Company Overview - Kingstone Holdings Group Limited is a subcontractor in the construction industry, primarily providing formwork services to both public and private institutions in Hong Kong [2] - The company has over 25 years of history in the construction industry, initially focusing on structural steel-related works before shifting its focus to formwork since 1998 [2] - Kingstone's clients include major contractors in the Hong Kong construction sector, with project owners from both the private and public sectors, including government and statutory bodies [2] Financial Performance - As of September 30, 2024, Kingstone Holdings reported total revenue of 93.1522 million HKD, a year-on-year decrease of 59.42% [1] - The company recorded a net profit attributable to shareholders of -56.397 million HKD, representing a year-on-year decline of 2512.32% [1] - The gross profit margin stood at -26.76%, with a debt-to-asset ratio of 31.39% [1] Market Performance - On May 7, the Hang Seng Index rose by 0.13%, closing at 22,691.88 points, while Kingstone Holdings' stock price increased by 22.41% to 0.355 HKD per share, with a trading volume of 6.705 million shares and a turnover of 2.1778 million HKD [1] - Over the past month, Kingstone Holdings has seen a cumulative increase of 130.16%, and a year-to-date increase of 308.45%, outperforming the Hang Seng Index by 12.97% [1] Industry Valuation - The average price-to-earnings (P/E) ratio for the construction industry (TTM) is 7.42 times, with a median of 1.58 times [1] - Kingstone Holdings has a P/E ratio of -3.14 times, ranking 174th in the industry [1] - Comparatively, other companies in the industry have P/E ratios such as Pujiang International at 1.01 times, China Pipe Industry at 1.53 times, and others ranging from 1.54 to 1.58 times [1]