TOMO Holdings (Hong Kong: 06928) reported a 7.2% rise in FY 2025 revenue to S$3.03 million, driven chiefly by a 29.8% jump in passenger-vehicle electronic accessories sales and installations. The higher-margin product mix lifted gross profit 30.7% to S$1.22 million, expanding gross margin to 40.2% (2024: 32.9%).
Despite the stronger top-line and margin, the Group’s net loss deepened 41.1% year-on-year to S$3.71 million. Key pressures included: • Selling and distribution expenses more than doubling to S$1.05 million (+116.8%) on intensified marketing and travel outlays. • Other income swinging from a S$0.73 million gain to S$0.21 million, reflecting foreign-exchange losses and a smaller revaluation uplift on investment properties. • Administrative costs inching up 6.0% to S$4.09 million.
Liquidity strengthened following a HK$40.5 million rights issue completed in October 2025. Cash and cash equivalents nearly doubled to S$9.81 million, underpinning a 44.4% increase in total assets to S$16.19 million. Total liabilities rose to S$2.53 million (2024: S$0.59 million), mainly on higher payables and lease liabilities, trimming the current ratio to 4.3x (2024: 9.9x). Net assets advanced 28.7% to S$13.66 million. The Group remains debt-free.
Segment review • Passenger-vehicle electronic accessories: Revenue surged to S$2.69 million (2024: S$2.07 million), cementing its status as the primary growth engine. • Passenger-vehicle leather upholstery: Sales fell 32.8% to S$0.35 million amid softer demand for internal-combustion vehicles. • Automotive parts & motor vehicles: No revenue recorded versus S$0.24 million a year earlier.
Capital moves The rights issue lifted issued shares to 675 million and share capital to S$1.17 million. In November 2025, TOMO signed a subscription agreement to place 90 million new shares at HK$0.1748 each; S$1.08 million in subscription proceeds had been received by year-end, with completion pending regulatory approval.
Audit qualification External auditor ZSZH (HK) Fuson CPA Limited issued a qualified opinion, citing insufficient records for the previously impaired 49% stake in Ocean Dragon Group, limiting audit evidence on the associate’s results and related balances.
Outlook Management expects continued market headwinds from the transition to electric vehicles and heightened competition in Singapore’s passenger-vehicle aftermarket. Strategic priorities include cost optimisation, deeper supplier collaboration and expansion of the higher-margin electronic accessories line.
No dividend was declared for FY 2025.
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