DailySpaceERDASAN GROUP BERHAD
0072 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 1567 entries read2023 至 2025 年报，共读出 1567 条
The company这家公司
Erdasan makes precision components, tools, moulds, dies, jigs and fixtures. Its customers include contract manufacturers, hard disk drive manufacturers and the medical industry. It also sells solar electricity to Tenaga Nasional Berhad and rents out surplus factory space. The group ceased glove production in FY2024.Erdasan 制造精密零件、工具、模具、冲模、夹具与治具。客户包括合约制造商、硬盘制造商及医疗行业。集团也向 Tenaga Nasional Berhad 销售太阳能电力，并出租多余厂房空间。集团在 FY2024 停止手套生产。
Source: annual report 2024, pages 14, 16; annual report 2025, pages 8, 85.出处：2024 年年报第 14、16 页；2025 年年报第 8、85 页。
For the 18-month period in the 2025 report, fabrication and automation services generated RM53.9 million and solar renewable energy RM1.0 million. There were no glove sales. Customer A accounted for RM34.0 million or 62% of group revenue, Customer B RM7.5 million or 14%, and Customer C RM6.3 million or 12%.2025 年报涵盖的 18 个月内，制造与自动化服务带来 RM53.9 million 营业额，太阳能业务带来 RM1.0 million。期间没有手套销售。Customer A 占集团营业额 RM34.0 million 或 62%，Customer B 占 RM7.5 million 或 14%，Customer C 占 RM6.3 million 或 12%。
Source: annual report 2025, pages 6, 97, 156.出处：2025 年年报第 6、97、156 页。
The 2024 shareholding analysis listed Mak Siew Wei with 15,121,522 shares or 6.68%, held through a nominee company. The 2025 report says none of the directors in office at period end had an interest in the company's ordinary shares during the period. It also says none of the directors had a family relationship with another director or major shareholder.2024 年股权分析列出 Mak Siew Wei 通过代名公司持有 15,121,522 股，占 6.68%。2025 年报表示，期末在任董事在期间均未持有公司普通股权益，也表示董事与其他董事或主要股东之间没有亲属关系。
Source: annual report 2024, page 166; annual report 2025, pages 17, 67.出处：2024 年年报第 166 页；2025 年年报第 17、67 页。
The 2025 holder list includes these pledged securities accounts: M & A Nominees (Tempatan) Sdn. Bhd. for Soh Choh Piau (M&A), 2,772,870 shares or 1.21%; Kenanga Nominees (Tempatan) Sdn. Bhd. for Kuek Eng Mong, 2,000,066 or 0.87%; Public Nominees (Tempatan) Sdn. Bhd. for Chen Huang Guang (E-TCS), 1,550,133 or 0.68%; for Kho Chong Yau (E-TSA), 1,046,666 or 0.46%; and for Tan Kong Han (SS2/PIV), 900,000 or 0.39%.2025 年持股名单包括以下质押证券账户：M & A Nominees (Tempatan) Sdn. Bhd. 为 Soh Choh Piau (M&A) 持有 2,772,870 股，占 1.21%；Kenanga Nominees (Tempatan) Sdn. Bhd. 为 Kuek Eng Mong 持有 2,000,066 股，占 0.87%；Public Nominees (Tempatan) Sdn. Bhd. 为 Chen Huang Guang (E-TCS) 持有 1,550,133 股，占 0.68%；为 Kho Chong Yau (E-TSA) 持有 1,046,666 股，占 0.46%；为 Tan Kong Han (SS2/PIV) 持有 900,000 股，占 0.39%。
Source: annual report 2025, page 171.出处：2025 年年报第 171 页。
Other pledged securities accounts in that list are Maybank Nominees (Tempatan) Sdn. Bhd. for Lim Thiam Wai, 725,700 shares or 0.32%; Public Nominees (Tempatan) Sdn. Bhd. for Ong Chee Choon (E-KPG), 650,100 or 0.28%; two Public Nominees (Tempatan) Sdn. Bhd. accounts for Tey Heong Tiong (E-TCS), 649,933 or 0.28% and 600,000 or 0.26%; and AllianceGroup Nominees (Tempatan) Sdn. Bhd. for Tye Nam Wang (7005319), 606,100 or 0.27%.同一名单的其他质押证券账户包括：Maybank Nominees (Tempatan) Sdn. Bhd. 为 Lim Thiam Wai 持有 725,700 股，占 0.32%；Public Nominees (Tempatan) Sdn. Bhd. 为 Ong Chee Choon (E-KPG) 持有 650,100 股，占 0.28%；Public Nominees (Tempatan) Sdn. Bhd. 为 Tey Heong Tiong (E-TCS) 持有的两个账户分别有 649,933 股，占 0.28%，以及 600,000 股，占 0.26%；AllianceGroup Nominees (Tempatan) Sdn. Bhd. 为 Tye Nam Wang (7005319) 持有 606,100 股，占 0.27%。
Source: annual report 2025, page 171.出处：2025 年年报第 171 页。
Chou Sing Hoan was appointed Executive Director on 23 April 2025. Managing Director Choong Lee Aun resigned on 28 April 2025, and Executive Director Mak Siew Wei was removed on 8 May 2025. Chairman Dato’ Nik Ismail bin Dato’ Nik Yusoff resigned on 27 May 2025. Ling Chi Hoong and Lee Lisa joined as Independent Non-Executive Directors on 21 November 2025. The governance statement says the chairman position remained vacant and the company had no CEO.Chou Sing Hoan 于 2025 年 4 月 23 日获委任为执行董事。董事经理 Choong Lee Aun 于 2025 年 4 月 28 日辞职，执行董事 Mak Siew Wei 于 2025 年 5 月 8 日被罢免。主席 Dato’ Nik Ismail bin Dato’ Nik Yusoff 于 2025 年 5 月 27 日辞职。Ling Chi Hoong 与 Lee Lisa 于 2025 年 11 月 21 日加入董事会，担任独立非执行董事。治理声明表示，主席职位仍空缺，公司也没有 CEO。
Source: annual report 2025, pages 3, 37, 45.出处：2025 年年报第 3、37、45 页。
Revenue sources, 2025 reporting period2025 报告期间营业额来源
Source: annual report 2025, page 97.出处：2025 年年报第 97 页。
Major events大事记
Source: annual report 2023, page 161.出处：2023 年年报第 161 页。
Source: annual report 2023, page 11.出处：2023 年年报第 11 页。
Source: annual report 2023, page 160.出处：2023 年年报第 160 页。
Source: annual report 2024, page 9.出处：2024 年年报第 9 页。
Source: annual report 2025, page 65.出处：2025 年年报第 65 页。
Source: annual report 2025, page 119.出处：2025 年年报第 119 页。
Source: annual report 2025, page 53.出处：2025 年年报第 53 页。
Source: annual report 2025, page 152.出处：2025 年年报第 152 页。
Source: annual report 2025, page 120.出处：2025 年年报第 120 页。
Source: annual report 2025, page 65.出处：2025 年年报第 65 页。
Revenue and losses; 2025 covers 18 months营业额与亏损；2025 年涵盖 18 个月
Assets, borrowings and equity资产、借款与权益
20232023 年
Operations generated RM17.1 million. Cash spending included RM5.9 million on property, plant and equipment, RM9.3 million on right-of-use assets and RM10.0 million on marketable securities. Net repayments were RM36.8 million for term loans and revolving credit and RM2.0 million for leases. Pledged deposits of RM35.0 million were released, and exercised share options brought RM1.7 million. No dividend was paid, declared or proposed.营运带来 RM17.1 million 现金。现金支出包括购置产业、厂房与设备 RM5.9 million、使用权资产 RM9.3 million，以及有价证券 RM10.0 million。定期贷款与循环信贷偿还净额为 RM36.8 million，租赁偿还净额为 RM2.0 million。集团提取了 RM35.0 million 质押存款，行使股票期权带来 RM1.7 million。公司没有支付、宣布或建议派发股息。
Source: annual report 2023, pages 15, 59, 70, 75, 76.出处：2023 年年报第 15、59、70、75、76 页。
20242024 年
Operations used RM8.7 million. Cash payments included RM329,645 for property, plant and equipment, RM570,000 for right-of-use assets and RM4.2 million for marketable securities. Private placement proceeds were RM5.5 million and exercised share options brought RM1.7 million. The group released RM32.2 million of pledged deposits. Net repayments were RM32.4 million for term loans and revolving credit and RM3.1 million for leases. No dividend was paid, declared or proposed.营运使用 RM8.7 million 现金。现金支出包括购置产业、厂房与设备 RM329,645、使用权资产 RM570,000，以及有价证券 RM4.2 million。私人配售所得为 RM5.5 million，行使股票期权带来 RM1.7 million。集团提取了 RM32.2 million 质押存款。定期贷款与循环信贷偿还净额为 RM32.4 million，租赁偿还净额为 RM3.1 million。公司没有支付、宣布或建议派发股息。
Source: annual report 2024, pages 14, 58, 70, 75, 76.出处：2024 年年报第 14、58、70、75、76 页。
2025: 18 months2025 年：18 个月
Operations generated RM6.0 million during the extended period. The group paid RM195,103 for property, plant and equipment and RM3.2 million for marketable securities. Disposals of interests in associates brought RM2.4 million, and exercised share options brought RM468,000. Net repayments were RM2.2 million for term loans and revolving credit and RM2.3 million for leases. Interest paid was RM704,636. No dividend was paid, declared or proposed.延长后的报告期间，营运带来 RM6.0 million 现金。集团支付 RM195,103 购置产业、厂房与设备，并支付 RM3.2 million 购买有价证券。出售联营公司权益带来 RM2.4 million，行使股票期权带来 RM468,000。定期贷款与循环信贷偿还净额为 RM2.2 million，租赁偿还净额为 RM2.3 million。已付利息为 RM704,636。公司没有支付、宣布或建议派发股息。
Source: annual report 2025, pages 11, 63, 74, 79, 80.出处：2025 年年报第 11、63、74、79、80 页。
Across the years跨年合看
The group stopped glove production and moved towards renting out facilities. Investment properties stood at RM67.4 million after transfers from property, plant and equipment and right-of-use assets. The company offset RM260.0 million of accumulated losses against share capital in April 2024 and another RM100.0 million in July 2025. The 2025 report also restated earlier financial statements for payments previously capitalised as property, plant and equipment and for a subsidiary's inconsistent measurement policy. Earlier years in the figures table retain the amounts printed in the earlier reports.集团停止手套生产，并转向出租设施。产业、厂房与设备及使用权资产转入后，投资产业为 RM67.4 million。公司于 2024 年 4 月以股本抵销 RM260.0 million 累计亏损，并于 2025 年 7 月再抵销 RM100.0 million。2025 年报也因先前计入产业、厂房与设备的付款，以及一家子公司不一致的计量政策，重列较早的财务报表。数字表中较早年度保留较早年报所印的金额。
Source: annual report 2024, page 14; annual report 2025, pages 65, 116, 157.出处：2024 年年报第 14 页；2025 年年报第 65、116、157 页。
Still to be spent尚未支出的承诺
The 2023 report listed capital expenditure contracted but not provided for of RM3.9 million for the glove business and RM3.4 million for fabrication. Its private-placement utilisation table showed RM5.5 million fully used for bank-borrowing repayments. The later reports give no updated group capital-commitment total or unused-proceeds balance.2023 年报列出的已签约但未拨备资本支出为：手套业务 RM3.9 million，制造业务 RM3.4 million。私人配售资金用途表显示，RM5.5 million 已全部用于偿还银行借款。之后的年报没有列出集团最新资本承诺总额或未动用资金余额。
Source: annual report 2023, pages 55, 157.出处：2023 年年报第 55、157 页。
Four years of figures四年数字
Group figures, in RM, as printed in the statements.集团数字，单位令吉，照财务报表所印。
| Group集团 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| RM令吉 | RM令吉 | RM令吉 | RM令吉 | |
| Revenue营业额 | 78,132,972 | 60,798,062 | 32,584,563 | 54,975,493 |
| Loss before tax税前亏损 | (124,308,133) | (82,698,252) | (85,473,051) | (9,664,644) |
| Loss for the financial period/year本期或本年度亏损 | (124,055,958) | (82,745,163) | (85,814,912) | (9,665,836) |
| Acquisition of property, plant and equipment购置产业、厂房与设备 | (50,341,734) | (5,864,506) | (329,645) | (195,103) |
| Net repayment of term loans and revolving credit定期贷款与循环信贷偿还净额 | (1,494,886) | (36,802,232) | (32,412,351) | (2,233,987) |
| Net repayment of lease liabilities租赁负债偿还净额 | (1,681,536) | (2,017,999) | (3,094,726) | (2,297,639) |
| Net cash from financing activities融资活动现金净额 | 80,797,135 | (5,617,349) | 1,749,190 | – |
| Total assets总资产 | 469,612,481 | 354,913,939 | 214,186,182 | – |
| Total loans and borrowings贷款与借款总额 | 79,962,202 | 45,122,836 | 12,147,239 | 6,413,564 |
| Cash and bank balances现金与银行结余 | 23,809,179 | 5,575,303 | 2,815,477 | 3,178,753 |
| Total equity权益总额 | 337,215,490 | 257,278,091 | 161,891,179 | 147,832,642 |
On a computer, hover over a figure for the report and page it is printed on.在电脑上把鼠标移到数字上，可看到它印在哪份年报的哪一页。
Said and done说过的与做到的
| What the reports said年报说要做的 | What later reports show之后年报显示的 | Status状态 |
|---|---|---|
| The 2023 report expected fabrication and automation revenue in FY2024 to be better than FY2023.2023 年报预计，FY2024 的制造与自动化营业额会好于 FY2023。 | The 2024 report showed segment revenue of RM30.2 million, compared with RM50.3 million in FY2023.2024 年报列出的部门营业额为 RM30.2 million，FY2023 则为 RM50.3 million。 Source: annual report 2023, page 19; annual report 2024, page 12.出处：2023 年年报第 19 页；2024 年年报第 12 页。 | Revenue fell instead营业额反而下降 |
| The 2023 report expected improved financial performance in FY2024, barring unforeseen circumstances.2023 年报预计，若无不可预见情况，FY2024 的财务表现会改善。 | The 2024 report recorded a group loss for the year of RM85.8 million, compared with RM82.7 million in FY2023.2024 年报记录的集团全年亏损为 RM85.8 million，FY2023 则为 RM82.7 million。 Source: annual report 2023, page 19; annual report 2024, page 58.出处：2023 年年报第 19 页；2024 年年报第 58 页。 | Annual loss increased全年亏损增加 |
| The 2024 report said an internal reorganisation plan had begun to transfer selected assets and liabilities between subsidiaries.2024 年报表示，内部重组计划已启动，计划在子公司之间转移部分资产与负债。 | The 2025 report said the internal reorganisation was completed, involving transfers of certain assets and liabilities from ATG to ATES.2025 年报表示，内部重组已完成，涉及把部分资产与负债从 ATG 转至 ATES。 Source: annual report 2024, page 148; annual report 2025, page 153.出处：2024 年年报第 148 页；2025 年年报第 153 页。 | Reorganisation completed重组已完成 |
| The 2024 report said the group intended to dispose of three pieces of leasehold land in Kamunting in the immediate future and was looking for purchasers.2024 年报表示，集团打算在近期出售 Kamunting 的三幅租赁土地，并正在寻找买家。 | The 2025 report said leasehold lands previously held for sale were returned to right-of-use assets. The group no longer intended to sell them and instead held them for long-term capital appreciation.2025 年报表示，先前持作出售的租赁土地已转回使用权资产。集团不再打算出售这些土地，而是持有以待长期资本增值。 Source: annual report 2024, page 121; annual report 2025, page 115.出处：2024 年年报第 121 页；2025 年年报第 115 页。 | Disposal plan changed出售计划已改变 |
| The 2024 report said the group was discussing production of 31 new card profiles with Rieter and was developing 7 card profiles and 4 flat rod profiles.2024 年报表示，集团正与 Rieter 商讨生产 31 种新 card profiles，并在开发 7 种 card profiles 与 4 种 flat rod profiles。 | The 2025 report recorded completion of 38 Card development and progress in Flat Rods. It did not reconcile these developments to the earlier profile lists.2025 年报记录已完成 38 项 Card 开发，Flat Rods 也有进展。年报没有把这些开发成果与先前的型号清单逐项对应。 Source: annual report 2024, page 13; annual report 2025, page 10.出处：2024 年年报第 13 页；2025 年年报第 10 页。 | Development reported; scope not reconciled已报告开发进展；范围未逐项对应 |
What the reports leave open年报留下待看的事
- The 2025 auditors issued a qualified opinion. Records seized by a regulatory authority were unavailable for their review. They could not conclude on the subsidiary's opening property, plant and equipment balances and related transactions and disclosures. Access to those records and the outcome of the investigation remain open.2025 年审计师出具保留意见。监管机构扣押的记录未能供审计师查阅。审计师无法对该子公司的期初产业、厂房与设备结余，以及相关交易和披露作出结论。能否查阅这些记录及调查结果仍未确定。
Source: annual report 2025, pages 163, 164.出处：2025 年年报第 163、164 页。
- The company and AT Precision Tooling are suing Mak Siew Wei for diverting about RM46 million of their funds to third parties. Trial is fixed for 23 to 25 February 2027; no judgment or recovery has been reported.公司与 AT Precision Tooling 正起诉 Mak Siew Wei，指其把两家原告约 RM46 million 资金转至第三方。审讯定于 2027 年 2 月 23 至 25 日；尚无判决或追回款项的报告。
Source: annual report 2025, page 152.出处：2025 年年报第 152 页。
- The latest report stated backlog orders of RM17.4 million. Two major customers owed RM10.3 million at period end. Delivery of the backlog and collection of those balances remain matters for later reporting.最新年报列出的未完成订单为 RM17.4 million。期末两名主要客户欠款为 RM10.3 million。订单交付及这些欠款的收回情况仍待后续报告。
Source: annual report 2025, pages 13, 139.出处：2025 年年报第 13、139 页。
- Investment properties stood at RM67.4 million, including properties transferred from operational use. Of these, RM28.6 million was pledged for banking facilities. Future reporting will show rental income and use of the properties now held for rent or long-term capital appreciation.投资产业为 RM67.4 million，包括从营运用途转入的产业。其中 RM28.6 million 已抵押作银行融资担保。后续报告将显示这些现持作出租或长期资本增值产业的租金收入与使用情况。
Source: annual report 2025, pages 115, 116.出处：2025 年年报第 115、116 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-28.内容为公司年报所印的事实，并注明页码；不评级，不构成投资建议。生成日期 2026-10-28。