OneC is a structural steelwork subcontractor operating in Hong Kong. Through its subsidiary, OneC Engineering, the company supplies, cuts, bends, welds, and assembles structural steel frames, trusses, beams, and columns into the load-bearing skeletons of buildings and infrastructure. This foundational work occurs at the earliest stages of construction projects. OneC operates exclusively as a subcontractor, serving general building contractors who work for Hong Kong government agencies or private developers. Most of its revenue comes from public sector projects, particularly public housing and infrastructure developments. OneC wins work through competitive fixed-price tenders, where it marks up estimated costs for materials, labor, and equipment. The company maintains an asset-light business model by leasing heavy machinery and utilizing contract workers for site labor under the supervision of its project management team. A primary challenge for the business is the high working capital requirement, as projects involve significant upfront cash outlays for steel procurement and labor before clients provide progress payments. To mitigate steel price volatility, OneC incorporates price trends into its bids. OneC's growth strategy involves expanding its project management headcount and capital base to secure larger contracts. The company aims to benefit from increased government spending on public housing and large-scale infrastructure initiatives across Hong Kong.