DailySpaceZantat Holdings Berhad
0301 · ACE Market创业板（ACE Market） · annual reports 2024 to 2025, 1335 entries read2024 至 2025 年报，共读出 1335 条
The company这家公司
Zantat Holdings Berhad produces calcium carbonate products, including ground calcium carbonate (GCC) and calcium carbonate dispersion, and manufactures bioplastic compounds through Zaneco Sdn Bhd.Zantat Holdings Berhad 生产碳酸钙产品，包括重质碳酸钙（GCC）及碳酸钙分散体，并通过 Zaneco Sdn Bhd 制造生物塑料复合材料。
Source: annual report 2024, page 12; annual report 2025, page 118.出处：2024 年年报第 12 页；2025 年年报第 118 页。
In 2025, revenue from ground calcium carbonate (GCC) was RM71.0 million, compared to RM83.6 million in 2024. Calcium carbonate dispersion contributed RM12.3 million (2024: RM12.2 million), granulated calcium carbonate contributed RM2.7 million, and kaolin dispersion contributed RM1.6 million (2024: RM1.5 million).2025 年，重质碳酸钙（GCC）营业额为 RM71.0 million，而 2024 年为 RM83.6 million。碳酸钙分散体贡献 RM12.3 million（2024 年：RM12.2 million），颗粒碳酸钙贡献 RM2.7 million，高岭土分散体贡献 RM1.6 million（2024 年：RM1.5 million）。
Source: annual report 2024, page 27; annual report 2025, page 27.出处：2024 年年报第 27 页；2025 年年报第 27 页。
In the 2025 report, CLHF Resources Sdn Bhd held 110,506,600 shares (38.807%), Teh Ah Soon @ Teh Soon Tick held 17,648,000 shares (6.197%), and Chan Eng Hue held 14,576,000 shares (5.118%). Pledged securities accounts held shares for Lee Mei Choon (7,735,500 shares, 2.716%) and Chan Jee Yang (7,735,500 shares, 2.716%). In the 2024 report, CLHF Resources Sdn Bhd held 110,506,600 shares (38.81%), Teh Ah Soon @ Teh Soon Tick held 18,648,000 shares (6.55%), and Chan Eng Hue held 16,576,000 shares (5.82%).在 2025 年报中，CLHF Resources Sdn Bhd 持有 110,506,600 股（38.807%），Teh Ah Soon @ Teh Soon Tick 持有 17,648,000 股（6.197%），Chan Eng Hue 持有 14,576,000 股（5.118%）。抵押证券账户分别持有 Lee Mei Choon（7,735,500 股，2.716%）与 Chan Jee Yang（7,735,500 股，2.716%）的股份。在 2024 年报中，CLHF Resources Sdn Bhd 持有 110,506,600 股（38.81%），Teh Ah Soon @ Teh Soon Tick 持有 18,648,000 股（6.55%），Chan Eng Hue 持有 16,576,000 股（5.82%）。
Source: annual report 2024, page 208; annual report 2025, page 219.出处：2024 年年报第 208 页；2025 年年报第 219 页。
Chan Bin Iuan, Chan Jee Chet, and Chan Jee Yang are brothers and sons of Chan Hup Ooi; Chan Eng Hue is their uncle, and Aw Ee Ling is their cousin. Lee Mei Choon is the spouse of Chan Hup Ooi. On 1 January 2026, Chan Hup Ooi resigned as Non-Independent Non-Executive Deputy Chairman, Chan Bin Iuan was redesignated as Executive Vice Chairman, Chan Jee Chet became Managing Director, and Chan Jee Yang was appointed as Executive Director.Chan Bin Iuan、Chan Jee Chet 与 Chan Jee Yang 是兄弟，同为 Chan Hup Ooi 之子；Chan Eng Hue 是他们的叔父，Aw Ee Ling 是他们的表亲。Lee Mei Choon 是 Chan Hup Ooi 的配偶。2026 年 1 月 1 日，Chan Hup Ooi 辞任非独立非执行副主席，Chan Bin Iuan 调任为执行副主席，Chan Jee Chet 成为董事经理，Chan Jee Yang 获委任为执行董事。
Source: annual report 2024, pages 109, 110, 111, 137; annual report 2025, pages 20, 117, 120.出处：2024 年年报第 109、110、111、137 页；2025 年年报第 20、117、120 页。
Revenue by destination, 20252025 年按目的地划分的营业额
Source: annual report 2025, page 196.出处：2025 年年报第 196 页。
Major events大事记
Source: annual report 2024, pages 13, 136.出处：2024 年年报第 13、136 页。
Source: annual report 2024, page 139.出处：2024 年年报第 139 页。
Source: annual report 2024, page 13.出处：2024 年年报第 13 页。
Source: annual report 2025, page 146.出处：2025 年年报第 146 页。
Source: annual report 2025, page 146.出处：2025 年年报第 146 页。
Source: annual report 2025, pages 60, 78.出处：2025 年年报第 60、78 页。
Source: annual report 2025, page 171.出处：2025 年年报第 171 页。
Source: annual report 2025, pages 19, 22.出处：2025 年年报第 19、22 页。
Source: annual report 2025, pages 20, 117.出处：2025 年年报第 20、117 页。
Revenue, profit and operating cash营业额、盈利与营运现金
Assets, liabilities and equity资产、负债与权益
20242024 年
In 2024, the company was listed on the ACE Market of Bursa Malaysia on 27 March 2024, issuing 56,000,000 new ordinary shares at RM0.25 per share to raise RM14.0 million. Net cash from operating activities was RM9,128,124. Purchase of property, plant and equipment took RM10,802,996. An interim single-tier dividend of 1.5 sen per share amounting to RM4,200,000 was paid on 25 June 2024. Repayments of term loans were RM4,983,974 while proceeds from drawdown of term loans were RM2,222,925.2024 年，公司于 2024 年 3 月 27 日在马来西亚交易所创业板上市，以每股 RM0.25 发行 56,000,000 股新普通股，筹集 RM14.0 million。营运活动所得现金净额为 RM9,128,124。购买物业、厂房及设备支出 RM10,802,996。2024 年 6 月 25 日派发了每股 1.5 仙、总额 RM4,200,000 的单层中期股息。偿还定期贷款 RM4,983,974，提取定期贷款所得款项为 RM2,222,925。
Source: annual report 2024, pages 136, 139, 154, 155.出处：2024 年年报第 136、139、154、155 页。
20252025 年
In 2025, the company issued 4,753,400 special issue shares at RM0.335 each, raising proceeds of RM1,592,389. The group slipped into a loss after taxation of RM5,459,118, which included an impairment loss of RM2,300,000 on plant and equipment. Net cash used in operating activities was RM3,584,906. Purchase of property, plant and equipment took RM3,951,036. Term loan drawdowns were RM1,226,582 and repayments were RM2,603,318, while net drawdown of revolving credits was RM1,200,000. No dividend was recommended.2025 年，公司以每股 RM0.335 发行 4,753,400 股特别发行股份，筹资 RM1,592,389。集团录得税后亏损 RM5,459,118，其中包括厂房及设备减值亏损 RM2,300,000。营运活动所用现金净额为 RM3,584,906。购买物业、厂房及设备支出 RM3,951,036。定期贷款提取 RM1,226,582，偿还 RM2,603,318，同时循环信贷净提取 RM1,200,000。未建议派发股息。
Source: annual report 2025, pages 146, 149, 161, 163, 164.出处：2025 年年报第 146、149、161、163、164 页。
Across the two years两年合看
Across the two years, the group raised RM14.0 million from its public issue and RM1,592,389 from its special issue. Capital spending included RM8.5 million invested in the Poly+Cal Lab and RM1.4 million to install 849 kWp of solar capacity at Perak Plant 2. Total debts were RM10,706,333 at the end of 2024; corporate guarantees for the subsidiaries' outstanding banking facilities were RM13,202,380 at the end of 2025.两年合看，集团通过公开发行筹集 RM14.0 million，通过特别发行筹集 RM1,592,389。资本支出包括向 Poly+Cal 实验室投资 RM8.5 million，以及耗资 RM1.4 million 在霹雳第二厂安装 849 kWp 太阳能发电设施。2024 年底总债务为 RM10,706,333；2025 年底为子公司未偿银行融资提供的公司担保为 RM13,202,380。
Source: annual report 2024, pages 136, 201; annual report 2025, pages 24, 60, 161, 202.出处：2024 年年报第 136、201 页；2025 年年报第 24、60、161、202 页。
Still to be spent尚未支出的承诺
Capital commitments approved and contracted for property, plant and equipment were RM2,584,577 at the end of 2024 and RM1,256,973 at the end of 2025. From the RM14.0 million IPO proceeds, RM2.9 million remained unutilised in the 2025 report, and the timeframe for utilisation was extended by an additional 18 months of up to 30 months from the listing date.已批准并签约的物业、厂房及设备资本承诺在 2024 年底为 RM2,584,577，2025 年底为 RM1,256,973。在 RM14.0 million 的 IPO 募资中，2025 年年报显示尚有 RM2.9 million 未动用，使用期限自上市日起延长 18 个月至最多 30 个月。
Source: annual report 2024, page 188; annual report 2025, pages 146, 147, 197.出处：2024 年年报第 188 页；2025 年年报第 146、147、197 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 | 122,795,624 | 101,877,229 | 92,198,482 |
| Profit/(Loss) before taxation税前盈利/（亏损） | 9,609,257 | 2,471,569 | (5,556,775) |
| Profit/(Loss) after taxation税后盈利/（亏损） | 6,768,963 | 454,184 | (5,459,118) |
| Net cash from/(for) operating activities营运活动所得/（所用）现金净额 | 16,435,079 | 9,128,124 | (3,584,906) |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (2,098,884) | (10,802,996) | (3,951,036) |
| Dividend paid已付股息 | 0 | (4,200,000) | 0 |
| Total assets总资产 | 95,866,301 | 103,889,516 | 98,807,660 |
| Total liabilities总负债 | 31,697,850 | 30,523,242 | 29,342,511 |
| Total equity总权益 | 64,168,451 | 73,366,274 | 69,465,149 |
| Short-term investments短期投资 | 1,411,767 | 9,354,881 | 5,758,523 |
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 |
|---|---|---|
| Allocate RM1.0 million of IPO proceeds to upgrade Calrock Perak Plant's infrastructure within 12 months在 12 个月内动用 RM1.0 million 的 IPO 募资升级 Calrock 霹雳厂房基础设施 | Most of the allocation remained unutilised in the 2025 report, with the utilisation timeframe extended to 30 months from listing.2025 年年报显示大部分资金尚未动用，使用期限已延长至上市起 30 个月。 Source: annual report 2024, pages 27, 136; annual report 2025, page 146.出处：2024 年年报第 27、136 页；2025 年年报第 146 页。 | Timeframe extended to 30 months期限延长至 30 个月 |
| Allocate RM3.8 million of IPO proceeds to upgrade existing R&D facilities within 12 months在 12 个月内动用 RM3.8 million 的 IPO 募资升级现有研发设施 | RM2.3 million was utilised and RM1.5 million remained unutilised in the 2025 report, with the timeframe extended to 30 months from listing.2025 年年报显示已动用 RM2.3 million，尚有 RM1.5 million 未动用，使用期限延长至上市起 30 个月。 Source: annual report 2024, pages 27, 136; annual report 2025, pages 19, 24, 146.出处：2024 年年报第 27、136 页；2025 年年报第 19、24、146 页。 | Timeframe extended to 30 months期限延长至 30 个月 |
| Allocate RM1.4 million of IPO proceeds to purchase and install automated packaging machines and high-efficiency motors within 6 months在 6 个月内动用 RM1.4 million 的 IPO 募资购买并安装自动包装机与高效电机 | The remaining unused funds were transferred to working capital, fully deploying the machine investment proceeds.余下未动用资金转入营运资金，机器投资募资全数完成分配。 Source: annual report 2024, pages 27, 136; annual report 2025, page 146.出处：2024 年年报第 27、136 页；2025 年年报第 146 页。 | Completed with funds reallocated完成，余款重新调配 |
| Issue up to 40,000,000 new shares to Bumiputera investors under a special issue approved on 4 November 2024根据 2024 年 11 月 4 日获批的特别发行，向土著投资者发行最多 40,000,000 股新股 | A total of 4,753,400 special issue shares were listed at RM0.335 each on 4 February 2025, and the issue was deemed completed.合共 4,753,400 股特别发行股份于 2025 年 2 月 4 日以每股 RM0.335 上市，该发行被视为已完成。 Source: annual report 2024, pages 136, 206; annual report 2025, pages 146, 153.出处：2024 年年报第 136、206 页；2025 年年报第 146、153 页。 | Completed at 4,753,400 shares以 4,753,400 股完成 |
| Expand solar capacity to 2 MWp across the Perak and Calrock plants by 2026到 2026 年将霹雳和 Calrock 厂房的太阳能装机容量扩大至 2 MWp | An additional 849 kWp solar photovoltaic system was commissioned at Perak Plant 2 in April 2025.霹雳第二厂增设的 849 kWp 太阳能光伏系统于 2025 年 4 月投入运作。 Source: annual report 2024, pages 67, 77; annual report 2025, pages 29, 60, 78.出处：2024 年年报第 67、77 页；2025 年年报第 29、60、78 页。 | 849 kWp installed; 2 MWp target ongoing已安装 849 kWp；2 MWp 目标推进中 |
| Collaborate with local converters to develop downstream finished goods including compostable waste bags and packaging solutions与本地加工商合作开发包括可堆肥垃圾袋和包装方案在内的下游制成品 | Expanded the Earthya product portfolio with garbage bags, food waste bags, straws, and produce bags, placing them on e-commerce platforms and in pharmacy stores.扩大了 Earthya 产品组合，增加垃圾袋、厨余袋、吸管和生鲜袋，并在电商平台及药房门店上架销售。 Source: annual report 2024, page 30; annual report 2025, page 24.出处：2024 年年报第 30 页；2025 年年报第 24 页。 | Carried out已执行 |
What the reports leave open年报留下待看的事
- Whether export demand in India recovers, after revenue from India fell from RM71.2 million in 2023 to RM48.3 million in 2024, with a further slowdown in 2025.在来自印度的营业额由 2023 年的 RM71.2 million 降至 2024 年的 RM48.3 million、2025 年进一步放缓之后，印度的出口需求能否恢复。
Source: annual report 2024, page 25; annual report 2025, pages 21, 27, 196.出处：2024 年年报第 25 页；2025 年年报第 21、27、196 页。
- How the remaining RM2.9 million of unutilised IPO proceeds is deployed before the extended 30-month deadline from listing.余下的 RM2.9 million 未动用 IPO 募资在上市起延长的 30 个月期限前如何落实使用。
Source: annual report 2025, page 146.出处：2025 年年报第 146 页。
- The commercial adoption of Earthya compostable bioplastics and customer qualification efforts following the launch of the RM8.5 million Poly+Cal Innovation Lab.在耗资 RM8.5 million 的 Poly+Cal 创新实验室启用后，Earthya 可堆肥生物塑料的商业普及与客户认证进展。
Source: annual report 2025, pages 19, 23, 24.出处：2025 年年报第 19、23、24 页。
- The return to profitability after the group incurred a net loss of RM5.5 million in 2025, which included an impairment loss of RM2.3 million on plant and equipment.在集团于 2025 年录得 RM5.5 million 净亏损（其中包括厂房及设备减值亏损 RM2.3 million）之后，能否恢复盈利。
Source: annual report 2025, pages 18, 26, 163, 175.出处：2025 年年报第 18、26、163、175 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-30.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 2026-10-30。