Financial Statements and Related Announcement: Full Year

9/26/25, 5:22 PM Financial Statements and Related Announcement::Full Yearly Results

FINANCIAL STATEMENTS AND RELATED ANNOUNCEMENT::FULL YEARLY RESULTS

Issuer & Securities

Issuer/ Manager

SUNRIGHT LIMITED

Securities

SUNRIGHT LTD - SG1B17008288 - S71

Stapled Security

No

Announcement Details

Announcement Title

Financial Statements and Related Announcement

Date &Time of Broadcast

26-Sep-2025 17:20:46

Status

New

Announcement Sub Title

Full Yearly Results

Announcement Reference

SG250926OTHRJ82H

Submitted By (Co./ Ind. Name)

Christina Foong

Designation

Company Secretarial Executive

Effective Date and Time of the event

26/09/2025 17:20:00

Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)

Please refer to the attached files for the above announcement. Additional Details

For Financial Period Ended

31/07/2025

Attachments

SR_FY2025_Results_Annt.pdf SR_FY2025_Press_Release.pdf

Total size =591K MB

https://links.sgx.com/1.0.0/corporate-announcements/Q3N0HT9AWGJ2HUL7/d52f4a81bafa495db2e78cc1d292a5117c46c67457bb922a4f31a45a… 1/1

(Company Reg. No. 197800523M)

Condensed Interim Financial Statements

For the Second Half Year and Full Year ended 31 July 2025

Table of Contents

1. Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income 3

2. Condensed Interim Statements of Financial Position 4

3. Condensed Interim Statements of Changes in Equity 5

4. Condensed Interim Consolidated Cash Flow Statement 6

5. Notes to the Condensed Interim Financial Statements 8

6. Other information required by Listing Rule Appendix 7.2 18

1. Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income

   The Group

   		2nd Half Year ended	2nd Half Year ended		Full Year ended	Full Year ended
   		31 July	31 July Increase/		31 July	31 July	Increase/
   		2025	2024 (decrease)		2025	2024	(decrease)
   	Note	$'000	$'000 %		$'000	$'000	%
   Revenue	4	38,104	39,527 (4%)		72,982	82,035	(11%)
   Other items of income:
   Interest income		1,214	1,310 (7%)		2,582	2,641	(2%)
   Dividend income		78	88 (11%)		141	128	10%
   Other income		1,097	9,800 (89%)		1,731	10,772	(84%)
   Items of expenses:
   Raw materials and consumables used		(6,177)	(5,128) 20%		(10,860)	(12,541)	(13%)
   Changes in inventories of finished goods and		24	(841) NM		435	(805)	NM
   work-in-progress
   Employee benefits expense		(15,930)	(18,303) (13%)		(33,468)	(37,201)	(10%)
   Depreciation of property, plant and equipment		(7,647)	(7,485) 2%		(15,123)	(15,143)	(0%)
   Finance costs		(478)	(717) (33%)		(1,058)	(1,405)	(25%)
   Other expenses		(12,343)	(12,729) (3%)		(24,269)	(25,145)	(3%)
   (Loss)/profit before tax	6	(2,058)	5,522 NM		(6,907)	3,336	NM
   Income tax expense	8	(469)	(650) (28%)		(198)	(1,076)	(82%)
   (Loss)/profit, net of tax		(2,527)	4,872 NM		(7,105)	2,260	NM
   Other comprehensive income:
   Item that will not be reclassified to profit or loss
   Remeasurement loss arising from net
   defined benefit liabilities, net of tax		(24)	(64) (63%)		(24)	(23)	4%

   Item that may be reclassified subsequently to profit or loss

   (425)	169	NM		(430)	169	NM
   742	2,451	(70%)		3,482	(1,398)	NM
   293	2,556	(89%)		3,028	(1,252)	NM
   (2,234)	7,428	NM		(4,077)	1,008	NM
   (2,425)	5,000	NM		(5,827)	2,232	NM
   (102)	(128)	(20%)		(1,278)	28	NM
   (2,527)	4,872	NM		(7,105)	2,260	NM
   (2,299)	6,232	NM		(4,639)	1,601	NM
   65	1,196	(95%)		562	(593)	NM
   (2,234)	7,428	NM		(4,077)	1,008	NM
   (2.0)	4.1	NM		(4.7)	1.8	NM

   Foreign currency translation differences reclassified to profit or loss upon liquidation and derecognition of subsidiaries

   Foreign currency translation gain/(loss)

   Other comprehensive income/(loss) for the year, net of tax

   Total comprehensive (loss)/income for the year

   (Loss)/profit attributable to:

   Owners of the Company Non-controlling interests

   Total comprehensive (loss)/income attributable to:

   Owners of the Company Non-controlling interests

   (Loss)/earnings per share attributable to owners of the Company (cents)

   - Basic

   NM : Not meaningful

2. Condensed Interim Statements of Financial Position The Group The Company

   		31 July 2025	31 July 2024	31 July 2025	31 July 2024
   	Note	$'000	$'000	$'000	$'000
   ASSETS
   Non-current assets
   Property, plant and equipment	11	43,946	51,345	65	107
   Investment in subsidiaries		-	-	5,578	7,549
   Deferred tax assets		1,817	1,785	-	-
   Other receivables Loans to a subsidiary		362 -	512 -	- 178	- 411
   Total non-current assets		46,125	53,642	5,821	8,067
   Current assets
   Investment securities		3,680	4,559	444	382
   Inventories		1,735	1,044	-	-
   Prepayments		578	641	126	118
   Tax recoverables		1,726	1,627	-	-
   Derivatives		-	30	-	-
   Trade and other receivables		20,576	15,535	10,020	3,285
   Loans to a subsidiary		-	-	233	233
   Cash and short-term deposits		83,964	95,081	18,131	19,775
   112,259 118,517 28,954					23,793
   Assets held for sale		535	-	-	-
   Total current assets		112,794	118,517	28,954	23,793
   Total assets		158,919	172,159	34,775	31,860
   EQUITY AND LIABILITIES
   Equity
   Share capital	13	35,727	35,727	35,727	35,727
   Retained earnings/(accumulated losses)		33,846	31,279	(7,079)	(7,411)
   Other reserves		(337)	6,869	155	155
   Total equity attributable to
   owners of the Company 69,236			73,875	28,803	28,471
   Non-controlling interests 53,392			53,334	-	-
   Total equity 122,628			127,209	28,803	28,471
   Liabilities
   Non-current liabilities
   Loans and borrowings	12	3,076	11,502	7	130
   Defined benefit liabilities		1,913	1,675	-	-
   Deferred tax liabilities		1,524	2,028	-	-
   Total non-current liabilities		6,513	15,205	7	130
   Current liabilities
   Trade and other payables		14,468	14,980	1,176	1,108
   Derivatives		31	-	-	-
   Loans and borrowings	12	15,009	14,493	4,535	1,940
   Provisions		5	6	-	-
   Income tax payable		265	266	254	211
   Total current liabilities		29,778	29,745	5,965	3,259
   Total liabilities		36,291	44,950	5,972	3,389
   Total equity and liabilities		158,919	172,159	34,775	31,860

3. Condensed Interim Statements of Changes in Equity

   Group	Total equity	Total equity attributable to owners of the Company	Share capital	Retained earnings	Foreign currency translation reserve	Capital reserve	Statutory reserve fund	Non-controlling interests
   FY2025 As at 1 August 2024 Loss for the year Liquidation and derecognition of subsidiaries Other comprehensive income for the year, net of tax Total comprehensive loss for the year Dividends paid to non-controlling interests	$'000	$'000	$'000	$'000	$'000	$'000	$'000	$'000
   	127,209	73,875	35,727	31,279	(4,480)	10,489	860	53,334
   	(7,105) -3,028	(5,827) -1,188	- - -	(5,827) 8,418 (24)	-254 1,212	-(8,672) -	- - -	(1,278) -1,840
   	(4,077) (504)	(4,639) -	- -	2,567 -	1,466 -	(8,672) -	- -	562 (504)
   As at 31 July 2025	122,628	69,236	35,727	33,846	(3,014)	1,817	860	53,392
   FY2024 As at 1 August 2023 Profit for the year Liquidation of a subsidiary Other comprehensive loss for the year, net of tax Total comprehensive income for the year Dividends paid to non-controlling interests	126,583	72,274	35,727	29,062	(3,872)	10,497	860	54,309
   	2,260 - (1,252)	2,232 - (631)	- - -	2,232 8 (23)	- (608)	-(8) -	- - -	28 - (621)
   	1,008 (382)	1,601 -	- -	2,217 -	(608) -	(8) -	- -	(593) (382)
   As at 31 July 2024	127,209	73,875	35,727	31,279	(4,480)	10,489	860	53,334

   Company		Total equity	Share capital	Accumulated losses	Capital reserve
   		$'000	$'000	$'000	$'000
   FY2025
   As at 1 August 2024		28,471	35,727	(7,411)	155
   Profit for the year		332	-	332	-
   Total comprehensive income
   for the year		332	-	332	-
   As at	31 July 2025	28,803	35,727	(7,079)	155
   FY2024
   As at 1 August 2023		32,622	35,727	(3,260)	155
   Loss for the year		(4,151)	-	(4,151)	-
   Total comprehensive loss
   for the year		(4,151)	-	(4,151)	-
   As at	31 July 2024	28,471	35,727	(7,411)	155

4. Condensed Interim Consolidated Cash Flow Statement

The Group

(Loss)/profit before tax Adjustments for:

Net gain on disposal of property, plant and equipment 6

Depreciation of property, plant and equipment

Net write-back of inventories 6

Net impairment loss/(reversal of impairment) on trade receivables 6

Dividend income

Net fair value loss/(gain) on investment securities 6

Finance costs Interest income

Gain on deconsolidation of a subsidiary 14

Net unrealised exchange loss

Net unrealised loss/(gain) on derivatives

(Increase)/decrease in inventories Decrease in prepayments and receivables Decrease in payables

Interest received

Decrease/(increase) in short-term deposits with maturity more than

three months Dividend received

Purchase of property, plant and equipment

Proceeds and deposit received from disposal of property, plant and equipment

Purchase of investment securities

Proceeds from disposal of investment securities

Net cash outflow from deconsolidation of a subsidiary 14

Proceeds from bank loans Repayment of bank loans

Repayment of principle portion of lease liabilities Dividends paid to non-controlling interests

Net decrease in cash and cash equivalents

Effect of exchange rate changes on cash and cash equivalents Cash and cash equivalents at beginning of the year

1. Condensed Interim Consolidated Cash Flow Statement

   Cash and cash equivalents comprised the following:

   The Group

   31 July 2025		31 July 2024
   $'000		$'000
   Cash at banks and on hand	8,054	10,840
   Bank deposits	75,910	84,241
   Cash and short-term deposits	83,964	95,081
   Less: Bank deposits with maturity more than three months	(47,686)	(61,270)
   Cash and cash equivalents	36,278	33,811

2. Notes to the Condensed Interim Financial Statements
   1. Corporate information

      Sunright Limited (the "Company") is a limited liability company incorporated and domiciled in Singapore and is listed on the Mainboard of the Singapore Exchange Securities Trading Limited ("SGX-ST"). These condensed interim consolidated financial statements as at and for the second half year ended 31 July 2025 comprise the Company and its subsidiaries (collectively, the "Group"). The principal activities of the Company are that of investment holding and provision of management services.

      The principal activities of the Group are in the business of manufacturing burn-in/test equipment, provision of semiconductor burn-in and testing services, and research and development of burn-in and test related activities.

   2. Basis of preparation

      The condensed interim financial statements for the second half year ended 31 July 2025 have been prepared in accordance with SFRS(I) 1-34 Interim Financial Reporting issued by the Accounting Standards Council Singapore. The condensed interim financial statements do not include all the information required for a complete set of financial statements. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group's financial position and performance of the Group since the last interim financial statements for the period ended 31 January 2025.

      The accounting policies adopted are consistent with those of the previous financial year which were prepared in accordance with SFRS(I)s, except for the adoption of new and amended standards as set out in Note 2.1.

      The condensed interim financial statements are presented in Singapore Dollars which is the Company's

      functional currency and all values are rounded to the nearest thousand ($'000) unless otherwise stated.

      1. New and amended standards adopted by the Group

         The accounting policies adopted are consistent with those previous financial year except that on 1 August 2024, the Group adopted all amendments to standards which are effective for annual financial periods beginning on or after 1 January 20241. The adoption of these amendments to standards did not have any material effect on the financial performance or position of the Group.

         ‌1 Refer to Annual Report FY2024, Notes to the Financial Statements (Note 2.3).

         2. Basis of preparation (cont'd)
      2. Use of judgements and estimates

         In preparing the condensed interim financial statements, management has made judgements, estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expense. Actual results may differ from these estimates.

         The significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated financial statements as at and for the year ended 31 July 2024.

         Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected.

   3. Seasonal operations

      The Group's businesses are not affected significantly by seasonal or cyclical factors during the financial

      year.

   4. Segment and revenue information

      The Group is organised into the following main business segments:

      1. Burn-in and testing segment is in the business of burn-in and test related activities.

      2. "Others" segment involves Group-level corporate services, treasury and investments functions, and consolidation adjustments which are not directly attributable to particular business segment above.

      Key management monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on operating profit or loss which in certain respects, as explained in the table below, is measured differently from operating profit or loss in the consolidated financial statements. Group financing (including finance costs) and income taxes are managed on a group basis and are not allocated to operating segments.

      1. Segment and revenue information (cont'd)
         1. Business segment

            	Burn-in and testing		Others		Consolidated
            	2025	2024	2025	2024	2025	2024
            	$'000	$'000	$'000	$'000	$'000	$'000
            2nd Half Year ended 31 July
            Revenue:
            External customers	38,104	39,527	-	-	38,104	39,527
            Results:
            Segment (loss)/profit	(2,919)	5,092	125	(163)	(2,794)	4,929
            Interest income					1,214	1,310
            Finance costs					(478)	(717)
            (Loss)/profit before tax					(2,058)	5,522
            Income tax expense					(469)	(650)
            (Loss)/profit for the period					(2,527)	4,872
            Other information:
            Depreciation of property, plant and equipment	7,616	7,447	31	38	7,647	7,485
            Additions to property,plant and equipment	4,002	5,273	22	6	4,024	5,279

            	Burn-in and testing		Others		Consolidated
            	2025	2024	2025	2024	2025	2024
            	$'000	$'000	$'000	$'000	$'000	$'000
            Full Year ended 31 July
            Revenue:
            External customers	72,982	82,035	-	-	72,982	82,035
            Results:
            Segment (loss)/profit	(9,058)	2,184	627	(84)	(8,431)	2,100
            Interest income					2,582	2,641
            Finance costs					(1,058)	(1,405)
            (Loss)/profit before tax					(6,907)	3,336
            Income tax expense					(198)	(1,076)
            (Loss)/profit for the year					(7,105)	2,260
            Other information:
            Depreciation of property, plant and equipment	15,059	15,049	64	94	15,123	15,143
            Additions to property,plant and equipment	6,671	11,565	22	16	6,693	11,581

            4. Segment and revenue information (cont'd)
         2. Disaggregation of Revenue The Group

            		2nd Half Year ended	2nd Half Year ended	Full Year ended	Full Year ended
            		31 July	31 July	31 July	31 July
            Burn-in and testing		2025	2024	2025	2024
            		$'000	$'000	$'000	$'000
            Major type of goods and services
            Sale of goods		5,966	5,866	9,232	12,340
            Rendering of services		32,138	33,661	63,750	69,695
            Total Revenue		38,104	39,527	72,982	82,035
            Primary geographical markets
            Singapore		2,867	7,511	5,348	13,316
            Malaysia		22,364	20,547	43,671	45,221
            Mainland China		6,532	6,368	12,818	13,883
            United States		3,450	1,929	5,704	3,725
            Others*		2,891	3,172	5,441	5,890
            Total Revenue		38,104	39,527	72,982	82,035

            * Others refer to other Asian markets, European markets and Middle East markets.

            The goods and services are transferred to the customers at a point in time.

         3. A breakdown of sales

            The Group

            	Financial Year ended	Financial Year ended	Increase/
            	31 July 2025	31 July 2024	(decrease)
            	$'000	$'000	%
            (a) Revenue reported for first half year	34,878	42,508	(18%)
            (b) Loss for the year reported for first half year	(4,578)	(2,612)	75%
            (c) Revenue reported for second half year	38,104	39,527	(4%)
            (d) (Loss)/profit for the year reported for second half year	(2,527)	4,872	NM

      2. Financial assets and liabilities

         Set out below is an overview of the financial assets and liabilities of the Group and the Company as at 31 July 2025 and 31 July 2024.

         The Group The Company
         	31 July 2025	31 July 2024		31 July 2025	31 July 2024
         	$'000	$'000		$'000	$'000
         Financial Assets
         Trade and other receivables: - Trade receivables, net	14,196	13,779		865	2,154
         - Sundry deposits	632	796		1	1
         - Sundry receivables	6,110	1,472		5,174	206
         - Amounts due from subsidiaries (non-trade), net	-	-		3,980	924
         Total trade and other receivables	20,938	16,047		10,020	3,285
         Loans to a subsidiary	-	-		411	644
         Cash and short-term deposits	83,964	95,081		18,131	19,775
         Financial assets, at amortised costs	104,902	111,128		28,562	23,704
         Derivatives, at fair value through profit or loss Investment securities, at fair value through profit or loss	- 3,680	30 4,559		- 444	- 382
         Total financial assets	108,582	115,717		29,006	24,086
         Financial Liabilities
         Trade and other payables: - Trade payables	(3,661)	(3,323		) -	-
         - Accrued operating expenses	(4,368)	(5,162		) (1,077)	(1,086)
         - Sundry payables	(6,439)	(6,495		) (99)	(22)
         Total trade and other payables	(14,468)	(14,980		) (1,176)	(1,108)
         Loans and borrowings	(18,085)	(25,995		) (4,542)	(2,070)
         Financial liabilities, at amortised costs	(32,553)	(40,975		) (5,718)	(3,178)
         Derivatives, at fair value through profit or loss	(31)	-		-	-
         Total financial liabilities	(32,584)	(40,975		) (5,718)	(3,178)
         6. (Loss)/profit before taxation
         6.1 Significant items
         The Group
         	2nd Half Year	2nd Half		Full Year	Full Year
         	ended	Year ended		ended	ended
         	31 July	31 July		31 July	31 July
         	2025	2024		2025	2024
         	$'000	$'000		$'000	$'000
         Net write-back of inventories Net (impairment loss)/reversal of impairment on trade receivables	87 (252)	139 1		65 (252)		6 1
         Net exchange (loss)/gain	(381)	(159)	(469)		94
         Net gain/(loss) on derivatives	46	(34)	74		(60)
         Net fair value (loss)/gain on investment securities Net gain on disposal of property, plant and equipment	(255) 464	426 8,622	(963) 464		532 8,862
         COVID-19 related government reliefs	-	269	-		269

      3. (Loss)/profit before taxation (cont'd) 6.2 Related party transactions

         There are no related party transactions during the current financial year.

      4. Significant commitments for purchases of property, plant and equipment

         Commitments for purchases of property, plant and equipment amounted to $5,891,000 as at 31 July 2025.

      5. Income tax

         The Group calculates the income tax expense using the tax rate that would be applicable to the expected total annual earnings. The major components of income tax expense in the condensed interim consolidated statement of profit or loss are:

         The Group

         	2nd Half Year ended	2nd Half Year ended		Full Year ended	Full Year ended
         	31 July	31 July		31 July	31 July
         	2025	2024		2025	2024
         Current income tax:	$'000	$'000		$'000	$'000
         Current income tax expense 529		748		1,035	1,036
         (Over)/under provision in respect of previous years (89)		13		(250)	13
         440		761		785	1,049
         Deferred tax:
         Origination and reversal of temporary differences	32	(113)		(584)	25
         (Over)/under provision in respect of previous years	(3)	2		(3)	2
         	29	(111)		(587)	27
         Income tax expense	469	650		198	1,076

      6. Dividends

         The Group

         	Financial Year	Financial Year
         	2025	2024
         	$'000	$'000
         Proposed but not recognised as liability: First and final ordinary tax exempt (one-tier) dividend for 2025
         at 0.2 cent (2024: Nil) per share	246	-

      7. Net asset value

         The Group The Company

         31 July 2025 31 July 2024 31 July 2025 31 July 2024

         Net asset value per ordinary share attributable to the owners of the Company (cents)

         56.4 60.2 23.5 23.2

      8. Property, plant and equipment

         For the second half year ended 31 July 2025, the Group acquired property, plant and equipment amounting to $4,024,000 (2024: $5,279,000) and disposed off assets amounting to $77,000 (2024:

         $824,000).

      9. Loans and borrowings

         The Group The Company

         	31 July 2025	31 July 2024	31 July 2025	31 July 2024
         	$'000	$'000	$'000	$'000
         Amount repayable within one year or less or on demand Secured	1,059	1,635	28	52
         Unsecured	13,950	12,858	4,507	1,888
         	15,009	14,493	4,535	1,940
         Amount repayable after one year Secured	1,862	2,677	7	35
         Unsecured	1,214	8,825	-	95
         	3,076	11,502	7	130
         Total loans and borrowings	18,085	25,995	4,542	2,070

         Obligations under leases are secured on certain assets of the companies within the Group.

      10. Share capital Details of any changes in the company's share capital arising from rights issue, bonus issue, subdivision, consolidation, share buy-backs, exercise of share options or warrants, conversion of other issues of equity securities, issue of shares for cash or as consideration for acquisition or for any other purpose since the end of the previous period reported on. State the number of shares that may be issued on conversion of all the outstanding convertibles, if any, against the total number of issued shares excluding treasury shares and subsidiary holdings of the issuer, as at the end of the current financial period reported on and as at the end of the corresponding period of the immediately preceding financial year. State also the number of shares held as treasury shares and the number of subsidiary holdings, if any, and the percentage of the aggregate number of treasury shares and subsidiary holdings held against the total number of shares outstanding in a class that is listed as at the end of the current financial period reported on and as at the end of the corresponding period of the immediately preceding financial year.

          There was no change in share capital during the current financial year.

          The Company did not have any outstanding convertibles as at 31 July 2025 and 31 July 2024. There were neither treasury shares nor subsidiary holdings as at 31 July 2025 and 31 July 2024.

          To show the total number of issued shares excluding treasury shares as at the end of the current financial year and as at the end of the immediately preceding year

          The Group and the Company

          31 July 2025 31 July 2024

          Number of

          shares Amount

          Number of

          shares Amount

          '000 $'000 '000 $'000

          Issued and fully paid ordinary shares:

          Balance at beginning and end of the year 122,806 35,727 122,806 35,727

          A statement showing all sales, transfers, cancellation and/or use of treasury shares as at the end of the current financial year reported on

          Not applicable. The Company did not hold any treasury shares as at 31 July 2025 and 31 July 2024.

          A statement showing all sales, transfers, cancellation and/or use of subsidiary holdings as at the end of the current financial year reported on

          Not applicable. The Company did not have any subsidiary holdings as at 31 July 2025 and 31 July 2024.

      11. Deconsolidation of a subsidiary

          KEST Systems and Service Ltd. ("KEST"), a wholly-owned subsidiary of the Company, was placed under members' voluntary liquidation on 5 February 2025 and a liquidator was appointed on the same day to take control of KEST. According to SFRS(I) 10 Consolidated Financial Statements, the Company had lost control over KEST and therefore derecognised its relevant assets and liabilities at the date when the control was lost.

          Derecognised assets and liabilities mainly consisted of:

          $'000

          Property, plant and equipment 79

          Other receivables 94

          Cash and short-term deposits 6,011

          6,184

          Other payables (678)

          Lease liabilties (79)

          Net assets of deconsolidation 5,427

          Liquidation consideration receivable and gain recognised from the deconsolidation:

          $'000

          Receivable from liquidation consideration 5,055

          Less: Net assets of deconsolidation (5,427)

          Foreign currency translation differences reclassified to

          profit or loss upon deconsolidation 435

          Gain on deconsolidation 63

          Analysis of net cash outflow arising from deconsolidation:

          $'000

          Cash received -

          Net cash of subsidiary derecognised (6,011)

          Net cash outflow from deconsolidation (6,011)

          Liquidation consideration receivable of approximately $5,055,000 is expected to be received upon completion of liquidation.

      12. (Loss)/earnings per share (Loss)/earnings per ordinary share of the group for the current financial year reported on and the corresponding period of the immediately preceding financial year, after deducting any provision for preference dividends

          Basic (loss)/earnings per ordinary share are calculated by dividing (loss)/profit net of tax, attributable to owners of the Company by the weighted average number of ordinary shares outstanding during the current financial year.

          The Group

          31 July 31 July

          2025 2024

          (Loss)/profit attributable to owners of the Company ($'000)	(5,827)	2,232
          Weighted average number of ordinary shares ('000)	122,806	122,806
          (Loss)/earnings per ordinary share (cents)	(4.7)	1.8

          The Group has no potential ordinary shares in issue at the end of the reporting date and therefore diluted (loss)/earnings per share has not been presented.

      13. Subsequent events

      There were no known subsequent events which have led to adjustments to this set of condensed interim financial statements.

3. Other Information required by Listing Rule Appendix 7.2
   1. Review

      The condensed interim statements of financial position of the Group and the Company as at 31 July 2025 and the related condensed interim statements of changes in equity of the Group and the Company, the condensed interim consolidated statement of profit or loss and other comprehensive income, and condensed interim consolidated cash flow statement of the Group for the second half year and/or full year then ended and certain explanatory notes have not been audited or reviewed.

   2. Review of performance of the Group

1. any significant factors that affected the turnover, costs, and earnings of the group for the current financial period reported on, including (where applicable) seasonal or cyclical factors; and
2. any material factors that affected the cash flow, working capital, assets or liabilities of the group during the current financial period reported on

Second half year ended 31 July 2025 (2HFY2025) vs second half year ended 31 July 2024 (2HFY2024)

The Group recorded revenue of $38.1 million in 2HFY2025, a decrease of $1.4 million or 4% as compared to $39.5 million in 2HFY2024. This was due to weaker demand for burn-in and test services.

Other income decreased by $8.7 million or 89%, to $1.1 million, largely attributable to lower gain on disposal of property, plant and equipment ("PPE") by $8.2 million and absence of fair value gain on investment securities of $0.4 million.

Employee benefits expense decreased by $2.4 million or 13%, to $15.9 million, with reduced labour to align with operational requirements.

Other expenses were lower by $0.4 million or 3%, to $12.3 million, as a result of cost reductions in utilities, repairs and maintenance and recruitment expenses totalled $1.1 million. These were partially offset by impairment loss on trade receivables of $0.3 million, fair value loss on investment securities of $0.3 million and an increase in net exchange loss2 of $0.1 million.

Consequently, the Group reported a loss before tax of $2.1 million in 2HFY2025, from the profit of $5.5 million reported in 2HFY2024.

‌2Net of gain/loss on derivatives.

1. Review of performance of the Group (cont'd) Review of performance (cont'd)

   Financial year ended 31 July 2025 (FY2025) vs 31 July 2024 (FY2024)

   The Group recorded revenue of $73.0 million in FY2025, reflecting a decrease of $9.1 million or 11% as compared to $82.0 million in FY2024. The decline reflected softer market conditions in both the computing and automotive market segments for our products and services.

   Other income decreased by $9.0 million or 84%, to $1.7 million, largely attributable to lower gain on disposal of PPE by $8.4 million and absence of fair value gain on investment securities of $0.5 million.

   Raw materials and consumables used, as well as changes in inventories of finished goods and work-in-progress, were lower by $2.9 million or 22%, to $10.4 million, in line with reduced equipment deliveries.

   Employee benefits expense decreased by $3.7 million or 10%, to $33.5 million, with reduced labour resource required to process lower volume.

   Other expenses were lower by $0.9 million or 3%, to $24.3 million, as a result of cost reductions in utilities, repairs and maintenance, sales commissions and recruitment expenses totalled $2.6 million. These reductions were partially offset by net impairment loss on trade receivables of $0.3 million, net exchange loss3 of $0.4 million and fair value loss on investment securities of $1.0 million.

   Consequently, the Group reported a loss before tax of $6.9 million in FY2025, from a profit of $3.3 million reported in FY2024.

   Review of financial position

   PPE was lowered by $7.4 million or 14%, from $51.3 million as at 31 July 2024, to $43.9 million as at 31 July 2025. The decrease was primarily due to depreciation charge of $15.1 million, partially offset by net additions of $6.1 million and the foreign currency translation effect of $1.7 million.

   Investment securities reduced by $0.9 million or 19%, from $4.6 million to $3.7 million, as a result of fair value loss of $1.0 million.

   Current trade and other receivables increased by $5.0 million or 32%, from $15.5 million to $20.6 million, largely due to liquidation consideration receivable of $5.1 million from the deconsolidation of a subsidiary.

   Cash and short-term deposits decreased by $11.1 million or 12%, from $95.1 million to $84.0 million, represented net cash outflows from deconsolidation of a subsidiary and net repayments of bank loans, partially offset by foreign currency translation effect arising from a strengthened Ringgit Malaysia.

   Total loans and borrowings decreased by $7.9 million or 30%, from $26.0 million to $18.1 million, primarily due to net repayments of bank loans of $7.3 million and net decrease in lease liabilities of $1.4 million, partially offset by foreign currency translation effect of $0.8 million.

   ‌3Net of gain on derivatives.

2. Where a forecast, or a prospect statement, has been previously disclosed to shareholders, any variance between it and the actual results

   There is no material variance from our half year financial statement announcement for the period ended 31 January 2025 commentary under Section F, paragraph 4.

3. A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months

   The International Monetary Fund has revised its 2025 global economic outlook growth rate upwards from 2.8% to 3.0%, in its July 2025 report, reflecting an improvement in financial conditions, with a lower average effective US tariff rates than announced in April 2025.

   Worldwide semiconductor revenue in 2025, projected at USD760 billion, was an increase of 15.7% from 2024, primarily driven by artificial intelligence ("AI"), high bandwidth memory, networking chips and power modules.

   However, significant uncertainties remain in global business conditions including in the implementing of reciprocal tariffs and the yet to be announced sectoral tariffs on semiconductors. These developments will continue to exert further pressure on alignment of supply chains and the Group's business.

   With rising demand for AI-driven devices, continued data centre expansion, increasing electronic content in cars, alongside growth in advanced automotive electronics, and a steadier production load trend, the Group remains focused on delivering progressive improvements.

4. Dividend Information
   1. Current Financial Period Reported On

      Any dividend declared (recommended) for the current financial period reported on? Yes

      Name of Dividend First and final tax exempt (one-tier)

      Dividend Type Cash

      Dividend Amount per Ordinary Share 0.2 cent

   2. Corresponding Period of the Immediately Preceding Financial Year

      Any dividend declared for the corresponding period of the immediately preceding financial year? No

   3. Date payable

      11 December 2025.

   4. Books closure date

      Notice is hereby given that subject to shareholders approving the proposed first and final tax exempt (one-tier) dividend at the Company's 47th Annual General Meeting. The Register of Members and the Transfer Books of the Company will be closed from 5.00 p.m. on 26 November 2025 for the preparation of dividend warrants.

      Registrable transfers received by the Company's Share Registrar, Boardroom Corporate & Advisory

      Services Pte. Ltd. at 1 Harbourfront Avenue, #14-07 Keppel Bay Tower, Singapore 098632 up to

      5.00 p.m. on 26 November 2025 will be registered before entitlements to the proposed first and final tax exempt (one-tier) dividend are determined. Members whose securities accounts with The Central Depository (Pte) Limited are credited with shares as at 5.00 p.m. on 26 November 2025 will be entitled for the proposed first and final tax exempt (one-tier) dividend.

   5. If no dividend has been declared (recommended), a statement to that effect and the reason(s) for the decision

      Not applicable.

5. Interested person transactions If the Group has obtained a general mandate from shareholders for IPTs, the aggregate value of such transactions as required under Rule 920(1)(a)(ii). If no IPT mandate has been obtained, a statement to that effect

   No IPT mandate had been obtained.

6. Confirmation that the issuer has procured undertakings from all its directors and executive officers (in the format set out in Appendix 7.7) under Rule 720(1) of the Listing Manual

   The Company has procured undertakings from all its directors and executive officers in the format set out in Appendix 7.7 of the Listing Manual.

7. Review of performance of the Group - turnover and earnings

   Please refer to paragraph 2 within Section F.

8. Confirmation pursuant to Rule 704(13) of the Listing Manual

   The Company confirms that, to the best of its knowledge, belief and information, none of the persons occupying managerial positions in the Company or any of its principal subsidiaries is a relative of a Director or Chief Executive Officer or substantial shareholder of the Company.

9. Confirmation by Board pursuant to Rule 705(5) of the Listing Manual

Not applicable for announcement of full year financial statements.