DailySpaceAlpha IVF Group Berhad
0303 · ACE Market创业板（ACE Market） · annual reports 2024 to 2025, 971 entries read2024 至 2025 年报，共读出 971 条
The company这家公司
Alpha IVF Group provides assisted reproductive services, focusing on in-vitro fertilisation and related technologies. Its services also include diagnostics, testing, screening and the freezing of eggs, sperm and embryos. At the end of the 2025 financial year, its network comprised four IVF centres, two sales offices in China and one satellite clinic in Indonesia.Alpha IVF Group 提供辅助生殖服务，主要是体外受精及相关技术。服务也包括诊断、检测、筛查，以及冷冻卵子、精子和胚胎。截至 2025 财政年度末，其网络包括四家 IVF 中心、两家中国销售办事处和一家印度尼西亚卫星诊所。
Source: annual report 2024, page 24; annual report 2025, pages 3, 9.出处：2024 年年报第 24 页；2025 年年报第 3、9 页。
In 2025, assisted reproductive services contributed 94.6% of group revenue and other services contributed 5.4%. Malaysia operations generated RM157.2 million, Singapore RM19.6 million and Indonesia RM49,982. Foreign patients accounted for 70.0% of Malaysia operations revenue, compared with 60.3% in 2024.2025 年，辅助生殖服务占集团营业额 94.6%，其他服务占 5.4%。马来西亚业务带来 RM157.2 million，新加坡业务为 RM19.6 million，印度尼西亚业务为 RM49,982。外国患者占马来西亚业务营业额 70.0%，2024 年为 60.3%。
Source: annual report 2025, pages 30, 31, 140.出处：2025 年年报第 30、31、140 页。
The 2025 shareholding analysis lists Dato’ Dr. Lee Soon Soo with 1,706,469,942 shares, or 35.112%. Other substantial holders include ACE Specialists Sdn. Bhd. with 9.164%, Lee Soon Ai with 8.913%, Dr. Ng Peng Wah with 8.328% and Dr. Leong Wai Yew with 6.577%.2025 年股权分析列明，Dato’ Dr. Lee Soon Soo 持有 1,706,469,942 股，占 35.112%。其他主要股东包括 ACE Specialists Sdn. Bhd.（9.164%）、Lee Soon Ai（8.913%）、Dr. Ng Peng Wah（8.328%）及 Dr. Leong Wai Yew（6.577%）。
Source: annual report 2025, page 155.出处：2025 年年报第 155 页。
Lee Soon Ai is the sister of Group Managing Director Dato’ Dr. Lee Soon Soo. She owns Samicol, which provides consultancy services to the group. The report also identifies his spouse, Datin Karen Pua Luan Ching, as a director and major shareholder of Germax, from which AIWS purchases drugs and medicine.Lee Soon Ai 是集团董事经理 Dato’ Dr. Lee Soon Soo 的姐妹。她独资拥有 Samicol，该商号向集团提供咨询服务。年报也列明，他的配偶 Datin Karen Pua Luan Ching 是 Germax 的董事及主要股东，AIWS 向 Germax 购买药品。
Source: annual report 2025, pages 89, 90.出处：2025 年年报第 89、90 页。
The 2024 list of largest shareholders includes AMSEC Nominees (Tempatan) Sdn Bhd, Pledged Securities Account - Ambank (M) Berhad For Dato’ Siew Boon Yeong, with 11,427,500 shares, or 0.235%.2024 年最大股东名单包括 AMSEC Nominees (Tempatan) Sdn Bhd，Pledged Securities Account - Ambank (M) Berhad For Dato’ Siew Boon Yeong，持有 11,427,500 股，占 0.235%。
Source: annual report 2024, page 129.出处：2024 年年报第 129 页。
On 5 May 2025, the board announced Kwan Yee Man's appointment as Group Chief Operating Officer (Clinical Operation) and Tan Kay Pau's re-designation as Group Chief Corporate Officer. Fung Ru Huey joined the board as an Independent Non-Executive Director on 1 July 2025. Datuk Lee Say Tshin stated that he would not seek re-election at the October AGM.2025 年 5 月 5 日，董事会宣布委任 Kwan Yee Man 为 Group Chief Operating Officer (Clinical Operation)，并将 Tan Kay Pau 调任为 Group Chief Corporate Officer。Fung Ru Huey 于 2025 年 7 月 1 日加入董事会，担任独立非执行董事。Datuk Lee Say Tshin 表示不会在 10 月的股东周年大会寻求连任。
Source: annual report 2025, pages 18, 71, 158.出处：2025 年年报第 18、71、158 页。
Revenue by operation location, 20252025 年按业务所在地划分的营业额
Source: annual report 2025, page 140.出处：2025 年年报第 140 页。
Major events大事记
Source: annual report 2024, page 100.出处：2024 年年报第 100 页。
Source: annual report 2024, page 100.出处：2024 年年报第 100 页。
Source: annual report 2024, page 125.出处：2024 年年报第 125 页。
Source: annual report 2024, page 100.出处：2024 年年报第 100 页。
Source: annual report 2024, page 29.出处：2024 年年报第 29 页。
Source: annual report 2025, page 32.出处：2025 年年报第 32 页。
Source: annual report 2025, pages 34, 118.出处：2025 年年报第 34、118 页。
Source: annual report 2025, page 33.出处：2025 年年报第 33 页。
Source: annual report 2025, page 7.出处：2025 年年报第 7 页。
Source: annual report 2025, page 34.出处：2025 年年报第 34 页。
Source: annual report 2025, page 153.出处：2025 年年报第 153 页。
Revenue and profit营业额与盈利
Assets, equity and short-term investments资产、权益与短期投资
20242024 年
The report states that operations generated RM59.0 million. The IPO brought in RM116.6 million, and share issuance expenses paid were RM2.4 million. Cash spending included RM8.4 million on equipment and RM31.0 million on other investment. The company paid RM31.4 million in dividends; subsidiaries paid another RM1.8 million to former holding company and non-controlling interests. Loan repayments were RM4.3 million and lease repayments were RM2.5 million.年报表示，营运产生 RM59.0 million。首次公开募股筹得 RM116.6 million，已付股份发行费用为 RM2.4 million。现金支出包括购买设备 RM8.4 million，以及其他投资 RM31.0 million。公司支付股息 RM31.4 million；子公司另向前控股公司及非控股股东支付 RM1.8 million。偿还贷款为 RM4.3 million，偿还租赁负债为 RM2.5 million。
Source: annual report 2024, pages 26, 87.出处：2024 年年报第 26、87 页。
20252025 年
The report states that operations generated RM55.3 million. Equipment purchases used RM7.3 million, additions to right-of-use assets used RM488,224 and lease repayments used RM2.8 million. Subsidiaries received RM2.8 million from issuing share capital to non-controlling interests. Dividends paid during the year were RM46.2 million: RM21.9 million for the previous financial year and RM24.3 million for the current year. A further RM24.3 million dividend for 2025 was paid on 29 August 2025.年报表示，营运产生 RM55.3 million。购买设备支出 RM7.3 million，增加使用权资产支出 RM488,224，偿还租赁负债支出 RM2.8 million。子公司向非控股股东发行股本，收到 RM2.8 million。年内已付股息为 RM46.2 million，包括上一财政年度的 RM21.9 million，以及本财政年度的 RM24.3 million。另一笔属于 2025 年的 RM24.3 million 股息于 2025 年 8 月 29 日支付。
Source: annual report 2025, pages 32, 93, 108, 153.出处：2025 年年报第 32、93、108、153 页。
Across the years跨年合看
Total equity was RM54.6 million in 2023, RM189.8 million in 2024 and RM204.1 million in 2025. Cash and bank balances rose from RM20.0 million to RM22.9 million and then RM34.4 million. Short-term investments were RM27.1 million, RM128.4 million and RM121.4 million respectively. The latest report states that the group had no interest-bearing borrowings; it separately records RM23.5 million of lease liabilities.总权益在 2023 年为 RM54.6 million，2024 年为 RM189.8 million，2025 年为 RM204.1 million。现金与银行结余由 RM20.0 million 升至 RM22.9 million，再升至 RM34.4 million。短期投资分别为 RM27.1 million、RM128.4 million 及 RM121.4 million。最新年报表示集团没有计息借款；报表另列租赁负债 RM23.5 million。
Source: annual report 2024, pages 80, 111; annual report 2025, pages 102, 128, 143.出处：2024 年年报第 80、111 页；2025 年年报第 102、128、143 页。
Still to be spent尚待支出
At 31 May 2025, unused IPO proceeds were RM90.5 million. The remaining allocations included RM19.1 million for two Malaysian specialist centres, RM17.1 million for two Indonesian specialist centres and RM25.4 million for establishing or acquiring centres, satellite clinics and sales offices in Asia. Equipment purchase commitments were RM12.6 million.截至 2025 年 5 月 31 日，未使用的首次公开募股资金为 RM90.5 million。剩余拨款包括两家马来西亚专科中心的 RM19.1 million、两家印度尼西亚专科中心的 RM17.1 million，以及在亚洲设立或收购中心、卫星诊所和销售办事处的 RM25.4 million。购买设备的资本承诺为 RM12.6 million。
Source: annual report 2025, pages 87, 141.出处：2025 年年报第 87、141 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 | 137,479,016 | 167,585,542 | 176,841,603 |
| Profit before taxation税前盈利 | 67,218,866 | 72,012,991 | 76,137,497 |
| Profit after taxation税后盈利 | 54,789,613 | 54,065,575 | 58,562,839 |
| Purchase of equipment购买设备 | (866,229) | (8,414,295) | (7,320,903) |
| Dividend paid已付股息 | 0 | (31,378,590) | (46,170,000) |
| Total assets总资产 | 95,852,692 | 228,265,986 | 250,807,494 |
| Short-term investments短期投资 | 27,050,391 | 128,415,908 | 121,448,736 |
| Cash and bank balances现金与银行结余 | 19,951,929 | 22,906,465 | 34,431,847 |
| Total equity总权益 | 54,554,542 | 189,780,044 | 204,146,478 |
| Lease liabilities租赁负债 | 18,859,452 | 16,080,154 | 23,506,573 |
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 expected the second China sales office to be operational by the end of 2024.2024 年报预计第二家中国销售办事处在 2024 年底前开始运作。 | The Guangzhou office commenced operations on 6 January 2025.广州办事处于 2025 年 1 月 6 日开始运作。 Source: annual report 2024, page 28; annual report 2025, page 33.出处：2024 年年报第 28 页；2025 年年报第 33 页。 | Opened after the stated target晚于所述目标开业 |
| The 2024 report planned two additional Malaysian fertility centres, to be completed by the financial year ending 31 May 2026.2024 年报计划增设两家马来西亚生育中心，并于截至 2026 年 5 月 31 日的财政年度前完成。 | The 2025 report identifies Sabah and Johor as the locations and still expects both centres to be operational by FYE2026.2025 年报列明地点为沙巴和柔佛，仍预计两家中心于 2026 财政年度前投入运作。 Source: annual report 2024, page 11; annual report 2025, page 34.出处：2024 年年报第 11 页；2025 年年报第 34 页。 | Still in progress仍在进行 |
| The 2024 report projected that a full-fledged IVF centre in Bali would commence in 2025.2024 年报预计巴厘岛的一家完整 IVF 中心于 2025 年开始运作。 | The 2025 report describes the centre as being set up. It records the incorporation of PT Alpha IVF Dan SPOG Bali on 18 July 2025, but does not report the centre opening.2025 年报表示该中心仍在筹建，并记载 PT Alpha IVF Dan SPOG Bali 于 2025 年 7 月 18 日成立，但没有报告该中心开业。 Source: annual report 2024, page 29; annual report 2025, pages 33, 153.出处：2024 年年报第 29 页；2025 年年报第 33、153 页。 | Still being set up仍在筹建 |
| The 2024 report planned four satellite clinics in major Indonesian cities.2024 年报计划在印度尼西亚主要城市设立四家卫星诊所。 | Jakarta opened in May 2025 and Surabaya in July 2025. The later report schedules two more clinics for FYE2026.雅加达诊所于 2025 年 5 月开业，泗水诊所于 2025 年 7 月开业。后续年报安排另外两家诊所于 2026 财政年度开业。 Source: annual report 2024, page 29; annual report 2025, pages 7, 34, 36.出处：2024 年年报第 29 页；2025 年年报第 7、34、36 页。 | Two opened; two still planned两家已开业；两家仍在计划中 |
| In 2024, the board committed to a dividend policy of at least 60% of annual profit attributable to shareholders.2024 年，董事会承诺将年度股东应占盈利的至少 60% 用于派息。 | For 2025, the group declared dividends of 1.00 sen per share, totalling RM48.6 million. The report states a payout of 84.6% of profit attributable to shareholders.集团就 2025 年宣布每股 1.00 仙股息，合计 RM48.6 million。年报表示，派息额占股东应占盈利 84.6%。 Source: annual report 2024, page 9; annual report 2025, page 32.出处：2024 年年报第 9 页；2025 年年报第 32 页。 | Declared above the stated minimum已宣布的派息高于所述最低比例 |
What the reports leave open年报留下待看的事
- The Sabah and Johor centres remain under development in the latest report, which expects both to be operational by FYE2026.最新年报中的沙巴和柔佛中心仍在发展中，预计两家均于 2026 财政年度前投入运作。
Source: annual report 2025, page 34.出处：2025 年年报第 34 页。
- The latest report describes centres being set up in Bali, Manila and Tuguegarao. Their opening and start of patient services remain to be reported.最新年报表示正在筹建巴厘岛、马尼拉和 Tuguegarao 中心，尚待报告开业及开始接诊的情况。
Source: annual report 2025, pages 33, 34.出处：2025 年年报第 33、34 页。
- The use of the remaining RM90.5 million of IPO proceeds and the timing of RM12.6 million of equipment purchase commitments remain open.剩余 RM90.5 million 首次公开募股资金的用途执行情况，以及 RM12.6 million 设备购买承诺的支出时间，仍待后续报告。
Source: annual report 2025, pages 87, 141.出处：2025 年年报第 87、141 页。
- The report places the Singapore centre at approximately 20% of capacity. Singapore revenue was RM19.6 million in 2025, compared with RM32.1 million in 2024; subsequent activity at the centre remains to be reported.年报表示，新加坡中心的使用量约为产能的 20%。新加坡营业额在 2025 年为 RM19.6 million，2024 年为 RM32.1 million；该中心后续的业务情况仍待报告。
Source: annual report 2025, pages 30, 140.出处：2025 年年报第 30、140 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。