Tian Chang Group Holdings Ltd. (Tian Chang GP) reported a net loss attributable to shareholders of HK$33.30 million for the six months ended 30 June 2026, widening from the HK$11.59 million loss recorded a year earlier.
Revenue dropped 31.6% year-on-year to HK$173.85 million, reflecting softer demand for solar-energy system parts and lower order volumes amid customer supply-chain diversification. Gross profit fell to HK$25.50 million, with gross margin contracting to 14.7% from 19.0% a year ago due to reduced production scale and lower absorption of fixed overheads.
Segment performance • Integrated Advanced Manufacturing Solutions: revenue down 33.6% to HK$153.15 million, contributing 88.1% of group turnover; gross margin slipped to 15.1% (1H25: 20.0%). • Advanced Consumer & Industrial Products (aerosol technology): revenue declined 14.3% to HK$19.19 million; gross margin stable at 11.5%. • Medical Consumables: revenue rose 36.4% to HK$1.51 million; segment returned to a marginal profit of HK$0.09 million after inventory write-offs in the prior period.
Costs and cash flow Selling and distribution expenses fell 61.3% to HK$1.18 million, while administrative and other operating expenses were broadly flat at HK$55.64 million. Finance costs decreased to HK$0.43 million following a lower average interest rate and later drawdown of bank borrowings. Net cash from operations was HK$7.02 million; capital expenditure totaled HK$66.76 million, mainly for land-use rights and new machinery.
Financial position As at 30 June 2026, cash and cash equivalents stood at HK$125.80 million (31 December 2025: HK$132.24 million). Interest-bearing borrowings amounted to HK$57.94 million, giving a gearing ratio of 8.8% versus 1.2% at year-end 2025. Net current assets were HK$140.77 million.
Strategic developments • The group is building a new 88,000 sq m manufacturing facility in Huizhou to support semi-solid magnesium alloy injection moulding, advanced materials, and precision manufacturing; construction is slated to start in 3Q26 with phased commissioning in 1H27. • In May 2026 Tian Chang GP acquired additional plastic injection moulding machines, and in September 2026 placed a JPY1.09 billion (approximately HK$54.50 million) order for ten JSW magnesium injection moulding machines. • The company continues to diversify into smart manufacturing equipment and smart agricultural equipment, with several projects expected to enter mass production in 2H26.
Dividend The board did not declare an interim dividend.
Outlook Management cited persistent macro-economic uncertainty and evolving trade policies but reiterated plans to enhance engineering capabilities, broaden material applications, and pursue new customer segments to strengthen long-term competitiveness.