DailySpaceCUCKOO International (MAL) Berhad
5336 · Main Market主板（Main Market） · annual reports 2025 to 2025, 509 entries read2025 至 2025 年报，共读出 509 条
The company这家公司
CUCKOO International (MAL) Berhad was incorporated on 24.07.2014 and converted into a public limited company on 5 August 2024, assuming its present name before listing on the Main Market of Bursa Malaysia Securities Berhad on 24 June 2025.CUCKOO International (MAL) Berhad 于 2014 年 7 月 24 日成立，并于 2024 年 8 月 5 日转为公众有限公司并采用现名，随后于 2025 年 6 月 24 日在马来西亚证券交易所主板上市。
Source: annual report 2025, pages 3, 10, 101.出处：2025 年年报第 3、10、101 页。
The group offers products and services accessible through rental plans and outright sales, including water purifiers, skincare and nutritional products under WonderLab and WonderDewi, and home care services under WonderKlean.集团通过租赁计划和直接销售提供产品与服务，包括净水机、WonderLab 和 WonderDewi 旗下的护肤与营养产品，以及 WonderKlean 旗下的家居护理服务。
Source: annual report 2025, pages 24, 28, 173.出处：2025 年年报第 24、28、173 页。
In FYE2025, revenue was RM1.1 billion. The CUCKOO-branded segment contributed RM875.6 million, accounting for 79.5% of total revenue, while the CUCKOO Co-Created segment contributed RM221.5 million, representing 20.1% of total revenue. New products introduced included the CUCKOO XCEL 2 water purifier, CUCKOO HUGZ mattress in a box, CUCKOO CR-0685FW multi-cooker, CUCKOO AquaFlex filtered shower head, and cookwares with Color King, alongside a partnership with Samsung expanding offerings across five product categories.2025 财政年度，营业额为 RM1.1 billion。CUCKOO 品牌部门贡献 RM875.6 million，占总营业额的 79.5%；CUCKOO 联创部门贡献 RM221.5 million，占总营业额的 20.1%。推出的新产品包括 CUCKOO XCEL 2 净水机、CUCKOO HUGZ 盒装床垫、CUCKOO CR-0685FW 多功能电饭煲、CUCKOO AquaFlex 过滤花洒喷头以及与 Color King 合作的炊具，并与 Samsung 合作将产品拓展至五个产品类别。
Source: annual report 2025, pages 24, 25.出处：2025 年年报第 24、25 页。
Business activities are predominantly located in Malaysia, and there were no major customers with revenue equal to or more than 10% of total revenue in 2025 and 2024.业务活动主要位于马来西亚，且在 2025 和 2024 年均无单一客户贡献占总营业额 10% 或以上的营业额。
Source: annual report 2025, page 157.出处：2025 年年报第 157 页。
CUCKOO Homesys Co., Ltd. is the largest shareholder with 759,440,510 shares (53.004%), followed by Koo Bon Hak with 175,799,779 shares (12.270%) and Hoe Kian Choon with 147,363,326 shares (10.285%). Pledged securities accounts among the thirty largest shareholders include accounts for Mak Foong Ling holding 8,000,000 shares (0.558%), 7,999,990 shares (0.558%), 6,750,000 shares (0.471%) and 5,685,665 shares (0.397%), and Chin Hin Group Property Berhad holding 19,337,200 shares (1.350%). A holder is deemed interested in the shares held by his spouse Mak Foong Ling. Koo Bon Hak stepped down from his executive position on 12 July 2024 to become Non-Independent Non-Executive Chairman. Toh Seng Lee is the spouse of Goh Hui Teng (Queenie Goh), who is a key senior management member.CUCKOO Homesys Co., Ltd. 为最大股东，持有 759,440,510 股（53.004%），其次是 Koo Bon Hak 持有 175,799,779 股（12.270%）及 Hoe Kian Choon 持有 147,363,326 股（10.285%）。前三十大股东中的抵押证券账户包括 Mak Foong Ling 名下账户分别持有 8,000,000 股（0.558%）、7,999,990 股（0.558%）、6,750,000 股（0.471%）和 5,685,665 股（0.397%），以及 Chin Hin Group Property Berhad 持有 19,337,200 股（1.350%）。一名持股人被视为对其配偶 Mak Foong Ling 所持股份拥有权益。Koo Bon Hak 于 2024 年 7 月 12 日卸下执行职位调任非独立非执行主席。Toh Seng Lee 是关键高级管理层人员 Goh Hui Teng（Queenie Goh）的配偶。
Source: annual report 2025, pages 12, 19, 178, 179.出处：2025 年年报第 12、19、178、179 页。
Major events大事记
Source: annual report 2025, page 34.出处：2025 年年报第 34 页。
Source: annual report 2025, page 139.出处：2025 年年报第 139 页。
Source: annual report 2025, page 12.出处：2025 年年报第 12 页。
Source: annual report 2025, page 3.出处：2025 年年报第 3 页。
Source: annual report 2025, pages 21, 101.出处：2025 年年报第 21、101 页。
Source: annual report 2025, page 28.出处：2025 年年报第 28 页。
Source: annual report 2025, page 25.出处：2025 年年报第 25 页。
Source: annual report 2025, page 140.出处：2025 年年报第 140 页。
Source: annual report 2025, page 152.出处：2025 年年报第 152 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
20252025 年
In 2025, the group undertook a public issue of 143,280,000 new ordinary shares at an issue price of RM1.08 per share in conjunction with its listing on the Main Market, raising proceeds of RM154.7 million (with net proceeds of RM148,773,000 after share issuance costs of RM5,969,000). Net cash generated from operating activities was RM19,273,000, while net cash used in investing activities was RM878,000, including RM2,476,000 for acquisition of property, plant and equipment. Net cash used in financing activities was RM22,103,000, as the group drew down RM34,102,000 of loans and borrowings but repaid RM183,304,000, while paying RM11,353,000 on lease liabilities and RM10,321,000 in interest on loans and borrowings.2025 年，集团配合在主板上市进行公开发行，以每股 RM1.08 发行 143,280,000 股新普通股，筹集 RM154.7 million 资金（扣除 RM5,969,000 的发股成本后所得款项净额为 RM148,773,000）。营运活动所得现金净额为 RM19,273,000，而投资活动所用现金净额为 RM878,000，包括购置物业、厂房及设备支出 RM2,476,000。融资活动所用现金净额为 RM22,103,000，集团提取贷款与借款 RM34,102,000，但偿还贷款与借款 RM183,304,000，同时支付租赁负债 RM11,353,000 以及贷款与借款利息 RM10,321,000。
Source: annual report 2025, pages 21, 101, 114, 117.出处：2025 年年报第 21、101、114、117 页。
At year end年末结余
At 31 December 2025, total loans and borrowings stood at RM139,649,000, down from RM288,851,000 at the end of 2024. Cash and cash equivalents stood at RM66,856,000. Interest-bearing trade and other payables owed to the immediate holding company and a related corporation were RM111,248,000 at an interest rate of 4.51% per annum. Net investment in lease was RM1,278,604,000, with an impairment allowance of RM46,653,000. Net loss on impairment of financial instruments was RM75,973,000 for 2025 compared with RM50,140,000 in 2024. On 10 April 2026, the directors declared a dividend of 1.84 sen per ordinary share amounting to RM26,363,520 (approximately RM26.3 million) in respect of the financial year ended 31 December 2025.截至 2025 年 12 月 31 日，贷款与借款总额为 RM139,649,000，低于 2024 年底的 RM288,851,000。现金与现金等价物为 RM66,856,000。欠直接控股公司及关联公司的计息贸易及其他应付款项为 RM111,248,000，年利率为 4.51%。租赁净投资为 RM1,278,604,000，减值拨备为 RM46,653,000。2025 年金融工具减值亏损净额为 RM75,973,000，而 2024 年为 RM50,140,000。2026 年 4 月 10 日，董事就截至 2025 年 12 月 31 日止财政年度宣布每股普通股 1.84 仙的股息，总额为 RM26,363,520（约 RM26.3 million）。
Source: annual report 2025, pages 27, 112, 113, 119, 135, 141, 152, 157, 166, 170.出处：2025 年年报第 27、112、113、119、135、141、152、157、166、170 页。
Still to be spent尚未支出的承诺
From the IPO proceeds, RM75.3 million was allocated and utilised for product purchases to expand the rental business, and RM40.0 million was allocated and utilised for repayment of bank borrowings. Looking ahead to FYE2026, capital expenditure requirements are estimated at RM19.8 million, which the group expects to fund through the remaining balance of IPO proceeds and internally generated funds if required.在首次公开募股所得款项中，RM75.3 million 已规划并用于采购产品以扩充租赁业务，RM40.0 million 已规划并用于偿还银行借款。展望 2026 财政年度，资本支出需求预计为 RM19.8 million，集团预期通过首次公开募股的剩余结余及（如有需要）内部产生的资金来支付。
Source: annual report 2025, page 33.出处：2025 年年报第 33 页。
Four years of figures四年数字
Group figures, in RM thousand (×1,000), as printed in the statements.集团数字，单位千令吉（×1,000），照财务报表所印。
| Group集团 | 2024 | 2025 |
|---|---|---|
| RM'000千令吉 | RM'000千令吉 | |
| Revenue营业额 | 1,239,036 | 1,100,812 |
| Profit before tax税前盈利 | 170,694 | 142,860 |
| Profit for the year本年度盈利 | 128,354 | 105,212 |
| Net cash generated from/(used in) operating activities营运活动所得/（所用）现金净额 | (118,344) | 19,273 |
| Net cash (used in)/generated from financing activities融资活动（所用）/所得现金净额 | 104,610 | (22,103) |
| Dividend paid to owners of the Company已付公司所有者股息 | (73,378) | 0 |
| Total assets总资产 | 1,481,686 | 1,624,315 |
| Total liabilities总负债 | 628,451 | 516,392 |
| Total loans and borrowings贷款与借款总额 | 288,851 | 139,649 |
| Cash and cash equivalents现金与现金等价物 | 70,470 | 66,856 |
| Total equity总权益 | 853,235 | 1,107,923 |
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
Only one annual report has been read so far, so there is no later report to check its plans against.目前只读了一份年报，还没有之后的年报可以对照它的计划。
What the reports leave open年报留下待看的事
- Total active orders declined from 1.05 million to 0.94 million during the financial year following the tightening of credit policies and maturing subscriptions.随着信贷政策收紧以及到期订阅的自然流失，财政年度内活跃订单总数由 1.05 million 降至 0.94 million。
Source: annual report 2025, page 25.出处：2025 年年报第 25 页。
- A bank loan with a carrying amount of RM32,083,000 required an Annual Debt Service Coverage Ratio revised to not less than 1.25 times for 31 December 2025, thereafter to be maintained at not less than 2.0 times tested semi-annually.账面值为 RM32,083,000 的银行贷款所附契约，要求 2025 年 12 月 31 日的年度偿债备付率修订为不低于 1.25 倍，此后须维持在不低于 2.0 倍并按每半年测试一次。
Source: annual report 2025, page 140.出处：2025 年年报第 140 页。
- Capex requirements for FYE2026 are estimated at RM19.8 million, which the group expects to fund through the remaining balance of IPO proceeds and internally generated funds if required.2026 财政年度的资本支出需求预计为 RM19.8 million，集团预期通过首次公开募股的剩余结余以及（如有需要）内部产生的资金来支付。
Source: annual report 2025, page 33.出处：2025 年年报第 33 页。
- Customers owning one product accounted for 66.3% of the customer base at 31 December 2025, while approximately 33.7% owned more than one product.截至 2025 年 12 月 31 日，拥有单项产品的客户占客户群的 66.3%，而拥有超过一项产品的客户约占 33.7%。
Source: annual report 2025, pages 22, 26.出处：2025 年年报第 22、26 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。