SOURCE: Ching Lee Holdings Limited

Ching Lee Holdings Limited

October 03, 2017 04:05 ET

Ching Lee (stock code: 3728) success in transfer to Main Board; Dealing in shares on the Main Board commenced on 18th September, 2017

HONG KONG, CHINA--(Marketwired - Oct 3, 2017) - Ching Lee Holdings Limited is pleased to announce the success over the transfer of its shares listing on the Main Board. The last day of dealings in the Shares on GEM (Stock code: 8318) was on Friday, 15 September 2017. Dealings in the Shares on the Main Board (Stock code: 3728) have commenced at 9:00 a.m. on Monday, 18 September 2017.

The Company has been listed on GEM since 29 March 2016. The Group provides (i) substructure building work services; (ii) superstructure building work services; and (iii) RMAA work as a main contractor in Hong Kong.

The Company believes that the Transfer of Listing on the Main Board will enhance the corporate profile of the Company and improve the trading liquidity of the Shares and recognitions by potential investors. The board is convinced that the successful of the Transfer of Listing is beneficial to the future growth and development of the Group and is in the overall interests of Ching Lee and its Shareholders.

Summary of the Group's Financial Performance

HK$'000 (audited) Year ended 31 March   Three months ended 30 June 
  2015 2016 2017 2016 2017
Revenue 377,356 475,474 579,849 136,189 191,538
Cost of revenue (328,560) (414,382) (504,285) (119,719) (170,192)
Gross profit 48,796 61,092 75,564 16,470 21,346
Other income and gains 830 12,644 183 12 14
Administrative and other operating expenses (25,113) (45,861) (43,891) (8,607) (12,297)
Finance costs (1,700) (1,605) (712) (106) (546)
Profit before income tax 22,813 26,270 31,144 7,769 8,517
Income tax (4,335) (5,154) (5,693) (1,324) (1,522)
Profit and total comprehensive Income for the year 18,478 21,116 25,451 6,445 6,995
Earnings per share:          
  Basic (HK cents) 2.31 2.63 2.55 0.64 0.70
  Diluted (HK cents) 2.31 2.63 2.55 0.64 0.70

Ching Lee gross profit increased by 23.7% from HKD61.1 million to HKD75.6 million YOY for the year ended 31 March 2017. The profit and total comprehensive income for the year ended 31 March 2017 amounted to HKD25.5 million from HKD21.1 million YOY, the upsurge was mainly attribute to the increase in gross profit from superstructure building work services and RMAA works services segments.

About the company
Ching Lee Holdings Limited (3728.hk) is a main contractor in Hong Kong with over 17 years of experience undertaking projects in both public and private sectors. Our major business sectors include substructure building works services, superstructure building work services and RMAA works services.

Contact Information