Tungray Technologies Inc reported a 22% revenue increase in 2025 to $15.6 million, fueled chiefly by growth in welding equipment and motor segments, despite ongoing net losses and operating income pressure. The company’s engineer-to-order model, focused on customized industrial solutions for OEMs in semiconductor and home appliance sectors, is supported by patented technologies and a dual manufacturing base in Singapore and China. Pricing pressures and inflation elevated costs compressed gross margins particularly in its customized product line. Tungray’s strategic growth hinges on expanding ASEAN sales, enhancing R&D efforts, and pursuing acquisitions amid a competitive landscape featuring diverse global players.