Tat Hong Equipment Service Co., Ltd. released its audited results for the financial year ended 31 March 2026 (FY2026).

Revenue and Profitability • Group revenue fell 8.3% year-on-year to RMB581.72 million, driven by a 9.1% drop in total tonne-metres in use despite a marginal increase in average service pricing. • Gross profit declined 21.2% to RMB55.98 million, compressing the gross margin to 9.6% from 11.2% a year earlier. • The Group recorded a net loss of RMB119.84 million, a slight 0.6% improvement on the FY2025 loss of RMB120.48 million. A RMB22.51 million tax credit and an 8.1% cut in general and administrative expenses partly offset weaker gross profit. • Basic and diluted loss per share remained at RMB0.10.

Operating Expenses and Finance Costs • Cost of sales eased 6.7% to RMB525.74 million, reflecting lower labour subcontracting costs. • Research and development outlays increased 39.6% to RMB21.42 million, backing 177 registered tower-crane-related patents. • Selling and distribution expenses fell 4.6% to RMB14.75 million, while general and administrative expenses declined to RMB78.41 million. • Finance costs edged up 2.7% to RMB63.97 million, mainly due to higher interest on lease liabilities.

Balance-Sheet Highlights • Total assets stood at RMB2.89 billion, with total liabilities of RMB1.70 billion, leaving equity at RMB1.18 billion. • Net current assets were RMB80.0 million, down RMB48.0 million from a year earlier, primarily on lower trade receivables. • Borrowings decreased to RMB1.06 billion (FY2025: RMB1.12 billion). The weighted-average cost of RMB borrowings dropped to 2.9% from 4.5%. • Cash and cash equivalents were largely stable at RMB146.48 million. • The gearing ratio (total liabilities/total assets) rose slightly to 59.0% (FY2025: 58.1%) as lease liabilities increased. • Capital commitments not provided for rose to RMB61.70 million (FY2025: RMB8.58 million), largely for new equipment.

Operational Metrics and Strategy • A fleet of 1,129 tower cranes was managed during the year. • Management continued pivoting away from real-estate projects toward clean-energy sectors—thermal, nuclear and wind power—and expanded operations in the Greater Bay Area and Indonesia. • Digital platforms “TOP” and “iSmartCon” were rolled out to enhance operational efficiency.

Cash Returns • The Board proposed no final dividend for FY2026 (FY2025: nil).

Subsequent Event • On 9 April 2026, Tat Hong Equipment Service issued SGD31.25 million (approximately RMB167.47 million) of three-month, 4.4% commercial paper under its SDAX multicurrency programme; the controlling shareholder subscribed for SGD6.65 million.

Outlook Management intends to consolidate its position in clean-energy construction and overseas markets while pursuing further digitalisation and cost optimisation initiatives to enhance competitiveness.