DailySpaceSBH Marine Holdings Berhad
0300 · ACE Market创业板（ACE Market） · annual reports 2024 to 2025, 955 entries read2024 至 2025 年报，共读出 955 条
The company这家公司
SBH Marine farms shrimp, processes seafood and trades frozen seafood bought from other producers. It also distributes shrimp feed, post-larvae, probiotics and diagnostic test kits. Its Kurau Plant in Kuala Kurau, Perak has annual processing capacity of 4,800 tonnes and cold storage capacity of 1,000 tonnes.SBH Marine 养殖虾、加工海鲜，并买卖向其他生产商采购的冷冻海鲜。集团也经销虾饲料、虾苗、益生菌及诊断试剂盒。位于霹雳州 Kuala Kurau 的 Kurau Plant 每年加工产能为 4,800 吨，冷库容量为 1,000 吨。
Source: annual report 2024, pages 19, 20.出处：2024 年年报第 19、20 页。
In 2025, processing and sale of frozen seafood brought in about RM150.3 million, approximately 78% of revenue. Merchant trading brought in RM39.5 million, or 20.45%. The report attributes the fall in merchant trading revenue to supply difficulties in Indonesia, where reduced catches caused procurement problems for its supplier.2025 年，冷冻海鲜加工与销售带来约 RM150.3 million，占营业额约 78%。贸易业务带来 RM39.5 million，占 20.45%。年报将贸易营业额下降归因于印尼供应困难，当地渔获减少，导致其供应商采购遇到问题。
Source: annual report 2025, pages 19, 20, 21, 118.出处：2025 年年报第 19、20、21、118 页。
Turkey was the largest country market in 2025, with revenue of RM51.1 million. Taiwan brought in RM34.0 million and Korea RM31.5 million. Customer A accounted for RM51.1 million and Customer B RM19.3 million. The report does not name these customers.2025 年，Turkey 是最大的国家市场，营业额为 RM51.1 million。Taiwan 带来 RM34.0 million，Korea 带来 RM31.5 million。Customer A 的营业额为 RM51.1 million，Customer B 为 RM19.3 million。年报没有列出这些客户的名称。
Source: annual report 2025, page 122.出处：2025 年年报第 122 页。
The 2025 shareholding analysis lists TAN BOO NAM HOLDINGS SDN. BHD. with 160,762,800 shares (18.10%) and TAN BOO NAM with 127,824,426 shares (14.39%). It also lists TAN YUAK MING with 6.84%, TAN YOK JIN with 6.54%, TAN YUAK KWANG with 6.28% and TAN YEOK PING with 5.28%.2025 年股权分析列出，TAN BOO NAM HOLDINGS SDN. BHD. 持有 160,762,800 股（18.10%），TAN BOO NAM 持有 127,824,426 股（14.39%）。表中也列出 TAN YUAK MING 持有 6.84%、TAN YOK JIN 持有 6.54%、TAN YUAK KWANG 持有 6.28%，以及 TAN YEOK PING 持有 5.28%。
Source: annual report 2025, page 135.出处：2025 年年报第 135 页。
Tan Boo Nam is the father of Tan Yuak Ming, Tan Yuak Kwang and Tan Yok Jin. The report also identifies Tan Yeok Ping and Tan Lee San as his children who are not directors.Tan Boo Nam 是 Tan Yuak Ming、Tan Yuak Kwang 及 Tan Yok Jin 的父亲。年报也说明 Tan Yeok Ping 和 Tan Lee San 是他的子女，两人并非董事。
Source: annual report 2025, pages 13, 136.出处：2025 年年报第 13、136 页。
The list of largest shareholders includes PUBLIC NOMINEES (TEMPATAN) SDN BHD PLEDGED SECURITIES ACCOUNT FOR YOUNG CHUAN KIM (E-KTU), with 3,900,000 shares, or 0.44%.最大股东名单包括 PUBLIC NOMINEES (TEMPATAN) SDN BHD PLEDGED SECURITIES ACCOUNT FOR YOUNG CHUAN KIM (E-KTU)，该账户持有 3,900,000 股，占 0.44%。
Source: annual report 2025, page 137.出处：2025 年年报第 137 页。
Revenue by country and region, 20252025 年按国家及地区划分的营业额
Source: annual report 2025, page 122.出处：2025 年年报第 122 页。
Major events大事记
Source: annual report 2025, page 6.出处：2025 年年报第 6 页。
Source: annual report 2025, page 6.出处：2025 年年报第 6 页。
Source: annual report 2025, page 6.出处：2025 年年报第 6 页。
Source: annual report 2025, page 6.出处：2025 年年报第 6 页。
Source: annual report 2025, page 6.出处：2025 年年报第 6 页。
Source: annual report 2024, page 53.出处：2024 年年报第 53 页。
Source: annual report 2024, page 53.出处：2024 年年报第 53 页。
Source: annual report 2025, page 4.出处：2025 年年报第 4 页。
Source: annual report 2025, pages 20, 134.出处：2025 年年报第 20、134 页。
Source: annual report 2025, page 21.出处：2025 年年报第 21 页。
Source: annual report 2025, page 23.出处：2025 年年报第 23 页。
Source: annual report 2025, page 111.出处：2025 年年报第 111 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, equity, cash and borrowings资产、权益、现金与借款
20242024 年
Operations brought in RM11.4 million of cash. The IPO raised RM39.6 million, and the share subscription by PASB brought in RM1.3 million. Cash purchases of property, plant and equipment were RM5.1 million, and dividends paid were RM2.2 million. SPA became wholly owned after the remaining 51% was acquired for RM5.9 million, paid through new shares. Remeasurement of the previously held stake added RM11.5 million to reported profit.营运带来 RM11.4 million 现金。首次公开募股筹得 RM39.6 million，PASB 认购股份带来 RM1.3 million。购买产业、厂房与设备的现金支出为 RM5.1 million，已付股息为 RM2.2 million。集团以发行新股支付 RM5.9 million，收购 SPA 剩余的 51% 股权后，SPA 成为全资子公司。原有股权重新计量带来的 RM11.5 million 收益计入盈利。
Source: annual report 2024, pages 53, 68, 69, 84, 95, 118.出处：2024 年年报第 53、68、69、84、95、118 页。
20252025 年
Operations brought in RM706,474 of cash. Cash spending was RM4.8 million on property, plant and equipment and RM19.9 million on right-of-use assets. Revolving credit drawdowns were RM16.0 million and repayments were RM260,000. The group also repaid RM771,384 of onshore foreign currency loans, RM216,601 of term loans and RM395,577 of lease liabilities. Dividends paid were RM4.4 million. No shares were issued during the year.营运带来 RM706,474 现金。产业、厂房与设备的现金支出为 RM4.8 million，使用权资产的现金支出为 RM19.9 million。循环信贷提款为 RM16.0 million，还款为 RM260,000。集团另偿还境内外币贷款 RM771,384、定期贷款 RM216,601，以及租赁负债 RM395,577。已付股息为 RM4.4 million。年内没有发行股份。
Source: annual report 2025, pages 64, 82, 83.出处：2025 年年报第 64、82、83 页。
Across the years跨年合看
Revenue was RM192.7 million in 2024 and RM193.0 million in 2025. Profit for the year fell from RM3.4 million to RM2.4 million. Operating cash fell from RM11.4 million to RM706,474. Cash and bank balances fell from RM54.5 million to RM41.1 million, while total borrowings, including lease liabilities, rose from RM1.7 million to RM16.1 million.2024 年营业额为 RM192.7 million，2025 年为 RM193.0 million。年度盈利由 RM3.4 million 降至 RM2.4 million。营运现金由 RM11.4 million 降至 RM706,474。现金与银行结余由 RM54.5 million 降至 RM41.1 million，包括租赁负债的总借款则由 RM1.7 million 升至 RM16.1 million。
Source: annual report 2024, page 68; annual report 2025, pages 82, 124.出处：2024 年年报第 68 页；2025 年年报第 82、124 页。
Still to be spent尚待支出
At the end of 2025, unused IPO proceeds were RM23.0 million: RM5.6 million for machinery, equipment and vehicles, RM5.6 million for the new seafood processing plant and RM11.8 million for Selinsing Farm. Capital commitments were RM520,043 contracted but not provided for and RM23.0 million approved but not contracted for.2025 年底，未使用的首次公开募股资金为 RM23.0 million：机械、设备及车辆占 RM5.6 million，新海鲜加工厂占 RM5.6 million，Selinsing Farm 占 RM11.8 million。资本承诺包括已签约但未拨备的 RM520,043，以及已批准但未签约的 RM23.0 million。
Source: annual report 2025, pages 61, 110.出处：2025 年年报第 61、110 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 | 2023 | 2024 | 2025 |
|---|---|---|---|
| RM令吉 | RM令吉 | RM令吉 | |
| Revenue营业额 | 191,320,020 | 192,728,372 | 192,957,193 |
| Profit before tax税前盈利 | 17,346,473 | 8,810,379 | 4,228,452 |
| Profit for the financial year年度盈利 | 12,500,241 | 3,384,451 | 2,405,918 |
| Net cash from operating activities营运活动所得现金净额 | 1,276,865 | 11,370,910 | 706,474 |
| Cash purchase of property, plant and equipment购买产业、厂房与设备的现金支出 | 399,034 | 5,050,164 | 4,848,482 |
| Dividends paid已付股息 | 8,000,000 | 2,220,000 | 4,440,000 |
| Total assets总资产 | 115,411,916 | 166,910,267 | 174,854,246 |
| Total borrowings总借款 | 2,109,464 | 1,675,830 | 16,093,205 |
| Cash and bank balances现金与银行结余 | 9,953,480 | 54,450,817 | 41,086,018 |
| Total equity总权益 | 86,075,898 | 128,167,262 | 128,353,180 |
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 2024 report planned another 66 ponds at Selinsing Farm by 2027, alongside 43 existing ponds.2024 年报计划在已有 43 个虾池之外，于 2027 年前在 Selinsing Farm 再开发 66 个虾池。 | The 2025 report lists 62 completed ponds and 47 remaining ponds to be developed by 2027. It says 29 ponds were stocked and in cultivation at year end.2025 年报列出已建成 62 个虾池，余下 47 个计划于 2027 年前开发。年报表示年底有 29 个已投苗养殖。 Source: annual report 2024, page 4; annual report 2025, pages 4, 21.出处：2024 年年报第 4 页；2025 年年报第 4、21 页。 | Still in progress仍在进行 |
| The 2024 report described an upcoming processing plant with annual capacity of 4,000 tonnes. Its IPO allocation allowed 24 months for construction.2024 年报介绍一座拟建的加工厂，年产能为 4,000 吨。首次公开募股资金用途表列出的建设期限为 24 个月。 | The 2025 report still calls the plant upcoming. Of the RM6.5 million IPO allocation, RM911,000 had been used and RM5.6 million remained unused.2025 年报仍将该厂列为拟建项目。RM6.5 million 的首次公开募股拨款中，已使用 RM911,000，尚余 RM5.6 million 未使用。 Source: annual report 2024, pages 4, 48; annual report 2025, pages 4, 61.出处：2024 年年报第 4、48 页；2025 年年报第 4、61 页。 | Still in progress仍在进行 |
| The 2024 report expected the new hatchery to reduce dependence on outside suppliers of shrimp post-larvae.2024 年报预期新孵化中心可减少对外部虾苗供应商的依赖。 | The 2025 report says the operating hatchery has made the farming business less reliant on outside post-larvae supply.2025 年报表示，已投入营运的孵化中心使养殖业务减少了对外部虾苗供应的依赖。 Source: annual report 2024, page 22; annual report 2025, page 22.出处：2024 年年报第 22 页；2025 年年报第 22 页。 | Reduced reliance reported年报称依赖已减少 |
| The 2024 report expected the Kurau rooftop solar project to begin rollout in 2026.2024 年报预计 Kurau 屋顶太阳能项目于 2026 年开始实施。 | The 2025 report says installation began in early 2026 and operation was expected in the second quarter of 2026.2025 年报表示，安装于 2026 年初开始，预计在 2026 年第二季度投入运作。 Source: annual report 2024, page 26; annual report 2025, page 23.出处：2024 年年报第 26 页；2025 年年报第 23 页。 | Installation begun已开始安装 |
| The 2024 report said the group was assessing digital traceability systems for its farm-to-factory supply chain.2024 年报表示，集团正在评估用于养殖场至工厂供应链的数字追溯系统。 | The 2025 report still describes digital traceability as something being explored and an adoption goal.2025 年报仍将数字追溯列为正在探索的方案及采用目标。 Source: annual report 2024, page 28; annual report 2025, page 35.出处：2024 年年报第 28 页；2025 年年报第 35 页。 | Still being explored仍在探索 |
What the reports leave open年报留下待看的事
- The 2025 report schedules 47 further Selinsing ponds for 2027. It records 62 completed ponds and 29 stocked and in cultivation at year end.2025 年报计划于 2027 年完成 Selinsing 余下 47 个虾池。年报记录年底已建成 62 个虾池，其中 29 个已投苗养殖。
Source: annual report 2025, pages 21, 28.出处：2025 年年报第 21、28 页。
- The upcoming processing plant near the existing plant remains in the plans. The newly acquired Penang site is earmarked for a second processing plant and cold storage facility.现有工厂附近的拟建加工厂仍在计划中。新收购的 Penang 土地拟用于建设第二座加工厂及冷库。
Source: annual report 2025, pages 4, 20, 134.出处：2025 年年报第 4、20、134 页。
- Trade receivables were RM20.7 million after impairment allowances of RM862,193. About 56% was due from two major customers based in South Korea. The auditors identified trade receivable impairment as a key audit matter.贸易应收款扣除 RM862,193 减值拨备后为 RM20.7 million。其中约 56% 来自两家位于 South Korea 的主要客户。审计师将贸易应收款减值列为关键审计事项。
Source: annual report 2025, pages 71, 126.出处：2025 年年报第 71、126 页。
- SPA's appeal against the additional tax assessment remained pending an IRB decision in the 2025 report.2025 年报披露，SPA 就额外税务评估提出的上诉仍在等待 IRB 决定。
Source: annual report 2025, page 111.出处：2025 年年报第 111 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。