HONG KONG, Nov 27, 2025 - (ACN Newswire) – Tat Hong Equipment Service Co., Ltd. (“Tat Hong” or the “Company”, together with its subsidiaries, the “Group”) (Stock Code: 2153), the first foreign-owned tower crane service provider established in the PRC, has announced its interim results for the six months ended 30 September 2025 (the “Period”).

During the Period, the Group recorded revenue of approximately RMB 301.1 million (2024: RMB340.9 million). Loss attributable to equity holders of the Company for the Period amounted to RMB 55.1 million (2024: RMB36.2 million). The increase in loss was primarily due to a decline in revenue, attributable to the slower economic growth and a sluggish construction sector.

As at 30 September 2025, the Group is managing a total of 1,135 tower cranes. The Group’s total tonne metres (TM) in use decreased to 1,414,422 for the Period from 1,637,740 in the previous same period. As at 30 September 2025, the Group had 331 projects in progress with a total outstanding contract value of approximately RMB 666.3 million and 58 projects on hand of total expected contract value at approximately RMB 283.9 million.

During the six months ended 30 September 2025, the domestic economy faced continual growth pressures, which led to extended weak demand in the construction machinery industry. Concurrently, a decline in the average monthly service price of tower cranes per TM intensified the imbalance between supply and demand in the market, resulting in unprecedented fierce competition in the industry.

In response to the challenges of weak domestic demand and intensified industry competition, the Group has been proactively optimizing its business portfolio and diversifying its market presence. Strategically, on the one hand, the Group was progressively reducing the proportion of business in the domestic real estate sector while increasing exposure in clean energy fields such as thermal power, nuclear power, and wind power. Leveraging its expertise in medium-to-large tower cranes, the Group focused on expanding into nuclear island and large-scale energy projects with extended construction cycles and high technical barriers. On the other hand, the Group accelerated its global market expansion and actively built a dual-driven business model at home and abroad through a series of initiatives including the establishment of a joint venture in Indonesia and the strategic expansion into the Greater Bay Area and Hong Kong with setting up subsidiaries.

During the Period, while there are several awarded projects delayed in their commencement, the Group had continued the investment in the digitalization of the management platform and the research and development of new tower crane technical solutions. The Group believes the robust technical capabilities will continue to enable it to improve the operational efficiency and secure more projects, and the enhancement in the research and development capabilities for tower crane technical solutions will reinforce the excellent delivery in services.

Mr. Sean Yau, CEO of Tat Hong Equipment Service Co., Ltd., said: “Navigating through a complex landscape of economic pressures and a sluggish construction industry, we have proactively adjusted our strategies by expanding into clean energy projects and key overseas markets such as Indonesia. Supported by favorable national policies and signs of market recovery, the Group is well-positioned to strengthen its business presence in relevant sectors through its strategic initiatives, the effectiveness of which are expected to be gradually reflected in its performance in the near future.”

Mr. Roland Ng, Chairman of Tat Hong Equipment Service Co., Ltd., said: “In these dynamic times, our original mission continues to guide us with unwavering clarity. With our core corporate values ‘Virtue, Safety and Excellence’, we will continue to concentrate on the research and development of new tower crane technologies to equip ourselves with the most robust technical capabilities to deliver excellent services to our clients. We will continue our efforts to optimize our operation and digitalize our management platforms, so as to improve resources sharing, cost reduction and efficiency enhancement. With all the above measures, we believe we can fulfil the Group’s goal to become ‘the best construction equipment service provider’ in the industry.”

About Tat Hong Equipment Service Co., Ltd. (Stock Code: 2153)

Tat Hong Equipment Service Co., Ltd. is the first foreign-owned tower crane service provider established in the PRC. Since 2007, the Group has established as a tower crane service provider for one-stop tower crane solution services from consultation, technical design, commissioning, construction to after-sales services primarily to Chinese Special-tier and Tier-1 EPC contractors. Guided by its core values, “Virtue, Safety and Excellence”, the Group has successfully established its market position and maintained stable, reputable and loyal customer base in the construction industry in the PRC.

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