Tysan Holdings (00687.HK) announced that as of June 30, 2024, unaudited consolidated performance for the six months ended. During the review period, the Group recorded revenue of 1.009 billion Hong Kong dollars and the attributable surplus to ordinary shareholders of the Company was approximately 11 million Hong Kong dollars (for the period ended June 30, 2023: a loss of 41 million Hong Kong dollars), equivalent to earnings per share of ordinary shares of the Company of 0.32 Hong Kong cents (for the period ended June 30, 2023: a loss per share of 1.23 Hong Kong cents).
During the review period, the Group's revenue from pile foundation works was approximately 1.009 billion Hong Kong dollars (for the period ended June 30, 2023: 1.426 billion Hong Kong dollars), and this category recorded a surplus of approximately 19 million Hong Kong dollars (for the period ended June 30, 2023: a loss of 22 million Hong Kong dollars). The Group's major contracts include various commercial and residential development projects at No. 11273, Ki Lung Road, Mong Kok Laundry Street and Arthur Street, as well as Phase 2 of North Fanling Area 15, Phase 42 of Tung Chung Area, Container Terminal No. 2 in Kwai Chung and the Tuen Mun Area 54 and Chai Wan Cheung On Street/Sing Path Simplified Public Housing.
Looking ahead, the pile foundation works industry will continue to face intense competition due to the current economic environment. However, the Group's tender volume remains steady, and the Company has implemented cost reduction measures to maintain competitiveness. With the launch of more projects such as rental housing and affordable housing, land leveling and infrastructure projects, the public sector's tender volume remains strong, while the private sector's tender volume has relatively slowed down. New development areas (including the Northern Metropolitan Area) will initiate land and railroad property development projects to achieve the government's development goals. These projects will be developed in multiple stages and are expected to provide a stable source of business for the entire construction industry. The Company will actively participate in the tendering of these government measures to ensure its share in the pile foundation works market.