Financial Performance - Revenue for the six months ended June 30, 2025, was RM 45,224,000, a decrease of 2.7% from RM 46,479,000 in the same period of 2024[10] - Operating profit decreased to RM 6,774,000, down 29.3% from RM 9,596,000 year-over-year[10] - Net profit for the period was RM 4,600,000, representing a decline of 33.8% compared to RM 6,948,000 in the previous year[10] - Basic earnings per share decreased to 1.15 sen from 1.74 sen, reflecting a drop of 33.9%[10] - Total comprehensive income for the six months ended June 30, 2025, was approximately 4,600,000 MYR, compared to 6,948,000 MYR for the same period in 2024, reflecting a decrease of about 33.9%[24] - Net cash generated from operating activities for the six months ended June 30, 2025, was 4,597,000 MYR, down from 6,578,000 MYR in 2024, representing a decline of approximately 30.0%[14] - The company recorded a net profit of approximately 4.60 million MYR for the six months ended June 30, 2025, down from 6.95 million MYR for the same period in 2024, resulting in net profit margins of approximately 10.17% and 14.95%, respectively[52] Assets and Liabilities - Total assets as of June 30, 2025, increased to RM 83,377,000 from RM 54,015,000 at the end of 2024, marking a growth of 54.3%[11] - Current liabilities rose to RM 42,898,000, up from RM 18,382,000, indicating an increase of 133.5%[11] - The company's net asset value increased to RM 47,581,000 from RM 42,981,000, a rise of 10.5%[12] - Trade receivables increased to RM 23,815,000 from RM 21,290,000, reflecting a growth of 11.8%[11] - The total equity as of June 30, 2025, was 47,581,000 MYR, down from 48,953,000 MYR as of January 1, 2024, reflecting a decrease of approximately 2.8%[13] Expenses - The company incurred total operating expenses of 8,892,000 MYR for the six months ended June 30, 2025, compared to 5,806,000 MYR in 2024, marking an increase of about 53.5%[22] - Employee costs decreased by approximately 2.21 million MYR or 7.41% to about 27.62 million MYR, with the average number of employees decreasing from 1,330 to 1,233[47] - Depreciation expenses increased by approximately 0.27 million MYR or 11.25% to about 2.67 million MYR, mainly due to the renewal of new lease agreements for office properties[48] - Other operating expenses increased by approximately 3.08 million MYR or 53.01% to about 8.89 million MYR, primarily due to increased consulting costs for enhancing telemarketing service performance[49] Cash Flow - The company has maintained a strong cash position with bank and cash balances of RM 48,236,000, significantly up from RM 14,387,000[11] - The company recorded a net increase in cash and cash equivalents of 33,849,000 MYR for the six months ended June 30, 2025, compared to a decrease of 472,000 MYR in 2024[14] - The company generated a net cash inflow from operating activities of approximately 4.60 million MYR for the six months ended June 30, 2025, compared to about 6.58 million MYR for the same period in 2024[53] Shareholder Information - The major shareholder, CoreVest Holdings Limited, holds 255,028,000 shares, representing 63.76% of the issued share capital[72] - Alpha Ladder Finance Pte. Ltd. is another significant shareholder, holding 80,000,000 shares, which accounts for 20.00% of the issued share capital[72] - Following a share acquisition agreement, CoreVest and Alpha Ladder Finance agreed to acquire a total of 300,000,000 shares, representing 75% of the company's total issued share capital[83] - After a private placement completed on July 15, 2025, a total of 100,000,000 shares, or 25% of the total issued share capital, is held by the public[84] Corporate Governance - The audit committee reviewed the interim results for the six-month period ending June 30, 2025, with no objections raised regarding the accounting policies adopted by the group[87] - Kow Chee Seng has resigned as an independent non-executive director and chairman of the audit committee[88] - Tan Yee Vean has stepped down as an independent non-executive director and no longer serves as chairman of the nomination committee, audit committee, and remuneration committee[88] - Lee Koon Yew has resigned as the company's CEO and is no longer a member of the remuneration committee[88] - Luo Zuchun has been appointed as chairman of the board, executive director, CEO, and member of the nomination and remuneration committees[88] - Chen Jiajun has been appointed as an executive director[88] - Cai Ruanjia has been appointed as an independent non-executive director, chairman of the remuneration committee, and member of the audit and nomination committees[88] - Zhuo Haokun has been appointed as an independent non-executive director, chairman of the audit committee, and authorized representative of the company[88] - Liu Meinu has been appointed as an independent non-executive director and chairman of the nomination committee, as well as a member of the audit and remuneration committees[88] Strategic Outlook - The group anticipates a stable and resilient overall outlook for the second half of 2025, focusing on increasing service seat numbers through partnerships with new database owners and insurance companies[70] - The group is actively exploring opportunities related to digital currencies to enhance long-term development[70] - The group has no specific plans for significant investments or capital assets beyond what has been disclosed[66] Name Change - The company changed its English name to BitStrat Holdings Limited, effective July 2, 2025, following a special resolution passed at the shareholders' meeting on June 26, 2025[68] - The company changed its name from "UTS Marketing Solutions Holdings Limited" to "BitStrat Holdings Limited" effective July 2, 2025[78]
比特策略(06113) - 2025 - 中期财报