Yau Lee Holdings Limited Issues Significant Profit Warning for FY2026
Yau Lee Holdings Limited (Stock Code: 406) has issued a profit warning, alerting shareholders and potential investors to expect a significantly larger net loss for the financial year ended 31 March 2026. This announcement was made in accordance with the Hong Kong Listing Rules and the Inside Information Provisions of the Securities and Futures Ordinance.
Key Highlights
- Expected Net Loss: The Group anticipates a net loss in the range of HK\$180 million to HK\$230 million for FY2026, compared to a net loss of HK\$101 million for FY2025.
- Significant Increase in Loss: The projected increase in net loss is mainly attributed to the absence of a one-off in-kind compensation recognized in FY2025, and losses in several construction projects.
- Absence of One-Off Compensation: In FY2025, the company recognized a one-off in-kind compensation related to the relocation of its Longhua Shenzhen factory in 2015. This compensation is not present in FY2026, contributing to the increased loss.
- Construction Project Losses: Several factors have led to losses in certain construction projects:
- Projects secured during the pandemic required increased steel usage due to client-driven design changes. Although remeasurement payments were received, they were calculated based on a lower post-pandemic fluctuation index, which did not fully offset the increased costs.
- Unbudgeted costs were incurred to accelerate work in pilot Modular Integrated Construction (MiC) projects, which faced delays due to prolonged approval processes and complex site coordination.
- Subcontractor performance issues resulted in replacement costs and delays, negatively impacting project margins.
- The fluctuation index remained weak, prompting downward adjustments to revenue in some projects.
Important Information for Shareholders
- Potential Share Price Impact: The significant widening of projected net losses may have a material impact on the company’s share price, as it signals ongoing operational and cost challenges.
- Financial Uncertainty: The results disclosed are based on preliminary unaudited management accounts and have not yet been reviewed or audited by the company’s auditors.
- Final Results Timeline: The audited results for the year ended 31 March 2026 are expected to be published in late June 2026.
- Caution Advised: Shareholders and potential investors are strongly advised to exercise caution when dealing in the shares of the company in light of the forthcoming losses and operational challenges.
Board Statement
The profit warning was issued by the Board of Directors, chaired by Wong Ip Kuen, reaffirming their commitment to transparency and timely disclosure of material information to investors.
Executive Directors: Mr. Wong Ip Kuen (Chairman), Ir. Dr. Wong Tin Cheung, Dr. Wong Rosana Wai Man, Mr. Sun Chun Wai
Independent Non-Executive Directors: Mr. Chan Bernard Charnwut, Mr. Wu King Cheong, Mr. Yeung Tak Bun, Dr. Yeung Tsun Man Eric
Disclaimer:
The information contained in this article is based on the company’s preliminary assessment and unaudited accounts. Investors should await the publication of the audited results and exercise appropriate caution when making investment decisions. This article does not constitute investment advice.
有利控股有限公司發盈警：2026財年虧損顯著擴大
有利控股有限公司（股份代號：406）發出重大盈警，提醒股東及潛在投資者，預期截至2026年3月31日止財政年度將錄得大幅度淨虧損。公告根據香港上市規則及《證券及期貨條例》內幕消息條文作出。
重點摘要
- 預期淨虧損： 預計2026財年淨虧損介乎1.8億至2.3億港元，遠高於2025財年的1.01億港元虧損。
- 虧損大幅增加： 主要因2025財年錄得一次性實物補償，而2026財年沒有此項收益，加上部分建築項目錄得虧損。
- 一次性補償： 2025財年因2015年深圳龍華廠房搬遷而獲得一次性實物補償，但2026財年沒有此收益，導致虧損擴大。
- 建築項目虧損：
- 疫情期間中標的項目因設計更改需增加鋼材用量，儘管獲得補償付款，但按疫情後較低的波動指數計算，未能完全覆蓋成本。
- 先導MiC項目為追趕因批核延誤及現場協調複雜而引致的延誤，需投入大量額外支出。
- 分包商表現不理想，導致需更換分包商並產生延誤及額外成本，影響利潤率。
- 波動指數持續疲弱，部分項目收入需向下調整。
股東須注意的重要事項
- 股價潛在影響： 虧損擴大或對公司股價構成重大壓力，反映經營及成本壓力持續。
- 財務不確定性： 公佈為初步未經審核管理賬目，尚未經核數師審核。
- 最終業績公布時間： 2026年3月31日止財年經審核業績預計將於2026年6月底公布。
- 審慎行事： 鑒於公司面臨持續虧損及營運挑戰，建議股東及潛在投資者買賣公司股份時須格外審慎。
董事會聲明
此盈警由主席黃業權先生代表董事會發出，重申致力向投資者及時透明披露重大資訊。
執行董事： 黃業權先生（主席）、黃天祥博士工程師、黃慧敏博士、孫振威先生
獨立非執行董事： 陳燦活先生、胡景昌先生、楊德斌先生、楊俊文醫生
免責聲明：
本文所載資料根據公司初步評估及未經審核賬目編撰，投資者應等待公司公布審核業績，審慎決策。本文不構成任何投資建議。
