TechCreate Touts Growth Amidst Unresolved Trading Suspension

SINGAPORE – April 30, 2026 – TechCreate Group Ltd. (NYSE American: TCGL) presented a narrative of stark contrasts this week, reporting robust financial growth and forward-looking technological strides for its 2025 fiscal year, all while operating under the shadow of a prolonged and unresolved trading halt on the NYSE American exchange.

The Singapore-based payment solutions provider filed its annual report on April 29, highlighting a 54% surge in total revenues. However, the positive financial report was accompanied by a direct acknowledgment from CEO Heng Hai Lim regarding the trading suspension that has frozen the company's stock since early February 2026, a situation he called "top of mind for many of our shareholders."

The company finds itself in a paradoxical position: celebrating a successful IPO and strong operational performance while simultaneously navigating a serious regulatory investigation that has left its public market status in limbo.

A Year of Strong Top-Line Growth

According to its Form 20-F filing with the U.S. Securities and Exchange Commission, TechCreate’s total revenues climbed to S$4.8 million (US$3.7 million) for the year ended December 31, 2025, a significant 54% increase from the S$3.1 million reported in the previous year. This growth rate substantially outpaces the 2024 fintech industry average of 21%.

The revenue jump was primarily fueled by a 106% year-over-year increase in its professional services division, attributed to new client acquisitions, and a 100% increase in hardware solutions sales. This performance also led to a notable improvement in gross profit margins, which rose to 37% in 2025 from 29% in 2024, suggesting increased efficiency in its core operations.

Despite the impressive top-line growth, profitability remains elusive. The company posted a net loss of approximately S$1.1 million (US$0.8 million), a slight increase from the S$1.0 million loss in 2024. This was driven by a substantial rise in operating expenses, particularly in general and administrative costs, which grew to S$2.7 million from S$1.8 million the prior year. The company's cash position remains strong, with cash and cash equivalents of S$7.4 million (US$5.7 million) at year-end, bolstered by the proceeds from its October 2025 initial public offering which raised gross proceeds of $11.73 million.

The Elephant in the Room: A Prolonged Trading Halt

The encouraging financial results are overshadowed by the company's current regulatory predicament. Trading of TCGL shares was halted by the NYSE American in early February 2026 and has not resumed. This followed a period of extreme volatility where the stock, which had an IPO price of $4.00 in October 2025, skyrocketed by over 1900% to an intra-day high of $172.84 in late January 2026.

Research indicates the U.S. Securities and Exchange Commission (SEC) issued a temporary, one-day suspension of trading on February 2, 2026, citing potential stock manipulation. The SEC's order pointed to recommendations made on social media platforms encouraging the purchase of TCGL shares, which it believed were intended to artificially inflate the stock's price and volume. While the SEC's initial suspension was brief, the NYSE American's halt has remained in effect pending its own review.

In his management commentary, CEO Heng Hai Lim directly addressed the issue, though his hands were tied on providing specifics. “We recognize that the temporary trading halt of our shares remains top of mind for many of our shareholders,” he stated. “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.”

This lack of transparency, while a standard part of regulatory proceedings, leaves investors in a difficult position, unable to trade their shares and uncertain about the company's future on the public market.

A Leap into Quantum-Safe Payments

While grappling with the trading halt, TechCreate's management insists it is “business as usual.” The company is pushing forward with strategic initiatives, most notably its recently announced collaboration with pQCee Pte Ltd, a Singaporean deep-tech startup specializing in quantum cybersecurity.

The partnership aims to develop one of the first QR hybrid Point-of-Sale (POS) terminals that is “quantum-safe.” This initiative addresses a looming threat in cybersecurity: the potential for future quantum computers to break the encryption standards that currently protect virtually all digital data, including financial transactions. The “Harvest Now, Decrypt Later” threat, where bad actors steal encrypted data today to decrypt it with future quantum computers, is a growing concern for the financial industry.

By exploring the integration of post-quantum cryptography (PQC) algorithms, which were recently standardized by the U.S. National Institute of Standards and Technology (NIST), TechCreate aims to future-proof its payment systems. “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,” Lim commented.

Navigating the Path Forward

Looking ahead, TechCreate's leadership is attempting to focus the narrative on innovation and expansion. The company plans to continue its research and development efforts in areas beyond quantum computing, including exploring advanced “Atomic Delivery versus Payment” use cases and further integrating artificial intelligence into its core payment engine.

Simultaneously, the company stated it is “actively expanding our Sales and Marketing capabilities to build our sales channels and market reach.” For TechCreate, the path forward is a dual challenge: it must not only execute on its ambitious technological and commercial goals but also successfully navigate the regulatory labyrinth to resolve its trading halt and restore confidence in its position as a publicly traded entity.