DailySpaceBWYS Group Berhad
0313 · ACE Market创业板（ACE Market） · annual reports 2024 to 2025, 925 entries read2024 至 2025 年报，共读出 925 条
The company这家公司
BWYS manufactures roofing sheets and trusses, industrial racking systems and welded pipes. It also sells and rents scaffoldings and trades steel materials and related products. Its racking services cover design, manufacturing, delivery and installation. It also manufactures racking systems for export customers under OEM arrangements.BWYS 制造屋面板与屋架、工业货架系统及焊管，也销售和出租脚手架，并买卖钢材及相关产品。货架服务涵盖设计、制造、交付和安装，也按 OEM 安排为出口客户制造货架系统。
Source: annual report 2025, pages 5, 19, 20.出处：2025 年年报第 5、19、20 页。
In 2025, sheet metal products contributed 64.9% of revenue: roofing sheets and trusses 43.8%, industrial racking systems 11.3% and welded pipes 9.8%. No customer accounted for 10% or more of group revenue.2025 年，钣金产品占营业额 64.9%：屋面板与屋架占 43.8%，工业货架系统占 11.3%，焊管占 9.8%。没有客户占集团营业额的 10% 或以上。
Source: annual report 2025, pages 22, 131, 137.出处：2025 年年报第 22、131、137 页。
The 2025 shareholding analysis lists KANG BENG HAI with 668,910,000 shares, or 65.246%, and ONG SEOW YAN with 876,000 shares, or 0.085%. Their indirect interests are through each other's shareholdings as spouses. Kang Beng Hai is the Managing Director and the father of Kang Yi Ki, the Non-Independent Executive Director.2025 年报的股权分析列明，KANG BENG HAI 持有 668,910,000 股，占 65.246%；ONG SEOW YAN 持有 876,000 股，占 0.085%。两人的间接权益来自各自配偶的持股。Kang Beng Hai 是董事经理，也是非独立执行董事 Kang Yi Ki 的父亲。
Source: annual report 2025, pages 12, 13, 151.出处：2025 年年报第 12、13、151 页。
Ong Seow Yan resigned on 26 March 2025. The Nomination Committee reviewed the Chief Financial Officer's resignation on 28 November 2025. Looi Woon Seng resigned on 2 January 2026.Ong Seow Yan 于 2025 年 3 月 26 日辞职。提名委员会于 2025 年 11 月 28 日审议了财务总监的辞职。Looi Woon Seng 于 2026 年 1 月 2 日辞职。
Source: annual report 2024, page 72; annual report 2025, pages 65, 86.出处：2024 年年报第 72 页；2025 年年报第 65、86 页。
The 2025 list records pledged securities accounts under MAYBANK NOMINEES (TEMPATAN) SDN BHD for KANG BENG HAI, with 50,000,000 shares (4.877%), and SILVER MAXLINK SDN BHD, with 21,874,500 shares (2.134%). RHB NOMINEES (TEMPATAN) SDN BHD holds pledged accounts for VISAGE GLOBAL SDN. BHD., with 26,575,600 shares (2.592%), and TOP MEGAVIEW SDN. BHD., with 13,628,000 shares (1.329%). A separate row under KANG BENG HAI prints 618,910,000 shares (60.369%).2025 年报列出的质押证券账户包括：MAYBANK NOMINEES (TEMPATAN) SDN BHD 名下为 KANG BENG HAI 持有的 50,000,000 股（4.877%），以及为 SILVER MAXLINK SDN BHD 持有的 21,874,500 股（2.134%）。RHB NOMINEES (TEMPATAN) SDN BHD 名下的质押账户为 VISAGE GLOBAL SDN. BHD. 持有 26,575,600 股（2.592%），为 TOP MEGAVIEW SDN. BHD. 持有 13,628,000 股（1.329%）。另一个 KANG BENG HAI 名下的账户列有 618,910,000 股（60.369%）。
Source: annual report 2025, page 152.出处：2025 年年报第 152 页。
Other pledged securities accounts in the 2025 list are AFFIN HWANG NOMINEES (TEMPATAN) SDN. BHD. for SHU LAY EE (M01), 6,700,000 shares (0.654%); AMSEC NOMINEES (ASING) SDN BHD for FUTURE SIGN COMPANY LIMITED, 4,737,500 (0.462%); PUBLIC NOMINEES (TEMPATAN) SDN BHD for LEE BOON TIONG (E-BMM), 2,098,200 (0.205%), and OOI KOK KEE (E-BBB), 6,500,000 (0.634%); MOOMOO NOMINEES (TEMPATAN) SDN. BHD. for LEE LOONG KONG, 2,355,000 (0.230%); HLB NOMINEES (TEMPATAN) SDN BHD for LAU THENG SIM, 7,390,000 (0.721%); and RHB NOMINEES (TEMPATAN) SDN BHD for CHU KERD YEE, 2,100,800 (0.205%). The 2024 list also records M & A NOMINEE (TEMPATAN) SDN BHD's pledged securities account for SELVAKUMAR A/L SHANMUGAM CHETTY (PNG), with 3,153,500 shares (0.308%).2025 年报的其他质押证券账户包括：AFFIN HWANG NOMINEES (TEMPATAN) SDN. BHD. 为 SHU LAY EE (M01) 持有 6,700,000 股（0.654%）；AMSEC NOMINEES (ASING) SDN BHD 为 FUTURE SIGN COMPANY LIMITED 持有 4,737,500 股（0.462%）；PUBLIC NOMINEES (TEMPATAN) SDN BHD 为 LEE BOON TIONG (E-BMM) 持有 2,098,200 股（0.205%），为 OOI KOK KEE (E-BBB) 持有 6,500,000 股（0.634%）；MOOMOO NOMINEES (TEMPATAN) SDN. BHD. 为 LEE LOONG KONG 持有 2,355,000 股（0.230%）；HLB NOMINEES (TEMPATAN) SDN BHD 为 LAU THENG SIM 持有 7,390,000 股（0.721%）；RHB NOMINEES (TEMPATAN) SDN BHD 为 CHU KERD YEE 持有 2,100,800 股（0.205%）。2024 年报还列有 M & A NOMINEE (TEMPATAN) SDN BHD 为 SELVAKUMAR A/L SHANMUGAM CHETTY (PNG) 持有的质押证券账户，共 3,153,500 股（0.308%）。
Source: annual report 2024, page 135; annual report 2025, page 152.出处：2024 年年报第 135 页；2025 年年报第 152 页。
Revenue by business, 20252025 年各项业务营业额占比
Source: annual report 2025, page 22.出处：2025 年年报第 22 页。
Revenue by market, 20252025 年各市场营业额
Source: annual report 2025, page 131.出处：2025 年年报第 131 页。
Major events大事记
Source: annual report 2025, page 6.出处：2025 年年报第 6 页。
Source: annual report 2024, pages 103, 104.出处：2024 年年报第 103、104 页。
Source: annual report 2024, pages 6, 68.出处：2024 年年报第 6、68 页。
Source: annual report 2025, page 88.出处：2025 年年报第 88 页。
Source: annual report 2025, pages 125, 149, 150.出处：2025 年年报第 125、149、150 页。
Source: annual report 2025, page 89.出处：2025 年年报第 89 页。
Source: annual report 2025, page 146.出处：2025 年年报第 146 页。
Source: annual report 2025, page 79.出处：2025 年年报第 79 页。
Source: annual report 2025, page 89.出处：2025 年年报第 89 页。
Source: annual report 2025, page 24.出处：2025 年年报第 24 页。
Source: annual report 2025, page 150.出处：2025 年年报第 150 页。
Source: annual report 2025, page 89.出处：2025 年年报第 89 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
20242024 年
Operations used RM14.4 million of cash. The IPO brought in RM56.4 million, and share issuance expenses were RM1.9 million. Cash purchases of property, plant and equipment were RM5.5 million, while asset disposals brought in RM10.5 million. Term loan drawdowns were RM2.5 million and repayments RM5.8 million. Bankers' acceptances had net drawdowns of RM16.3 million, and lease repayments were RM4.3 million. No dividend was paid. Cash and cash equivalents ended the year at RM53.0 million.营运使用现金 RM14.4 million。首次公开募股带来 RM56.4 million，股份发行费用为 RM1.9 million。购置产业、厂房与设备的现金支出为 RM5.5 million，资产出售所得为 RM10.5 million。提取定期贷款 RM2.5 million，偿还 RM5.8 million。银行承兑汇票净提取额为 RM16.3 million，租赁负债还款为 RM4.3 million。年内没有支付股息。年底现金与现金等价物为 RM53.0 million。
Source: annual report 2024, pages 27, 87.出处：2024 年年报第 27、87 页。
20252025 年
Operations generated RM5.9 million of cash. Cash purchases of property, plant and equipment were RM23.2 million, and asset disposals brought in RM17.6 million. Term loan drawdowns were RM21.2 million and repayments RM7.9 million. Bankers' acceptances had net repayments of RM13.7 million, and lease repayments were RM7.1 million. BWYSSB acquired the remaining 60% of BW Prestige for RM81,000. A dividend of RM512,607 was paid. The RM987,402 legal-claims provision was reversed after the court decision and withdrawal of the appeal.营运产生现金 RM5.9 million。购置产业、厂房与设备的现金支出为 RM23.2 million，资产出售所得为 RM17.6 million。提取定期贷款 RM21.2 million，偿还 RM7.9 million。银行承兑汇票净还款为 RM13.7 million，租赁负债还款为 RM7.1 million。BWYSSB 以 RM81,000 收购 BW Prestige 余下的 60% 股权。年内支付股息 RM512,607。法院裁决及上诉撤回后，集团转回 RM987,402 的法律索赔拨备。
Source: annual report 2025, pages 24, 88, 102, 124, 146.出处：2025 年年报第 24、88、102、124、146 页。
Across the years跨年合看
Revenue was RM246.1 million in 2023, RM236.3 million in 2024 and RM276.6 million in 2025. Annual profit was RM17.6 million, RM7.7 million and RM15.1 million respectively. Borrowings rose from RM129.2 million to RM143.3 million and then RM153.8 million. Cash and bank balances were RM25.6 million, RM75.5 million and RM62.2 million. At the end of 2025, RM18.4 million of bank deposits were pledged for credit facilities.2023、2024 及 2025 年营业额分别为 RM246.1 million、RM236.3 million 及 RM276.6 million；年度盈利分别为 RM17.6 million、RM7.7 million 及 RM15.1 million。借款由 RM129.2 million 升至 RM143.3 million，再升至 RM153.8 million。现金与银行结余分别为 RM25.6 million、RM75.5 million 及 RM62.2 million。2025 年底，RM18.4 million 的银行存款已为信贷融资作抵押。
Source: annual report 2025, page 124.出处：2025 年年报第 124 页。
Still to be spent尚待支出
Capital expenditure contracted but not provided for was RM106.0 million at the end of 2025, compared with RM3.0 million a year earlier. Unused IPO proceeds were RM18.9 million: RM3.7 million for the new Penang factory, RM4.8 million for machinery and equipment, and RM10.4 million for ERP, production and inventory management systems. The IPO allocations for bank repayments, working capital and listing expenses had been fully used.2025 年底，已签约但未计提的资本支出为 RM106.0 million，一年前为 RM3.0 million。尚未使用的首次公开募股资金为 RM18.9 million，其中槟城新厂 RM3.7 million、机器与设备 RM4.8 million，以及 ERP、生产与库存管理系统 RM10.4 million。用于偿还银行借款、营运资金和上市费用的募股资金已全部使用。
Source: annual report 2025, pages 79, 134.出处：2025 年年报第 79、134 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 | 246,077,508 | 236,331,247 | 276,607,362 |
| Profit before tax税前盈利 | 24,329,001 | 13,588,367 | 20,875,243 |
| Profit for the financial year年度盈利 | 17,649,241 | 7,676,516 | 15,050,383 |
| Net cash from operating activities营运活动所得现金净额 | 23,864,518 | (14,363,029) | 5,888,625 |
| Purchase of property, plant and equipment购置产业、厂房与设备 | (7,631,547) | (5,488,667) | (23,236,159) |
| Dividend paid已付股息 | (3,000,000) | 0 | (512,607) |
| Total assets总资产 | 337,798,959 | 401,365,928 | 429,863,688 |
| Borrowings借款 | 129,191,370 | 143,336,264 | 153,787,893 |
| Cash and bank balances现金与银行结余 | 25,604,211 | 75,462,524 | 62,225,840 |
| Total equity总权益 | 155,702,128 | 217,825,535 | 232,363,311 |
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 targeted Q1 2026 to complete the new Penang factory's physical building, submit the CCC and begin machinery installation and commissioning.2024 年报的目标是在 2026 年第一季度完成槟城新厂建筑工程、提交 CCC，并开始安装及调试机器。 | The 2025 report expected factory completion by Q2 2026 and operations to begin in that quarter. It recorded RM19.1 million of the factory's IPO allocation as used.2025 年报预计工厂于 2026 年第二季度完成，并于该季度开始营运。年报记录已使用 RM19.1 million 的工厂募股拨款。 Source: annual report 2024, page 22; annual report 2025, pages 27, 34, 79.出处：2024 年年报第 22 页；2025 年年报第 27、34、79 页。 | Completion target moved to Q2 2026完成目标改为 2026 年第二季度 |
| The 2024 report planned new ERP, production and inventory management systems, with RM10.8 million allocated from IPO proceeds for use within 36 months.2024 年报计划引入新的 ERP、生产和库存管理系统，分配 RM10.8 million 募股资金，拟在 36 个月内使用。 | The 2025 report recorded RM425,000 used and RM10.4 million unused. It still described replacing the existing system as a future action.2025 年报记录已使用 RM425,000，尚余 RM10.4 million。更换现有系统仍被列为未来行动。 Source: annual report 2024, pages 36, 68; annual report 2025, pages 34, 79.出处：2024 年年报第 36、68 页；2025 年年报第 34、79 页。 | Spending begun; replacement still planned已开始支出；系统更换仍属计划 |
| The 2024 report planned roll-forming machines and an automated powder coating line. It allocated RM7.7 million of IPO proceeds for machinery and equipment, to be used within 36 months.2024 年报计划购置辊压成型机及自动粉末喷涂生产线，并分配 RM7.7 million 募股资金购置机器与设备，拟在 36 个月内使用。 | The 2025 report recorded RM2.9 million of the machinery allocation as used and RM4.8 million as unused.2025 年报记录机器拨款已使用 RM2.9 million，尚余 RM4.8 million。 Source: annual report 2024, pages 22, 68; annual report 2025, page 79.出处：2024 年年报第 22、68 页；2025 年年报第 79 页。 | Allocation partly used拨款已使用一部分 |
| The 2024 report earmarked RM4.0 million of IPO proceeds for bank repayments within 12 months.2024 年报预留 RM4.0 million 募股资金，拟在 12 个月内偿还银行借款。 | The 2025 utilisation table recorded the full RM4.0 million as used for bank repayments.2025 年报的资金使用表记录，RM4.0 million 已全部用于偿还银行借款。 Source: annual report 2024, pages 22, 23; annual report 2025, page 79.出处：2024 年年报第 22、23 页；2025 年年报第 79 页。 | Allocation fully used拨款已全部使用 |
| The 2024 report set a goal of training at least 90% of employees in health and safety standards.2024 年报设定目标，让至少 90% 的员工接受健康与安全标准培训。 | In 2025, 425 employees, representing 95% of the workforce, received this training.2025 年共有 425 名员工接受相关培训，占员工总数的 95%。 Source: annual report 2024, page 43; annual report 2025, page 42.出处：2024 年年报第 43 页；2025 年年报第 42 页。 | Reported above the target报告结果高于目标 |
| The 2024 report set a customer satisfaction target of 90%.2024 年报设定的客户满意度目标为 90%。 | The 2025 report retained the 90% target and reported an overall performance score of 90.8%.2025 年报保留 90% 的目标，并报告整体表现评分为 90.8%。 Source: annual report 2024, page 35; annual report 2025, page 33.出处：2024 年年报第 35 页；2025 年年报第 33 页。 | Reported above the target报告结果高于目标 |
What the reports leave open年报留下待看的事
- The new Penang factory was expected to be completed and begin operations in Q2 2026. The 2025 report describes this as an expectation rather than a completed event.槟城新厂预计在 2026 年第二季度完成并开始营运。2025 年报将其列为预期事项，而非已完成的事件。
Source: annual report 2025, pages 27, 34.出处：2025 年年报第 27、34 页。
- The group had RM106.0 million of capital expenditure contracted but not provided for at the end of 2025, and RM18.9 million of unused IPO proceeds. Further spending and its funding remain to be followed.2025 年底，集团有 RM106.0 million 已签约但未计提的资本支出；另有 RM18.9 million 尚未使用的募股资金。后续支出及其资金来源仍待跟进。
Source: annual report 2025, pages 79, 134.出处：2025 年年报第 79、134 页。
- For the Duabelas land acquisition, the report records an agreement dated 22 October 2025 and RM9.4 million of deposits paid. The acquisition's completion and further payments are follow-up items.关于 Duabelas 土地收购，年报记录了日期为 2025 年 10 月 22 日的协议，以及已付订金 RM9.4 million。收购完成情况及后续付款仍需跟进。
Source: annual report 2025, pages 89, 123.出处：2025 年年报第 89、123 页。
- The parent's financial guarantees for subsidiaries' credit facilities had a limit of RM270.4 million, with RM152.8 million utilised. Group borrowings were RM153.8 million at year end.母公司为子公司信贷融资提供的财务担保限额为 RM270.4 million，已使用 RM152.8 million。集团年底借款为 RM153.8 million。
Source: annual report 2025, pages 135, 138.出处：2025 年年报第 135、138 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。