DailySpaceZen Tech International Berhad
0094 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 1192 entries read2023 至 2025 年报，共读出 1192 条
The company这家公司
Zen Tech International Berhad is listed on the ACE Market of Bursa Malaysia Securities Berhad under the Industrial Products category, and principally operates within Malaysia.Zen Tech International Berhad 在马来西亚股票交易所创业板工业产品类别上市，主要在马来西亚境内经营。
Source: annual report 2023, pages 18, 135.出处：2023 年年报第 18、135 页。
The group's main businesses are the manufacturing of rubber gloves and software development and system integration.集团的主要业务为橡胶手套制造以及软件开发与系统集成服务。
Source: annual report 2023, page 133.出处：2023 年年报第 133 页。
In 2023, rubber gloves brought RM24,142,008 of external revenue and software (software development and system integration) RM7,532,134. In 2024, gloves revenue was RM45.475 million and software RM3.816 million. In the 18 months to 31 December 2025, gloves external sales were RM77,790,400 and software RM1,729,791. A single customer accounted for 52% of trade receivables at the end of 2025 (2024: 72%).2023 年，橡胶手套带来对外营业额 RM24,142,008，软件（软件开发与系统集成）带来 RM7,532,134。2024 年，手套营业额为 RM45.475 million，软件为 RM3.816 million。截至 2025 年 12 月 31 日止 18 个月，手套对外销售为 RM77,790,400，软件为 RM1,729,791。2025 年末单一客户占贸易应收款项的 52%（2024 年：72%）。
Source: annual report 2023, page 134; annual report 2024, page 28; annual report 2025, pages 139, 177.出处：2023 年年报第 134 页；2024 年年报第 28 页；2025 年年报第 139、177 页。
The largest account in the 2025 list of thirty largest holders was a Citigroup nominee account for Kenanga Investors Bhd, with 500,000,000 shares (15.94%). The list names securities accounts, not the owners behind them.2025 年三十大股东名单中最大的账户是代 Kenanga Investors Bhd 持股的 Citigroup 代名人账户，持有 500,000,000 股（15.94%）。该名单列的是证券账户，而非账户背后的实际持有人。
Source: annual report 2025, page 188.出处：2025 年年报第 188 页。
Dato' Zhang Li is the mother of Zhang Yang, a director of the company. On 31 July 2024, Dato' Zhang Li, Siva Kumar Kalugasalam, Edwin Silvester Das, and Zhang Yang were publicly reprimanded and fined by Bursa Malaysia Securities Berhad for breach of Rule 16.13(b) of the ACE Market Listing Requirements.Dato' Zhang Li 是公司董事 Zhang Yang 的母亲。2024 年 7 月 31 日，Dato' Zhang Li、Siva Kumar Kalugasalam、Edwin Silvester Das 及 Zhang Yang 因违反创业板上市规定第 16.13(b) 条遭马来西亚股票交易所公开谴责并罚款。
Source: annual report 2023, page 10; annual report 2025, page 20.出处：2023 年年报第 10 页；2025 年年报第 20 页。
Tan Sri Syed Mohd Yusof Bin Tun Syed Nasir was redesignated from Independent Non-Executive Chairman to Vice Chairman on 30 November 2023, and YAM Tunku Kamariah Aminah Maimunah Iskandariah binti Sultan Iskandar was appointed Independent Non-Executive Chairperson. Tan Sri Syed Mohd Yusof resigned on 26 August 2025, and YAM Tunku Dr. Kamariah resigned on 10 November 2025, leaving the chairperson position vacant.Tan Sri Syed Mohd Yusof Bin Tun Syed Nasir 于 2023 年 11 月 30 日由独立非执行主席调任副主席，YAM Tunku Kamariah Aminah Maimunah Iskandariah binti Sultan Iskandar 获委任为独立非执行主席。Tan Sri Syed Mohd Yusof 于 2025 年 8 月 26 日辞职，YAM Tunku Dr. Kamariah 于 2025 年 11 月 10 日辞职，主席一职随后空缺。
Source: annual report 2024, pages 47, 54; annual report 2025, pages 60, 65.出处：2024 年年报第 47、54 页；2025 年年报第 60、65 页。
External revenue by segment, 2025 (18 months)2025 财政期间（18个月）各分部对外营业额
Source: annual report 2025, page 139.出处：2025 年年报第 139 页。
Major events大事记
Source: annual report 2023, pages 46, 47.出处：2023 年年报第 46、47 页。
Source: annual report 2023, page 47.出处：2023 年年报第 47 页。
Source: annual report 2023, pages 119, 147.出处：2023 年年报第 119、147 页。
Source: annual report 2024, page 47.出处：2024 年年报第 47 页。
Source: annual report 2024, page 30.出处：2024 年年报第 30 页。
Source: annual report 2025, page 20.出处：2025 年年报第 20 页。
Source: annual report 2025, page 110.出处：2025 年年报第 110 页。
Source: annual report 2025, page 65.出处：2025 年年报第 65 页。
Revenue, loss before tax and operating cash flow营业额、税前亏损与营运现金流
Assets, equity and capital spending总资产、总权益与资本开支
20232023 年
Operating cash flow used RM17,817,398 and purchase of property, plant and equipment took RM22,449,171. Financing proceeds included RM24,252,973 from a rights issue, RM9,701,188 from a private placement, RM8,145,534 from a loan settlement share issue, RM1,699,003 from share options, and RM1,616,984 from warrants. The group drew RM4,204,034 of bankers' acceptances and repaid a term loan of RM8,000,000.营运活动使用了 RM17,817,398 现金，添置物业、厂房及设备支出了 RM22,449,171。融资所得款项包括附加股筹得的 RM24,252,973、私下配售的 RM9,701,188、偿还贷款发股的 RM8,145,534、员工认股权的 RM1,699,003 以及凭单行使的 RM1,616,984。集团提取了 RM4,204,034 银行承兑汇票，并偿还了 RM8,000,000 定期贷款。
Source: annual report 2023, page 83.出处：2023 年年报第 83 页。
20242024 年
Purchase of property, plant and equipment took RM4,094,437, while financing activities generated RM7,934,177, including RM3,926,000 from a private placement and RM3,653,626 from share options. Bankers' acceptance drawings of RM8,381,656 were offset by repayments of RM8,442,175. The group impaired goodwill of RM6,319,438 and executed a share capital reduction of RM40,000,000.添置物业、厂房及设备支出了 RM4,094,437，融资活动产生 RM7,934,177，包括私下配售所得 RM3,926,000 及认股权行使所得 RM3,653,626。提取银行承兑汇票 RM8,381,656，偿还 RM8,442,175。集团对 RM6,319,438 商誉计提减值，并实施了 RM40,000,000 的股本削减。
Source: annual report 2024, pages 27, 98, 101, 102.出处：2024 年年报第 27、98、101、102 页。
20252025 年
During the 18 months ended 31 December 2025, operating activities generated RM4,230,142 and purchase of property, plant and equipment took RM3,890,363. The company completed the acquisition of 70% in Alpha Fintech for RM10,000,000 on 17 June 2025, having paid RM6,500,000 as a deposit and funding the balance through a third-party loan. On 20 July 2025, it swapped 40% of Alpha Fintech for 40% of Hiassets Group at an agreed value of RM3,500,000, recognising a loss on disposal of subsidiary of RM3,875,000. Both associate holdings were fully impaired at RM6,125,000, while a profit guarantee receivable of RM2,300,000 was recognised.在截至 2025 年 12 月 31 日止 18 个月中，营运活动产生现金 RM4,230,142，添置物业、厂房及设备支出 RM3,890,363。公司于 2025 年 6 月 17 日完成以 RM10,000,000 收购 Alpha Fintech 70% 股权，此前已支付 RM6,500,000 按金，余款通过第三方贷款支付。2025 年 7 月 20 日，公司以约定价值 RM3,500,000 将 Alpha Fintech 的 40% 股权置换为 Hiassets Group 的 40% 股权，确认脱售子公司亏损 RM3,875,000。两项联营公司持股全额计提减值 RM6,125,000，同时确认了 RM2,300,000 的利润保证应收款项。
Source: annual report 2025, pages 110, 123, 124, 158, 160.出处：2025 年年报第 110、123、124、158、160 页。
Across the three years三年合看
Glove manufacturing expanded to become the main revenue driver, with glove sales recorded at RM24,142,008 in 2023, RM45,474,199 in 2024, and RM77,790,400 in the 18 months of 2025. Financing came primarily from share issues, including a rights issue of RM24,252,973 and private placements raising RM9,701,188 in 2023, RM3,926,000 in 2024, and RM250,651 in 2025. No dividend was recommended or paid across the three reports.手套制造业务扩大成为主要营业额来源，手套销售在 2023 年为 RM24,142,008，2024 年为 RM45,474,199，2025 年 18 个月期间为 RM77,790,400。资金主要来自发股，包括附加股筹集的 RM24,252,973，以及 2023 年私下配售筹得的 RM9,701,188、2024 年的 RM3,926,000 和 2025 年的 RM250,651。三份年报中均未建议或派发股息。
Source: annual report 2023, pages 22, 83, 128; annual report 2024, pages 31, 102, 116; annual report 2025, pages 32, 125, 141.出处：2023 年年报第 22、83、128 页；2024 年年报第 31、102、116 页；2025 年年报第 32、125、141 页。
Still to be spent尚未支出的承诺
Capital commitments approved and not contracted for property, plant and equipment were RM98,000,000 in 2023. In 2024, contracted commitments were RM6,000,000 for capital work-in-progress and RM3,500,000 for investments. At 31 December 2025, both balances were nil.2023 年已批准但未签约的物业、厂房及设备资本承诺为 RM98,000,000。2024 年已签约的在建工程承诺为 RM6,000,000，投资承诺为 RM3,500,000。截至 2025 年 12 月 31 日，两项结余均为零。
Source: annual report 2023, page 144; annual report 2024, page 153; annual report 2025, page 184.出处：2023 年年报第 144 页；2024 年年报第 153 页；2025 年年报第 184 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 | 26,479,924 | 31,674,142 | 49,291,117 | 79,520,191 |
| Loss before taxation税前亏损 | (3,723,200) | (11,288,494) | (10,666,905) | (19,290,234) |
| Net cash from (used in) operating activities营运活动现金流净额 | 7,093,395 | (17,817,398) | (4,332,211) | 4,230,142 |
| Purchase of property, plant and equipment添置物业、厂房及设备 | (18,530,184) | (22,449,171) | (4,094,437) | (3,890,363) |
| Net cash used in investing activities投资活动所用现金净额 | (18,330,184) | (22,004,171) | (4,134,437) | (3,890,363) |
| Net cash from (used in) financing activities融资活动现金流净额 | 11,598,175 | 38,570,284 | 7,934,177 | (481,887) |
| Total assets总资产 | 58,657,682 | 83,629,629 | 74,676,802 | 64,611,248 |
| Total equity总权益 | 31,911,418 | 67,367,950 | 56,557,444 | 37,316,969 |
| Cash and bank balances现金及银行结余 | 1,092,631 | 1,040,030 | 405,434 | 224,421 |
| Fixed deposits with licensed banks定期存款 | 529,250 | 47,400 | 47,400 | 47,400 |
| Proceeds from private placement私下配售所得款项 | 4,610,457 | 9,701,188 | 3,926,000 | 250,651 |
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 |
|---|---|---|
| Two more production lines to be commissioned by the end of FY2024, raising estimated annual capacity of examination gloves to 72,518 (the report prints no unit; current capacity in the same sentence is 55,286 million) (2023)在 2024 财政年度末前调试另外两条生产线，把检查手套的估计年产能提高到 72,518（年报未印单位；同一句中现有产能为 55,286 million）（2023 年） | The 2024 report showed seven production lines with annual capacity of 947 million pieces, expecting two lines by FY2025; two lines were added during the 18 months of 2025 and completed subsequent to period end.2024 年报显示七条生产线年产能为 947 million 只，预计 2025 财政年度前增加两条；2025 年 18 个月期间增加了两条生产线，并在期末后完成。 Source: annual report 2023, page 19; annual report 2024, page 25; annual report 2025, pages 28, 129.出处：2023 年年报第 19 页；2024 年年报第 25 页；2025 年年报第 28、129 页。 | Completed later than said较预期延迟完成 |
| Management expected turnover of approximately RM35 million with approximate net profit of RM4 million for glove manufacturing in the next financial year (2023)管理层预计下一财政年度手套制造业务营业额约 RM35 million，净利润约 RM4 million（2023 年） | In 2024, glove revenue reached RM45.475 million, but the glove manufacturing segment recorded an operating loss of RM1,267,864 and group loss before tax was RM10.666 million.2024 年手套营业额达 RM45.475 million，但手套制造业务录得营运亏损 RM1,267,864，集团税前亏损为 RM10.666 million。 Source: annual report 2023, page 22; annual report 2024, pages 27, 28, 115.出处：2023 年年报第 22 页；2024 年年报第 27、28、115 页。 | Target exceeded in revenue but not in profit营业额达标但录得亏损 |
| Expected a RM8 million turnover from the IT sector with RM2 million in profit in the next financial year (2023)预计下一财政年度 IT 部门营业额为 RM8 million，利润为 RM2 million（2023 年） | In 2024, the IT segment reported revenue of RM3.816 million and operating profit of RM448,698; in the 18 months to December 2025, revenue was RM1,729,791 with an operating loss of RM611,165.2024 年 IT 部门营业额为 RM3.816 million，营运利润为 RM448,698；截至 2025 年 12 月止 18 个月营业额为 RM1,729,791，营运亏损为 RM611,165。 Source: annual report 2023, page 22; annual report 2024, pages 28, 115; annual report 2025, page 139.出处：2023 年年报第 22 页；2024 年年报第 28、115 页；2025 年年报第 139 页。 | Not achieved未达成 |
| Signed an agreement on 2 April 2024 to acquire 70% of Alpha Fintech for RM10.0 million cash, expecting earnings to contribute positively (2024)于 2024 年 4 月 2 日签署协议，以 RM10.0 million 现金收购 Alpha Fintech 70% 股权，预计将带来正面收益（2024 年） | Completed on 17 June 2025, but 40% was swapped on 20 July 2025 for 40% in Hiassets Group; both associate holdings were fully impaired at RM6,125,000 with total loss of RM10,000,000.于 2025 年 6 月 17 日完成，但于 7 月 20 日将 40% 股权换成 Hiassets Group 40% 股权；两家联营公司持股均全额减值 RM6,125,000，合共损失 RM10,000,000。 Source: annual report 2024, page 30; annual report 2025, pages 110, 111.出处：2024 年年报第 30 页；2025 年年报第 110、111 页。 | Acquired, partially swapped, and fully impaired完成收购后部分置换并全额减值 |
| Appointed solicitors to take legal action to recover deposits of RM3,500,000 from Signature Healthland and RM1,000,000 from World Gloves International Group (2023)委任律师采取法律行动，向 Signature Healthland 追讨 RM3,500,000 及向 World Gloves International Group 追讨 RM1,000,000 的按金（2023 年） | Accumulated impairment of deposits stood at RM10,092,700 at 30 June 2024 and RM10,296,235 at 31 December 2025; the later reports as read show no refund.按金累计减值在 2024 年 6 月 30 日为 RM10,092,700，2025 年 12 月 31 日为 RM10,296,235；已读的后续年报未显示任何退款。 Source: annual report 2023, page 147; annual report 2024, page 136; annual report 2025, page 167.出处：2023 年年报第 147 页；2024 年年报第 136 页；2025 年年报第 167 页。 | No recovery shown未见收回 |
What the reports leave open年报留下待看的事
- The 2024 report says the earlier financial statements were misstated and corrects them as prior-year errors: an employee share option expense of RM15,045,038 was left out of FY2023, and the investment in HyperQB was overstated by RM7,675,000. FY2023's loss before tax, printed as RM11,288,494 in the 2023 report and in the table above, is RM26.333 million in the 2024 report.2024 年报指出以往发布的财务报表有误，并以前期差错更正：2023 财年漏记员工认股权费用 RM15,045,038，HyperQB 投资高估 RM7,675,000。2023 财年税前亏损在 2023 年报（及上表）中为 RM11,288,494，在 2024 年报中为 RM26.333 million。
Source: annual report 2024, pages 27, 154.出处：2024 年年报第 27、154 页。
- Material uncertainty related to going concern, with net losses of RM19,517,129 for the 18 months ended 31 December 2025 and net current liabilities of RM8,748,483.持续经营相关的重大不确定性：截至 2025 年 12 月 31 日止 18 个月净亏损 RM19,517,129，流动负债超过流动资产 RM8,748,483。
Source: annual report 2025, pages 111, 178.出处：2025 年年报第 111、178 页。
- Auditors issued a qualified opinion over the acquisition of Alpha Fintech and subsequent swap for Hiassets Group, the aggregate loss of RM10,000,000, and the recoverability of a profit guarantee receivable of RM2,300,000.审计师对收购 Alpha Fintech 及其后置换 Hiassets Group、合共 RM10,000,000 的损失，以及 RM2,300,000 利润保证应收款项的可收回性发表了保留意见。
Source: annual report 2025, pages 110, 111.出处：2025 年年报第 110、111 页。
- The company had no designated chairperson following the resignation of YAM Tunku Dr. Kamariah on 10 November 2025.随着 YAM Tunku Dr. Kamariah 于 2025 年 11 月 10 日辞职后，公司未设指定主席。
Source: annual report 2025, page 60.出处：2025 年年报第 60 页。
- A former director claimed general damages exceeding RM1,000,000 in a defamation suit, with potential maximum exposure noted up to RM4,560,000.前董事在诽谤诉讼中索偿超过 RM1,000,000 的一般赔偿，附注注明最高潜在涉资达 RM4,560,000。
Source: annual report 2025, pages 185, 186.出处：2025 年年报第 185、186 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-24.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 2026-10-24。