TechCreate Group Ltd. Unveils H1 FY2025 Financial and Operational Highlights

Singapore – December 26, 2025 – TechCreate Group Ltd. (NYSE American: TCGL), a specialist in payment solutions, cybersecurity, and digital transformation, today announced its financial and operational results for the first half of 2025. The company showcased a significant revenue uplift driven by its strategic shift towards higher-margin professional services.

During the six months ended June 30, 2025, TechCreate achieved total revenues of S$1.9 million (US$1.5 million), a 10.4% increase compared to the same period in the prior year. This growth was primarily fueled by new Real-Time Engine projects secured in Singapore and enhancements delivered to an existing client in Brunei. The company also saw a strong performance in its hardware solutions segment, notably the successful launch and fulfillment of the QR Soundbox Terminal Business Line for a Cambodian bank. While revenue from software licenses and maintenance saw a decrease, this was a deliberate strategic move by TechCreate to focus on more profitable service-based offerings.

The company’s operational efficiency was further underscored by a 22.7% reduction in the cost of revenue, bringing it down to S$0.6 million (US$0.4 million). This improvement is largely attributed to a decrease in sales of third-party software maintenance. Consequently, gross profit margins expanded substantially to 70.5% from 57.8% in the first half of 2024.

Operating expenses saw a marginal increase of 2.2% to S$1.3 million (US$1.0 million), with increases in general and administrative, and selling and distribution expenses, partially offset by a reduction in research and development investments.

A key financial milestone for TechCreate was the successful completion of its initial public offering (IPO) in October 2025, which raised approximately $11.73 million in gross proceeds. This listing on the NYSE American under the ticker TCGL is expected to provide the capital necessary for future growth and expansion.

Financially, TechCreate narrowed its net loss significantly to S$20,000 (US$16,000) for the first half of 2025, a marked improvement from the S$0.4 million loss recorded in the corresponding period of 2024. This was driven by the improved gross profit margins and strategic focus on service revenues. As of June 30, 2025, the company reported cash and cash equivalents of approximately S$1.3 million (US$1.0 million).

Heng Hai Lim, CEO of TechCreate, commented on the results: “Our first half fiscal 2025 performance reflects our successful pivot towards high-value professional services. The new projects in Singapore and Brunei, alongside the expansion into the Cambodian banking sector with our QR Terminal solution, demonstrate the market’s demand for our expertise. By strategically de-emphasizing lower-margin software and maintenance sales, we are positioning the company for sustainable profitability and global growth. We are very encouraged by the progress towards a stronger bottom line and are excited about the opportunities ahead.”

TechCreate Group Ltd., founded in 2015 and headquartered in Singapore, is a technology consultancy and advanced software solutions provider. The company specializes in payment solutions, cybersecurity, and digital services, offering real-time payment systems, digital banking platforms, API management, and cloud computing solutions. Its proprietary Artificial Intelligence Real-Time Engine (AI-RTE) is engineered for fast, secure, and efficient payment processing. For more information, visit [https://www.techcreate.com.sg/](https://www.techcreate.com.sg/).

**Forward-Looking Statements**

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and projections about future events and are subject to risks and uncertainties that could cause actual results to differ materially. These risks include, but are not limited to, market conditions, the successful completion of the public offering, and other factors detailed in the Company’s filings with the SEC. TechCreate Group Ltd. disclaims any obligation to update these forward-looking statements.

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**TECHCREATE GROUP LTD**
**CONDENSED CONSOLIDATED BALANCE SHEETS**
**(Unaudited)**
(In thousands of Singapore Dollars)

| | As at December 31, 2024 | As at June 30, 2025 (Unaudited) |
| :——————————————— | :——————– | :—————————- |
| | S$ | S$ | US$ |
| **ASSETS** | | | |
| **Current Assets** | | | |
| Deferred Cost | 576,562 | 312,458 | 244,911 |
| Contract Assets | 145,383 | 65,680 | 51,481 |
| Accounts and Other Receivable | 276,734 | 110,930 | 85,950 |
| Amount Due from Shareholders | 4,900 | 4,900 | 3,841 |
| Amount Due from Related Party | 11,772 | – | – |
| Cash and Cash Equivalents | 1,205,951 | 1,305,991 | 1,023,664 |
| Deferred Offering Costs | 457,718 | 711,848 | 557,962 |
| **Total Current Assets** | **2,679,020** | **2,511,807** | **1,968,809** |
| **Non-Current Assets** | | | |
| Property, Plant and Equipment, net | 7,929 | 6,438 | 5,046 |
| Right-of-Use Assets – Operating Leases | 83,288 | 62,699 | 49,145 |
| Deferred Cost | 57,400 | 96,014 | 75,258 |
| **Total Non-Current Assets** | **148,617** | **165,151** | **129,449** |
| **TOTAL ASSETS** | **2,827,637** | **2,676,958** | **2,098,258** |
| | | | |
| **LIABILITIES** | | | |
| **Current Liabilities** | | | |
| Contract Liabilities | 981,651 | 660,699 | 517,870 |
| Account and Other Payables | 100,653 | 363,183 | 284,672 |
| Amount Due to Directors | 14,907 | 3,646 | 2,858 |
| Operating Lease Liability | 39,815 | 37,890 | 29,699 |
| Income Tax Payables | 277 | 260 | 204 |
| Working Capital Loans | 151,714 | 156,155 | 122,398 |
| **Total Current Liabilities** | **1,289,017** | **1,221,833** | **957,701** |
| **Non-Current Liabilities:** | | | |
| Operating Lease Liability | 47,233 | 28,742 | 22,529 |
| Contract Liabilities | 8,247 | 49,293 | 38,636 |
| Working Capital Loans | 608,416 | 503,249 | 394,458 |
| **Total Non-Current Liabilities** | **663,896** | **581,284** | **455,623** |
| **TOTAL LIABILITIES** | **1,952,913** | **1,803,117** | **1,413,324** |
| | | | |
| **SHAREHOLDERS’ EQUITY** | | | |
| Class A Ordinary Shares, US$0.000002 par value | – | – | – |
| Class B Ordinary Shares, US$0.000002 par value | – | – | – |
| Additional Paid-in Capital | 1,351,540 | 1,351,540 | 1,059,367 |
| Accumulated Other Comprehensive Loss | (7,875) | 11,389 | 8,924 |
| Retained Earnings/ (Accumulated Losses) | (468,941) | (489,088) | (383,357) |
| **Total Shareholders’ Equity** | **874,724** | **873,841** | **684,934** |
| **TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY** | **2,827,637** | **2,676,958** | **2,098,258** |

***

**TECHCREATE GROUP LTD**
**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)**
**(Unaudited)**
(In thousands of Singapore Dollars)

| | For the six months ended June 30, 2024 | For the six months ended June 30, 2025 |
| :—————————————————————- | :————————————- | :————————————- |
| | S$ | S$ | US$ |
| **Revenue** | 1,754,439 | 1,936,539 | 1,507,856 |
| **Cost of revenue** | (740,039) | (571,893) | (445,296) |
| **Gross profit** | **1,014,400** | **1,364,646** | **1,062,560** |
| Selling and distribution expenses | (106,054) | (109,739) | (85,447) |
| Research and development expenses | (84,350) | – | – |
| General and administrative expenses | (1,090,100) | (1,199,192) | (933,836) |
| **Total operating expenses** | **(1,280,504)** | **(1,308,931)**| **(1,019,283)**|
| **Profit / (loss) from operations** | **(266,104)** | **55,715** | **43,277** |
| Other income (expenses): | | |
| Other income | 12,787 | 7,247 | 5,643 |
| Interest expense | (16,315) | (28,409) | (22,120) |
| **Total other income (expenses)** | **(3,528)** | **(21,162)** | **(16,477)** |
| **Income / (Loss) before income tax** | **(269,632)** | **34,533** | **26,800** |
| Income tax expense | (84,286) | (54,699) | (42,591) |
| **Net loss** | **(353,918)** | **(20,146)** | **(15,791)** |
| | | |
| **Other comprehensive loss, net of tax** | | |
| Currency translation differences arising from consolidation | (2,539) | 11,389 | 8,924 |
| **Net comprehensive loss** | **(356,457)** | **(8,757)** | **(6,867)** |
| | | |
| **Net loss per share attributable to ordinary shareholders** | | |
| Basic and diluted | (0.0200) | (0.0005) | (0.0004) |
| | | |
| **Weighted average number of ordinary shares used in computing net loss per share** | | |
| Basic and diluted* | 17,500,000 | 17,500,000 | 17,500,000 |

***

**TECHCREATE GROUP LTD**
**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**
**(Unaudited)**
(In thousands of Singapore Dollars)

| | For the six months ended June 30, 2024 | For the six months ended June 30, 2025 |
| :——————————————————————- | :————————————- | :————————————- |
| | S$ | S$ | US$ |
| **Cash flows from operating activities:** | | |
| Net loss | (353,919) | (20,146) | (15,791) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | | |
| Depreciation | 4,577 | 3,993 | 3,130 |
| Operating lease expenses | 9,617 | 20,976 | 16,441 |
| Working capital loan interest | 16,315 | 28,409 | 22,268 |
| Changes in operating assets and liabilities: | | |
| Deferred cost | 161,345 | 225,490 | 176,744 |
| Contract assets | 44,050 | 79,703 | 62,473 |
| Trade and other receivables | (240,353) | 165,804 | 129,960 |
| Amount due from directors | – | – | – |
| Amount due from related parties | 56,887 | 11,772 | 9,227 |
| Contract liabilities | (598,163) | (279,907) | (219,397) |
| Trade and other payables | (59,865) | 262,530 | 205,777 |
| Lease liabilities | (68,032) | (20,803) | (16,306) |
| Income tax payable | (75) | (17) | (13) |
| **Net cash generated from/ (used in) operating activities** | **(1,027,616)** | **477,804** | **(374,512)** |
| | | |
| **Cash flow from investing activities:** | | |
| Acquisition of property, plant and equipment | (2,473) | (2,502) | (1,961) |
| **Net cash used in investing activities** | **(2,473)** | **(2,502)** | **(1,961)** |
| | | |
| **Cash flows from financing activities:** | | |
| Dividend paid to equity holders | – | – | – |
| Amount due to shareholders | 8,666 | (11,261) | (8,827) |
| Repayment of working capital loans | (30,482) | (129,135) | (101,219) |
| Proceeds from working capital loans | 850,000 | – | – |
| Proceeds from issuance of shares | – | – | – |
| Deferred offering costs | – | (254,130) | (199,193) |
| **Net cash (used in)/ generated from financing activities** | **828,185** | **(394,526)** | **(309,239)** |
| **Effects of changes in foreign exchange of cash** | (382) | 19,264 | 15,100 |
| **Net (decrease)/ increase in cash and cash equivalents** | **(201,904)** | **80,776** | **63,313** |
| Cash and cash equivalents at beginning of financial year | 997,845 | 1,205,951 | 945,251 |
| **Cash and cash equivalents at June 30, 2024** | **795,559** | **1,301,991** | **1,023,664** |
| | | |
| **Supplemental cash flow information** | | |
| Income taxes paid | (25,360) | – | (18,826) |
| Withholding taxes paid | (59,001) | (54,441) | – |
| Cash paid for interest | (16,315) | (28,409) | (22,268) |
| Capital contribution subscription receivable from shareholder | 4,900 | 4,900 | 3,841 |