1973, Xionggu Group established a joint venture subsidiary in Hong Kong-Xionggu Group (Hong Kong) Co., Ltd., which was renamed as "Hong Kong Construction (Holdings) Co., Ltd." in 2004.
Since Xionggu Group was established in Hong Kong, Yu Jingbo has been one of the main leaders of the organization, and Yu Jingbo has assets of several billion yuan. Although Yu Jingbo became a senior politician as the founder after the reorganization of Xionggu Group. As early as before and after Xionggu Group changed its name to Hong Kong Construction Holding Co., Ltd., it had engaged in projects. Large-scale projects such as Hong Kong New Airport, Tsing Ma Bridge and Hong Kong Reclamation Project have participated in the development of Guangzhou CITIC Plaza, Shenzhen Wang Di Tower and Hainan Yangpu Port in China. The subsidiary of Everbright Group was once one of the important shareholders of the institution.
The company is also responsible for the construction of some infrastructure projects in Hong Kong. Besides Japan, it has also participated in overseas projects. 1963, after the drought in Hong Kong, the government invested in the construction of a water conveyance system to convey Dongjiang water, and Xionggu Group participated in it. This was the first time that the group set foot in Hong Kong. Later, in the1980s, the company built the subway Tin Hau Station.
At its peak, Kumagaya Group was one of the top five contractors in Japan. But after the bubble economy burst, its profits fell. At that time, the group laid off nearly one-third of its employees.
Yu Jingbo founded Xionggu Group (Hong Kong) Co., Ltd. (now Hong Kong Construction Company) after buying the regional management right of Xionggu Group from Japanese contractors in his early years. 1996, Yu Jingbo chose to retire, but in fact, he has transferred his own shares, changed hands several times and fell into the hands of Indonesian tycoons. Now he is only the honorary chairman of Hong Kong Construction.