Hang Yick Holdings Company Limited is an investment holding company principally engaged in the provision of steel and metal engineering services and the sale of steel and metal products. Its core products and services include the design, manufacture, supply, and installation of steel and metal products such as roller shutters and metal doors primarily for construction projects in Hong Kong and China. The company serves construction companies, contractors, and engineering firms on a project-by-project basis. Its revenue is derived from contracts mainly in Hong Kong, with limited operations in the People's Republic of China. Founded in 2018 and headquartered in the Cayman Islands, Hang Yick operates through subsidiaries that deliver these specialized engineering services.
Recent major changes include the voluntary winding up and de-consolidation of its wholly-owned subsidiary HY China Investment Company Limited and its subsidiaries in 2023 due to management and operational issues, resulting in discontinuation of that business segment. In the fiscal year ended March 31, 2024, the company recorded a decrease in revenue to HK$157.2 million from HK$184.9 million the previous year, reflecting a 15% decline mainly due to reduced project scope and increased credit losses linked to industry instability. Despite the decrease, the company secured new contracts totaling HK$215 million during the year and maintains a strong order book with HK$321.7 million in contracts on hand. The company also repaid all bank borrowings by May 2023, improving its gearing ratio and maintaining a cash balance of approximately HK$63.6 million at the fiscal year-end. Hang Yick focuses on expanding its capacity through equipment acquisition and workforce growth to support future projects amid challenging market conditions in Hong Kong's construction industry.