HONG KONG, Jun 12, 2026 - (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 annual results for the year ended 31 March 2026 (“FY2026” or the “Year”).

In FY2026, the Group recorded revenue of approximately RMB 581.7 million (2025: RMB 634.6 million). Loss for the year ended 31 March 2026 amounted to RMB 119.8 million (2025: RMB 120.5 million). This decrease in loss was primarily due to the decrease in general and administrative expenses and the adjustment on deferred tax, which was offset by the decrease in gross profit.

As of 31 March 2026, the Group is managing a total of 1,129 tower cranes. The Group’s total tonne metres (TM) in use decreased to 2,852,146 for the year from 3,137,910 for the year ended 31 March 2025. As of 31 March 2026, the Group had 250 projects in progress with a total outstanding contract value of approximately RMB 668.3 million and 75 projects on hand of total expected contract value at approximately RMB 148.8 million.

During the financial year, the Group continued to navigate a challenging operating environment marked by subdued activity in the domestic construction sector and delays in project commencement. Against this backdrop, the Group proactively advanced its strategic transformation, focusing on three core business segments: clean energy (including nuclear and wind power), traditional energy (thermal power), and overseas markets, primarily Hong Kong and Indonesia.

In terms of business development, the Group continued to advance its transformation towards energy-related projects, with increasing contribution from clean energy. During the Year, the Group completed its first wind power project in Shandong Province, marking an important step in building execution capabilities in this segment. Leveraging this experience, the Group secured a second wind power project in Hebei Province in early FY2027 and continued to participate in further tenders. Meanwhile, nuclear power projects remain a core and stable business, and thermal power projects continued to provide a solid operational foundation, reflecting their ongoing role in ensuring energy security.

For overseas expansion, the Group maintained its strategic focus on Hong Kong and Indonesia. In Hong Kong, project progress during FY2026 was affected by a temporary slowdown in public sector infrastructure spending, resulting in delays in certain projects, although activities had gradually resumed entering FY2027. In Indonesia, the Group benefited from growing demand for power infrastructure, particularly driven by data centre developments, and continued to participate in projects associated with Chinese EPC contractors.

Mr. Sean Yau, CEO of Tat Hong Equipment Service Co., Ltd., said: “During the year, we responded proactively to a challenging operating environment by accelerating our strategic transformation, which is closely aligned with the structural shift in China’s energy landscape, where national ‘dual carbon’ goals and increasing policy support for clean energy are driving long-term demand for nuclear and wind power projects. Against this backdrop, we expanded into clean energy construction, including wind power, while extending our geographical footprint to the Greater Bay Area and Indonesia. These efforts have enabled us to diversify our business mix and enhance resilience, positioning the Group to capture opportunities arising from the ongoing energy transition and infrastructure investment cycle.”

Mr. Roland Ng, Chairman of Tat Hong Equipment Service Co., Ltd., said: “Guided by our core values of ‘Virtue, Safety and Excellence’, we remain committed to strengthening our technical capabilities and delivering high-quality services to our customers. During the Year, we continued to advance our technology capabilities and digitalisation initiatives, including the implementation of "TOP" and "iSmartCon" management platforms to enhance resource sharing, reducing cost and operational efficiency. Through these measures and our efforts in reinforcing our position in clean energy and overseas markets, we aim to build a more resilient business foundation and steadily progress towards our long-term development goals.”

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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