Tian Cheng Holdings Income Statement

Financials in millions HKD. Fiscal year is June - May.

Millions HKD. Fiscal year is Jun - May.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	May '25 May 31, 2025	May '24 May 31, 2024	May '23 May 31, 2023	May '22 May 31, 2022	May '21 May 31, 2021
Revenue	153.96	202.79	223.33	198.03	212.29	345.62
Revenue Growth (YoY)	-25.94%	-9.20%	12.78%	-6.72%	-38.58%	10.19%
Cost of Revenue	176.5	216.46	255.2	260.36	182.07	289.61
Gross Profit	-22.54	-13.67	-31.86	-62.34	30.21	56.01
Selling, General & Admin	17.02	17.92	16.47	14.45	11.71	9.69
Other Operating Expenses	-0.91	-0.05	-0.83	-0.65	-0.05	-
Operating Expenses	18.72	20.49	14.1	15.41	11.66	9.69
Operating Income	-41.26	-34.16	-45.96	-77.75	18.56	46.32
Interest Expense	-0.14	-0.18	-0.28	-0.18	-0.06	-0.21
Interest & Investment Income	0.36	0.56	0.32	0.99	0.3	0.1
Currency Exchange Gain (Loss)	0.04	0.04	0.14	-	-	-
Other Non Operating Income (Expenses)	-	-	-	-	-	-3.36
EBT Excluding Unusual Items	-41.01	-33.75	-45.78	-76.93	18.79	42.86
Gain (Loss) on Sale of Assets	-2.11	-1.11	3.15	-	-	-
Asset Writedown	-1.01	-1.01	-3.56	-12.8	-	-
Other Unusual Items	-	-	0.04	0.82	1.38	2.58
Pretax Income	-43.66	-35.87	-45.89	-88.92	20.17	45.44
Income Tax Expense	-1.36	-1.38	-1.75	-1.87	3.49	7.8
Net Income	-42.3	-34.48	-44.14	-87.05	16.68	37.64
Net Income to Common	-42.3	-34.48	-44.14	-87.05	16.68	37.64
Net Income Growth	-	-	-	-	-55.67%	33.87%
Shares Outstanding (Basic)	302	291	253	222	222	194
Shares Outstanding (Diluted)	302	291	253	222	222	194
Shares Change (YoY)	10.00%	14.71%	13.93%	-	14.87%	16.07%
EPS (Basic)	-0.14	-0.12	-0.17	-0.39	0.08	0.19
EPS (Diluted)	-0.14	-0.12	-0.17	-0.39	0.08	0.19
EPS Growth	-	-	-	-	-61.41%	15.33%
Free Cash Flow	-21.32	-13.35	-26.79	-40.83	-23.97	20.17
Free Cash Flow Per Share	-0.07	-0.05	-0.11	-0.18	-0.11	0.10
Dividend Per Share	-	-	-	-	-	0.112
Gross Margin	-14.64%	-6.74%	-14.27%	-31.48%	14.23%	16.21%
Operating Margin	-26.80%	-16.85%	-20.58%	-39.26%	8.74%	13.40%
Profit Margin	-27.47%	-17.00%	-19.76%	-43.96%	7.86%	10.89%
Free Cash Flow Margin	-13.85%	-6.58%	-12.00%	-20.62%	-11.29%	5.83%
EBITDA	-35.46	-26.79	-34.26	-64.11	28.5	53.65
EBITDA Margin	-23.03%	-13.21%	-15.34%	-32.38%	13.43%	15.52%
D&A For EBITDA	5.8	7.37	11.7	13.64	9.95	7.33
EBIT	-41.26	-34.16	-45.96	-77.75	18.56	46.32
EBIT Margin	-26.80%	-16.85%	-20.58%	-39.26%	8.74%	13.40%
Effective Tax Rate	-	-	-	-	17.30%	17.17%

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.