Financial Performance - Revenue for the six months ended May 31, 2025, increased to RM 13,230,000, up 43.8% from RM 9,208,000 in the same period of 2024[11] - Gross profit for the same period decreased to RM 2,073,000, down 15.3% from RM 2,450,000 in 2024[11] - Loss before income tax for the period was RM 923,000, compared to a profit of RM 187,000 in the previous year[11] - Total comprehensive loss for the period was RM 834,000, compared to a comprehensive income of RM 191,000 in 2024[13] - The company reported a basic and diluted loss per share of RM 0.20, compared to earnings of RM 0.05 in the previous year[13] - The company reported a loss of RM 923,000 for the six months ended May 31, 2025, compared to a profit of RM 187,000 for the same period in 2024[19] - The Group recorded a loss of approximately RM923,000 for the six months ended 31 May 2025, compared to a profit of approximately RM187,000 in 2024, mainly due to decreased gross profit and increased administrative expenses[130] - As of May 31, 2025, the Group recorded a loss of approximately RM923,000 compared to a profit of RM187,000 in the same period of 2024, primarily due to decreased gross profit and increased administrative expenses[133] Assets and Liabilities - Net current assets increased to RM 2,672,000, up from RM 1,440,000 as of November 30, 2024[15] - Total assets less current liabilities rose to RM 4,458,000, compared to RM 3,233,000 in the previous period[15] - Net assets increased to RM 3,880,000, up from RM 2,565,000 as of November 30, 2024[15] - Share capital increased to RM 2,480,000 from RM 2,067,000[15] - Reserves increased significantly to RM 1,400,000 from RM 498,000[15] - The Group's total liabilities increased, with trade and other payables rising to RM4,785,000 from RM3,622,000[94] - Trade payables from third parties increased significantly to RM1,509,000 from RM372,000, indicating a rise in obligations to suppliers[94] - Contract liabilities decreased to RM1,381,000 from RM1,547,000, reflecting a reduction in obligations related to contracts[86] Cash Flow - Cash generated from operating activities was a net outflow of RM 447,000 for the six months ended May 31, 2025, a significant decrease from a net inflow of RM 1,668,000 in 2024[21] - The cash and cash equivalents at the end of the reporting period increased to RM 4,495,000 from RM 3,084,000 at the beginning of the period, representing a rise of 45.7%[21] - The Group's cash at banks and in hand increased to RM2,507,000 from RM1,448,000, while short-term time deposits rose to RM1,988,000 from RM1,636,000, resulting in total cash and cash equivalents of RM4,495,000 compared to RM3,084,000[90] Segment Performance - Revenue from external customers for the six months ended May 31, 2025, was RM 13,230,000, representing a 43.5% increase from RM 9,208,000 in the same period of 2024[50] - Reportable segment results for the six months ended May 31, 2025, were RM 2,073,000, compared to RM 2,450,000 for the same period in 2024, indicating a decrease of 15.4%[46] - The revenue from system integration and development services was RM 12,703,000 for the six months ended May 31, 2025, up from RM 8,351,000 in 2024, marking a growth of 52.3%[54] - IT outsourcing services recorded no revenue for the six months ended May 31, 2025, a decline from approximately RM187,000 in 2024, due to staff reallocation to internal projects[115] - Revenue from maintenance and consultancy services decreased by approximately 21.3% to approximately RM527,000 for the six months ended May 31, 2025, attributed to delayed renewal agreements[119] Expenses - The depreciation expense for the six months ended May 31, 2025, was RM 260,000, compared to RM 233,000 in 2024, indicating a 11.6% increase[19] - Administrative expenses increased by approximately 26.3% to approximately RM2,922,000 for the six months ended May 31, 2025, primarily due to professional fees related to corporate activities[124] - The cost of materials sold increased significantly to RM 7,925,000 in 2025 from RM 3,618,000 in 2024, representing a rise of 119.1%[60] Corporate Actions - The company issued shares upon completion of a placing, raising RM 2,149,000 during the period[16] - A conditional sale and purchase agreement has been signed to acquire Henan Lixuan Network Technology Co., Ltd. for HK$40,000,000, which will enhance the company's market presence in China[160][165] - The acquisition of Henan Lixuan Network Technology Co., Ltd. is expected to diversify the company's operations beyond the financial services sector[160] Shareholder Information - The weighted average number of ordinary shares increased to 468,000,000 for the six months ended 31 May 2025, up from 390,000,000 in 2024[70] - No interim dividend was recommended for the six months ended 31 May 2025, consistent with the previous year[73] - Directors and chief executives hold significant interests in the Company, with Mr. Chong Yee Ping and Mr. Siah Jiin Shyang each holding 196,560,000 shares, representing 42.0% of the issued share capital[189] - Delicate Edge Limited and King Nordic Limited, owned by Mr. Chong Yee Ping and Mr. Siah Jiin Shyang respectively, each hold 98,280,000 shares, accounting for 21.0% of the total issued share capital[189] Strategic Focus - The Group plans to continue being a major technology service provider in the commercial and public financial services sectors, capitalizing on reduced competition in the Malaysian market[149] - The Group aims to promote new research and development solutions to explore new verticals and industries through potential investment partners[155] - The Group emphasizes partnerships with software companies like IBM and Oracle to build new businesses powered by their platforms and products[154] - The company is focusing on key research in fraud management and leveraging private cloud AI solutions[158] - The company is committed to identifying suitable partners and acquisition targets to stay at the forefront of market trends, particularly in AI technologies[163]
九福来(08611) - 2025 - 中期财报