Hong Kong – TOMO Holdings (06928) released its audited results for the year ended 31 December 2025.
Financial Performance • Revenue grew 7.2% year-on-year to S$3.03 million, driven mainly by a 29.8% rise in sales and installation of passenger-vehicle electronic accessories. • Gross profit increased 30.7% to S$1.22 million, lifting gross margin to 40.2% from 32.9% a year earlier, reflecting an improved product mix and procurement efficiencies. • Net loss widened to S$3.71 million, up 41.1%, as higher selling and distribution expenses (+116.8% to S$1.05 million) and a sharp drop in other income, gains and losses (-S$0.52 million) outweighed the gross-profit improvement. • Basic and diluted loss per share came in at 0.71 Singapore cents versus 0.55 Singapore cents in 2024.
Balance Sheet and Liquidity • Cash and cash equivalents nearly doubled to S$9.81 million, mainly bolstered by a rights issue completed in October 2025 that raised net proceeds of about HK$39.5 million. • Total assets rose 44.4% to S$16.19 million, while total liabilities climbed to S$2.53 million (2024: S$0.59 million) on higher trade and other payables. • The current ratio stood at 4.3 times (2024: 9.9 times); the Group remained debt-free.
Capital Activities • A rights issue of 225 million shares on a 1-for-2 basis at HK$0.18 per share was fully completed on 30 September 2025. • As at year-end, the company had received S$1.08 million in advance related to a planned private subscription of 90 million shares at HK$0.1748 per share; completion is pending regulatory approval.
Audit Qualification The independent auditor issued a qualified opinion due to insufficient accounting records for a 49% associate, Ocean Dragon Group, leading management to write off the entire investment in prior years and derecognise it in 2025.
Operational Notes • Revenue remained geographically concentrated in Singapore. • The company recorded a fair-value gain of S$0.32 million on investment properties. • No dividends were declared for 2025.
Post-Balance-Sheet Event On 30 March 2026, the Group agreed to dispose of one Singapore investment-property unit for S$1.52 million; the transaction had not completed as of the announcement date.
Risk Highlights Management flagged continued challenges from weak consumer sentiment, the shift toward electric vehicles, and intensified competition in Singapore’s passenger-vehicle aftermarket. Cost controls, supplier collaboration and expansion of higher-margin electronic-accessory sales remain strategic priorities.
Corporate Governance The company reported full compliance with the Hong Kong Listing Rules’ Corporate Governance Code, except for the separation of chairman and CEO roles and the absence of directors’ liability insurance.
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