TechCreate Group Ltd. Reports Fiscal Year 2025 Financial and Operational Results

Key Terms

form 20-f regulatory

Form 20-F is the standardized annual disclosure that non-U.S. companies must file with the U.S. securities regulator when their shares are traded in the U.S.; it contains audited financial statements, a plain-language description of the business, management discussion, governance details and key risk factors. It matters to investors because it provides a consistent, comparable company “report card” and rulebook, helping buyers assess financial health, governance and risks before investing.

u.s. securities and exchange commission regulatory

The U.S. Securities and Exchange Commission is a government agency responsible for overseeing the stock market and protecting investors. It sets rules to ensure that companies share truthful information and that trading is fair, helping to maintain trust in the financial system. This oversight is important because it helps prevent fraud and ensures that investors can make informed decisions.

ipos financial

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pos terminal technical

A POS terminal is the device a store or service provider uses to accept payments—think of it as a modern cash register that reads cards, contactless phones or mobile wallets and records the sale. For investors, the number, type and usage of POS terminals indicate how easily merchants can take electronic payments, which affects sales volume, fee revenue for payment companies, and adoption of new payment technologies that can drive growth or change competitive dynamics.

post-quantum cryptography technical

Post-quantum cryptography is a set of new methods for scrambling data so it stays secure even if powerful quantum computers exist; think of replacing today’s locks with designs that a future high‑speed lockpicker cannot open. For investors, it matters because companies must upgrade systems, meet regulations, and protect customer and trade data—creating costs, competitive advantages, or legal and reputational risks depending on how quickly and effectively they adopt these new security standards.

regulation fair disclosure regulatory

A rule that requires companies to share important information that could move their stock with all investors at the same time, rather than telling a few people first. Think of it like a teacher announcing a major test to the whole class at once instead of whispering to select students; it helps keep the market fair, reduces the chance some traders get an unfair advantage, and gives investors more confidence that they are making decisions with the same facts as everyone else.

post-quantum encryption technical

Post-quantum encryption is a set of methods for scrambling and protecting digital information that are designed to remain secure even if powerful quantum computers become available. It matters to investors because financial records, trading systems and confidential business plans could be exposed by future quantum attacks; adopting post-quantum encryption is like changing the locks on a safe before thieves get more advanced tools, reducing legal, operational and reputational risks.

real-time engine technical

A real-time engine is software that collects, processes and delivers live market data, news and signals with almost no delay so systems and traders see updates as they happen. For investors it matters because faster, continuous information lets portfolios, trading algorithms and risk controls react immediately to price moves or announcements, similar to how a traffic control system reroutes cars instantly to avoid jams.

SINGAPORE--(BUSINESS WIRE)-- 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

 

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Investor Relations
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
TCGL@gateway-grp.com

Source: TechCreate Group Ltd.