Exhibit 99.1

ONECONSTRUCTION GROUP LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEET AS OF SEPTEMBER 30, 2024
AND
AUDITED CONSOLIDATED BALANCE SHEET AS OF MARCH 31, 2024

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

ONECONSTRUCTION GROUP LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2024 AND 2023

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

ONECONSTRUCTION GROUP LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2024 AND 2023

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

ONECONSTRUCTION GROUP LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2024 AND 2023

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

ONECONSTRUCTION GROUP LIMITED

NOTES TO THE UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1. CORPORATE INFORMATION

OneConstruction Group Limited (the “Company”) was incorporated in the Cayman Islands on June 14, 2024 under the Company Act as an exempted company with limited liability. The principal activities of the Company and its subsidiaries (collectively, the “Group”) are the provision of structural steelwork for construction projects in Hong Kong, including the installation and forming of steel structures, typically serving as the backbone of buildings and infrastructure during the initial construction stage.

2. BASIS OF PREPARATION

The unaudited interim condensed consolidated financial statements of the Group for the six months ended September 30, 2024 have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”).

The accounting policies and basis of preparation adopted in the preparation of these unaudited interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s consolidated financial statements for the year ended March 31, 2024. The Group has not early adopted any other standards, interpretation or amendments that have been issued but are not yet effective.

In the opinion of the Group’s management, the accompanying unaudited interim condensed consolidated financial statements contain all normal recurring adjustments necessary to present fairly the financial position, operating results and cash flows of the Group for each of the periods presented. The results of operations for the six months ended September 30, 2024 are not necessarily indicative of results to be expected for any other interim periods or for the year ended March 31, 2024. The condensed consolidated statement of financial position as of March 31, 2024 was derived from the audited consolidated financial statements at that date but does not include all of the disclosures required by the U.S. GAAP for annual financial statements. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Group’s audited consolidated financial statements for the year ended March 31, 2024.

3. REVENUE AND COST OF REVENUE

4. FINANCE COSTS

5. EARNINGS PER SHARE ATTRIBUTABLE TO SHAREHOLDERS

The following table sets forth the computation of basic and diluted earnings per share for the six months ended September 30, 2024 and 2023.

6. ACCOUNTS RECEIVABLES, NET

Accounts receivable, and the allowance for the expected credit losses consisted of the following:

Accounts receivable are past due when a counterparty has failed to make a payment when contractually due. Credit terms granted to customers vary from contract to contract. The credit period granted to customers is 0 to 45 days from the payment certification date, except for retention receivables.

The Group recognized allowance for expected credit losses of US$124,000 and reverse of allowance for expected credit losses of US$389,000, respectively, for the six months ended September 30, 2024 and 2023.

Reconciliation of the allowance for expected credit losses of accounts receivable:

7. CONTRACT ASSETS AND LIABILITIES

The contract assets represent the Group’s right to consideration in exchange for services that the Group has transferred to a customer, which have not been billed to the customer. As of September 30, 2024 and March 31, 2024, the loss allowance for expected credit loss was assessed to be minimal. There was no allowance recognized for contract assets as of September 30, 2024 and March 31, 2024.

The contract liabilities represent the Group’s obligation to transfer services to a customer to which the Group has received consideration (or an amount of consideration is due) from the customer.

8. PROPERTY AND EQUIPMENT

During the six months ended September 30, 2024, the Group acquired approximately US$2,000 of property and equipment but did not dispose of any property and equipment.

During the six months ended September 30, 2024, the Group recorded depreciation expenses of approximately US$2,000.

9. LEASES

Operating leases

The Group leases offices from a third party. As the lease does not provide an implicit rate, the Group used an incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Group’s lease agreement does not contain any material guarantees or restrictive covenants. The Group does not have any sublease activities. Operating leases result in the recognition of right-of-use (“ROU”) assets and lease liabilities on the balance sheet. ROU assets represent the Group’s right to use the leased asset for the lease term, and lease liabilities represent the obligation to make lease payments. The operating lease expenses were charged to administrative expenses.

A summary of supplemental information related to the Group’s leases as of September 30, 2024 and March 31, 2024 was as follows:

The maturity analysis of the annual undiscounted cash flows for the operating lease, as of September 30, 2024 and March 31, 2024 were as follows:

10. ACCOUNTS PAYABLES

Accounts payables consisted of the following:

11. ACCRUALS AND OTHER PAYABLES

Accruals and other payables consisted of the following:

Note:

12. BANK BORROWINGS

Bank borrowings was as follows as of the respective balance sheet dates:

On October 26, 2023, OneConstruction Engineering Projects Limited (“OneC Engineering”), the subsidiary of the Company, entered into a bank facility agreement with the Hongkong and Shanghai Banking Corporation Limited (“HSBC”), a commercial bank in Hong Kong, pursuant to which OneC Engineering was entitled to borrow a loan of approximately US$2,332,000 (HK18,000,000) with an interest rate at HIBOR + 1.7% to 1.8% per annum, which loan was also guaranteed by (i), a guarantee with a third party as of September 30, 2024 (March 31, 2024: a related company); and (ii) a guarantee with limited amount to HK$23,170,000, plus default interest and other costs and expenses as further set out in the guarantee from a shareholder of a third party in (i) (March 31, 2024: a related party).

Subsequent to the reporting period, the bank borrowings were fully repaid in December 2024.

13. LOAN DUE TO A SHAREHOLDER/A RELATED COMPANY

Notes:

14. COMMITMENTS AND CONTINGENCIES

A subsidiary of the Company is currently a party to a legal proceeding related to a compensation claim by a former employee in relation to injuries suffered during the course of her employment with the Group. Based on the information available as of the date of this report, the management does not consider there will be a material claim in this case. However, as the litigation is ongoing, the Group cannot determine the likelihood of this outcome and has not recorded an accrual in its financial statements. The Group continues to assess the case and will update its disclosures as necessary.

In addition to the legal proceeding disclosed above, the Group, in the ordinary course of its business, is involved in various claims, suits, investigations and legal proceedings that arise from time to time. Although the Group does not expect that the outcome in any of these legal proceedings, individually or collectively, will have a material adverse effect on its financial position or results of operations, litigation is inherently unpredictable. Therefore, the Group could be subject to judgements or enter into settlements of claims that could adversely affect its operating results or cash flows in a particular period.

15. SUBSEQUENT EVENTS

The Company evaluates subsequent events that have occurred after the balance sheet date but before the financial statements are issued. There are two types of subsequent events: (i) recognized, or those that provide additional evidence with respect to conditions that existed at the dates of the balance sheets, including the estimates inherent in the process of preparing financial statements, and (ii) non-recognized, or those that provide evidence with respect to conditions that did not exist at the date of the balance sheet but arose subsequent to that date. The Company has analyzed its operations subsequent to September 30, 2024 to the date of March 31, 2025, these unaudited interim condensed consolidated financial statements were issued, and has determined that it does not have any material events to disclose.

Exhibit 99.2

OneConstruction Group Limited Announces Interim Financial Results for the Six Monthes Ended September 30, 2024

OneConstruction Group Limited

(Incorporated in Cayman Islands with limited liabilities)

(NASDAQ: ONEG)

(March 31, 2025 – NEW YORK) – OneConstruction Group Limited (“OneConstruction Group,” “ONEG” or the “Company”), a structural steelwork contractor in Hong Kong, today announced its unaudited financial results for the six months ended September 30, 2024.

Financial Highlights

Operational Highlights

ONEG’s Recent Development

On January 2, 2025, ONEG announced the closing of its initial public offering of 1,750,000 ordinary shares at a public offering price of US$4.00 per share (the “Offering”). The aggregate gross proceeds from the Offering were $7 million, before deducting underwriting discounts and other related expenses. The net proceeds from the Offering were mainly for funding up-front costs for future projects, expanding management and technical teams, and bolstering working capital.

The Offering was conducted on a firm commitment basis. American Trust Investment Services and WestPark Capital acted as Underwriters. WestPark Capital was the book-running manager for the Offering. Hunter Taubman Fischer & Li LLC acted as U.S. securities counsel to ONEG, and Ortoli Rosenstadt LLP acted as U.S. securities counsel to the underwriters in connection with the Offering.

Outlook

Looking ahead, ONEG will remain focused on expanding its market presence, particularly in the public sector. ONEG is committed to driving operational efficiency and delivering sustainable growth in the face of ongoing macroeconomic challenges.

About the OneConstruction Group

OneConstruction Group is a structural steelwork contractor in Hong Kong. Through its subsidiaries, ONEG specializes in the procurement and installation of structural steel for a variety of construction projects in Hong Kong, including residential and commercial developments as well as infrastructure works. While much of its work serves the public sector, it also engages with private clients, delivering customized steel solutions for Hong Kong’s construction needs. For more information, please visit ONEG’s website: www.OneConstruction.com.hk.

Forward-looking Statements

All forward-looking statements, expressed or implied, in this release are based only on information currently available to us and speak only as of the date on which they are made. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this prospectus. Except as otherwise required by applicable law, we disclaim any duty to publicly update any forward-looking statement, each of which is expressly qualified by the statements in this section, to reflect events or circumstances after the date of this release. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the “Risk Factors” section of the registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). Although ONEG believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and ONEG cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in ONEG’s registration statement and other filings with the SEC. Additional factors are discussed in ONEG’s filings with the SEC, which are available for review at www.sec.gov.

For more information, please contact:

Investor Relations

Mr. Gordon Li
gli@oneconstruction.com.hk

Media Relations

Ms. Callis Lau / Mr. Gary Li / Ms. Lorraine Luk/ Mr. Himo Liu
oneg@iprogilvy.com