Ten-League International Faces Imminent Nasdaq Delisting Threat, Implements Reverse Stock Split Amid Improved 2025 Financials
TLIH sits 26% above its 52-week low of $0.22 on light trading volume (0.3× avg).
Summary
Ten-League International faces a Nasdaq delisting threat for failing to meet the minimum bid price, leading to a shareholder-approved reverse stock split. This comes despite reporting improved net revenue and net income for fiscal year 2025.
Key Events · Corporate Governance and Compliance · TLIH
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Nasdaq Delisting Threat
The company received a Staff Determination on March 10, 2026, for non-compliance with the $1.00 minimum bid price rule and is not eligible for a further grace period. A hearing was held on April 16, 2026, with a decision pending.
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Reverse Stock Split Approved
Shareholders approved a reverse stock split on April 13, 2026, with a ratio between 2-for-1 and 20-for-1, to address the Nasdaq listing deficiency. A subsequent filing confirmed a 1-for-10 reverse split effective May 1, 2026.
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Improved 2025 Financial Performance
Net revenue increased to S$76.2 million (US$59.2 million) in 2025 from S$58.5 million in 2024. Net income rose significantly to S$5.6 million (US$4.3 million) in 2025 from S$1.9 million in 2024.
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Strong Operating Cash Flow
Net cash provided by operating activities increased to S$26.2 million (US$20.4 million) in 2025, up from S$5.0 million in 2024.
Analysis · TLIH · Trade & Services
Ten-League International Holdings Ltd. is facing a critical juncture with a pending Nasdaq delisting decision due to non-compliance with the minimum bid price rule. The company received a Staff Determination on March 10, 2026, and is not eligible for a further grace period. In response, shareholders approved a reverse stock split on April 13, 2026, with a 1-for-10 ratio confirmed in a subsequent filing, effective May 1, 2026, to regain compliance. This corporate action, while necessary to maintain listing, signals significant challenges for the nano-cap company. Despite these listing concerns, the company reported improved financial performance for the fiscal year ended December 31, 2025, with net revenue increasing to S$76.2 million (US$59.2 million) from S$58.5 million in 2024, and net income rising to S$5.6 million (US$4.3 million) from S$1.9 million. Cash flow from operations also saw a substantial increase to S$26.2 million (US$20.4 million). The company continues to face risks related to customer and vendor concentration, with one major customer accounting for 15.2% of 2025 revenue and one major vendor (SANY) for 64.5% of purchases.
At the time of this filing, TLIH was trading at $0.28 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $7.1M. The 52-week trading range was $0.22 to $7.00. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.