SINGAPORE--(BUSINESS WIRE)--April 30, 2026--
TechCreate Group Ltd. (NYSE American: TCGL) ("TechCreate" or the "Company"), a technology consultancy and advanced software solutions provider specializing in payment solutions, cybersecurity, and digital services, announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission (the "SEC") on April 29, 2026.
The annual report on Form 20-F can be accessed on the SEC's website at www.sec.gov and on the Company's investor relations website at https://investor.techcreategroup.com/.
The Company will provide a hard copy of its annual report, including its complete audited consolidated financial statements, free of charge to its shareholders upon request.
Recent Operational Highlights
-- Announced intent to collaborate on one of the first quantum-safe QR
hybrid POS terminal with pQCee Pte Ltd
-- Appointed Sibil Thomas as Financial Controller and Chief Accounting
Officer
-- Rang the Opening Bell on the New York Stock Exchange
-- Completed successful initial public offering ("IPO") and sale of option
shares in October 2025, raising gross proceeds of $11.73 million, prior
to deducting underwriting discounts and other offering expenses.
TechCreate's Class A Ordinary Shares began trading on the NYSE American
on October 2025 under the ticker symbol "TCGL"
Fiscal Year 2025 Financial Results
Total Revenues increased 54% to S$4.8 million (US $3.7 million) for the fiscal year ended December 31, 2025 compared to S$3.1 million in the same period last year. The increase was primarily due to an increase in Provision of Professional Services attributable to the addition of new clients and increased activity under newly secured contracts, and an increase in Sale of Hardware Solutions stemming from the deployment of dedicated key personnel under the hardware solutions offering resulting in greater volume of completed deliverables and higher revenue recognized, offset by a decrease in Sale of Software Licenses and Maintenance Licenses and Provision of Hosting and Supporting Service revenue.
Cost of Revenue increased to S$3.0 million (US $2.3 million) for the fiscal year ended December 31, 2025 compared to S$2.2 million in the same period last year. The increase was primarily due to higher contractor service fees and higher costs associated with third-party hardware solutions, reflecting increased activity in this segment and in line with the growth in revenue during the year.
Gross Profit Margins increased to 37% for the fiscal year ended December 31, 2025 compared to 29% in the same period last year. The increase was primarily due to higher revenue during the year relative to cost of revenue, driven by increased revenue from professional services and hardware solutions, partially offset by increased contractor service fees and costs associated with third-party hardware solutions.
Total Operating Expenses increased to S$2.7 million (US $2.1 million) for the fiscal year ended December 31, 2025 compared to S$1.8 million in the same period last year. The increase was primarily due to an increase in general and administrative expenses offset by a decrease in selling and distribution expenses.
Net Loss was approximately S$1.1 million (US $0.8 million) for the fiscal year ended December 31, 2025 compared to a loss of S$1.0 million in the same period last year.
As of December 31, 2025, cash and cash equivalents were approximately S$7.4 million (US $5.7 million).
Management Commentary
TechCreate CEO Heng Hai Lim commented: "We recognize that the temporary trading halt of our shares remains top of mind for many of our shareholders. At this moment, we are continuing to work with the appropriate regulatory authorities to address and resolve this matter as soon as possible. During this period of regulatory review, we are confined and limited to what we can share regarding the investigation, including specific timing or progress updates. That said, we are working diligently to help bring this matter to a resolution. To the extent we are able to, we intend to provide additional information through the appropriate Regulation Fair Disclosure channels once the halt is lifted. Transparency remains a core component of TechCreate, and we will continue to share updates with our shareholders to the extent we are permitted to do so.
"In the meantime, we remain focused on operating business as usual. For the year, we delivered encouraging top-line growth, driven by strong client growth in our professional services business and renewed momentum in our hardware solutions offerings and capabilities. Provision of professional services and sale of hardware solutions revenue grew 106% and 100% year-over-year, respectively. More recently, we announced a collaboration with pQCee to explore incorporating a NIST-approved post-quantum cryptography algorithm into our QR Hybrid POS Terminal. As quantum-safe security becomes increasingly important to digital payments infrastructure, we aim to be early in demonstrating how post-quantum encryption can be integrated into real-time payment systems such as ours.
"Looking ahead into the rest of 2026, we remain focus on creating Innovative solutions through our Research and Development efforts in areas like Post Quantum Computing, Atomic Delivery versus Payment Use Case and the adoption of AI in both our development processes and our core Real-Time Engine Product Offerings. In addition, the Company is actively expanding our Sales and Marketing capabilities to build our sales channels and market reach."
About TechCreate Group Ltd.
TechCreate Group Ltd. is a Singapore-based payment software solutions provider. Founded in 2015, the Company delivers digital payment and infrastructure solutions to financial institutions, telecommunications, deposit insurance, and enterprises. TechCreate's offerings include real-time payment systems, digital banking platforms, API management, cybersecurity, and cloud computing. Its proprietary Artificial Intelligence Real-Time Engine (AI-RTE) is designed to enable fast, secure, and efficient payment processing. For more information, visit https://www.techcreate.com.sg/.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and TechCreate Group Ltd. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
TECHCREATE GROUP LTD.
CONSOLIDATED BALANCE SHEETS
As of December 31,
-------------------------------------------------------------
2024 2025 2025
----------- ----------- -------------
S$ S$ US$
----------- ----------- -------------
ASSETS
Current Assets
Deferred Cost 576,562 76,237 59,287
Contract Assets 145,383 - -
Accounts and Other
Receivable, net 276,734 4,442,220 3,454,561
Amount Due from
Shareholders 4,900 4,903 3,813
Amount Due from Related
Party 11,772 - -
Cash and Cash
Equivalents 1,205,951 7,370,340 5,731,659
Deferred Offering Costs 457,718 - -
--------- ---------- ----------
Total Current Assets 2,679,020 11,893,700 9,249,320
--------- ---------- ----------
Non-Current Assets
Property, Plant and
Equipment, net 7,929 5,968 4,641
Right-of-Use Assets --
Operating Leases 83,288 42,688 33,197
Deferred Cost 57,400 - -
Total Non-Current
Assets 148,617 48,656 37,838
--------- ---------- ----------
TOTAL ASSETS 2,827,637 11,942,356 9,287,158
========= ========== ==========
Commitments and
Contingencies** - - -
LIABILITIES
Current Liabilities
Contract Liabilities 981,651 94,307 73,339
Account and Other
Payables 100,653 425,500.00 330,897.00
Amount Due to Directors 14,907 - -
Operating Lease
Liability 39815 31171 24,241
Income Tax Payables 277 7,475 5,813
Working Capital Loans 151,714 62,370 48,503
--------- ---------- ----------
Total Current
Liabilities 1,289,017 620,823 482,793
--------- ---------- ----------
Non-Current
Liabilities:
Operating Lease
Liability 47,233 14,616.00 11,366.36
Contract Liabilities 8,247 0 0
Working Capital Loans 608,416 191,039 148,564
--------- ---------- ----------
Total Non-Current
Liabilities 663,896 205,655 159,931
--------- ---------- ----------
TOTAL LIABILITIES 1,952,913 826,478 642,724
========= ========== ==========
SHAREHOLDERS' EQUITY
Class A Ordinary
Shares, US$0.0002 par
value, 225,000,000
shares authorized,
14,927,250 and
17,859,750 shares
issued and outstanding
as of December 31,
2024 and 2025
respectively.* - 4,587 3,567
Class B Ordinary
Shares, US$0.0002 par
value, 25,000,000
shares authorized,
2,572,750 share issued
and outstanding as of
December 31, 2024 and
2025 respectively.* - 661 514
Additional Paid-in
Capital 1,351,540 12,624,119 9,817,341
Accumulated Other
Comprehensive
Loss/(income) (7,875) 26,363 20,502
Retained Earnings/
(Accumulated Losses) (468,941) (1,539,852) (1,197,490)
--------- ---------- ----------
Total Shareholders'
Equity 874,724 11,115,878 8,644,434
--------- ---------- ----------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY 2,827,637 11,942,356 9,287,158
========= ========== ==========
TECHCREATE GROUP LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
For the years ended December 31,
2023 2024 2025 2025
--------------------- ----------- ----------- -------------
Reclassification**
--------------------- ----------- ----------- -------------
S$ S$ S$ US$
--------------------- ----------- ----------- -------------
Revenue 2,879,645 3,104,324 4,772,866 3,711,693
Cost of revenue (1,460,778) (2,210,508) (3,019,959) (2,348,518)
-------------- --- ---------- ---------- ----------
Gross profit 1,418,867 893,816 1,752,907 1,363,175
Selling and
distribution
expenses (704,128) (786,428) (499,694) (388,595)
Research and
development
expenses (7,000) - - -
General and
administrative
expenses (754,802) (976,411) (2,237,593) (1,740,099)
-------------- --- ---------- ---------- ----------
Total operating
expenses (1,465,930) (1,762,839) (2,737,287) (2,128,694)
Loss from
operations (47,063) (869,023) (984,380) (765,519)
Other income
(expenses)
Other income, net 52,375 30,828 27,571 21,441
Interest expense - (41,952) (52,061) (40,486)
-------------- ---- ---------- ---------- ----------
Total other
income
(expenses) 52,375 (11,124) (24,490) (19,045)
Income/ (Loss)
before income
tax 5,312 (880,147) (1,008,870) (784,564)
Income tax
expense (200,107) (132,679) (62,041) (48,247)
-------------- --- ---------- ---------- ----------
Net loss (194,795) (1,012,826) (1,070,911) (832,811)
============== === ========== ========== ==========
Other
comprehensive
loss, net of
tax
Currency
translation
differences
arising from
consolidation 6,421 (5,717) 34,238 26,626
-------------- ---- ---------- ---------- ----------
Net comprehensive
loss (188,374) (1,018,543) (1,036,673) (806,185)
============== === ========== ========== ==========
Net loss per
share
attributable to
ordinary
shareholders
Basic and diluted (0.01) (0.06) (0.06) (0.05)
============== === ========== ========== ==========
Weighted
average number
of ordinary
shares used in
computing net
loss per share
Basic and
diluted* 17,500,000 17,500,000 18,110,952 18,110,952
============== ==== ========== ========== ==========
TECHCREATE GROUP LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the years ended December 31,
2023 2024 2025 2025
----------- ----------- ----------- -------------
S$ S$ S$ US$
----------- ----------- ----------- -------------
Cash flows from
operating
activities
Net loss (194,795) (1,012,826) (1,070,911) (832,810)
Adjustments to
reconcile net
loss to net cash
provided by
operating
activities
Depreciation 7,450 8,933 7,813 6,076
Operating lease
expenses 27,711 40,408 42,256 32,861
Working capital
loan interest - 41,952 52,060 40,485
Changes in
operating assets
and liabilities
Deferred cost (80,766) 437,106 435,325 338,537
Contract assets 188,760 (69,226) 350,465 272,545
Trade and other
receivables 58,179 (146,179) (4,237,718) (3,295,527)
Amount due from
directors 176,685 - - -
Amount due from
related parties (41,479) 45,115 20,010 15,561
Contract
liabilities (13,939) (553,690) (978,920) (761,272)
Trade and other
payables 55,098 (9,970) 331,216 257,575
Lease liabilities (26,231) (40,856) (42,794) (33,279)
Share based
compensation - - 55,270 42,982
Income tax payable (15,431) (27,131) 7,332 5,702
--------- ---------- ---------- ----------
Net cash generated
from/ (used in)
operating
activities 141,242 (1,286,364) (5,028,596) (3,910,565)
--------- ---------- ---------- ----------
Cash flow from
investing
activities:
Acquisition of
property, plant
and equipment (10,651) (7,848) (5,852) (4,551)
--------- ---------- ---------- ----------
Net cash used in
investing
activities (10,651) (7,848) (5,852) (4,551)
--------- ---------- ---------- ----------
Cash flows from
financing
activities:
Dividend paid to
equity holders (306,010) - - -
Amount due to
shareholders 3,719 7,964 (8,807) (6,849)
--------- ---------- ---------- ----------
Repayment of
working capital
loans - (131,822) (540,912) (420,649)
Proceeds from
working capital
loans - 850,000 - -
Proceeds from
issuance of shares
(net of issuance
cost) - 1,241,740 11,914,033 9,265,132
Deferred offering
costs - (457,718) - -
--------- ---------- ---------- ----------
Net cash (used in)/
generated from
financing
activities (302,291) 1,510,164 11,364,314 8,837,634
--------- ---------- ---------- ----------
Effects of changes
in foreign
exchange of cash 6,422 (7,847) (165,477) (128,686)
Net (decrease)/
increase in cash
and cash
equivalents (165,278) 208,105 6,164,389 4,793,832
Cash and cash
equivalents at
beginning of
financial year 1,163,124 997,846 1,205,951 937,826
--------- ---------- ---------- ----------
Cash and cash
equivalents at end
of financial year 997,846 1,205,951 7,370,340 5,731,659
========= ========== ========== ==========
Supplemental cash
flow information
Income taxes paid (22,597) (25,423) (263) (205)
Withholding taxes
paid (193,022) (134,423) (54,441) (42,337)
Cash paid for
interest - (41,952) (52,061) (40,486)
Capital
contribution
subscription
receivable from
shareholder 4,900 - - -
========= ========== ========== ==========
Supplemental
disclosure of
non-cash flow
information
Deferred IPO cost
offset with
additional paid-in
capital - - 457,718 355,951
========= ========== ========== ==========
View source version on businesswire.com: https://www.businesswire.com/news/home/20260430945236/en/
CONTACT: Investor Relations
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
TCGL@gateway-grp.com
(END) Dow Jones Newswires
April 30, 2026 09:00 ET (13:00 GMT)
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