{"filing": {"accession": "0001493152-26-023959", "cik": "0002024114", "ticker": "TGHL", "company_name": "GrowHub Ltd", "form_type": "20-F", "filing_type": "20-F", "filing_date": "2026-05-15", "accepted_datetime": null, "acceptance_datetime": null, "accepted_at": null, "primary_doc_url": "https://www.sec.gov/Archives/edgar/data/2024114/000149315226023959/0001493152-26-023959-index.htm", "filing_url": "https://www.sec.gov/Archives/edgar/data/2024114/000149315226023959/0001493152-26-023959-index.htm", "period_of_report": "2025-12-31"}, "html_url": "/api/filings/000149315226023959/stream", "exhibits": [], "sections": [{"section_name": "part_1", "section_title": "Part I", "start_position": 5470, "end_position": 7468}, {"section_name": "part_2", "section_title": "Part II", "start_position": 7468, "end_position": 8303}, {"section_name": "part_3", "section_title": "Part III", "start_position": 8303, "end_position": 360549}], "tables": [{"table_index": 0, "table_type": "text", "caption": null, "header_text": "Title\n of each classTrading\n Symbol(s)Name\n of each exchange on which registered"}, {"table_index": 1, "table_type": "text", "caption": null, "header_text": "Large\n accelerated filer\u2610Accelerated\n filer\u2610"}, {"table_index": 6, "table_type": "financial", "caption": null, "header_text": "Page"}, {"table_index": 8, "table_type": "exhibit_index", "caption": null, "header_text": "Item\n 10. Additional Information.53"}, {"table_index": 10, "table_type": "text", "caption": null, "header_text": "\u201camended\n and restated memorandum and articles of association\u201d:The\n amended and restated memorandum and articles of association of the Company dated July 25, 2024."}, {"table_index": 11, "table_type": "text", "caption": null, "header_text": "\u201cClass\n B Ordinary Shares\u201d:Class\n B ordinary shares in the capital of the Company of nominal or par value US$0.0005 each designated as Class B shares, and having the\n rights provided for in the articl"}, {"table_index": 13, "table_type": "text", "caption": null, "header_text": "\u201cGrowHub\n BVI\u201dTHE\n GROWHUB INNOVATIONS COMPANY LIMITED, a BVI business company incorporated under the laws of the British Virgin Islands and our wholly\n owned subsidiary."}, {"table_index": 14, "table_type": "text", "caption": null, "header_text": "\u201cNominating\n and Corporate Governance Committee\u201d:The\n nominating and corporate governance committee of our Board of Directors."}, {"table_index": 16, "table_type": "text", "caption": null, "header_text": "\u201cSGD\u201d\n or \u201cS$\u201d:The\n Singapore dollar, the legal currency of Singapore."}, {"table_index": 18, "table_type": "text", "caption": null, "header_text": "\u25cfchanges\n in political, social and economic conditions, the regulatory environment, laws and regulations and interpretation thereof in the\n jurisdictions where we conduct business or expect to conduct"}, {"table_index": 30, "table_type": "financial", "caption": null, "header_text": "\u25cfloss\n of customers;"}, {"table_index": 36, "table_type": "text", "caption": null, "header_text": "\u25cflead\n to interruptions or degradation of performance in our platform;"}, {"table_index": 39, "table_type": "text", "caption": null, "header_text": "\u25cfprotecting\n the data in and hosted on our system, including against attacks on our system by outside parties or fraudulent behavior by our employees;\n and"}, {"table_index": 42, "table_type": "text", "caption": null, "header_text": "\u25cfany\n decline in demand for our GrowHub Platform;"}, {"table_index": 47, "table_type": "text", "caption": null, "header_text": "\u25cfadverse\n associations with third party suppliers from whom we cooperate;"}, {"table_index": 54, "table_type": "financial", "caption": null, "header_text": "\u25cfcurrencies\n may be devalued or may depreciate or currency restrictions or other restraints on transfer of funds may be imposed;"}, {"table_index": 57, "table_type": "text", "caption": null, "header_text": "\u25cfvariation\n in our results of operations;"}, {"table_index": 62, "table_type": "financial", "caption": null, "header_text": "\u25cfOur\n Directors or executive officers may have conflicts of interest. Mr. Chan Choon Yew Lester is also the Company\u2019s CEO, and\n Chairman of the Board of Directors and Director. As a result, these over"}, {"table_index": 63, "table_type": "financial", "caption": null, "header_text": "\u25cflimit\n our ability to pay dividends or require us to seek consents for the payment of dividends;"}, {"table_index": 66, "table_type": "text", "caption": null, "header_text": "\u25cfa\n limited availability of market quotations for our Class A Ordinary Shares;"}, {"table_index": 71, "table_type": "text", "caption": null, "header_text": "(a)is\n given by a foreign court of competent jurisdiction;"}, {"table_index": 82, "table_type": "text", "caption": null, "header_text": "1.Traceability\n and Authenticity Solutions\u2013 our foundational business, providing technology-enabled\n traceability for food and consumer products across the supply chain; and"}, {"table_index": 87, "table_type": "text", "caption": null, "header_text": "\u25cfTraceability\n Solution\u2013 enables organizations to track products from raw materials to final\n product. Includes a consumer-facing web application that displays product provenance via\n QR code, customi"}, {"table_index": 88, "table_type": "text", "caption": null, "header_text": "\u25cfNature-Based\n Solutions\u2013 reforestation, afforestation, and improved forest management projects\n that generate removal credits with biodiversity and community co-benefits;"}, {"table_index": 91, "table_type": "text", "caption": null, "header_text": "\u25cfBhutan\n (March 2026)\u2013 commenced a pilot trial for traceability solutions on agricultural\n products, with discussions ongoing for carbon project collaboration."}, {"table_index": 96, "table_type": "text", "caption": null, "header_text": "CountryRegistered\n OwnerTrademarkRegistration\n DateTrademark\n NumberClass"}, {"table_index": 97, "table_type": "text", "caption": null, "header_text": "Number%\n of Total"}, {"table_index": 116, "table_type": "financial", "caption": null, "header_text": "For Years Ended December 31,"}, {"table_index": 119, "table_type": "financial", "caption": null, "header_text": "For\n Years Ended December 31,"}, {"table_index": 122, "table_type": "text", "caption": null, "header_text": "For Years Ended December 31,"}, {"table_index": 127, "table_type": "financial", "caption": null, "header_text": "For\n Years Ended December 31,"}, {"table_index": 128, "table_type": "financial", "caption": null, "header_text": "For\n Years Ended December 31,"}, {"table_index": 133, "table_type": "text", "caption": null, "header_text": "For\n Years Ended December 31,"}, {"table_index": 136, "table_type": "text", "caption": null, "header_text": "NameAgePosition"}, {"table_index": 146, "table_type": "text", "caption": null, "header_text": "\u25cfExemption\n from the requirement that we disclose within four business days of any determination to grant a waiver of the code of business conduct\n and ethics to directors and officers."}, {"table_index": 149, "table_type": "text", "caption": null, "header_text": "\u25cfappointing\n the independent auditors and pre-approving all auditing and non-auditing services permitted to be performed by the independent auditors;"}, {"table_index": 150, "table_type": "text", "caption": null, "header_text": "\u25cfreviewing\n and approving, or recommending to the board for its approval, the compensation for our chief executive officer and other executive\n officers;"}, {"table_index": 154, "table_type": "text", "caption": null, "header_text": "\u25cfreviewing\n annually with the board the current composition of the board in regard to characteristics such as independence, knowledge, skills,\n experience, and diversity;"}, {"table_index": 155, "table_type": "text", "caption": null, "header_text": "\u25cfconvening\n shareholders\u2019 annual and extraordinary general meetings and reporting its work to shareholders at such meetings;"}, {"table_index": 162, "table_type": "text", "caption": null, "header_text": "\u25cfeach\n of our directors and executive officers; and"}, {"table_index": 163, "table_type": "text", "caption": null, "header_text": "Name of Beneficial Owners(1)Class A Ordinary Shares Beneficially OwnedClass B Ordinary Shares Beneficially Owned"}, {"table_index": 164, "table_type": "text", "caption": null, "header_text": "(1)Unless otherwise noted,\n the business address of each of the following entities or individuals is 1 Paya Lebar Link 4thFloor, Paya Lebar Quarter\n One, Singapore 408533."}, {"table_index": 167, "table_type": "text", "caption": null, "header_text": "Name\n of related partiesRelationship\n with the Company"}, {"table_index": 174, "table_type": "financial", "caption": null, "header_text": "\u25cf75%\n on the first S$10,000 of normal chargeable income; and"}, {"table_index": 177, "table_type": "financial", "caption": null, "header_text": "\u25cf75%\n exemption on the first S$100,000 of normal chargeable income; and"}, {"table_index": 178, "table_type": "text", "caption": null, "header_text": "\u25cfa\n person who belongs in a country other than Singapore and who is outside Singapore at the time of the sale; or"}, {"table_index": 179, "table_type": "text", "caption": null, "header_text": "\u25cfa\n person who belongs in a country other than Singapore and who is outside Singapore at the time the services are performed; or"}, {"table_index": 182, "table_type": "text", "caption": null, "header_text": "\u25cffinancial\n institutions or financial services entities;"}, {"table_index": 185, "table_type": "financial", "caption": null, "header_text": "\u25cfcertain\n former U.S. citizens or long-term residents;"}, {"table_index": 186, "table_type": "financial", "caption": null, "header_text": "\u25cfan\n individual who is a citizen or resident of the United States;"}, {"table_index": 191, "table_type": "financial", "caption": null, "header_text": "\u25cfthe\n U.S. Holder\u2019s gain or excess distribution will be allocated ratably over the U.S. Holder\u2019s holding period for the Class\n A Ordinary Shares;"}, {"table_index": 192, "table_type": "text", "caption": null, "header_text": "\u25cfthe\n amount allocated to each prior taxable year, other than a pre-PFIC year, will be subject to tax at the highest tax rate in effect\n for individuals or corporations, as appropriate, for that year;"}, {"table_index": 201, "table_type": "text", "caption": null, "header_text": "\u25cfapproximately 14% for paying off an existing related-party working capital loan;"}, {"table_index": 204, "table_type": "text", "caption": null, "header_text": "For\n the Years Ended December 31,"}, {"table_index": 205, "table_type": "text", "caption": null, "header_text": "(1)Audit\n fees include the aggregate fees billed for each of the fiscal years for professional services rendered by our independent registered\n public accounting firm for the audit of our annual finan"}, {"table_index": 206, "table_type": "text", "caption": null, "header_text": "For the Years Ended December 31,"}, {"table_index": 219, "table_type": "exhibit_index", "caption": null, "header_text": "Exhibit NumberDescription of Exhibit"}, {"table_index": 222, "table_type": "text", "caption": null, "header_text": "THE\n GROWHUB LIMITED"}, {"table_index": 225, "table_type": "financial", "caption": null, "header_text": "Page"}, {"table_index": 230, "table_type": "text", "caption": null, "header_text": "To:The\n Board of Directors and Stockholders of"}, {"table_index": 233, "table_type": "financial", "caption": null, "header_text": "202420252025"}, {"table_index": 237, "table_type": "financial", "caption": null, "header_text": "2023202420252025"}, {"table_index": 241, "table_type": "financial", "caption": null, "header_text": "**SharesOutstandingPar\n value**SharesOutstandingPar\n valuepaid-in\n capitalAccumulated\n lossescomprehensiveincomecontrollinginterestTotal"}, {"table_index": 242, "table_type": "text", "caption": null, "header_text": "*Less\n than S$1."}, {"table_index": 245, "table_type": "financial", "caption": null, "header_text": "2023202420252025"}, {"table_index": 252, "table_type": "text", "caption": null, "header_text": "NameDate\n ofincorporationPercentage\n of director\n indirect interestsPlace\n of incorporationPrincipalactivities"}, {"table_index": 263, "table_type": "text", "caption": null, "header_text": "Plant\nand equipmentLesser\n of lease term or expected useful life"}, {"table_index": 264, "table_type": "text", "caption": null, "header_text": "Peel\n partnership rightLesser\n of 10 years and remaining lease term of right-of-use asset - Partnership rights as a strategic partner of The Shire of Murray"}, {"table_index": 268, "table_type": "financial", "caption": null, "header_text": "Level\n 1-\n observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets."}, {"table_index": 279, "table_type": "text", "caption": null, "header_text": "202420252025"}, {"table_index": 282, "table_type": "text", "caption": null, "header_text": "202420252025"}, {"table_index": 284, "table_type": "text", "caption": null, "header_text": "202420252025"}, {"table_index": 285, "table_type": "text", "caption": null, "header_text": "202420252025"}, {"table_index": 287, "table_type": "financial", "caption": null, "header_text": "202420252025"}, {"table_index": 291, "table_type": "text", "caption": null, "header_text": "\u25cfLease\n Site: FIPWA Innovation Centre (Address Part Lot 38 Dollyup Street Stake Hill West Australia), now renamed to GrowHub Innovation Centre."}, {"table_index": 292, "table_type": "text", "caption": null, "header_text": "202420252025"}, {"table_index": 296, "table_type": "text", "caption": null, "header_text": "Description\n of leaseLease\n term"}, {"table_index": 297, "table_type": "financial", "caption": null, "header_text": "202420252025"}, {"table_index": 298, "table_type": "financial", "caption": null, "header_text": "202420252025"}, {"table_index": 302, "table_type": "financial", "caption": null, "header_text": ""}, {"table_index": 303, "table_type": "text", "caption": null, "header_text": "As\n ofDecember\n 31, 2024As\n ofDecember\n 31, 2025"}, {"table_index": 305, "table_type": "financial", "caption": null, "header_text": "202420252025"}, {"table_index": 309, "table_type": "text", "caption": null, "header_text": "-the\n warrant is indexed to the Company\u2019s own stock;"}, {"table_index": 310, "table_type": "text", "caption": null, "header_text": "AssumptionAmount"}, {"table_index": 312, "table_type": "text", "caption": null, "header_text": "Name\n of related partiesRelationship\n with the Company"}, {"table_index": 314, "table_type": "financial", "caption": null, "header_text": "2023202420252025"}, {"table_index": 318, "table_type": "text", "caption": null, "header_text": "2023202420252025"}, {"table_index": 320, "table_type": "financial", "caption": null, "header_text": "2023202420252025"}, {"table_index": 325, "table_type": "financial", "caption": null, 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