DailySpaceNationGate Holdings Berhad
0270 · Main Market主板（Main Market） · annual reports 2023 to 2025, 1420 entries read2023 至 2025 年报，共读出 1420 条
The company这家公司
NationGate Holdings Berhad provides electronic manufacturing services, primarily assembly and testing of electronic components, products, and semiconductor devices. The group operates manufacturing facilities located in Seberang Perai, Pulau Pinang, and Taiping, Perak.NationGate Holdings Berhad 提供电子制造服务，主要从事电子元件、产品及半导体器件的组装与测试。集团在槟城威省与霹雳太平设有多座制造厂房。
Source: annual report 2024, page 143; annual report 2025, pages 14, 117.出处：2024 年年报第 143 页；2025 年年报第 14、117 页。
Data computing contributed 90% of revenue in 2025.2025 年，数据计算业务占营业额 90%。
Source: annual report 2025, page 16.出处：2025 年年报第 16 页。
By customer receivables, four customers accounted for 62% of trade receivables in 2023, one customer accounted for 35% in 2024, and two customers accounted for 79% in 2025. In 2024, there was no single customer that contributed 10% or more of group revenue.在应收账款方面，2023 年有 4 位主要客户占贸易应收账款的 62%，2024 年有 1 位客户占 35%，2025 年有 2 位客户占 79%。2024 年没有单一客户贡献集团营业额的 10% 或以上。
Source: annual report 2024, pages 143, 147; annual report 2025, page 166.出处：2024 年年报第 143、147 页；2025 年年报第 166 页。
Managing Director Dato' Ooi Eng Leong held 1,103,304,300 shares (48.76%) and his spouse Datin Tan Ah Geok held 147,586,100 shares (6.52%) as printed in the 2025 report. Pledged accounts in the thirty largest holders in 2025 included RHB Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Davindra Singh Gendeh with 9,433,500 shares (0.42%) and Public Invest Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Ta Shun Dher (M) with 9,422,600 shares (0.42%).2025 年报显示，董事经理 Dato' Ooi Eng Leong 持有 1,103,304,300 股（48.76%），其配偶 Datin Tan Ah Geok 持有 147,586,100 股（6.52%）。2025 年前三十大股东中的抵押账户包括：RHB Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Davindra Singh Gendeh 持有 9,433,500 股（0.42%），以及 Public Invest Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Ta Shun Dher (M) 持有 9,422,600 股（0.42%）。
Source: annual report 2025, pages 11, 179, 180.出处：2025 年年报第 11、179、180 页。
Dato' Ooi Eng Leong is the spouse of Datin Tan Ah Geok; their son is Ooi Yeuan Xiong, a key senior management member, and their daughter is Ooi Xin Ying. Executive Director cum Chief Operating Officer Lee Kim San's son is Lee See Lun.Dato' Ooi Eng Leong 是 Datin Tan Ah Geok 的配偶；他们的儿子 Ooi Yeuan Xiong 为关键高级管理人员，女儿为 Ooi Xin Ying。执行董事兼首席运营员 Lee Kim San 的儿子为 Lee See Lun。
Source: annual report 2024, page 163; annual report 2025, pages 11, 13.出处：2024 年年报第 163 页；2025 年年报第 11、13 页。
Chew Siew Cheng resigned as company secretary on 29 November 2024, and Tan Gin Ling was appointed on 29 November 2024. Lim Choo Tan resigned as company secretary on 15 January 2025, and Hing Poe Pyng was appointed on 15 January 2025.公司秘书 Chew Siew Cheng 于 2024 年 11 月 29 日辞职，Tan Gin Ling 于 2024 年 11 月 29 日获委任。Lim Choo Tan 于 2025 年 1 月 15 日辞职，Hing Poe Pyng 于 2025 年 1 月 15 日获委任。
Source: annual report 2024, page 3.出处：2024 年年报第 3 页。
Major events大事记
Source: annual report 2023, page 84.出处：2023 年年报第 84 页。
Source: annual report 2023, page 21.出处：2023 年年报第 21 页。
Source: annual report 2024, pages 16, 155.出处：2024 年年报第 16、155 页。
Source: annual report 2024, pages 18, 122.出处：2024 年年报第 18、122 页。
Source: annual report 2024, pages 89, 91.出处：2024 年年报第 89、91 页。
Source: annual report 2024, page 155.出处：2024 年年报第 155 页。
Source: annual report 2025, page 15.出处：2025 年年报第 15 页。
Source: annual report 2025, pages 15, 141.出处：2025 年年报第 15、141 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, borrowings and equity资产、借款与权益
Borrowings and cash借款与现金
20232023 年
In 2023, the company completed its listing on the ACE Market, raising RM165,499,842 from the public issue of shares. Net cash from operating activities was RM147,717,938. Cash was used to repay term loans of RM98,035,873, bankers' acceptances of RM90,362,233, hire purchase of RM23,343,190, and pay dividends of RM36,293,833. Purchase of property, plant and equipment took RM50,067,068.2023 年，公司完成在创业板上市，通过公开发售新股筹得 RM165,499,842。营运活动所得现金净额为 RM147,717,938。资金用于偿还定期贷款 RM98,035,873、银行承兑汇票 RM90,362,233、租购负债 RM23,343,190，并支付股息 RM36,293,833。购买物业、厂房及设备支出 RM50,067,068。
Source: annual report 2023, pages 84, 97, 99, 100.出处：2023 年年报第 84、97、99、100 页。
20242024 年
In 2024, operating cash flow generated was RM735,927,050. The company issued 202,369,310 shares in a private placement raising RM396,643,848, with share issuance expenses of RM3,498,382. Net drawdown of bankers' acceptances was RM871,842,872 and term loan drawings were RM37,820,131. Cash was used for purchase of property, plant and equipment of RM138,287,405, acquisition of a subsidiary for RM25,000,000, hire purchase repayment of RM21,250,706, term loan repayment of RM18,969,388, and dividends paid of RM21,752,120.2024 年，营运活动现金流为 RM735,927,050。公司通过私下配售发行 202,369,310 股筹集 RM396,643,848，配售费用为 RM3,498,382。银行承兑汇票净提取 RM871,842,872，定期贷款提取 RM37,820,131。现金用于购买物业、厂房及设备 RM138,287,405、收购子公司 RM25,000,000、偿还租购负债 RM21,250,706、偿还定期贷款 RM18,969,388，并支付股息 RM21,752,120。
Source: annual report 2024, pages 89, 103, 107, 108, 109, 122.出处：2024 年年报第 89、103、107、108、109、122 页。
20252025 年
In 2025, operating cash flow turned to a net outflow of RM1,034,468,688. Cash was used to repay bankers' acceptances of RM280,919,463, pay dividends of RM45,499,769, repurchase treasury shares for RM14,981,253, repay hire purchase of RM11,181,552, and repay revolving credit of RM10,000,000, while term loan drawings were RM79,806,866. Investing outflows included purchase of property, plant and equipment of RM129,557,324, purchase of investment properties of RM57,506,917, and net cash outflow on acquisition of subsidiaries of RM40,312,538.2025 年，营运活动现金流转为净流出 RM1,034,468,688。资金用于偿还银行承兑汇票 RM280,919,463、支付股息 RM45,499,769、回购库存股 RM14,981,253、偿还租购负债 RM11,181,552 及偿还循环贷款 RM10,000,000，同期提取定期贷款 RM79,806,866。投资流出包括购买物业、厂房及设备 RM129,557,324、购买投资产业 RM57,506,917，以及收购子公司的现金净流出 RM40,312,538。
Source: annual report 2025, pages 110, 126, 127.出处：2025 年年报第 110、126、127 页。
Across the three years三年合看
Across the three reports, revenue expanded from RM638.30 million in 2023 to RM5,270.75 million in 2024 and RM7.61 billion in 2025. Equity increased from RM422.06 million at end 2023 to RM971.85 million in 2024 and RM1,058.79 million in 2025, while total borrowings moved from RM117.30 million to RM998.64 million and then RM740.59 million.三份年报期间，营业额由 2023 年的 RM638.30 million 扩大至 2024 年的 RM5,270.75 million 及 2025 年的 RM7.61 billion。总权益由 2023 年底的 RM422.06 million 增至 2024 年的 RM971.85 million 及 2025 年的 RM1,058.79 million，而总借款由 RM117.30 million 升至 RM998.64 million，随后降至 RM740.59 million。
Source: annual report 2023, page 14; annual report 2024, page 19; annual report 2025, page 31.出处：2023 年年报第 14 页；2024 年年报第 19 页；2025 年年报第 31 页。
Still to be spent尚未支出的承诺
Capital commitments contracted but not provided for rose from RM53,556,644 in 2023 to RM102,275,717 in 2024 and RM113,895,335 in 2025. At end 2025, contracted commitments included RM106,781,002 for buildings and RM3,395,989 for plant and machinery.已签约但未在财务报表拨备的资本承诺由 2023 年的 RM53,556,644 增至 2024 年的 RM102,275,717 及 2025 年的 RM113,895,335。截至 2025 年底，已签约承诺包括建筑物 RM106,781,002 及厂房与机械 RM3,395,989。
Source: annual report 2023, page 131; annual report 2024, page 144; annual report 2025, page 164.出处：2023 年年报第 131 页；2024 年年报第 144 页；2025 年年报第 164 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 | 945,747,703 | 638,296,483 | 5,270,752,988 | 7,612,263,855 |
| Profit before taxation税前盈利 | 104,621,572 | 70,538,425 | 230,704,586 | 196,463,620 |
| Profit for the financial year本年度利润 | – | 60,924,897 | 179,206,788 | 142,290,346 |
| Net cash from operating activities营运活动所得现金净额 | 20,553,105 | 147,717,938 | 735,927,050 | (1,034,468,688) |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (38,329,105) | (50,067,068) | (138,287,405) | (129,557,324) |
| Dividends paid已付股息 | (12,500,000) | (36,293,833) | (21,752,120) | (45,499,769) |
| Total assets总资产 | 762,437,361 | 734,853,839 | 3,737,219,505 | 2,972,213,137 |
| Total liabilities总负债 | 533,391,255 | 312,796,909 | 2,765,365,636 | 1,913,424,796 |
| Total borrowings总借款 | 317,807,154 | 117,303,039 | 998,635,767 | 740,591,261 |
| Cash and bank balances现金与银行结余 | 39,868,699 | 55,914,052 | 1,927,671,274 | 417,511,794 |
| Total equity总权益 | 229,046,106 | 422,056,930 | 971,853,869 | 1,058,788,341 |
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 |
|---|---|---|
| Proposed transfer listing of the entire issued share capital from the ACE Market to the Main Market of Bursa Securities (April 2024)建议将全部已发行股本从马交所创业板转至主板上市（2024 年 4 月） | Completed the transfer of listing to the Main Market on 24 May 2024.于 2024 年 5 月 24 日完成转至主板上市。 Source: annual report 2023, page 140; annual report 2024, pages 16, 155.出处：2023 年年报第 140 页；2024 年年报第 16、155 页。 | Completed已完成 |
| Entered into Share Sale Agreement on 8 February 2024 to acquire Hesechan Industries Sdn Bhd for RM25,000,000, pending completion于 2024 年 2 月 8 日签订股份买卖协议以 RM25,000,000 收购 Hesechan Industries Sdn Bhd，尚待完成 | Completed the acquisition on 21 June 2024 for cash consideration of RM25 million.于 2024 年 6 月 21 日以 RM25 million 现金代价完成收购。 Source: annual report 2023, page 140; annual report 2024, pages 18, 122.出处：2023 年年报第 140 页；2024 年年报第 18、122 页。 | Completed已完成 |
| Entered into Sale and Purchase Agreement on 29 May 2023 to acquire industrial premises from Delta Palma Sdn Bhd for RM10,500,000于 2023 年 5 月 29 日签订买卖协议，以 RM10,500,000 向 Delta Palma Sdn Bhd 收购工业物业 | Reported as in progress in the 2024 report, and completed during financial year 2025.2024 年报中列为进行中，并于 2025 财政年度内完成。 Source: annual report 2023, page 140; annual report 2024, page 128; annual report 2025, pages 135, 147.出处：2023 年年报第 140 页；2024 年年报第 128 页；2025 年年报第 135、147 页。 | Completed in 20252025 年完成 |
| Equipping Plant 7 with rooftop solar panels by 2025计划于 2025 年前为 Plant 7 安装屋顶太阳能板 | The 2025 report states Plant 7 will be equipped with solar panels by 2026.2025 年报表示 Plant 7 将于 2026 年前配备太阳能板。 Source: annual report 2024, page 37; annual report 2025, page 42.出处：2024 年年报第 37 页；2025 年年报第 42 页。 | Target moved to 2026目标推迟至 2026 年 |
| Implemented the Long Term Incentive Plan on 1 December 2023, with no shares granted yet于 2023 年 12 月 1 日实施长期激励计划，截至报告日尚未授予股份 | Granted 2,652,600 ESGP shares in 2024 with 376,900 shares vesting, and issued 965,300 new shares under ESGP in 2025.2024 年授予 2,652,600 股 ESGP 股份且有 376,900 股归属，2025 年根据 ESGP 发行 965,300 股新股。 Source: annual report 2023, page 140; annual report 2024, page 91; annual report 2025, page 110.出处：2023 年年报第 140 页；2024 年年报第 91 页；2025 年年报第 110 页。 | Shares granted and issued已授予并发行股份 |
What the reports leave open年报留下待看的事
- On 14 July 2025 the Malaysian Anti-Corruption Commission issued an order to inspect, search and seize at the premises of subsidiary NationGate Solution (M) Sdn Bhd. The subsidiary was notified on 20 January 2026 that the investigation had been completed and its records were proper, and its earmarked bank account was regularised.2025 年 7 月 14 日，马来西亚反贪污委员会向子公司 NationGate Solution (M) Sdn Bhd 的处所发出检查、搜查及扣押令。该子公司于 2026 年 1 月 20 日接获通知，调查已经完成且其记录妥当，先前被标记的银行账户亦已恢复正常。
Source: annual report 2025, page 175.出处：2025 年年报第 175 页。
- The final purchase price of Valeo Malaysia CDA Sdn Bhd had yet to be determined at the date of the 2025 report as its accounts as at 31 December 2025 were still being audited, with provisional goodwill of RM16,797,973 recognised.截至 2025 年报发布之日，Valeo Malaysia CDA Sdn Bhd 的最终收购价格尚未确定，因其截至 2025 年 12 月 31 日的账目仍在审计中，暂列商誉 RM16,797,973。
Source: annual report 2025, pages 141, 175.出处：2025 年年报第 141、175 页。
- The United States announced a reciprocal tariff with a baseline of 10% on imports worldwide effective 5 April 2025, though management noted direct exports to the US were negligible.美国宣布自 2025 年 4 月 5 日起对全球进口商品加征 10% 的基准对等关税，但管理层指出直接出口至美国的比重微不足道。
Source: annual report 2024, pages 20, 155.出处：2024 年年报第 20、155 页。
- At end 2025, two customers accounted for 79% of trade receivables, compared to one customer accounting for 35% in 2024 and four customers accounting for 62% in 2023.截至 2025 年底，两家客户占贸易应收账款的 79%，而 2024 年有一家客户占 35%，2023 年有四家客户占 62%。
Source: annual report 2024, page 147; annual report 2025, page 166.出处：2024 年年报第 147 页；2025 年年报第 166 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。