Wing Fung Group Asia Limited reported unaudited revenue of HK$131.44 million for the six months ended 30 June 2026, up 97.10% year-on-year, driven mainly by a Wong Chuk Hang project that contributed 75.30% of total sales.
Gross profit fell 84.32% to HK$0.85 million as cost of sales climbed 113.10% to HK$130.59 million, reflecting higher material prices and project delays that led to cost overruns. Gross margin narrowed sharply to 0.64% from 8.09% a year earlier.
Administrative expenses expanded 28.00% to HK$10.18 million, primarily on higher staff costs and benefits. Finance costs increased 92.00% to HK$0.62 million. The Group booked a HK$0.80 million deferred tax credit, versus a HK$0.33 million expense in the prior period.
Net loss widened to HK$9.52 million, compared with a HK$2.67 million loss in 1H25. Basic and diluted loss per share amounted to HK5.87 cents, versus HK1.64 cents previously.
Cash generated from operations reached HK$8.21 million, turning around from a HK$6.99 million outflow in 1H25. Cash and cash equivalents rose to HK$16.61 million from HK$4.08 million at year-end 2025. Net cash from financing activities totalled HK$4.35 million, while investing activities used HK$0.02 million.
Total assets stood at HK$108.58 million, up 3.60% from end-2025. Current assets were HK$96.71 million against current liabilities of HK$73.37 million, giving a current ratio of 1.32 (31 December 2025: 1.56). Interest-bearing borrowings increased to HK$21.92 million from HK$20.36 million, lifting the gearing ratio to 62.30% from 45.60%.
The Board declared no interim dividend. Management cited intense industry competition, rising costs and project delays as key challenges but noted the award of an HK$83.00 million Chai Wan contract in May 2026 and said it will maintain stringent cost controls while pursuing selective tender opportunities.
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