TechCreate Group Ltd. (NYSE:TCGL) ("TechCreate" or the "Company"), a technology consultancy and advanced software solutions provider specializing in payment solutions, cybersecurity, and digital services, announced its financial and operational results for the six months ended June 30, 2025.

Recent Operational Highlights

Secured a new Real-Time Engine Project in Singapore and Real-Time Engine enhancement by an existing Brunei customer
Secured and fulfilled the QR Soundbox Terminal Business Line work for a Cambodia bank
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"

First Half 2025 Financial Results

Total Revenues increased 10.4% to S$1.9 million (US $1.5 million) for the six months ended June 30, 2025 compared to S$1.8 million in the same period last year. The increase was primarily due to an increase in Provision of Professional Services stemming from a new Real-Time Engine Project in Singapore and Real-Time Engine enhancement by existing Brunei Customer, an increase in Sale of Hardware Solutions as the Company's Cambodian team successfully started the QR Soundbox Terminal Business Line, and an increase in Provision of Hosting and Supporting Service, offset by a decrease in Sale of Software Licenses and Maintenance Licenses.

Cost of Revenue decreased 22.7% to S$0.6 million (US $0.4 million) for the six months ended June 30, 2025 compared to S$0.7 million in the same period last year. The decrease was primarily due to a decrease in sales of license maintenance for third party software.

Gross Profit Margins increased to 70.5% for the six months ended June 30, 2025 compared to 57.8% in the same period last year. The increase was primarily due to an increase in revenue from provision of professional fees, and a decrease in sales of software licenses and maintenance licenses which lowers external vendor costs.

Total Operating Expenses increased 2.2% to S$1.3 million (US $1.0 million) for the six months ended June 30, 2025 compared to S$1.3 million in the same period last year. The slight increase was primarily due to an increase in general and administrative expenses and selling and distribution expenses offset by a decrease in research and development expenses.

Net Loss was approximately S$20,000 (US $16,000) for the six months ended June 30, 2025 compared to a loss of S$0.4 million in the same period last year, primarily due to the increase in gross profit and gross profit margin.

As of June 30, 2025, cash and cash equivalents were approximately S$1.3 million (US $1.0 million).

Management Commentary

"I am pleased to announce our first half fiscal 2025 results, highlighted by our growth seen in the provision of professional services revenue," said TechCreate CEO Heng Hai Lim. "During this period, we were awarded a handful of notable deals with valued customers, including a new Real-Time Engine project in Singapore, a Real-Time Engine enhancement by an existing Brunei customer, and a new contract to provide QR Terminal to a Cambodia bank. We also continued to lower our focus on the sale of software and maintenance licenses, which are lower margin in nature. The progress made towards our bottom-line results was encouraging to see, and we look forward to continuing to pursue professional services work with new and existing customers as we grow our global presence."

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 CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

	As at December 31,			As at June 30,
	2024			2025 (Unaudited)			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

Commitments and Contingencies		-			-			-

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$0.0002 par value, 225,000,000 shares authorized, 14,927,250 shares issued and outstanding as of December 31, 2024 and June 30, 2025 respectively.*		-			-			-
Class B Ordinary Shares, US$0.0002 par value, 25,000,000 shares authorized, 2,572,750 shares issued and outstanding as of December 31, 2024 and June 30, 2025 respectively.*		-			-			-
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)

	For the six months ended June 30,
	2024			2025			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)

	For the six months ended June 30,
	2024			2025			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

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Investor Relations

John Yi and Steven Shinmachi

Gateway Group, Inc.

949-574-3860

TCGL@gateway-grp.com

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