DailySpaceJHM Consolidation Berhad
0127 · Main Market主板（Main Market） · annual reports 2023 to 2025, 1224 entries read2023 至 2025 年报，共读出 1224 条
The company这家公司
JHM Consolidation Berhad manufactures automotive LED lighting modules and industrial components including sheet metal enclosures, printed circuit board assemblies, and connector pins.JHM Consolidation Berhad 制造汽车 LED 照明模块以及包括钣金外壳、印刷电路板组装件和连接器插针在内的工业部件。
Source: annual report 2024, page 12; annual report 2025, page 12.出处：2024 年年报第 12 页；2025 年年报第 12 页。
In 2025, the automotive segment contributed 55% of group external revenue, while industrial products contributed 45%.2025 年，汽车分部占集团外部营业额的 55%，工业产品占 45%。
Source: annual report 2025, page 12.出处：2025 年年报第 12 页。
By geographical destination in 2025, revenue from the United States of America was RM176,208,223, Asia Pacific was RM68,395,851, and Malaysia was RM68,151,398.按 2025 年地区划分，来自美利坚合众国的营业额为 RM176,208,223，亚太地区为 RM68,395,851，马来西亚为 RM68,151,398。
Source: annual report 2025, page 118.出处：2025 年年报第 118 页。
Dato’ Seri Tan King Seng holds 192,130,000 shares (31.70%) and a deemed interest of 50,000 shares (0.01%) held through his son, while Noble Matters Sdn. Bhd. holds 67,441,452 shares (11.13%).Dato’ Seri Tan King Seng 持有 192,130,000 股（31.70%），并通过其子视同持有 50,000 股（0.01%）；Noble Matters Sdn. Bhd. 持有 67,441,452 股（11.13%）。
Source: annual report 2025, page 142.出处：2025 年年报第 142 页。
Among pledged securities accounts in 2025, RHB Nominees (Tempatan) Sdn Bhd pledged securities account for Ooi Keng Thye holds 8,796,100 shares (1.45%) and Moomoo Nominees (Tempatan) Sdn. Bhd. pledged securities account for Khow Cheah Yong holds 4,100,000 shares (0.68%).在 2025 年的质押证券账户中，RHB Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Ooi Keng Thye 持有 8,796,100 股（1.45%），Moomoo Nominees (Tempatan) Sdn. Bhd. Pledged Securities Account for Khow Cheah Yong 持有 4,100,000 股（0.68%）。
Source: annual report 2025, page 143.出处：2025 年年报第 143 页。
Executive Director Lim Khai Teng was appointed on 27 February 2023 and resigned on 31 October 2023.执行董事 Lim Khai Teng 于 2023 年 2 月 27 日获委任，并于 2023 年 10 月 31 日辞职。
Source: annual report 2023, pages 10, 56.出处：2023 年年报第 10、56 页。
External revenue by industry segment, 20252025 年各行业分部外部营业额占比
Source: annual report 2025, page 12.出处：2025 年年报第 12 页。
Major events大事记
Source: annual report 2023, page 52.出处：2023 年年报第 52 页。
Source: annual report 2023, page 119.出处：2023 年年报第 119 页。
Source: annual report 2023, page 85.出处：2023 年年报第 85 页。
Source: annual report 2023, page 119.出处：2023 年年报第 119 页。
Source: annual report 2024, page 126.出处：2024 年年报第 126 页。
Source: annual report 2024, page 5.出处：2024 年年报第 5 页。
Source: annual report 2024, page 126.出处：2024 年年报第 126 页。
Source: annual report 2025, page 12.出处：2025 年年报第 12 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Borrowings and cash借款与现金
20232023 年
In 2023, operating activities generated net cash of RM54,905,867. Purchase of property, plant and equipment used RM4,000,163, while the disposal of an associate brought RM1,500,000. Financing activities used net cash of RM36,838,977, which included repayment of term loans of RM5,810,651, repayment of finance lease liabilities of RM6,680,312, and net reductions in short term borrowings of RM21,128,906. Total borrowings closed at RM65,840,878 and cash and bank balances stood at RM72,393,186. No dividend was recommended.2023 年，营运活动产生现金净额 RM54,905,867。购买物业、厂房及设备支出 RM4,000,163，脱售联营公司收回 RM1,500,000。融资活动使用现金净额 RM36,838,977，包括偿还定期贷款 RM5,810,651、偿还融资租赁负债 RM6,680,312 以及短期借款净减少 RM21,128,906。总借款收于 RM65,840,878，现金与银行结余为 RM72,393,186。董事会未建议派发股息。
Source: annual report 2023, pages 13, 64, 69, 92.出处：2023 年年报第 13、64、69、92 页。
20242024 年
In 2024, operating activities generated net cash of RM31,731,969. Purchase of property, plant and equipment took RM17,267,699, and freehold land with a factory building was acquired for RM5,300,000. Financing activities used net cash of RM27,572,490, including repayments of term loans of RM7,316,166, repayments of finance lease liabilities of RM6,292,391, and net reductions in short term borrowings of RM12,159,550, while a term loan of RM4,770,000 was drawn down. Total borrowings fell to RM44,816,713 and cash and bank balances ended at RM67,492,550. No dividend was recommended.2024 年，营运活动产生现金净额 RM31,731,969。购买物业、厂房及设备支出 RM17,267,699，并以 RM5,300,000 收购了一处附带厂房的永久地契土地。融资活动使用现金净额 RM27,572,490，包括偿还定期贷款 RM7,316,166、偿还融资租赁负债 RM6,292,391 以及短期借款净减少 RM12,159,550，同时提取了定期贷款 RM4,770,000。总借款降至 RM44,816,713，现金与银行结余收于 RM67,492,550。董事会未建议派发股息。
Source: annual report 2024, pages 13, 77, 78, 88, 99, 100.出处：2024 年年报第 13、77、78、88、99、100 页。
20252025 年
In 2025, operating activities generated net cash of RM515,333. Purchase of property, plant and equipment took RM46,300,044. Financing activities generated net cash of RM32,690,986, with revolving credit drawings of RM40,652,528 and term loan drawdowns of RM27,710,000, while term loans repaid were RM34,508,093 and finance lease repayments were RM6,231,341. Total borrowings rose to RM84,537,912, and cash and bank balances ended at RM56,482,320. No dividend was recommended.2025 年，营运活动产生现金净额 RM515,333。购买物业、厂房及设备支出 RM46,300,044。融资活动产生现金净额 RM32,690,986，其中循环信贷提取 RM40,652,528，定期贷款提取 RM27,710,000，而偿还定期贷款 RM34,508,093，偿还融资租赁负债 RM6,231,341。总借款升至 RM84,537,912，现金与银行结余收于 RM56,482,320。董事会未建议派发股息。
Source: annual report 2025, pages 13, 87, 92, 93, 114.出处：2025 年年报第 13、87、92、93、114 页。
Across the three years三年合看
Operating cash flows dropped from RM54.9 million in 2023 to RM31.7 million in 2024 and RM0.5 million in 2025, while capital expenditure on property, plant and equipment rose from RM4.0 million in 2023 to RM17.3 million in 2024 and RM46.3 million in 2025. Total borrowings declined from RM85.0 million in 2022 to RM65.8 million in 2023 and RM44.8 million in 2024, before increasing to RM84.5 million in 2025. No dividends were declared or paid in any of the three years. Goodwill impairment testing was performed in each report on goodwill of RM21.53 million allocated to manufacturing.营运现金流从 2023 年的 RM54.9 million 降至 2024 年的 RM31.7 million 和 2025 年的 RM0.5 million，而物业、厂房及设备的资本支出则从 2023 年的 RM4.0 million 增至 2024 年的 RM17.3 million 和 2025 年的 RM46.3 million。总借款从 2022 年底的 RM85.0 million 降至 2023 年的 RM65.8 million 和 2024 年的 RM44.8 million，随后在 2025 年增至 RM84.5 million。三年内均未宣布或派发股息。每份年报均对分配给制造业务的 RM21.53 million 商誉进行了减值评估。
Source: annual report 2023, pages 55, 60; annual report 2024, pages 63, 68; annual report 2025, pages 78, 83.出处：2023 年年报第 55、60 页；2024 年年报第 63、68 页；2025 年年报第 78、83 页。
Still to be spent尚未支出的承诺
At 31 December 2025, contracted capital commitments were RM3,160,306 for plant and machinery and factory equipment and RM21,729 for factory building renovation, totaling RM3,182,035. Unutilised private placement proceeds of RM3,860,000 originally allocated to embedded design were reallocated to general working capital requirements in November 2024.截至 2025 年 12 月 31 日，已签约资本承诺中，厂房机械及工厂设备为 RM3,160,306，厂房装修为 RM21,729，合计 RM3,182,035。原定用于嵌入式设计的 RM3,860,000 未动用私募配售款项已于 2024 年 11 月重新分配至一般营运资金需求。
Source: annual report 2024, page 60; annual report 2025, page 125.出处：2024 年年报第 60 页；2025 年年报第 125 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 | 355,760,894 | 310,725,840 | 221,221,462 | 313,224,780 |
| Profit/(Loss) before tax税前盈利/（亏损） | 36,366,260 | 19,971,343 | (24,138,416) | (10,516,348) |
| Profit/(Loss) for the financial year年度盈利/（亏损） | 21,018,988 | 14,293,057 | (22,890,439) | (10,709,024) |
| Net cash from operating activities营运活动所得现金净额 | 187,436 | 54,905,867 | 31,731,969 | 515,333 |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (25,260,257) | (4,000,163) | (17,267,699) | (46,300,044) |
| Total assets总资产 | 492,213,888 | 468,319,959 | 423,944,018 | 476,655,404 |
| Total borrowings总借款 | 84,955,628 | 65,840,878 | 44,816,713 | 84,537,912 |
| Cash and bank balances现金与银行结余 | 61,941,734 | 72,393,186 | 67,492,550 | 56,482,320 |
| Total equity总权益 | 306,463,851 | 320,756,883 | 297,914,444 | 287,205,420 |
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 |
|---|---|---|
| Expecting more automotive customers to be on board in financial year ending 2024 (eight served in 2023)预计在 2024 财政年度增加汽车客户（2023 年服务八家） | The group served nine automotive customers in 2024 and nine in 2025.集团在 2024 年服务了九家汽车客户，2025 年同样服务九家。 Source: annual report 2023, page 12; annual report 2024, page 13; annual report 2025, page 12.出处：2023 年年报第 12 页；2024 年年报第 13 页；2025 年年报第 12 页。 | Carried out已落实 |
| Engaging with solar photovoltaic system consultants to assess the feasibility of solar installation (2023)与太阳能光伏系统顾问洽商，评估安装太阳能的可行性（2023 年） | Exploring options continued in 2024, and feasibility studies remained underway in 2025.2024 年继续探讨方案，2025 年可行性研究仍在进行中。 Source: annual report 2023, page 35; annual report 2024, page 38; annual report 2025, page 42.出处：2023 年年报第 35 页；2024 年年报第 38 页；2025 年年报第 42 页。 | Still in progress仍在推进 |
| Utilising RM3,860,000 of private placement proceeds for investment in embedded design within 24 months (2023)在 24 个月内将 RM3,860,000 的私募配售款项用于嵌入式设计投资（2023 年） | In November 2024, the board varied the RM3,860,000 proceeds from embedded design to general working capital requirements.2024 年 11 月，董事会将 RM3,860,000 款项从嵌入式设计重新分配至一般营运资金需求。 Source: annual report 2023, page 52; annual report 2024, page 60.出处：2023 年年报第 52 页；2024 年年报第 60 页。 | Reallocated已重新分配 |
| Subsidiary MISB in the process of obtaining ISO 14001 certification (2024)子公司 MISB 正在取得 ISO 14001 认证的过程中（2024 年） | MISB was progressing towards certification with target completion in the second quarter of 2026.MISB 正在推进认证，目标在 2026 年第二季度完成。 Source: annual report 2024, page 36; annual report 2025, page 39.出处：2024 年年报第 36 页；2025 年年报第 39 页。 | Still in progress仍在推进 |
| Forming a joint venture with Jiangsu Dekai Auto Parts Co. Ltd. to design and manufacture automotive lighting products (2023)与 Jiangsu Dekai Auto Parts Co. Ltd. 成立合资企业以设计和制造汽车照明产品（2023 年） | On 27 November 2024 Jiangxi Dekai Auto Lighting Co., Ltd. subscribed for 48% of JDALSB, leaving JHM with 52% rather than the 55% in the memorandum, and the Proton lighting program began mass production through JDAL in December 2025.2024 年 11 月 27 日，Jiangxi Dekai Auto Lighting Co., Ltd. 认购 JDALSB 48% 股权，JHM 持股 52%，而非备忘录所说的 55%；Proton 车灯项目于 2025 年 12 月通过 JDAL 开始量产。 Source: annual report 2023, page 119; annual report 2024, page 5; annual report 2025, page 12.出处：2023 年年报第 119 页；2024 年年报第 5 页；2025 年年报第 12 页。 | Joint venture formed; split 52/48合资公司已成立；持股 52/48 |
What the reports leave open年报留下待看的事
- Target completion of ISO 14001 certification for MISB in the second quarter of 2026, and environmental certification timelines for MHC and JDAL.MISB 目标于 2026 年第二季度完成 ISO 14001 认证，以及 MHC 和 JDAL 的环保认证时间表。
Source: annual report 2025, page 39.出处：2025 年年报第 39 页。
- Execution of contracted capital commitments of RM3,182,035, and planned automation initiatives including warehouse management systems and robotic arms.已签约的 RM3,182,035 资本承诺的执行情况，以及包括仓库管理系统和机械臂在内的自动化计划。
Source: annual report 2025, pages 36, 125.出处：2025 年年报第 36、125 页。
- Ramp-up of the new Proton model lighting program via JDAL and the commencement of additional automotive programs expected in FY2026.通过 JDAL 进行的宝腾新车型照明项目的推进，以及预计在 2026 财政年度启动的其他汽车项目。
Source: annual report 2025, pages 12, 13.出处：2025 年年报第 12、13 页。
- Exposure to tariffs, trade policies, and geopolitical developments in the United States market.来自美利坚合众国市场的关税、贸易政策及地缘政治发展风险。
Source: annual report 2025, page 68.出处：2025 年年报第 68 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。