Kin Shing Holdings Limited (1630) reported revenue of approximately HK$366.6 million for the six months ended 30 September 2025, down from HK$432.1 million a year earlier. The decline was partly attributed to fewer large-scale formwork works projects at peak construction levels compared to the same period in 2024.

Gross profit rose to about HK$5.5 million, an increase from HK$1.5 million in the prior period. The higher gross profit mainly reflected lower direct costs on certain large-scale projects in their final construction stages. However, profit attributable to owners of the company dropped to around HK$0.8 million, representing a decrease of about 91.6% compared to the HK$9.5 million posted a year ago. The management attributed this decline primarily to a rise in impairment losses under the expected credit loss model.

During the reporting period, the group handled 37 formwork projects and remained focused on the Hong Kong market. Public-sector contracts contributed HK$155.5 million, representing approximately 42.4% of total revenue. The group continued to invest in financial instruments, with its portfolio including shares in Hong Kong Exchanges and Clearing, China Construction Bank, China Mobile, BOC Hong Kong, CLP Holdings, Swire Properties, New World Development, Ping An Insurance, and HKT Trust and HKT Limited.

As at 30 September 2025, the group reported cash and cash equivalents of about HK$92.4 million, while total liabilities stood at HK$299.7 million. The gearing ratio, derived from total debts divided by total equity, was around 145%. The board did not recommend any interim dividend for the period.

Management noted that new contract tenders during the period totaled HK$290.6 million and that market competition remains keen. The group plans to strengthen cost-control measures, enhance project management efficiency, and further explore opportunities in the public formwork market.