Tag: ching

HONG KONG, Jan 9, 2023 - (ACN Newswire via SEAPRWire.com) - Ching Lee Holdings Limited "Ching Lee" or "The Group" (stock code 3728.HK) recorded over 20% increase in gross profit in the latest interim results ended 30 September 2022 benefiting from the total reinforcement of cost control. The Group has successfully reversed to great profits from the adverse. Ching Lee has always taken a prudent attitude toward the Group's operations, actively strengthening project cost control and saving administrative and operating expenses. Even during the difficult epidemic period, Ching Lee strives to fight against adversity and insists on bringing benefits to shareholders. This good result was driven by the concerted efforts of all employees.The Group has awarded several high-quality superstructure construction projects since last year covering traditional luxury residential areas, including Prince Edward Road West in Homantin, Happy Valley, Central, and Mid-Levels on Hong Kong Island, etc. The accumulated unfinished contract value exceeds HK$1.9 billion. The value-added business is expected to have a considerable profit. Two large-scale projects in Stanley and Tsim Sha Tsui were completed in 2022 and other projects will be completed continuously.The Group Chairman Mr. Ng Choi Wah, said: "As a general contractor in Hong Kong, the Group will continue to focus on its core business and contribute to the construction industry in Hong Kong. We are optimistic about the overall market demand. In addition, Hong Kong has relaxed the epidemic prevention policy. It is expected that another new scene will appear in the market."Media enquiries: New Smile Limited Strategic IR & PR ConsultancyTel: +852 2126 7076Jenny Lai jenny.lai@newsmilehk.comJenny Cheung jenny.cheung@newsmilehk.comRichard Wong richard.wong@newsmilehk.comChing Lee Holdings Limited "Ching Lee" or "The Group"Ching Lee Holdings Limited, a limited liability company incorporated under the laws of the Cayman Islands, is a contractor in Hong Kong with over 23 years of experience in public and private sectors. The principal activities of Ching Lee Holdings and its subsidiaries are the provision of construction and consultancy works and project management services in Hong Kong, engaged in providing substructure building works services, superstructure building works services, and repair, maintenance, alteration and addition (RMAA) works services. Ching Lee Holdings Limited was transferred from GEM board to the main board in HKEx on September 18, 2017 with stock code 3728.hk. Company website: http://www.chingleeholdings.com Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)

HONG KONG, Aug 17, 2022 - (ACN Newswire via SEAPRWire.com) - Ching Lee Holdings Limited ("Ching Lee" or "The Group"(1), stock code 3728.HK) signed about ten contracts for construction projects with various property developers at the end of June this year. The accumulated unfinished contract values of approximately HK$1.54 billion marked a historic record of doubling from year on year and compared to the general period before the outbreak of COVID-19 in 2018, it was a 50% increase. These are unprecedented results in history.Thanks to the confidence of major Hong Kong property developers in the properties industry and their support of the Group, Ching Lee has been awarded several high-quality superstructure construction projects, covering traditional luxury residential areas such as Prince Edward Road West in Ho Man Tin, the Happy Valley district, the Central district and the mid-levels of Hong Kong Island, etc. Highlights of the reconstruction include developing a 25-storey boutique-style building for 69 residential units, as well as participating in the renovation of the hotel and rebuilding it into a residence for rental purposes. In addition, the Group has added superstructure, substructure, and RMAA(2) projects in Soy Street in Mongkok, Ma Tau Wai Road in Hunghom, Cheung Sha Wan Road, and To Kwa Wan in response to the Hong Kong Government's Urban Renewal Plan.Since the outbreak of COVID-19 for more than two years, all walks of business have been struggling. The operation of the construction industry has been adversely affected by the problems of delaying transportation and the price rise of raw materials. Despite the difficulties, Ching Lee did not retreat, but also swam upstream and achieved a great year. In recent years, Ching Lee has seized opportunities to invest in property markets including the success of the investment in the AVA228 residential project of Sham Shui Po in 2018 and the acquisition of the commercial and residential project in To Kwa Wan this year with invested capital of HK$24 million, accounting for 20% of the total investment. Ching Lee has gradually and successfully transitioned from being a contractor to a developer through its experience and expertise in the construction industry.Commented by the Group Chairman Mr. Ng Choi Wah who is a developer and a contractor, "I am confident to be able to run the whole process in the property industry from construction to sales." Mr. Ng also expressed optimism about the overall market demand and the current business situation. He also expected the operation to continue performing well in the coming year.Media enquiries: New Smile Limited Strategic IR & PR ConsultancyTel: +852 2126 7076Jenny Lai jenny.lai@newsmilehk.comJenny Cheung jenny.cheung@newsmilehk.comRichard Wong richard.wong@newsmilehk.comNotes to editors: (1). Ching Lee Holdings Limited ("Ching Lee" or "The Group")Ching Lee Holdings Limited, a limited liability company incorporated under the laws of the Cayman Islands, is a contractor in Hong Kong with over 23 years of experience in public and private sectors. The principal activities of Ching Lee Holdings and its subsidiaries are the provision of construction and consultancy works and project management services in Hong Kong, engaged in providing substructure building works services, superstructure building works services, and repair, maintenance, alteration and addition (RMAA) works services. Ching Lee Holdings Limited was transferred from GEM board to the main board in HKEx on 18 September, 2017 with stock code 3728.hk. Company website: http://www.chingleeholdings.com(2). RMAARMAA services work for existing structures. The scope of RMAA works consists of improvement, fitting-out works, renovation works, restoration works and external works. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)