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CR Construction Announces Annual Results
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
|
6,066,037
5,414,578 |
5,445,560 4,703,000 |
+11.4%
+15.1% |
|
| 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.
Media OutReach
From PolyU Research to Geneva Global Debut: GOOD Vision oka³y! ™ Redefines Precision in Freeform Orthokeratology
Beyond Traditional Toric Lenses: The Future of Freeform Orthokeratology
With myopia expected to affect 50% of the world’s population by 2050, demand for effective management is high. While Ortho-K is a highly effective strategy, traditional symmetric and spherical/ toric designs often underestimate corneal shape complexity, causing lens decentration and poor visual outcomes.
The oka³y!™ freeform technology, incorporating the company’s proprietary FAST-360 and CORe Technology, surpasses traditional lens design. AI-based FAST-360 reconstructs missing corneal data for faster scans, while CORe ensures precise alignment with the visual axis, leading to 3.1 times greater stability.
Precision Myopia Correction and Control for High Astigmatism and Asymmetric Corneas
For optometrists and clinic owners, oka³y!™’s key benefit is improving workflow by automating complex mathematics, cutting chair time by 64%. This boosts myopia management capacity without extra staff or lengthy training. “As a registered optometrist in Hong Kong and a researcher in one of the world’s leading optometric institutes, I witnessed a growing gap between the number of patients seeking Ortho-K and the limited range of conventional products available to treat them,” says Dr. Kin Ho Chan, Ken, the lead inventor of oka³y!™. “By focusing on the ‘3A’: AI-guided, Astigmatism, and Asymmetry, and working alongside The Hong Kong Polytechnic University (Poly U), we have developed a design that not only delivers superior vision but also enhances safety by reducing corneal staining. We are turning a frustrating, manual trial-and-error process into a predictable one-click adjustment.”
From Niche Specialty to Global Enterprise: Scaling the Future of Eye Care
As myopia rates reach epidemic levels, GOOD Vision partners with PolyU, harnessing its research strengths and support from its startup ecosystem PolyVentures, to redefine primary eye care by transforming a niche specialty into a scalable global enterprise. By replacing manual OK lens design with oka³y!™, the company has created a technology bridging clinical complexity and scalability. This transition enables practitioners to manage myopia, high astigmatism, and asymmetrical cases precisely, removing barriers to modern refractive error management.
“By embedding and automating the complex mathematics of lens design, we provide clinicians with the tools to treat ‘difficult’ patients who were previously considered unsuitable for Ortho-K,” added Professor Chea-su Kee, Founder of GOOD Vision. “This is about elevating the global standard of care and ensuring that precision myopia management is accessible to the next generation on a global scale.”
Experience the Future of Myopia Control
GOOD Vision invites investors, distributors, and practitioners to a live demonstration of the oka³y!™ at the International Exhibition of Inventions Geneva:
- Location: PolyU Delegation Booth, Hall 2, Palexpo, CP 112, Route François-Peyrot 30, 1218 Le Grand-Saconnex, Geneva, Switzerland
- Dates: 11–15 March 2026
Hashtag: #GOODVision
The issuer is solely responsible for the content of this announcement.
About GOOD Vision Technologies Co., Limited
GOOD Vision, a Hong Kong-based startup nurtured by PolyU, is dedicated to advancing the field of corneal reshaping technologies. With a focus on innovation, efficiency, and affordability, the company develops innovative solutions to empower eye practitioners and enhance the quality of eye care worldwide.
For additional details about GOOD Vision and their innovative offerings, please visit https://www.linkedin.com/company/goodvisiontech
Central Landmark Set for Revitalization with International Expertise
HONG KONG SAR – Media OutReach Newswire – 9 March 2026 – In a vote of confidence in Hong Kong’s vibrant and enduring business environment, Nexxus Building, a landmark Grade‑A commercial property in Central’s prestigious CBD, has been acquired by a leading figure in the technology sector. Trivium Asset Management (“Trivium”), an Asian real estate investment and asset management firm, has been appointed as Nexxus Building’s Asset Manager (“AMC” or Asset Management Company), taking charge of the asset’s comprehensive management and operations.
Under new ownership, Nexxus Building is set to undergo a forward‑looking transformation integrating next‑generation technologies with world‑class professional management. The revitalization aims to redefine the building’s market positioning, enhance its tenant experience, and reinforce its status as an iconic and premier Grade‑A property in the heart of Hong Kong’s CBD.
Leveraging Trivium’s extensive expertise, the enhancement programme will incorporate smart‑building management systems and sustainability‑driven upgrades designed to meet the evolving needs of global tenants. The reimagined Nexxus Building aims to attract financial institutions, fintech platforms, and technology enterprises, reaffirming Central’s position as Asia’s dynamic financial and innovation hub.
Mr. Wilfred Ma, Managing Partner of Trivium Asset Management, said, “Trivium is honored to be entrusted with the role of Asset Manager (“AMC” or Asset Management Company) for Nexxus Building, one of Hong Kong’s most iconic commercial landmarks. Drawing on our track record in real estate investment and operations across Hong Kong and Japan, we are committed to implementing forward‑thinking strategies that enhance tenant value, optimize building performance, and unlock Nexxus Building’s full potential as a commercial anchor in the city’s core.”
Originally built in 1962 as the former headquarters of Hang Seng Bank, Nexxus Building has been a witness to Hong Kong’s rise as a global financial centre. Following a major renovation in 2008 and the addition of a direct footbridge to IFC and the Airport Express in 2020, the building continues to host multinational corporations, leading financial institutions and professional services firms, and premium retail tenants – including the iconic Hong Kong Bankers Club – reinforcing its status as one of Central’s most distinguished Grade‑A office towers.
Hashtag: #TriviumAssetManagement
The issuer is solely responsible for the content of this announcement.
About Trivium Asset Management
Founded in 2022, Trivium Asset Management is a Hong Kong‑based real estate investment and asset management firm overseeing assets valued at over US$900 million across Asia. Trivium serves institutional investors, financial institutions, and family offices through integrated investment and asset management, value‑creation strategies, and technology integration. The firm’s mission is to maximize long‑term value and promote sustainable growth for clients and communities alike.
Media OutReach
HOFA Announces the Second Edition of the Digital Art Awards, in Collaboration with Exhibition Partner PhillipsX in Hong Kong, proudly backed by Lightyear
The awards ceremony will take place on 24 March 2026, featuring the four key categories of Still Image, Moving Image, Innovation and Experiential and followed by a private sale exhibition hosted by Phillips in Hong Kong, from 25–28 March 2026.
As a highlight of Hong Kong’s spring art calendar, the awards celebrate the growing cultural significance of digital art and spotlights the visionary artists redefining visual culture through cutting-edge technologies.
Thirty two international finalists will be selected for their work pushing the boundaries of digital creativity. Each of the four category winners will receive a $10,000 USDC commission towards a new artwork.
The thirty two finalists include several prominent figures in digital and generative art, such as Erick Calderon (Snowfro) Founder of Art Blocks, Botto, Sarah Meyohas, William Mapan, Sasha Stiles and Mario Klingemann – underscoring the calibre of talent the awards are already attracting with over two hundred applications across more than fifty countries.
Refik Anadol is nominated for the Honorary Career Award for Sense of Healing, an AI Data Sculpture that emerges from Refik Anadol Studio’s long-term research into creating meditative art based on neurological data.
Finalists and winners will be selected by a panel of leading experts in art, hospitality and technology, including Irini Mirena Papadimitriou, Exhibitions Director at Diriyah Art Futures, Thomas Heyne, Co-Founder and CEO at Scorpios, Dorothy di Stefano, Art Curator and Creative Strategist at Molten Immersive Art, Danielle So, Hong Kong Head of Auction, Modern & Contemporary Art, Phillips, Sebastien Borget, Co-Founder & Global of The Sandbox, SANDchain, President of Blockchain Game Alliance and Co-Founder of Artverse, Jean-Michel Pailhon, Co-Founder and Chief Investment Officer at Grailcapital, Simonida Pavicevic, Co-Founder and Curator at HOFA, Justin Gilanyi, Founder of WhereArt.Works and Curator at SILK, and Matt Zhang, Founder and Managing Partner at Hivemind Capital.
The Digital Art Awards are proudly backed by Lightyear, a subsidiary of Hivemind Digital Group. A full-stack digital culture partner, Lightyear provides infrastructure, liquidity and market expertise, and hands-on delivery for digital ownership and engagement across physical and digital experiences. Lightyear is committed to championing artists and organizations pushing the boundaries of digital culture.
Hashtag: #HOFA #PhillipsX
The issuer is solely responsible for the content of this announcement.
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