continued collaboration and for the creation of more outstanding Chinese-language stories.

“If the dance steps of a people disappear, that chapter of history will also lose its voice.” Over the past 50 years, Gao Du and his team have traveled across more than 20 provinces and autonomous regions throughout China, venturing deep into remote mountains and visiting people’s courtyards and fireside gatherings. They learned from local communities dances that had no names, no stages and sometimes not even an audience, devoting themselves to the creation of the Chenxiang series.

Gao Du said he would continue dancing, both in the classroom and on larger stages, bringing folk dance traditions rooted in the land to the world and fostering dialogue among different cultures, so that the world can see the beauty of the East.

Wu Qingcai, Deputy Editor-in-Chief of China News Service, presented Xu Mengtao with the Global Chinese Award. Xu shared that August 13, 2026, marked exactly 24 years since she began competing in the aerials discipline of snow sports. She hopes everyone can create something extraordinary through perseverance and dedication. “In the future, I will once again stand on the starting platform and set off again. See you again at the summit.”

As one of the creators of the song Tomorrow Will Be Better, Sylvia Chang said that she and fellow Chinese-language singers hope to use music to build a bridge for peaceful communication. She expressed gratitude for being able to continue pursuing a career she loves and for having a wonderful family. “I hope to share this gratitude and these blessings with everyone.”

At the ceremony, the host recounted the eight-character motto that Academician Zhang Boli has followed throughout his life: “Uphold virtue to broaden its influence; use medical skills to serve humanity.” Now approaching 80, Zhang Boli continues to see patients at a clinic every week. When patients have difficulty walking, he takes the initiative to go downstairs and see them in their cars.

Zhang Boli said that the concepts of traditional Chinese medicine—including health preservation, wellness and preventive treatment—represent one of the best practices of “proactive health management.” Looking to the future with the compassion of a physician, he said: “Let traditional Chinese medicine benefit Chinese people around the world, and let traditional Chinese medicine benefit people everywhere. The world will be healthier because of traditional Chinese medicine.”

It is reported that the “YOU BRING CHARM TO THE WORLD — Global Chinese Awards” was initiated by Phoenix Media Group in collaboration with China News Service and numerous Chinese-language media organizations in China and overseas. Together, they select and honor outstanding Chinese people who have achieved excellence and made a global impact in different fields, helping to amplify the achievements of exceptional Chinese individuals and inspire more generations to come.

Hashtag: #PhoenixTV

The issuer is solely responsible for the content of this announcement.

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NINGJI Takes Centre Stage at KLCC, Strengthening Its Position as a Benchmark for Southeast Asian Expansion Through Five Key Localization Strategies

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HONG KONG SAR – Media OutReach Newswire – 14 August 2026 – From 23 to 25 July 2026, the ninth Franchise Expo Malaysia 2026 was held at the Kuala Lumpur Convention Centre (KLCC). As one of China’s leading new-style tea brands, NINGJI was invited to participate and quickly became one of the highlights of the exhibition with its distinctive brand appeal.

During the event, Dato’ Liew Bin, President of the Malaysia Retail Chain Association (MRCA), visited the NINGJI booth. The two parties exchanged views on NINGJI’s brand development, product offerings and expansion plans in the Malaysian market.

Backed by a proven store model and a comprehensive overseas support system, NINGJI attracted strong interest from high-quality investors throughout the event. Over the three-day exhibition, the brand successfully signed agreements for 20 new stores, bringing its total number of contracted stores in Malaysia to 82. Potential partners across multiple regions also expressed interest in establishing strategic partnerships with the brand, demonstrating NINGJI’s growing appeal in international markets.

Through product tastings and immersive interactive experiences, NINGJI also strengthened its connection with local consumers. The event generated several thousand new member registrations, building a valuable base of first-party customer data for future localized marketing initiatives.

As one of China’s leading new-style tea brands, NINGJI began its global expansion at the end of 2024. To date, the brand has signed agreements for more than 150 overseas stores across Malaysia, Singapore, Australia, New Zealand, the United States, Vietnam, Thailand, the Philippines, Indonesia, Cambodia and other markets.

In Malaysia, NINGJI currently operates nine stores, with more than ten additional locations in development. Its network is steadily expanding across key commercial districts, while the brand continues to strengthen its influence throughout Southeast Asia.

Five Localization Strategies for Malaysia, Ningji’s Anchor Overseas Market

With its young and diverse population, well-established food and beverage sector, and year-round tropical climate, Malaysia provides highly favourable conditions for refreshing fresh fruit and lemon tea beverages.

Against this backdrop, NINGJI has identified Malaysia as one of its core overseas markets and is systematically advancing its localization strategy across five key areas: store network development, supply chain infrastructure, product portfolio, organizational capabilities and brand marketing.

Expanding Across Key Commercial Districts and Empowering Every Store Through Digital Intelligence

NINGJI will use Kuala Lumpur and Johor Bahru as two strategic hubs, drawing on its proven store operating experience to establish a more refined system for site evaluation, store development and project management.

The brand has built strong digital capabilities, including an end-to-end digital system covering site selection and daily operations, as well as four AI-powered agents that provide franchise partners with integrated, data-driven support.

While steadily expanding its store network and market coverage, NINGJI remains equally focused on store-level operating quality and long-term profitability. The brand aims to build a high-quality retail network that reaches a diverse range of commercial districts and serves a broad customer base.

Strengthening the Local Supply Chain with a Forward Warehouse in Malaysia

Supply chain capability is the lifeline of any new-style tea brand. In China, NINGJI operates seven warehousing centres, manages more than 2,000 mu of lemon orchards. These capabilities have laid a solid foundation for the brand’s continued expansion.

NINGJI believes that genuine localization means combining the capabilities of its headquarters with local market resources. The brand plans to establish a forward warehouse in Malaysia by the end of the year.

Once operational, the facility will enable efficient “T+1” delivery across Malaysia’s key regions, helping stores reduce the risk of stock shortages while significantly lowering the amount of capital franchise partners need to commit to inventory. It will also provide strong logistical support for the continued expansion of NINGJI’s store network.

Balancing Classics and Innovation to Create Products for Local Tastes

NINGJI’s menu centres on fresh fruit lemon beverages paired with whole-leaf tea. Its use of fresh ingredients and made-to-order hand-shaken preparation gives the brand strong cross-cultural appeal and makes its products naturally suited to international markets.

In Malaysia, NINGJI has chosen not to simply replicate its existing menu. Instead, the brand has adopted a “signature products for customer acquisition plus localized innovation” strategy.

On the one hand, proven bestsellers led by Superior Taste Award-winning YaShiXiang Lemon Tea have launched in Malaysian, on the other hand, NINGJI continues to refine its ingredient transportation and storage solutions while developing products tailored to local flavour preferences and market conditions.

In addition to its consistently popular core products, NINGJI has already launched its new pineapple series in Malaysia. The well-received Lemon Milk Series is scheduled to make its official debut in October.

Moving forward, the brand will maintain a quarterly product launch cycle and continue using localized flavours and product innovation to energize the market.

Establishing a Regional Headquarters and Building a Professional Local Team

Local talent is essential for any brand seeking to establish deep and lasting roots in an overseas market.

NINGJI has already assembled a professional team in Malaysia covering local site selection, store development and operational management, and the team continues to grow. This will further enhance the brand’s responsiveness throughout the entire store development journey, from preliminary site selection and opening preparations to daily operations.

NINGJI also plans to establish a regional headquarters in Malaysia and further strengthen its partner support system across staff training, marketing and operational management.

By working alongside local franchise partners who share its commitment to long-term growth, NINGJI aims to expand the market and create greater opportunities together.

Communicating Across Cultures Through Localized Design and Marketing

NINGJI aims to become part of the everyday lives of Malaysian consumers.

In terms of visual presentation, the brand retains its signature yellow and green colour palette while incorporating local aesthetic preferences. Through its “one store, one design” approach, NINGJI creates open and comfortable social spaces tailored to different locations and communities.

From a marketing perspective, the brand will continue to engage with local festivals and cultural trends while collaborating with Malaysian KOLs and KOCs. By connecting social media content with offline experiences, NINGJI seeks to build an emotional relationship with consumers that goes beyond the products themselves and genuinely become part of the local lifestyle.

During its Kuala Lumpur market launch, for example, NINGJI invited Elyn Leong, a Malaysian member of the girl group Gen1es, to serve as “Store Manager for a Day.” Supported by extensive social media promotion, the “Lemon Tea for the Whole City” campaign generated more than one million views and tens of thousands of user-generated interactions across Xiaohongshu, Instagram and Facebook.

Committed to Long-Term Growth, NINGJI Creates Multidimensional Cultural Dialogue Through Localization

NINGJI believes that true globalization is not about simply replicating an existing model. It is a process of deep integration, continuous learning and ongoing refinement.

The brand continues to adapt its products, operations and communications to the consumer characteristics of each market, moving beyond simply “going global” towards becoming genuinely embedded in local communities.

A representative of NINGJI’s overseas business division said:

“Malaysia has a young, diverse and dynamic consumer market and is an important part of NINGJI’s international growth strategy. In the second half of 2026, while steadily expanding our store network, we will further advance the localization of our products, operations and brand communications. We will also continue strengthening our local team and supply chain infrastructure while building long-term relationships with more partners who understand the Malaysian market.”

Looking ahead, NINGJI will continue to build on its product strength and in-store experience while exploring diverse forms of collaboration with local business organizations, content creators and industry partners.

Starting with a cup of fresh fruit lemon tea, NINGJI aims not only to become part of Malaysian consumers’ everyday lives, but also to work alongside local partners to unlock new growth opportunities in the freshly prepared beverage market.

Hashtag: #NINGJI

The issuer is solely responsible for the content of this announcement.

About NINGJI

NINGJI, a leading new-style tea brand featuring fresh-fruit lemon and original-leaf tea, dedicated to multi-category beverage R&D, digitalized management and operations.

NINGJI opened its first store in Changsha, China, on 8 February 2021. July 2021, the company completed a Series A financing round worth tens of millions of RMB, with investment from ByteDance and Shunwei Capital.

January 2022, NINGJI completed a Series A+ financing round worth hundreds of millions of RMB, led by Tencent, with existing investors also oversubscribing.

Through its distinctive contemporary design and refreshing tea beverages, NINGJI communicates a youthful, flavourful and playful brand philosophy, as well as a more creative and trend-driven approach to everyday life. This positioning has earned recognition and support from consumers across different age groups.

NINGJI began its global expansion at the end of 2024. To date, the brand has signed agreements for more than 150 overseas stores across Malaysia, Singapore, Australia, New Zealand, the United States, Vietnam, Thailand, the Philippines, Indonesia, Cambodia and other markets.

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Powering the Future – Greenworks Power Takes Center Stage at North American Dealer Meeting, Opening a New Chapter in Global Battery-Powered Tools

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MOORESVILLE, UNITED STATES – Media OutReach Newswire – 14 August 2026 – At the 2026 North American Sales & Dealer Meeting, held August 10–12, Greenworks introduced its new strategic vision, Greenworks Power, under the “Powering the Future” proposition.

Rather than a product line, Greenworks Power strategically unifies products, technologies, applications and global capabilities.

From Tools to a Broader Energy Ecosystem

Greenworks is expanding “Power” from outdoor equipment to power tools; from residential to professional and commercial markets; and from conventional products to intelligent automation, electric mobility and energy solutions. Its unified technology foundation turns product innovation into scalable platform capabilities.

“Greenworks Power marks our evolution from product innovation to a platform-based ecosystem. With clean-energy and intelligent technologies, we will expand product and application boundaries, connect more products, scenarios and users, and create long-term value for global markets,” said Yin Chen, CEO of Greenworks.

24V PowerAll Pro: Redefining Professional Platform Value

For professionals, 24V PowerAll Pro unites more than 200 power tools and lawn and garden products in one battery ecosystem. From construction and maintenance to landscaping, one platform supports more products and tasks. Performance, quality, efficiency and ecosystem breadth deliver wider applications and greater long-term value.

New Products Expand Application Boundaries

Greenworks launch the all-electric Optimus UTV, extending its new-energy power systems into utility vehicle applications, while Optimus CUBE expands battery technology into energy storage, supply and management. Meanwhile, AiMowbot combines RTK positioning with wire-free intelligent mowing for mapping, navigation and autonomous operation.

Technology and Channels Support Global Growth

The ecosystem is supported by Greenworks’ battery, motor and electronic-control expertise, plus innovations including GaN charging. Greenworks integrates global R&D, smart manufacturing, supply chain, channel and brand resources. Retail, dealer, professional, e-commerce and DTC channels connect users and partners worldwide, while consistent brand messaging and localized offerings address regional needs.

From North America to global markets, Greenworks Power strengthens channel collaboration, brand momentum and long-term growth, expanding the boundaries of “Power” to create value for users and the industry.

Greenworks Power — Powering the Future.

Hashtag: #Greenworks

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