CROSSTEC (3893) Announces 2025/2026 Interim Results, Records HK$129.00 Million Net Loss

Bulletin Express02-27

CROSSTEC Group Holdings Limited (stock code: 3893) released its interim results for the six months ended 31 December 2025. The company reported revenue of HK$33.30 million, marking a 27.00% drop compared to the same period last year. Gross profit came in at HK$3.80 million, an 87.80% increase from a year earlier, while the net loss widened to HK$129.00 million.

Management attributed the revenue decline partly to the substantial completion of several large projects in Hong Kong and the PRC in the previous year. At the same time, the rise in gross profit was linked to an increased contribution from Australian projects, which carried relatively higher margins.

During the period, the company issued convertible bonds totaling HK$95.50 million in principal amounts, resulting in a one-off loss of HK$119.80 million recognized upon issuance. Another highlight was the negative equity position, with a capital deficiency of HK$52.74 million as of 31 December 2025.

No interim dividend was declared. Subsequently, after the reporting period, HK$18.70 million worth of convertible bonds in principal amounts were converted into 170.00 million ordinary shares at HK$0.11 each, as disclosed in multiple announcements dated January and February 2026.

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