PMANasdaqConstruction - Special Trade ContractorsUS GAAP · USD

PMA Graphene Technology Group Inc.

PMA Graphene Technology Group Inc. is a Hong Kong-based company with two operating businesses: wet trades construction work in Hong Kong and graphene thermal management technology through its Singapore subsidiary. The construction arm provides plastering, tile laying, brick laying, floor screeding and marble works, while the technology arm is intended to commercialize graphene-based heating and heat dissipation solutions.

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Revenue14.6m USD
−56.8 %y/y
Operating profit (EBIT)-5.5m USD
−2.2 %y/y
EBIT margin-37.4%
−21.6 ppy/y
Net income-5.8m USD
−0.6 %y/y

Fiscal year 2026 · change from previous year

Development 2022–2026

-10010203040m USD2022: 14 m USD2022: EBIT 2.1 m USD20222023: 22 m USD2023: EBIT 2.6 m USD20232024: 28 m USD2024: EBIT 3.2 m USD20242025: 34 m USD2025: EBIT -5.4 m USD20252026: 15 m USD2026: EBIT -5.5 m USD202615-5.5
RevenueOperating profit (EBIT)
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Business

Share of revenue
Wet Trades Construction80 %

Special trade construction services including finishing and interior works for building projects.

Graphene Thermal Management20 %

Graphene-based materials and systems for heating, cooling, and temperature control applications.

Customers

The construction business serves private and public sector project owners in Hong Kong through subcontracting and specialist trade contracting. The graphene technology business is aimed at commercial customers in electronics, mobility, healthcare and smart-device applications that need thermal management solutions.

Private sector construction clients

Developers and contractors buying wet trades work for commercial and residential projects.

Public sector construction clients

Government and public works projects requiring registered specialist subcontracting.

Electronics and AI device customers

Customers needing graphene-based cooling and heat dissipation products for high-performance devices.

Mobility and industrial customers

EV, two-wheeler and similar customers seeking thermal management materials and systems.

Strategy

The company is combining its established wet trades construction platform with a new graphene thermal management business. Its stated direction is to develop, protect and commercialize graphene-based materials and systems while using partnerships and overseas structures to support broader market access.

Commercialize graphene thermal management productsShort term

Transforms proprietary materials into revenue-generating applications across multiple end markets.

Expand international market accessMedium term

A Singapore platform can support cross-border business development and product rollout.

Build strategic partnershipsMedium term

Collaborations can accelerate validation, distribution and technology adoption.

Geography

The core construction business is concentrated in Hong Kong, where the company’s operating subsidiaries carry out wet trades work. The graphene technology business is structured through a Singapore subsidiary intended as an international commercialization platform, with potential applications and market reach extending beyond Hong Kong into overseas markets.

Risks

The company depends on Hong Kong construction demand and execution quality in wet trades projects, where subcontracting work is competitive and project timing can be uneven. The graphene business is earlier-stage and carries technology adoption, commercialization and intellectual property risks, especially if end-market customers do not validate the products as expected.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Construction market concentration in Hong Kong1Execution and subcontracting risk2Technology commercialization risk3Intellectual property risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Construction market concentration in Hong KongImpact: HighLikelihood: High

    Wet trades work is tied to local project pipelines and regional construction cycles.

    Exposure: Hong Kong project demand

  2. Execution and subcontracting riskImpact: HighLikelihood: Medium

    Specialist trade work requires reliable labor, scheduling and quality control.

    Exposure: Wet trades projects

  3. Technology commercialization riskImpact: HighLikelihood: Medium

    Graphene thermal management products may face long qualification and adoption cycles.

    ExposureAI coolingEVsWearables
  4. Intellectual property riskImpact: MediumLikelihood: Medium

    Value depends on patents, licenses and proprietary know-how remaining enforceable and useful.

    Exposure: Graphene-related patents

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Accounting

Judgemental items
Construction contract estimates

Wet trades work often requires judgment on project completion, costs and accruals.

Impact: Can change revenue timing and recognized margins

Intangible assets and licenses

PMA Singapore holds or licenses patent rights tied to graphene technology.

Impact: May require amortization and impairment testing

Development and commercialization spending

Early-stage graphene activities may involve expensed R&D or capitalized costs.

Impact: Affects reported operating results and asset base

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Last updated: 28/09/2026

PMA Graphene Technology Group Inc. (PMA) Revenue, Earnings & Financials 2026 – Clarifo