DailySpaceAppAsia Berhad
0119 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 888 entries read2023 至 2025 年报，共读出 888 条
The company这家公司
AppAsia Berhad operates in digital solutions, e-commerce, financial services, and investment holding. In digital solutions, its subsidiary Extol Corporation Sdn. Bhd. provides the eConfirm electronic bank confirmation platform, and launched eConfirm Global in September 2024. In financial services, subsidiary AppAsia Capital Sdn. Bhd. holds a money lending licence.AppAsia Berhad 经营数码方案、电子商务、金融服务及投资控股业务。在数码方案方面，其子公司 Extol Corporation Sdn. Bhd. 提供 eConfirm 电子银行询证函平台，并于 2024 年 9 月推出 eConfirm Global。在金融服务方面，子公司 AppAsia Capital Sdn. Bhd. 持有放贷牌照。
Source: annual report 2024, pages 27, 32, 104.出处：2024 年年报第 27、32、104 页。
In 2024, external revenue was RM16,125,619 from e-commerce, RM11,989,178 from digital solutions, RM2,113,737 from financial services, and RM114,116 from investment holding and others. In e-commerce, Customer A accounted for RM9,644,387 of revenue in 2024 and RM9,072,710 in 2025.2024 年，来自外部客户的营业额分别为：电子商务 RM16,125,619、数码方案 RM11,989,178、金融服务 RM2,113,737，以及投资控股与其他 RM114,116。在电子商务业务中，客户 A 在 2024 年占营业额 RM9,644,387，在 2025 年占 RM9,072,710。
Source: annual report 2024, pages 131, 134; annual report 2025, page 137.出处：2024 年年报第 131、134 页；2025 年年报第 137 页。
The group predominantly operates in Malaysia, with non-current assets located in Malaysia. At end 2025, 4 customers accounted for approximately 62% of outstanding trade receivables, while at end 2024, 3 customers accounted for approximately 68%.集团主要在马来西亚运营，非流动资产均位于马来西亚。截至 2025 年底，4 位客户约占未收回贸易应收款项的 62%；而在 2024 年底，3 位客户约占 68%。
Source: annual report 2024, pages 133, 136; annual report 2025, pages 136, 139.出处：2024 年年报第 133、136 页；2025 年年报第 136、139 页。
In the 2025 report's analysis of shareholdings, Toh Hong Chye held 276,183,800 shares (20.106%) and a deemed interest in 126,000,000 shares (9.173%); his 276,183,800 shares are in two pledged securities accounts, 216,183,800 shares (15.738%) under Alliancegroup Nominees (Tempatan) Sdn Bhd Pledged Securities Account and 60,000,000 shares (4.368%) under RHB Capital Nominees (Tempatan) Sdn Bhd Pledged Securities Account. Tan Kang Seng held 185,000,000 shares (13.468%) under HLIB Nominees (Tempatan) Sdn Bhd Pledged Securities Account. Toh Hong Chye is the spouse of director Yong Mai Fang; both are directors and shareholders of Richmond Virginia Tobacco Sdn. Bhd., a major shareholder.在 2025 年报的股权分布表中，Toh Hong Chye 持有 276,183,800 股（20.106%），另被视为拥有 126,000,000 股（9.173%）的权益；他的 276,183,800 股分存于两个抵押证券账户： Alliancegroup Nominees (Tempatan) Sdn Bhd 抵押证券账户下的 216,183,800 股（15.738%）及 RHB Capital Nominees (Tempatan) Sdn Bhd 抵押证券账户下的 60,000,000 股（4.368%）。Tan Kang Seng 通过 HLIB Nominees (Tempatan) Sdn Bhd 抵押证券账户持有 185,000,000 股（13.468%）。Toh Hong Chye 是董事 Yong Mai Fang 的配偶；两人皆为主要股东 Richmond Virginia Tobacco Sdn. Bhd. 的董事兼股东。
Source: annual report 2025, pages 12, 13, 147, 148.出处：2025 年年报第 12、13、147、148 页。
George Tan Kan Chin and Huan Soo Wai were appointed to the board on 21 August 2024, and Tan Chiau Wei was appointed on 20 December 2024. Yong Kin Sheng resigned as a subsidiary director on 15 March 2024.George Tan Kan Chin 与 Huan Soo Wai 于 2024 年 8 月 21 日获委任加入董事会，Tan Chiau Wei 于 2024 年 12 月 20 日获委任。Yong Kin Sheng 于 2024 年 3 月 15 日辞任子公司董事。
Source: annual report 2024, pages 20, 22, 43, 64.出处：2024 年年报第 20、22、43、64 页。
External revenue by segment, 20242024 年各部门外部营业额
Source: annual report 2024, page 131.出处：2024 年年报第 131 页。
Major events大事记
Source: annual report 2023, pages 2, 28.出处：2023 年年报第 2、28 页。
Source: annual report 2024, page 32.出处：2024 年年报第 32 页。
Source: annual report 2024, page 108.出处：2024 年年报第 108 页。
Source: annual report 2024, page 27.出处：2024 年年报第 27 页。
Source: annual report 2024, page 27.出处：2024 年年报第 27 页。
Source: annual report 2024, page 142.出处：2024 年年报第 142 页。
Source: annual report 2025, page 112.出处：2025 年年报第 112 页。
Revenue and profit before tax营业额与税前盈利
Assets, liabilities and equity资产、负债与权益
20232023 年
Operating activities generated net cash of RM4,806,341. Capital spending on property, plant and equipment was RM326,234, while proceeds from disposal of property, plant and equipment were RM178,042 and proceeds from disposal of digital assets were RM441,862. The company repurchased 23,826,300 ordinary shares for RM2,802,640. Warrant conversions brought proceeds of RM1,370,112, and payment of lease liabilities was RM393,358. No dividend was proposed or paid.营运活动产生现金净额 RM4,806,341。物业、厂房及设备资本支出为 RM326,234，脱售物业、厂房及设备所得款项为 RM178,042，脱售数字资产所得款项为 RM441,862。公司以 RM2,802,640 回购 23,826,300 股普通股。凭单行使带来所得款项 RM1,370,112，偿还租赁负债为 RM393,358。未建议或派发股息。
Source: annual report 2023, pages 1, 2, 27, 28.出处：2023 年年报第 1、2、27、28 页。
20242024 年
Operating activities used net cash of RM4,685,537. Investing activities used RM1,591,994, including acquisition of property, plant and equipment of RM664,857, acquisition of digital assets of RM1,301,661, and acquisition of shares from non-controlling interests in a subsidiary of RM15,000, while proceeds from disposal of digital assets were RM300,598 and proceeds from disposal of property, plant and equipment were RM29,408. Conversion of warrants brought proceeds of RM11,434,470. Repayment of lease liabilities was RM368,819 and interest paid was RM15,047. No dividend was proposed or paid.营运活动所用现金净额为 RM4,685,537。投资活动使用 RM1,591,994，包括购置物业、厂房及设备 RM664,857、购置数字资产 RM1,301,661，以及向非控股权益收购子公司股份 RM15,000；脱售数字资产所得款项为 RM300,598，脱售物业、厂房及设备所得款项为 RM29,408。凭单行使带来所得款项 RM11,434,470。偿还租赁负债为 RM368,819，已付利息为 RM15,047。未建议或派发股息。
Source: annual report 2024, pages 62, 86, 87.出处：2024 年年报第 62、86、87 页。
20252025 年
Operating activities used net cash of RM2,901,095. Investing activities used net cash of RM2,738,090, including RM900,000 for acquisition of investment in associates, RM3,000,222 for acquisition of digital assets, RM51,201 for acquisition of property, plant and equipment, and RM50,950 for acquisition of investment property, while proceeds from disposal of digital assets were RM1,097,240 and interest received was RM167,043. Proceeds from conversion of share issuance scheme options were RM1,518,900, and purchase of treasury shares took RM1,696,956. Repayment of lease liabilities was RM350,838 and interest paid was RM29,935. No dividend was proposed or paid.营运活动所用现金净额为 RM2,901,095。投资活动所用现金净额为 RM2,738,090，包括收购联营公司投资 RM900,000、购置数字资产 RM3,000,222、购置物业、厂房及设备 RM51,201，以及购置投资产业 RM50,950；脱售数字资产所得款项为 RM1,097,240，收取利息为 RM167,043。转换员工认股计划期权所得款项为 RM1,518,900，购买库存股支出 RM1,696,956。偿还租赁负债为 RM350,838，已付利息为 RM29,935。未建议或派发股息。
Source: annual report 2025, pages 66, 89, 90, 91.出处：2025 年年报第 66、89、90、91 页。
Across the three years三年合看
Across the three reports, no dividends were proposed, declared or paid. The company repurchased shares in two of the three years: RM2,802,640 in 2023 and RM1,696,956 in 2025, with treasury shares standing at 88,168,400 at end 2025. Share issues raised proceeds from warrant conversions of RM1,370,112 in 2023 and RM11,434,470 in 2024, and option exercises of RM1,518,900 in 2025. Money lending loan receivables from third parties were RM12,622,978 in 2023; unsecured loans were RM17,693,597 in 2024 and RM18,715,487 in 2025, with secured loans of RM1,095,044 and RM6,287,401. In 2025, an impairment loss on financial assets of RM1.11 million was recognised on a non-performing loan.三份年报中均未建议、宣布或派发股息。公司在三年中的两年回购股份：2023 年 RM2,802,640 及 2025 年 RM1,696,956，截至 2025 年底库存股为 88,168,400 股。发行股份通过 2023 年凭单转换筹得 RM1,370,112、2024 年筹得 RM11,434,470，以及 2025 年期权行使筹得 RM1,518,900。放贷业务的第三方应收贷款在 2023 年为 RM12,622,978；2024 年与 2025 年的无抵押贷款分别为 RM17,693,597 及 RM18,715,487，有抵押贷款分别为 RM1,095,044 及 RM6,287,401。2025 年因不良贷款确认了 RM1.11 million 的金融资产减值亏损。
Source: annual report 2023, pages 1, 2, 28, 66; annual report 2024, pages 62, 87, 109; annual report 2025, pages 20, 21, 66, 67, 90, 112, 117.出处：2023 年年报第 1、2、28、66 页；2024 年年报第 62、87、109 页；2025 年年报第 20、21、66、67、90、112、117 页。
Still to be spent尚未支出的承诺
The company did not implement any fund raising exercise during the financial years ended 31 December 2024 or 31 December 2025, and did not issue any shares under its general mandate.公司在截至 2024 年 12 月 31 日及 2025 年 12 月 31 日止的财政年度内均未进行任何筹资活动，亦未根据一般授权发行任何股份。
Source: annual report 2024, page 59; annual report 2025, pages 62, 153.出处：2024 年年报第 59 页；2025 年年报第 62、153 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 | – | 22,776,076 | 30,342,650 | 30,753,095 |
| Profit before tax税前盈利 | 1,116,212 | 2,677,910 | 4,023,025 | 3,257,664 |
| Profit for the financial year年度盈利 | (5,219,221) | 1,891,063 | 2,861,628 | 2,042,817 |
| Net cash (used in)/from operating activities营运活动（所用）/所得现金净额 | – | – | (4,685,537) | (2,901,095) |
| Net cash used in investing activities投资活动所用现金净额 | – | – | (1,591,994) | (2,738,090) |
| Total assets总资产 | – | 28,353,330 | 42,261,007 | 43,400,912 |
| Total liabilities总负债 | – | 3,474,710 | 2,633,241 | 2,446,217 |
| Total equity总权益 | – | 24,878,620 | 39,627,766 | 40,954,695 |
| Cash and bank balances现金与银行结余 | 4,718,252 | 7,992,310 | 12,768,060 | 6,559,062 |
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 |
|---|---|---|
| Share Issuance Scheme expiring on 12 March 2025 with 24,900,000 unexercised options at RM0.061 each将于 2025 年 3 月 12 日到期的员工认股计划，尚有 24,900,000 份行使价 RM0.061 的未行使期权 | All 24,900,000 options were exercised on 5 March 2025 for RM1,518,900, leaving no options outstanding at expiry.全部 24,900,000 份期权已于 2025 年 3 月 5 日以 RM1,518,900 行使，到期时无尚未行使期权。 Source: annual report 2024, pages 59, 64, 142; annual report 2025, pages 62, 67.出处：2024 年年报第 59、64、142 页；2025 年年报第 62、67 页。 | Exercised已行使 |
| To expand digital solutions globally in 2025 following the launch of eConfirm Global in September 2024在 2024 年 9 月推出 eConfirm Global 后，于 2025 年向全球推广数码方案 | The 2025 report notes continuing expansion of eConfirm across regional markets, with platform transaction volume rising 7.83%.2025 年报记录了 eConfirm 在区域市场的持续扩展，平台交易量增加 7.83%。 Source: annual report 2024, page 27; annual report 2025, pages 21, 24.出处：2024 年年报第 27 页；2025 年年报第 21、24 页。 | In progress进行中 |
| Board proposed to seek shareholder approval at the AGM to retain Datuk Seri Rahadian Mahmud bin Mohammad Khalil as Independent Director after more than nine years of service (2024)董事会建议在股东大会上寻求股东批准，让任职超过九年的 Datuk Seri Rahadian Mahmud bin Mohammad Khalil 留任独立董事（2024） | In the 2025 report, the board again proposed to seek shareholder approval at the forthcoming AGM to retain him as an Independent Director.在 2025 年报中，董事会再次建议在即将召开的股东大会上寻求股东批准让他留任独立董事。 Source: annual report 2024, page 48; annual report 2025, page 51.出处：2024 年年报第 48 页；2025 年年报第 51 页。 | Proposed again再次建议 |
| Management to continue diversifying the client base to reduce over-reliance on a few major clients (2024)管理层继续拓展客户基础以减少对少数主要客户的过度依赖（2024） | The concentration of trade receivables among top customers moved from 68% across 3 customers in 2024 to 62% across 4 customers in 2025.主要客户的贸易应收款项集中度由 2024 年的 3 位客户占 68% 变为 2025 年的 4 位客户占 62%。 Source: annual report 2024, pages 26, 136; annual report 2025, pages 23, 139.出处：2024 年年报第 26、136 页；2025 年年报第 23、139 页。 | In progress进行中 |
What the reports leave open年报留下待看的事
- Recovery of the non-performing loan in financial services, for which an impairment loss of RM1.11 million was recognised in 2025 and legal action is being pursued.金融服务中不良贷款的收回情况；该贷款在 2025 年确认了 RM1.11 million 的减值亏损，目前正在采取法律行动追讨。
Source: annual report 2025, pages 20, 21.出处：2025 年年报第 20、21 页。
- Customer concentration in e-commerce, where Customer A contributed RM9,072,710 of revenue in 2025 (2024: RM9,644,387), and 4 customers accounted for 62% of trade receivables.电子商务的客户集中度：客户 A 在 2025 年贡献营业额 RM9,072,710（2024 年：RM9,644,387），且 4 位客户占贸易应收款项的 62%。
Source: annual report 2025, pages 137, 139.出处：2025 年年报第 137、139 页。
- Progress of research and development of artificial intelligence solutions at associate AppAsia AI Sdn. Bhd., in which the company acquired a 30% interest for RM900,000 in 2025 and recorded a share of loss of RM33,246.联营公司 AppAsia AI Sdn. Bhd. 的人工智能方案研发进展；公司于 2025 年以 RM900,000 收购其 30% 股权，当年分担亏损 RM33,246。
Source: annual report 2025, pages 20, 82, 112.出处：2025 年年报第 20、82、112 页。
- Unrecognised deferred tax assets on unutilised business losses of RM11,050,284, of which RM8,137,470 expires in 2028.未确认递延税项资产的未动用业务亏损 RM11,050,284，其中 RM8,137,470 将于 2028 年到期。
Source: annual report 2025, page 126.出处：2025 年年报第 126 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。