AJJ Medtech 584
Financials
Annual Report 2025
Explore the statements
8 tablesConsolidated Statement of Profit or Loss and Other Comprehensive Income (Group)
16 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| RevenueS$'000 | 3,192 | 2,323 | PDF p. 79 |
| Cost of salesS$'000 | (2,017) | (1,736) | PDF p. 79 |
| Gross profitS$'000 | 1,175 | 587 | PDF p. 79 |
| Other operating incomeS$'000 | 97 | 164 | PDF p. 79 |
| Selling and distribution expensesS$'000 | (482) | (884) | PDF p. 79 |
| Administrative expensesS$'000 | (3,631) | (3,667) | PDF p. 79 |
| Other operating expensesS$'000 | – | (15) | PDF p. 79 |
| Finance costsS$'000 | (87) | (54) | PDF p. 79 |
| Loss before taxS$'000 | (2,928) | (3,869) | PDF p. 79 |
| Income tax (expense)/creditS$'000 | (3) | 4 | PDF p. 79 |
| Loss for the year representing loss attributable to equity holders of the CompanyS$'000 | (2,931) | (3,865) | PDF p. 79 |
| Other comprehensive income | |||
| Currency translation differences arising from consolidationS$'000 | 1 | (1) | PDF p. 79 |
| Other comprehensive income/(loss), net of taxS$'000 | 1 | (1) | PDF p. 79 |
| Total comprehensive loss for the yearS$'000 | (2,930) | (3,866) | PDF p. 79 |
| Loss per share (cents per share) | |||
| – Basic (in cents)cents per share | (0.19) | (0.28) | PDF p. 79 |
| – Diluted (in cents)cents per share | (0.19) | (0.28) | PDF p. 79 |
Definitions & sources
Original report: PDF p. 79 ↗
The accompanying notes form an integral part of these financial statements.
Loss attributable entirely to equity holders of the Company; total comprehensive loss likewise attributable to equity holders of the Company.
Statements of Financial Position (The Group and The Company)
33 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025The Group | 2024The Group | 2025The Company | 2024The Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipmentS$'000 | 89 | 191 | 28 | 35 | PDF p. 80 |
| Right-of-use assetsS$'000 | 1,055 | 1,364 | 64 | 94 | PDF p. 80 |
| Investment in subsidiariesS$'000 | – | – | 4,044 | 3,720 | PDF p. 80 |
| Intangible assetsS$'000 | 90 | 40 | – | – | PDF p. 80 |
| Other non-current assetS$'000 | 9 | 9 | – | – | PDF p. 80 |
| Other receivablesS$'000 | 60 | 62 | – | – | PDF p. 80 |
| SubtotalS$'000 | 1,303 | 1,666 | 4,136 | 3,849 | PDF p. 80 |
| Current assets | |||||
| InventoriesS$'000 | 1,001 | 1,238 | 24 | 24 | PDF p. 80 |
| Trade and other receivablesS$'000 | 827 | 992 | 849 | 1,006 | PDF p. 80 |
| Cash and bank balancesS$'000 | 414 | 8 | 321 | – | PDF p. 80 |
| SubtotalS$'000 | 2,242 | 2,238 | 1,194 | 1,030 | PDF p. 80 |
| Assets | |||||
| Total assetsS$'000 | 3,545 | 3,904 | 5,330 | 4,879 | PDF p. 80 |
| Current liabilities | |||||
| Lease liabilitiesS$'000 | 268 | 259 | 37 | 37 | PDF p. 80 |
| Deferred considerationS$'000 | – | 92 | – | – | PDF p. 80 |
| Trade and other payablesS$'000 | 1,585 | 1,656 | 1,119 | 754 | PDF p. 80 |
| Loan and borrowingsS$'000 | 1,324 | 899 | 999 | 807 | PDF p. 80 |
| Amounts due to key management personnelS$'000 | 767 | 427 | 362 | 155 | PDF p. 80 |
| Amounts due to directorsS$'000 | 1,465 | 926 | 1,450 | 910 | PDF p. 80 |
| Income tax liabilitiesS$'000 | 5 | – | – | – | PDF p. 80 |
| SubtotalS$'000 | 5,414 | 4,259 | 3,967 | 2,663 | PDF p. 80 |
| Non-current liabilities | |||||
| Provision for reinstatement costsS$'000 | 77 | 77 | – | – | PDF p. 80 |
| Lease liabilitiesS$'000 | 763 | 1,024 | 35 | 67 | PDF p. 80 |
| Deferred tax liabilitiesS$'000 | 4 | 7 | – | – | PDF p. 80 |
| SubtotalS$'000 | 844 | 1,108 | 35 | 67 | PDF p. 80 |
| Liabilities | |||||
| Total liabilitiesS$'000 | 6,258 | 5,367 | 4,002 | 2,730 | PDF p. 80 |
| Net assets | |||||
| Net current assets/(liabilities)S$'000 | (3,172) | (2,021) | (2,773) | (1,633) | PDF p. 80 |
| Net (liabilities)/assetsS$'000 | (2,713) | (1,463) | 1,328 | 2,149 | PDF p. 80 |
| (Capital deficiency)/equity | |||||
| Share capitalS$'000 | 48,044 | 46,364 | 48,044 | 46,364 | PDF p. 80 |
| Accumulated lossesS$'000 | (50,875) | (47,944) | (46,716) | (44,215) | PDF p. 80 |
| Foreign currency translation reserveS$'000 | 1 | – | – | – | PDF p. 80 |
| Attributable to equity holders of the CompanyS$'000 | (2,830) | (1,580) | 1,328 | 2,149 | PDF p. 80 |
| Non-controlling interestS$'000 | 117 | 117 | – | – | PDF p. 80 |
| Total (capital deficiency)/equityS$'000 | (2,713) | (1,463) | 1,328 | 2,149 | PDF p. 80 |
Definitions & sources
Original report: PDF p. 80 ↗
* Amount less than S$1,000
The accompanying notes form an integral part of these financial statements.
Unlabelled rows are printed subtotals for the section above them.
Consolidated Statement of Profit or Loss and Other Comprehensive Income
15 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, S$'000 | 2024Group, S$'000 | Source |
|---|---|---|---|
| Profit or loss | |||
| RevenueS$'000 | 3,192 | 2,323 | PDF p. 79 |
| Cost of salesS$'000 | (2,017) | (1,736) | PDF p. 79 |
| Gross profitS$'000 | 1,175 | 587 | PDF p. 79 |
| Other operating incomeS$'000 | 97 | 164 | PDF p. 79 |
| Selling and distribution expensesS$'000 | (482) | (884) | PDF p. 79 |
| Administrative expensesS$'000 | (3,631) | (3,667) | PDF p. 79 |
| Other operating expensesS$'000 | – | (15) | PDF p. 79 |
| Finance costsS$'000 | (87) | (54) | PDF p. 79 |
| Loss before taxS$'000 | (2,928) | (3,869) | PDF p. 79 |
| Income tax (expense)/creditS$'000 | (3) | 4 | PDF p. 79 |
| Other comprehensive income | |||
| Currency translation differences arising from consolidationS$'000 | 1 | (1) | PDF p. 79 |
| Other comprehensive income/(loss), net of taxS$'000 | 1 | (1) | PDF p. 79 |
| Total comprehensive income | |||
| Total comprehensive loss for the yearS$'000 | (2,930) | (3,866) | PDF p. 79 |
| Loss per share (cents per share) | |||
| – Basic (in cents)cents per share | (0.19) | (0.28) | PDF p. 79 |
| – Diluted (in cents)cents per share | (0.19) | (0.28) | PDF p. 79 |
Definitions & sources
Original report: PDF p. 79 ↗
Loss for the year (2,931) in 2025 and (3,865) in 2024 represents loss attributable to equity holders of the Company; total comprehensive loss is wholly attributable to equity holders of the Company (label wraps across lines, so not extracted as a single-line row).
The accompanying notes form an integral part of these financial statements.
Consolidated Statement of Cash Flows
36 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025The Group, S$'000 | 2024The Group, S$'000 | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Loss before taxS$'000 | (2,928) | (3,869) | PDF p. 83 |
| Operating - Adjustments for | |||
| Depreciation of property, plant and equipmentS$'000 | 108 | 115 | PDF p. 83 |
| Depreciation of right-of-use assetsS$'000 | 337 | 271 | PDF p. 83 |
| Amortisation of intangible assetsS$'000 | 17 | 25 | PDF p. 83 |
| Interest expense on lease liabilitiesS$'000 | 60 | 54 | PDF p. 83 |
| Interest expense on borrowingsS$'000 | 19 | – | PDF p. 83 |
| Gain on lease modificationS$'000 | – | (2) | PDF p. 83 |
| Unwinding of discount of deferred considerationS$'000 | 8 | – | PDF p. 83 |
| Performance shares awards expenseS$'000 | 811 | 741 | PDF p. 83 |
| Third party liabilities written backS$'000 | – | (77) | PDF p. 83 |
| Inventories written offS$'000 | 18 | – | PDF p. 83 |
| Cash flows from operating activities | |||
| Operating cash flow before changes in working capitalS$'000 | (1,550) | (2,742) | PDF p. 83 |
| Change in working capital | |||
| InventoriesS$'000 | 219 | (275) | PDF p. 83 |
| Trade and other receivablesS$'000 | (519) | (132) | PDF p. 83 |
| Trade and other payablesS$'000 | 708 | 1,534 | PDF p. 83 |
| Cash flows from operating activities | |||
| Net cash used in operationsS$'000 | (1,142) | (1,615) | PDF p. 83 |
| Income tax paidS$'000 | (1) | – | PDF p. 83 |
| Net cash used in operating activitiesS$'000 | (1,143) | (1,615) | PDF p. 83 |
| Cash flows from investing activities | |||
| Acquisition of property, plant and equipmentS$'000 | (6) | (9) | PDF p. 83 |
| Acquisition of intangible assetsS$'000 | (67) | – | PDF p. 83 |
| Net cash used in investing activitiesS$'000 | (73) | (9) | PDF p. 83 |
| Cash flows from financing activities | |||
| Payment for principal portion of lease liabilitiesS$'000 | (280) | (242) | PDF p. 83 |
| Payment for interest portion of lease liabilitiesS$'000 | (60) | (54) | PDF p. 83 |
| Payment for interest expense on borrowingsS$'000 | (19) | – | PDF p. 83 |
| Amounts due to directorsS$'000 | – | 6 | PDF p. 83 |
| Proceeds from loan from a directorS$'000 | 576 | 399 | PDF p. 83 |
| Repayment loan to directorS$'000 | (201) | – | PDF p. 83 |
| Proceeds from loan from key management personnelS$'000 | – | 500 | PDF p. 83 |
| Proceed from borrowing – factoring arrangementS$'000 | 736 | – | PDF p. 83 |
| Issuance of new ordinary shares, net of share issue expensesS$'000 | 869 | 715 | PDF p. 83 |
| Payment for considerationS$'000 | – | (100) | PDF p. 83 |
| Net cash from financing activitiesS$'000 | 1,621 | 1,224 | PDF p. 83 |
| Net change in cash | |||
| Net increase/(decrease) in cash and cash equivalentsS$'000 | 405 | (400) | PDF p. 83 |
| Cash and cash equivalents at beginning of the yearS$'000 | 8 | 409 | PDF p. 83 |
| Effect of currency translation on cash and cash equivalentsS$'000 | 1 | (1) | PDF p. 83 |
| Cash and cash equivalents at end of the yearS$'000 | 414 | 8 | PDF p. 83 |
Definitions & sources
Original report: PDF p. 83 ↗
Note A (reconciliation of liabilities arising from financing activities) is on page 82 and was not extracted. The Company has no separate cash flow statement in the report.
The accompanying notes form an integral part of these financial statements.
Group Statement of Changes in Equity - year ended 31 December 2024 movements
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group, Share capital, S$'000 | 2024Group, Accumulated losses, S$'000 | 2024Group, Foreign currency translation reserve, S$'000 | 2024Group, Total attributable to equity holders of the Company, S$'000 | 2024Group, Non-controlling interest, S$'000 | 2024Group, Capital deficiency (total), S$'000 | Source |
|---|---|---|---|---|---|---|---|
| Group | |||||||
| At 1 January 2024S$'000 | 42,745 | (44,079) | 1 | (1,333) | 117 | (1,216) | PDF p. 81 |
| Share issue expenses (Note 23)S$'000 | (113) | – | – | (113) | – | (113) | PDF p. 81 |
| Loss for the yearS$'000 | – | (3,865) | – | (3,865) | – | (3,865) | PDF p. 81 |
| Total comprehensive loss for the yearS$'000 | – | (3,865) | (1) | (3,866) | – | (3,866) | PDF p. 81 |
| At 31 December 2024S$'000 | 46,364 | (47,944) | – | (1,580) | 117 | (1,463) | PDF p. 81 |
Definitions & sources
Original report: PDF p. 81 ↗
Also printed: Issuance of new ordinary shares (Note 23): share capital 2,991, total 2,991; issuance pursuant to Share Plan: 741; currency translation differences: FCTR (1), total (1). Wrapped-label rows not extracted individually.
The accompanying notes form an integral part of these financial statements.
Group Statement of Changes in Equity - year ended 31 December 2025 movements
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, Share capital, S$'000 | 2025Group, Accumulated losses, S$'000 | 2025Group, Foreign currency translation reserve, S$'000 | 2025Group, Total attributable to equity holders of the Company, S$'000 | 2025Group, Non-controlling interest, S$'000 | 2025Group, Capital deficiency (total), S$'000 | Source |
|---|---|---|---|---|---|---|---|
| Group | |||||||
| At 1 January 2025S$'000 | 46,364 | (47,944) | – | (1,580) | 117 | (1,463) | PDF p. 81 |
| Share issue expenses (Note 23)S$'000 | (49) | – | – | (49) | – | (49) | PDF p. 81 |
| Loss for the yearS$'000 | – | (2,931) | – | (2,931) | – | (2,931) | PDF p. 81 |
| Total comprehensive loss for the yearS$'000 | – | (2,931) | 1 | (2,930) | – | (2,930) | PDF p. 81 |
| At 31 December 2025S$'000 | 48,044 | (50,875) | 1 | (2,830) | 117 | (2,713) | PDF p. 81 |
Definitions & sources
Original report: PDF p. 81 ↗
Also printed: Issuance of new ordinary shares (Note 23): share capital 918, total 918; issuance pursuant to Share Plan: 811; currency translation differences: FCTR 1, total 1. Wrapped-label rows not extracted individually.
The accompanying notes form an integral part of these financial statements.
Loss per share (Consolidated statement of profit or loss) and Note 10 Loss per share
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, FY2025 | 2024Group, FY2024 | Source |
|---|---|---|---|
| Loss per share attributable to equity holders of the Company (cents per share) | |||
| – Basic (in cents)cents per share | (0.19) | (0.28) | PDF p. 79 |
| – Diluted (in cents)cents per share | (0.19) | (0.28) | PDF p. 79 |
Definitions & sources
Original report: PDF p. 79 ↗
Basic and diluted loss per share are calculated by dividing the loss from operations for the year attributable to ordinary equity holders by the weighted average number of ordinary shares outstanding.
Note 10 Loss per share – computation data
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, FY2025 | 2024Group, FY2024 | Source |
|---|---|---|---|
| Note 10 | |||
| Weighted average number of ordinary shares, used in the computation of basic and diluted (loss)/earnings per share from operationsNo. of shares | 1,529,480,768 | 1,366,958,815 | PDF p. 103 |
| Loss per share based on the weighted average number of ordinary share (cents per share)cents per share | (0.19) | (0.28) | PDF p. 103 |
Definitions & sources
Original report: PDF p. 103 ↗
Basic and diluted share counts are identical as printed (single weighted average figure).
Where the money comes from
Segment information
By business
Segment assets, liabilities and other information, 31 December 2025 (Note 29(c)) 5 lines
| Item / unit | 2025Holding company | 2025Healthcare products and services | 2025Healthcare digital products | 2025Total | Source |
|---|---|---|---|---|---|
| Assets | |||||
| Segment assetsS$'000 | 543 | 3,123 | # | 3,666 | PDF p. 119 |
| Liabilities | |||||
| Segment liabilitiesS$'000 | (3,658) | (2,721) | # | (6,379) | PDF p. 119 |
| Other information | |||||
| AmortisationS$'000 | – | (17) | – | (17) | PDF p. 119 |
| DepreciationS$'000 | (70) | (375) | – | (445) | PDF p. 119 |
| Finance costS$'000 | (4) | (83) | – | (87) | PDF p. 119 |
Notes
# Amount less than S$1,000. Totals appear on a separate line in the source text.
Segment assets, liabilities and other information, 31 December 2024 (Note 29(c) continued) 2 lines
| Item / unit | 2024Holding company | 2024Healthcare products and services | 2024Healthcare digital products | 2024Total | Source |
|---|---|---|---|---|---|
| Other information | |||||
| AmortisationS$'000 | – | (25) | – | (25) | PDF p. 120 |
| DepreciationS$'000 | (76) | (310) | – | (386) | PDF p. 120 |
Notes
# Amount less than S$1,000. Totals 3,904 and (5,367) appear on separate lines in the source text.
Debt
Borrowings
Borrowing notes 2 tables
Loan and borrowings (unsecured)
| Item / unit | 2025Group S$'000 | 2024Group S$'000 (Restated) | 2025Company S$'000 | 2024Company S$'000 (Restated) | Source |
|---|---|---|---|---|---|
| Unsecured | |||||
| Factoring liabilitiesS$'000 | 233 | – | – | – | PDF p. 111 |
| Loan from a key management personnelS$'000 | 500 | 500 | 500 | 500 | PDF p. 111 |
| Loan from directorsS$'000 | 591 | 399 | 499 | 307 | PDF p. 111 |
| Total loan and borrowingsS$'000 | 1,324 | 899 | 999 | 807 | PDF p. 111 |
Notes
All loan and borrowings are classified as current liabilities at 31 December 2025 and (restated) 2024; no non-current borrowings.
Factoring liabilities are described in Note 19 text as secured by assigned trade receivables, bearing interest at 8.5% per annum, repayable upon collection; although listed under 'Unsecured' heading in the table.
Loan from key management personnel and directors: unsecured, non-interest bearing, repayable in full after 399 days, denominated in Singapore Dollars. Lenders confirmed they will not demand repayment until April 2027.
2024 restated: Group and Company loan and borrowing (non-current) 899/807 reclassified to current (Note 31).
Note 12(b) Lease liabilities - current/non-current presentation
| Item / unit | 2025Group S$'000 | 2024Group S$'000 | 2025Company S$'000 | 2024Company S$'000 | Source |
|---|---|---|---|---|---|
| Presented as | |||||
| CurrentS$'000 | 268 | 259 | 37 | 37 | PDF p. 105 |
| Non-currentS$'000 | 763 | 1,024 | 35 | 67 | PDF p. 105 |
| Lease liabilities | |||||
| At 31 DecemberS$'000 | 1,031 | 1,283 | 72 | 104 | PDF p. 105 |
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy | The Company will declare and/or recommend the payment of dividends to the Shareholders for approval after considering the Company’s ability to pay dividends, which will depend upon, among other things, its cash flows and earnings, general business conditions and strategies, current and future financial performance and position, and such other factors deemed relevant by the Board. The Board has absolute discretion on whether to pay a dividend, subject to Shareholders’ approval, where applicable. Even if the Board decides to recommend and pay dividends, the form, frequency and amount will depend upon the operations and earnings, capital requirements and surplus, general financial condition, contractual restrictions and other factors of and affecting the Group. | Company dividend policy adopted 1 April 2024 | PDF p. 66 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividends in respect of FY2025 | The Company did not declare any dividends in respect of FY2025 as it was in a loss-making position. | FY2025 | PDF p. 67 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | UHY LEE SENG CHAN & CO | Group and Company, FY2025 | PDF p. 78 |
| Engagement partner | Ms Xu Shuanghong | Group and Company, FY2025 | PDF p. 78 |
| Opinion | Our opinion is not modified in respect of this matter. | Group and Company, FY2025 | PDF p. 74 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Material Uncertainty Related to Going Concern | a material uncertainty exists that may cast significant doubt on the ability of the Group and the Company to continue as going concern | Group and Company, FY2025 | PDF p. 74 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Impairment Assessment of the Company’s Investment in Subsidiaries | The Company’s carrying amount of investment in subsidiaries amounted to S$4,044,000 which accounted for 75.9% of the Company’s total assets as at 31 December 2025. | Company, FY2025 | PDF p. 74 |
| Recoverability Assessment of the Company’s Amount Due from Subsidiaries | The Company’s gross amount due from subsidiaries totalled S$1,286,000 which accounted for 24.1% of the Company’s total assets as at 31 December 2025. | Company, FY2025 | PDF p. 75 |
| Impairment Assessment of Property, Plant and Equipment, Including Right-of-Use Assets | An impairment review is performed when there are indications of impairment. | Group and Company, FY2025 | PDF p. 76 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.