Ten-League International Holdings Limited Reports Unaudited Financial Results for the First Six Months of Fiscal Year 2026

SINGAPORE, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Ten-League International Holdings Limited (Nasdaq: TLIH) (the “Company” or “Ten-League”), a Singapore-based provider of turnkey project solutions, today announced its unaudited financial results for the six months ended June 30, 2026.

First Six Months of Fiscal Year 2026 Financial Highlights

Mr. Jison Lim, Chief Executive Officer and Chairman of Ten-League, commented, “The first half of fiscal year 2026 demonstrated meaningful progress in reshaping our revenue mix towards engineering-led solutions and recurring rental activities amid evolving market conditions. Engineering consultancy services and rental together represented 45.4% of total revenue, compared with 18.5% in the same period last year. This shift reflects the increasing contribution from our strategic focus areas, including new energy infrastructure, automation and integrated engineering solutions. The delivery and acceptance of 30 electric prime movers (“ePM”) supported significant growth in engineering consultancy service income, while rental income continued to expand. Despite softer equipment sales, gross profit margin improved to 24.0%, demonstrating the resilience of our evolving business mix.”

Mr. Lim continued, “Looking ahead, we remain focused on advancing our strategic priorities across new energy infrastructure, automation, and engineering. We will continue to enhance our engineering capabilities and provide solutions that support customers’ operational efficiency and transition toward more sustainable equipment and infrastructure. At the same time, we remain committed to fostering strategic collaborations and strengthening our network of business partners. We believe these initiatives will position Ten-League to capture emerging opportunities as Singapore’s infrastructure and industrial sectors continue to evolve, while creating sustainable long-term value for our shareholders.”

First Six Months of Fiscal Year 2026 Unaudited Financial Results

Revenues

Total revenues were S$33.1 million (US$25.6 million) for the six months ended June 30, 2026. The revenue mix continued to shift towards engineering consultancy services and rental activities, which together contributed 45.4% of total revenue, compared with 18.5% for the same period last year. This change reflects the Company’s ongoing transition from primarily equipment sales towards a broader portfolio of engineering-led, new energy and recurring rental solutions.

Cost of Revenue

Cost of revenue was S$25.1 million (US$19.4 million) for the six months ended June 30, 2026, a decrease of 12.8% from S$28.8 million for the same period last year.

Gross Profit

Gross profit was S$8.0 million (US$6.1 million) for the six months ended June 30, 2026, a decrease of 10.1% from S$8.8 million for the same period last year.

Gross profit margin was 24.0% for the six months ended June 30, 2026, an increase of 0.5 percentage points from 23.5% for the same period last year.

Selling and Distribution Expenses

Selling and distribution expenses were S$0.4 million (US$0.3 million) for the six months ended June 30, 2026, an increase of 21.7% from S$0.3 million for the same period last year. The increase was due to increase of staff salary and related costs.

General and Administrative Expenses

General and administrative expenses were S$5.2 million (US$4.0 million) for the six months ended June 30, 2026, a decrease from S$5.7 million for the same period last year.

Total Other Gain (Loss), Net

Total net other loss was S$0.1 million (US$0.08 million) for the six months ended June 30, 2026, compared to a total net other gain of S$0.1 million for the same period last year.

Net Income

Net income was S$1.7 million (US$1.3 million) for the six months ended June 30, 2026, compared to S$2.4 million for the same period last year.

Basic and Diluted Income per Share

Basic and diluted income per share was S$0.59 (US$0.46) for the six months ended June 30, 2026, compared to S$0.86 for the same period last year.

Financial Condition

As of June 30, 2026, the Company had cash and cash equivalents of S$10.9 million (US$8.5 million), compared to S$10.7 million as of December 31, 2025.

Net cash provided by operating activities was S$10.0 million (US$7.7 million) for the six months ended June 30, 2026, compared to S$10.0 million for the same period last year.

Net cash used in investing activities was S$7.1 million (US$5.5 million) for the six months ended June 30, 2026, compared to net cash provided by investing activities of S$0.2 million for the same period last year.

Net cash used in financing activities was S$2.6 million (US$2.0 million) for the six months ended June 30, 2026, compared to S$5.7 million for the same period last year.

Exchange Rate Information

This announcement contains translations of certain Singapore dollar amounts into U.S. dollars for the convenience of the reader. Translations of amounts from Singapore dollars into U.S. dollars have been made at the exchange rate of S$1.2941 = US$1.00, which was the foreign exchange rate on June 30, 2026 as reported by the Board of Governors of the Federal Reserve System in its weekly release on July 6, 2026.

About Ten-League International Holdings Limited

Ten-League International Holdings Limited is a Singapore-based provider of turnkey project solutions. The Company’s business primarily consists of sales of heavy equipment and parts, heavy equipment rental and provision of engineering consultancy services to port, construction, civil engineering and underground foundation industries. The equipment is organized into four categories based on their functions and application scenarios: foundation equipment, hoist equipment, excavation equipment and port machinery. The Company also provides value-added engineering solutions under engineering consultancy services with the aim to address potential safety issues, enhance reliability and productivity and allow for customers to evaluate the performance of the equipment, the quality of the work completed and the progress of their projects. Ten-League’s mission is to provide high-quality equipment, value-added engineering solutions as well as maintenance and repair through continuous adaptation and application of new technologies. For more information, please visit the Company’s website: https://ir.ten-league.com.sg/.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "believe", "plan", "expect", "intend", "should", "seek", "estimate", "will", "aim" and "anticipate" or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission (“SEC”). Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Risk Factors" in the Company's Annual Reports on Form 20-F, as may be supplemented or amended by the Company's Reports of a Foreign Private Issuer on Form 6-K.

For investor and media inquiries, please contact:

Ten-League International Holdings Limited

Investor Relations Department

Email: ir@ten-league.com.sg

Ascent Investor Relations LLC

Tina Xiao

Phone: +1 646-932-7242

Email: investors@ascent-ir.com

* – denotes amount less than $’000.

** - On April 13, 2026, the Company effected a 1-for-10 reverse share spilt, whereby every ten (10) issued and outstanding ordinary shares were consolidated into one (1) ordinary share, with a corresponding increase in par value from $0.000025 to $0.00025 per share. All share and per share information presented in these financial statements have been retrospectively adjusted, where applicable, to reflect this share consolidation. The consolidation did not affect total shareholders’ equity. On May 1, 2026, 16 ordinary shares were issued for no consideration to shareholders whose fractional shares were rounded up to the nearest whole share following the reverse share split.

* - On April 13, 2026, the Company effected a 1-for-10 reverse share spilt, whereby every ten (10) issued and outstanding ordinary shares were consolidated into one (1) ordinary share, with a corresponding increase in par value from $0.000025 to $0.00025 per share. All share and per share information presented in these financial statements have been retrospectively adjusted, where applicable, to reflect this share consolidation. The consolidation did not affect total shareholders’ equity. On May 1, 2026, 16 ordinary shares were issued for no consideration to shareholders whose fractional shares were rounded up to the nearest whole share following the reverse share split.