DailySpaceWell Chip Group Berhad
5325 · Main Market主板（Main Market） · annual reports 2024 to 2025, 949 entries read2024 至 2025 年报，共读出 949 条
The company这家公司
Well Chip Group Berhad provides pawnbroking services as well as retail and trading of jewellery and gold. Its pawnbroking services are regulated by the Ministry of Housing and Local Government (KPKT) under the Pawnbrokers Act 1972. As at 31 December 2024, the group had 23 pawnshops and 4 retail outlets across Johor. As at 31 December 2025, it had 27 pawnshops and 5 retail outlets across Johor and Perak.Well Chip Group Berhad 提供典当服务以及珠宝与黄金的零售及贸易。其典当服务受房屋及地方政府部（KPKT）依据《1972年典当商法令》监管。截至 2024 年 12 月 31 日，该集团在柔佛拥有 23 家当铺和 4 家零售店。截至 2025 年 12 月 31 日，该集团在柔佛和霹雳拥有 27 家当铺和 5 家零售店。
Source: annual report 2024, page 20; annual report 2025, page 23.出处：2024 年年报第 20 页；2025 年年报第 23 页。
Revenue is generated from interest charges and administrative fees on pawn loans, scrap gold sales, and retail sales of jewellery. In 2025, pawnbroking services generated RM136.42 million (FY2024: RM90.76 million) and retail and trading of jewellery and gold generated RM133.78 million (FY2024: RM131.37 million). Pawn loans disbursed were RM1,361.93 million in FY2024 and RM2,308.86 million in FY2025.营业额来自典当贷款的利息与行政费、废金销售以及珠宝零售。2025 财年，典当服务产生 RM136.42 million（2024 财年：RM90.76 million），珠宝与黄金零售及贸易产生 RM133.78 million（2024 财年：RM131.37 million）。发放的典当贷款在 2024 财年为 RM1,361.93 million，2025 财年为 RM2,308.86 million。
Source: annual report 2024, pages 20, 21, 22; annual report 2025, pages 24, 25.出处：2024 年年报第 20、21、22 页；2025 年年报第 24、25 页。
In the retail and trading segment, scrap gold is sold to scrap gold traders.在零售与贸易部门中，废金销售给废金交易商。
Source: annual report 2024, page 22; annual report 2025, page 150.出处：2024 年年报第 22 页；2025 年年报第 150 页。
VYN Holdings Sdn. Bhd. is regarded as the holding company and holds 304,171,887 shares (50.70%), while VMM Holdings Sdn. Bhd. holds 88,874,956 shares (14.81%). Non-Independent Non-Executive Director Yeah Hiang Nam and Tan Hong Yee are each deemed interested in 393,046,843 shares (65.51%). Steven Yeah is the son of Yeah Hiang Nam and Tan Hong Yee.VYN Holdings Sdn. Bhd. 被视为控股公司，持有 304,171,887 股（50.70%），而 VMM Holdings Sdn. Bhd. 持有 88,874,956 股（14.81%）。非独立非执行董事 Yeah Hiang Nam 与 Tan Hong Yee 各自被视为拥有 393,046,843 股（65.51%）的权益。Steven Yeah 是 Yeah Hiang Nam 与 Tan Hong Yee 之子。
Source: annual report 2024, pages 8, 82; annual report 2025, pages 8, 170.出处：2024 年年报第 8、82 页；2025 年年报第 8、170 页。
Mak Lye Mun serves as Independent Non-Executive Chairman. Ng Hooi Lang is Executive Director and Chief Executive Officer and has family relationships with other directors. Tang Soo Yen is Executive Director and Director of Retail and Merchandising. Dr. Yap Lang Ling retired on 23 June 2025. Lew Chern Yong and Hsu, Kuan-Hua were appointed as Independent Non-Executive Directors on 19 September 2025.Mak Lye Mun 担任独立非执行主席。Ng Hooi Lang 为执行董事兼首席执行员，与公司其他董事存在亲属关系。Tang Soo Yen 为执行董事兼零售与商品总监。Dr. Yap Lang Ling 于 2025 年 6 月 23 日退任。Lew Chern Yong 与 Hsu, Kuan-Hua 于 2025 年 9 月 19 日获委任为独立非执行董事。
Source: annual report 2024, page 9; annual report 2025, pages 6, 9, 10, 13, 14, 74, 75.出处：2024 年年报第 9 页；2025 年年报第 6、9、10、13、14、74、75 页。
Revenue by segment, 20252025 年各部门营业额
Source: annual report 2025, page 148.出处：2025 年年报第 148 页。
Major events大事记
Source: annual report 2024, pages 127, 128.出处：2024 年年报第 127、128 页。
Source: annual report 2024, pages 18, 19, 78.出处：2024 年年报第 18、19、78 页。
Source: annual report 2024, page 148.出处：2024 年年报第 148 页。
Source: annual report 2025, pages 129, 161.出处：2025 年年报第 129、161 页。
Source: annual report 2025, pages 22, 28.出处：2025 年年报第 22、28 页。
Source: annual report 2025, pages 74, 75.出处：2025 年年报第 74、75 页。
Revenue and profit before taxation营业额与税前盈利
Total assets, equity and borrowings总资产、权益与借款
20242024 年
On 23 July 2024, the company listed on the Main Market, raising RM172.5 million by issuing 150,000,000 new shares at RM1.15 per share. Net proceeds from share issuance were RM167,786,006 after share issuance expenses of RM4,713,994. Financing activities generated RM147.39 million, while repayments of loans from related parties, shareholders and directors took RM24,022,484. Operating activities used RM47.43 million mainly due to an increase in pawn loans disbursed. Investing activities used RM13.07 million, which included a fixed deposit placement of RM10,000,000 and purchase of property, plant and equipment of RM1,347,975. Cash and bank balances ended at RM69.84 million.2024 年 7 月 23 日，公司在主板上市，以每股 RM1.15 发行 150,000,000 股新股筹集 RM172.5 million。扣除 RM4,713,994 的股份发行费用后，发行股份所得款项净额为 RM167,786,006。融资活动产生现金 RM147.39 million，偿还关联方、股东及董事贷款支出 RM24,022,484。营运活动使用现金 RM47.43 million，主要由于发放的典当贷款增加。投资活动使用 RM13.07 million，包括存放超过 3 个月的定期存款 RM10,000,000 以及购买物业、厂房及设备 RM1,347,975。现金与银行结余期末为 RM69.84 million。
Source: annual report 2024, pages 18, 19, 22, 23, 78, 86, 89.出处：2024 年年报第 18、19、22、23、78、86、89 页。
20252025 年
Operating cash outflow was RM165.10 million mainly due to an increase in pawn loans disbursed. Investing activities used RM55.91 million, including RM56,420,050 for the acquisition of subsidiaries, RM5,560,000 for right-of-use assets, and RM3,945,854 for property, plant and equipment, offset by a RM10,000,000 withdrawal of fixed deposits. Financing activities generated RM154.08 million, with net drawdown of loans and borrowings of RM186,506,965, while dividend payments used RM24.0 million and repayments of loans from related parties, shareholders and directors used RM3,915,612. Cash and bank balances ended at RM15.88 million.营运现金流出为 RM165.10 million，主要由于发放的典当贷款增加。投资活动使用 RM55.91 million，包括收购子公司支出 RM56,420,050、使用权资产 RM5,560,000 以及物业、厂房及设备 RM3,945,854，并由收回定期存款 RM10,000,000 部分抵销。融资活动产生现金 RM154.08 million，借款净提取 RM186,506,965，而派发股息使用 RM24.0 million，偿还关联方、股东及董事贷款使用 RM3,915,612。现金与银行结余期末为 RM15.88 million。
Source: annual report 2025, pages 26, 28, 104, 105, 130.出处：2025 年年报第 26、28、104、105、130 页。
Across the two years两年合看
Total assets increased to RM685.54 million in 2024 and RM960.82 million in 2025. Pledged receivables rose from RM506,365,505 in 2024 to RM797,341,943 in 2025, and together with cash in hand and inventories made up approximately 79% and 87% of total assets respectively. Loans and borrowings increased from RM182,007,315 at end 2024 to RM395,858,324 at end 2025. The board declared a final dividend of RM0.04 per share (RM24.0 million) for 2024 and proposed RM0.051 per share (RM30.6 million) for 2025; the Board intends to distribute at least 35.0% of consolidated profit after tax attributable to shareholders for the first 3 financial years after listing.总资产在 2024 年增至 RM685.54 million，在 2025 年增至 RM960.82 million。抵押应收款项从 2024 年的 RM506,365,505 增至 2025 年的 RM797,341,943，连同库存现金与存货分别约占总资产的 79% 和 87%。贷款与借款由 2024 年底的 RM182,007,315 增至 2025 年底的 RM395,858,324 。董事会就 2024 财年宣派每股 RM0.04 的终期股息（RM24.0 million），并建议就 2025 财年派发每股 RM0.051 的终期股息（RM30.6 million）；董事会打算在上市后首 3 个财政年度分派至少相当于股东应占综合税后盈利 35.0% 的股息。
Source: annual report 2024, pages 22, 25, 136, 151; annual report 2025, pages 26, 28, 160, 163.出处：2024 年年报第 22、25、136、151 页；2025 年年报第 26、28、160、163 页。
Still to be spent尚未支出的款项
From the RM172.5 million raised in the July 2024 initial public offering, RM41.2 million remained unutilised at end 2024. In 2025, RM8.5 million was reallocated from pawnshop expansion to cash capital for existing pawnshops, bringing cash capital to RM132.8 million, which was fully utilised. By end 2025, RM7.9 million had been spent on pawnshop expansion, leaving RM23.6 million unutilised; on 16 April 2026 the Board extended the timeline for using it by twelve months from 23 July 2026.在 2024 年 7 月首次公开募股筹集的 RM172.5 million 中，2024 年底尚有 RM41.2 million 未动用。2025 年，RM8.5 million 从当铺扩张重新分配至现有当铺的现金资本，使现金资本达到 RM132.8 million 并已全额动用。截至 2025 年底，当铺扩张已支出 RM7.9 million，剩余 RM23.6 million 未动用；董事会于 2026 年 4 月 16 日将其使用期限自 2026 年 7 月 23 日起延长十二个月。
Source: annual report 2024, pages 19, 75; annual report 2025, page 89.出处：2024 年年报第 19、75 页；2025 年年报第 89 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 | 203,675,365 | 222,125,297 | 270,202,091 |
| Profit before taxation税前盈利 | 49,993,072 | 71,069,506 | 120,266,284 |
| Net cash used in operating activities营运活动所用现金净额 | (36,133,970) | (47,429,091) | (165,100,252) |
| Purchase of property, plant and equipment购买物业、厂房及设备 | (2,956,920) | (1,347,975) | (3,945,854) |
| Dividend paid已付股息 | (4,848,154) | 0 | (24,000,000) |
| Total assets总资产 | 495,826,631 | 685,540,221 | 960,812,962 |
| Loans and borrowings贷款与借款 | 192,496,239 | 182,007,315 | 395,858,324 |
| Cash and bank balances现金与银行结余 | 12,465,537 | 69,844,318 | 15,878,387 |
| Total equity总权益 | 203,377,035 | 421,147,219 | 483,293,161 |
| Total liabilities总负债 | 292,449,596 | 264,393,002 | 477,519,801 |
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 acquisition announced in December 2024 targeted for completion by the second quarter of 20252024 年 12 月宣布的拟议收购目标在 2025 年第二季度完成 | Completed the acquisition of Pajak Gadai Koong Sing, Lian Foh Pawnshop and Fook Foh Pawnshop on 19 May 2025 for RM63,442,197.于 2025 年 5 月 19 日以 RM63,442,197 完成收购 Pajak Gadai Koong Sing、Lian Foh Pawnshop 和 Fook Foh Pawnshop。 Source: annual report 2024, page 19; annual report 2025, pages 129, 161.出处：2024 年年报第 19 页；2025 年年报第 129、161 页。 | Completed已完成 |
| New pawnshop approved by KPKT in March 2025 expected to open in the third quarter of 20252025 年 3 月获 KPKT 批准的新当铺预计于 2025 年第三季度开业 | The Pekan Nanas outlet commenced operations in June 2025 following the issuance of a licence by KPKT.笨珍 Pekan Nanas 当铺在获 KPKT 发放执照后，于 2025 年 6 月开业。 Source: annual report 2024, page 19; annual report 2025, pages 22, 28.出处：2024 年年报第 19 页；2025 年年报第 22、28 页。 | Opened in June 2025于 2025 年 6 月开业 |
| Proposed final dividend of RM0.04 per share, totaling RM24.0 million for the financial year ended 31 December 2024建议就截至 2024 年 12 月 31 日止财政年度派发每股 RM0.04 的终期股息，总额 RM24.0 million | Paid RM24,000,000 on 11 July 2025.于 2025 年 7 月 11 日支付了 RM24,000,000。 Source: annual report 2024, pages 25, 161; annual report 2025, pages 105, 147.出处：2024 年年报第 25、161 页；2025 年年报第 105、147 页。 | Paid已派发 |
| RM40.0 million of IPO proceeds allocated for expansion of pawnshops within 24 monthsRM40.0 million 首次公开募股款项分配用于 24 个月内扩张当铺 | RM8.5 million was reallocated to cash capital for existing pawnshops, RM7.9 million was spent, and RM23.6 million remained unutilised; on 16 April 2026 the Board extended its timeline by twelve months from 23 July 2026.RM8.5 million 重新分配至现有当铺现金资本，已支出 RM7.9 million，尚余 RM23.6 million 未动用；董事会于 2026 年 4 月 16 日将其期限自 2026 年 7 月 23 日起延长十二个月。 Source: annual report 2024, page 75; annual report 2025, page 89.出处：2024 年年报第 75 页；2025 年年报第 89 页。 | Still in progress仍在进行中 |
| Intention to distribute dividends of at least 35.0% of consolidated profit after tax for the first 3 financial years after listing打算在上市后首 3 个财政年度分派至少相当于综合税后盈利 35.0% 的股息 | For 2025, with profit after tax of RM86.15 million, the board proposed a final dividend of RM0.051 per share totaling RM30.6 million.2025 年税后盈利为 RM86.15 million，董事会建议派发每股 RM0.051 终期股息，总计 RM30.6 million。 Source: annual report 2024, page 25; annual report 2025, pages 21, 28.出处：2024 年年报第 25 页；2025 年年报第 21、28 页。 | Proposed已建议派发 |
What the reports leave open年报留下待看的事
- Renovation and final regulatory approvals from KPKT for four conditionally approved pawnshops in Johor and two in Melaka.柔佛 4 家及马六甲 2 家已获有条件批准当铺的装修工程及 KPKT 最终监管批准进展。
Source: annual report 2025, pages 22, 28.出处：2025 年年报第 22、28 页。
- Deployment of the remaining RM23.6 million in unutilised IPO proceeds allocated for pawnshop expansion, whose timeline the Board extended on 16 April 2026 by twelve months from 23 July 2026.用于当铺扩张的剩余 RM23.6 million 未动用首次公开募股款项的投放情况；董事会已于 2026 年 4 月 16 日将其期限自 2026 年 7 月 23 日起延长十二个月。
Source: annual report 2025, page 89.出处：2025 年年报第 89 页。
- Cash capital needs and borrowing levels, after loans and borrowings rose to RM395,858,324 and operating cash outflow reached RM165.10 million.现金资本需求与借贷水平，此前贷款与借款增至 RM395,858,324，营运现金流出达 RM165.10 million。
Source: annual report 2025, pages 26, 27, 160.出处：2025 年年报第 26、27、160 页。
- Board composition following Ms. Wong Chin Chin's decision not to seek re-election at the 3rd Annual General Meeting.Ms. Wong Chin Chin 决定不在第三届股东常年大会上寻求连任后的董事会人员构成。
Source: annual report 2025, page 176.出处：2025 年年报第 176 页。
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-11-02.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 2026-11-02。