Nanofilm MZH
Financials
Nanofilm Annual Report 2025
Explore the statements
38 tablesConsolidated profit or loss and other comprehensive income
23 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Consolidated profit or loss and other comprehensive income | |||
| RevenueS$’000 | 244,567 | 204,269 | PDF p. 157 |
| Cost of salesS$’000 | (156,137) | (128,403) | PDF p. 157 |
| Gross profitS$’000 | 88,430 | 75,866 | PDF p. 157 |
| Other operating incomeS$’000 | 4,414 | 5,056 | PDF p. 157 |
| Finance incomeS$’000 | 1,404 | 3,189 | PDF p. 157 |
| Research & development and engineering expensesS$’000 | (18,278) | (14,980) | PDF p. 157 |
| Selling and distribution expensesS$’000 | (10,095) | (10,410) | PDF p. 157 |
| Administrative expensesS$’000 | (46,594) | (45,053) | PDF p. 157 |
| Finance expensesS$’000 | (2,662) | (3,619) | PDF p. 157 |
| Net impairment losses on trade receivables and contract assetsS$’000 | (167) | (225) | PDF p. 157 |
| Write off and loss on disposal of property, plant and equipmentS$’000 | (3,137) | (76) | PDF p. 157 |
| Share of loss of associateS$’000 | (75) | (103) | PDF p. 157 |
| Profit before income taxS$’000 | 13,240 | 9,645 | PDF p. 157 |
| Income tax expenseS$’000 | (1,320) | (2,110) | PDF p. 157 |
| Profit after income taxS$’000 | 11,920 | 7,535 | PDF p. 157 |
| Exchange difference arising from translation of foreign operationsS$’000 | (6,819) | 1,602 | PDF p. 157 |
| Total comprehensive income for the yearS$’000 | 5,101 | 9,137 | PDF p. 157 |
| Profit attributable to | |||
| Equity holders of the CompanyS$’000 | 11,803 | 7,744 | PDF p. 157 |
| Non-controlling interestsS$’000 | 117 | (209) | PDF p. 157 |
| SubtotalS$’000 | 11,920 | 7,535 | PDF p. 157 |
| Total comprehensive income attributable to | |||
| Equity holders of the CompanyS$’000 | 5,143 | 9,284 | PDF p. 157 |
| Non-controlling interestsS$’000 | (42) | (147) | PDF p. 157 |
| SubtotalS$’000 | 5,101 | 9,137 | PDF p. 157 |
Definitions & sources
Original report: PDF p. 157 ↗
Earnings per share
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Earnings per share attributable to equity holders of the Company (cents) | |||
| Basic earnings per shareSGD cents per share | 1.80 | 1.18 | PDF p. 157 |
| Diluted earnings per shareSGD cents per share | 1.80 | 1.18 | PDF p. 157 |
Definitions & sources
Original report: PDF p. 157 ↗
Statements of financial position
36 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Statements of financial position | |||||
| Property, plant and equipmentS$’000 | 306,300 | 304,515 | 54,091 | 59,880 | PDF p. 158 |
| Land use rightsS$’000 | 10,609 | 11,051 | - | - | PDF p. 158 |
| Intangible assetsS$’000 | 65,301 | 53,013 | 7,428 | 9,058 | PDF p. 158 |
| Investment in subsidiariesS$’000 | - | - | 164,485 | 148,169 | PDF p. 158 |
| Investment in associateS$’000 | 3,714 | 3,789 | - | - | PDF p. 158 |
| Trade and other receivables and other non- current assetsS$’000 | - | - | 11,847 | 3,595 | PDF p. 158 |
| Other financial assetsS$’000 | 1,367 | 1,367 | - | - | PDF p. 158 |
| Deferred tax assetsS$’000 | 5,099 | 4,278 | - | - | PDF p. 158 |
| SubtotalS$’000 | 392,390 | 378,013 | 237,851 | 220,702 | PDF p. 158 |
| Current assets | |||||
| InventoriesS$’000 | 20,346 | 17,104 | 6,142 | 5,011 | PDF p. 158 |
| Trade and other receivables, and other current assetsS$’000 | 122,469 | 111,757 | 29,604 | 20,646 | PDF p. 158 |
| Contract assetsS$’000 | 20,967 | 18,012 | - | - | PDF p. 158 |
| Cash and bank balancesS$’000 | 84,550 | 110,207 | 29,539 | 57,051 | PDF p. 158 |
| SubtotalS$’000 | 248,332 | 257,080 | 65,285 | 82,708 | PDF p. 158 |
| Total assetsS$’000 | 640,722 | 635,093 | 303,136 | 303,410 | PDF p. 158 |
| Company | |||||
| Share capitalS$’000 | 266,927 | 266,927 | 266,927 | 266,927 | PDF p. 158 |
| Treasury sharesS$’000 | (22,336) | (23,498) | (22,336) | (23,498) | PDF p. 158 |
| ReservesS$’000 | 193,113 | 144,431 | 8,545 | 11,920 | PDF p. 158 |
| SubtotalS$’000 | 437,704 | 387,860 | 253,136 | 255,349 | PDF p. 158 |
| Non-controlling interestsS$’000 | 32,106 | 42,090 | - | - | PDF p. 158 |
| Total equityS$’000 | 469,810 | 429,950 | 253,136 | 255,349 | PDF p. 158 |
| Non-current liabilities | |||||
| Bank loansS$’000 | 81,776 | 76,728 | 18,796 | 20,668 | PDF p. 158 |
| Lease liabilitiesS$’000 | 13,788 | 17,375 | 8,005 | 9,241 | PDF p. 158 |
| Trade and other payablesS$’000 | - | 53,100 | - | - | PDF p. 158 |
| ProvisionsS$’000 | 269 | - | - | - | PDF p. 158 |
| Deferred tax liabilitiesS$’000 | 1,685 | 1,526 | 1,331 | 1,331 | PDF p. 158 |
| SubtotalS$’000 | 97,518 | 148,729 | 28,132 | 31,240 | PDF p. 158 |
| Current liabilities | |||||
| Trade and other payablesS$’000 | 58,798 | 42,605 | 18,938 | 12,669 | PDF p. 158 |
| Contract liabilitiesS$’000 | 854 | 602 | 485 | 221 | PDF p. 158 |
| Bank loansS$’000 | 10,650 | 8,229 | 1,872 | 1,872 | PDF p. 158 |
| Lease liabilitiesS$’000 | 1,883 | 3,344 | 387 | 1,757 | PDF p. 158 |
| ProvisionsS$’000 | 133 | 297 | 84 | 200 | PDF p. 158 |
| Provision for taxationS$’000 | 1,076 | 1,337 | 102 | 102 | PDF p. 158 |
| SubtotalS$’000 | 73,394 | 56,414 | 21,868 | 16,821 | PDF p. 158 |
| Total liabilitiesS$’000 | 170,912 | 205,143 | 50,000 | 48,061 | PDF p. 158 |
| Total equity and liabilitiesS$’000 | 640,722 | 635,093 | 303,136 | 303,410 | PDF p. 158 |
Definitions & sources
Original report: PDF p. 158 ↗
Consolidated cash flows
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Consolidated cash flows | |||
| Profit before income taxS$’000 | 13,240 | 9,645 | PDF p. 162 |
| Adjustments for: | |||
| Depreciation of property, plant and equipmentS$’000 | 31,851 | 30,011 | PDF p. 162 |
| Amortisation of land use rightsS$’000 | 254 | 260 | PDF p. 162 |
| Amortisation of intangible assetsS$’000 | 11,877 | 9,462 | PDF p. 162 |
| Finance expensesS$’000 | 2,662 | 3,619 | PDF p. 162 |
| Finance incomeS$’000 | (1,404) | (3,189) | PDF p. 162 |
| Provision for warranties and restoration of property, plant and equipmentS$’000 | 182 | 185 | PDF p. 162 |
| Reversal of provision for warranties and restoration costS$’000 | (324) | (219) | PDF p. 162 |
| Write off/loss/(Gain) on disposal of property, plant and equipmentS$’000 | 2,877 | (69) | PDF p. 162 |
| Expenses recognised in respect of share options grantedS$’000 | 11 | 87 | PDF p. 162 |
| Expenses recognised in respect of award share expenses under RSPS$’000 | 790 | 995 | PDF p. 162 |
| Exchange differences – unrealisedS$’000 | (1,418) | (751) | PDF p. 162 |
| Share of loss of associateS$’000 | 75 | 103 | PDF p. 162 |
| Operating cash flow before working capital changesS$’000 | 60,673 | 50,139 | PDF p. 162 |
| InventoriesS$’000 | (2,035) | 1,974 | PDF p. 162 |
| Trade, other receivables and other current assets (include contract assets)S$’000 | (13,456) | (34,611) | PDF p. 162 |
| Trade, other payables and provisions (include contract liabilities)S$’000 | 6,802 | 5,752 | PDF p. 162 |
| Cash generated from operationsS$’000 | 51,984 | 23,254 | PDF p. 162 |
| Interest paidS$’000 | (2,181) | (2,888) | PDF p. 162 |
| Interest receivedS$’000 | 1,404 | 3,189 | PDF p. 162 |
| Income tax paidS$’000 | (2,571) | (2,331) | PDF p. 162 |
| Net cash generated from operating activitiesS$’000 | 48,636 | 21,224 | PDF p. 162 |
| Cash Flows from Investing Activities | |||
| Acquisition of subsidiaries, net of cash acquiredS$’000 | (5,252) | (9,210) | PDF p. 162 |
| Purchase of property, plant and equipmentS$’000 | (46,877) | (34,879) | PDF p. 162 |
| Proceeds from disposal of property, plant and equipmentS$’000 | 575 | 226 | PDF p. 162 |
| Additions to intangible assetsS$’000 | (16,242) | (15,228) | PDF p. 162 |
| Net cash used in investing activitiesS$’000 | (67,796) | (59,091) | PDF p. 162 |
| Cash Flows from Financing Activities | |||
| Acquisition of a non-controlling interestS$’000 | (5,000) | - | PDF p. 162 |
| Proceeds from bank loansS$’000 | 18,435 | 9,435 | PDF p. 162 |
| Repayment of bank loansS$’000 | (11,841) | (8,208) | PDF p. 162 |
| Payment of lease liabilitiesS$’000 | (3,457) | (4,385) | PDF p. 162 |
| Dividends paidS$’000 | (4,301) | (4,297) | PDF p. 162 |
| Net cash used in financing activitiesS$’000 | (6,164) | (7,455) | PDF p. 162 |
| Net decrease in cash and cash equivalentsS$’000 | (25,324) | (45,322) | PDF p. 162 |
| Cash and cash equivalents at the beginning of the yearS$’000 | 110,207 | 155,209 | PDF p. 162 |
| Effects of exchange rate changes on cash and cash equivalents held in foreign currenciesS$’000 | (333) | 320 | PDF p. 162 |
| Cash and cash equivalents at the end of the yearS$’000 | 84,550 | 110,207 | PDF p. 162 |
Definitions & sources
Original report: PDF p. 162 ↗
Group changes in equity FY2025
15 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025GroupShare capital | 2025GroupTreasury shares | 2025GroupTranslation reserve | 2025GroupStatutory reserve | 2025GroupOther reserves | 2025GroupAccumulated profits | 2025GroupTotal attributable to equity holders | 2025GroupNon-controlling interests | 2025GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Changes in equity | ||||||||||
| At 1 January 2025S$’000 | 266,927 | (23,498) | (34,985) | 7,351 | (70,697) | 242,762 | 387,860 | 42,090 | 429,950 | PDF p. 159 |
| Profit for the yearS$’000 | - | - | - | - | - | 11,803 | 11,803 | 117 | 11,920 | PDF p. 159 |
| Other comprehensive incomeS$’000 | - | - | (6,660) | - | - | - | (6,660) | (159) | (6,819) | PDF p. 159 |
| Total comprehensive income for the yearS$’000 | - | - | (6,660) | - | - | 11,803 | 5,143 | (42) | 5,101 | PDF p. 159 |
| Transfer of statutory reserveS$’000 | - | - | - | 277 | - | (277) | - | - | - | PDF p. 159 |
| – DividendsS$’000 | - | - | - | - | - | (4,301) | (4,301) | - | (4,301) | PDF p. 159 |
| – Acquisition of non-controlling interestS$’000 | - | - | - | - | 5,483 | (541) | 4,942 | (9,942) | (5,000) | PDF p. 159 |
| – Reversal of put option relating to interest in non-controlling interestS$’000 | - | - | - | - | 53,100 | - | 53,100 | - | 53,100 | PDF p. 159 |
| – Deferred consideration for acquisition of non-controlling interestS$’000 | - | - | - | - | (10,000) | - | (10,000) | - | (10,000) | PDF p. 159 |
| – Merger of entities under common controlS$’000 | - | - | - | - | 172 | - | 172 | - | 172 | PDF p. 159 |
| – Treasury shares re-issued under ESOS Scheme 2017 and RSP 2021S$’000 | - | 1,162 | - | - | (1,175) | - | (13) | - | (13) | PDF p. 159 |
| – Adjustment on employee share optionsS$’000 | - | - | - | - | 11 | - | 11 | - | 11 | PDF p. 159 |
| – Adjustment on restricted share planS$’000 | - | - | - | - | 790 | - | 790 | - | 790 | PDF p. 159 |
| Total transactions with equity holdersS$’000 | - | 1,162 | - | - | 48,381 | (4,842) | 44,701 | (9,942) | 34,759 | PDF p. 159 |
| At 31 December 2025S$’000 | 266,927 | (22,336) | (41,645) | 7,628 | (22,316) | 249,446 | 437,704 | 32,106 | 469,810 | PDF p. 159 |
Definitions & sources
Original report: PDF p. 159 ↗
Group changes in equity FY2024
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024GroupShare capital | 2024GroupTreasury shares | 2024GroupTranslation reserve | 2024GroupStatutory reserve | 2024GroupOther reserves | 2024GroupAccumulated profits | 2024GroupTotal attributable to equity holders | 2024GroupNon-controlling interests | 2024GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Changes in equity | ||||||||||
| At 1 January 2024S$’000 | 266,927 | (32,653) | (36,525) | 7,142 | (64,543) | 239,524 | 379,872 | 44,132 | 424,004 | PDF p. 160 |
| Profit for the yearS$’000 | - | - | - | - | - | 7,744 | 7,744 | (209) | 7,535 | PDF p. 160 |
| Other comprehensive incomeS$’000 | - | - | 1,540 | - | - | - | 1,540 | 62 | 1,602 | PDF p. 160 |
| Total comprehensive income for the yearS$’000 | - | - | 1,540 | - | - | 7,744 | 9,284 | (147) | 9,137 | PDF p. 160 |
| Transfer of statutory reserveS$’000 | - | - | - | 209 | - | (209) | - | - | - | PDF p. 160 |
| – DividendsS$’000 | - | - | - | - | - | (4,297) | (4,297) | - | (4,297) | PDF p. 160 |
| – Treasury shares re-issued for settlement of NTI Swap Shares to acquire interest in non- controlling interestS$’000 | - | 7,704 | - | - | (5,809) | - | 1,895 | (1,895) | - | PDF p. 160 |
| – Treasury shares re-issued under ESOS Scheme 2017 and RSP 2021S$’000 | - | 1,451 | - | - | (1,427) | - | 24 | - | 24 | PDF p. 160 |
| – Adjustment on employee share optionsS$’000 | - | - | - | - | 87 | - | 87 | - | 87 | PDF p. 160 |
| – Adjustment on restricted share planS$’000 | - | - | - | - | 995 | - | 995 | - | 995 | PDF p. 160 |
| Total transactions with equity holdersS$’000 | - | 9,155 | - | - | (6,154) | (4,297) | (1,296) | (1,895) | (3,191) | PDF p. 160 |
| At 31 December 2024S$’000 | 266,927 | (23,498) | (34,985) | 7,351 | (70,697) | 242,762 | 387,860 | 42,090 | 429,950 | PDF p. 160 |
Definitions & sources
Original report: PDF p. 160 ↗
Company changes in equity FY2025
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025CompanyShare capital | 2025CompanyTreasury shares | 2025CompanyOther reserves | 2025CompanyAccumulated profits | 2025CompanyTotal equity | Source |
|---|---|---|---|---|---|---|
| Changes in equity | ||||||
| At 1 January 2025S$’000 | 266,927 | (23,498) | (12,198) | 24,118 | 255,349 | PDF p. 161 |
| Profit for the year, representing total comprehensive income for the yearS$’000 | - | - | - | 1,303 | 1,303 | PDF p. 161 |
| – DividendsS$’000 | - | - | - | (4,301) | (4,301) | PDF p. 161 |
| – Treasury shares re-issued under ESOS Scheme 2017 and RSP 2021S$’000 | - | 1,162 | (1,175) | - | (13) | PDF p. 161 |
| – Adjustment on employee share optionsS$’000 | - | - | 11 | - | 11 | PDF p. 161 |
| – Adjustment on restricted share planS$’000 | - | - | 787 | - | 787 | PDF p. 161 |
| Total transactions with equity holdersS$’000 | - | 1,162 | (377) | (4,301) | (3,516) | PDF p. 161 |
| At 31 December 2025S$’000 | 266,927 | (22,336) | (12,575) | 21,120 | 253,136 | PDF p. 161 |
Definitions & sources
Original report: PDF p. 161 ↗
Company changes in equity FY2024
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024CompanyShare capital | 2024CompanyTreasury shares | 2024CompanyOther reserves | 2024CompanyAccumulated profits | 2024CompanyTotal equity | Source |
|---|---|---|---|---|---|---|
| Changes in equity | ||||||
| At 1 January 2024S$’000 | 266,927 | (32,653) | (11,836) | 33,463 | 255,901 | PDF p. 161 |
| Loss for the year, representing total comprehensive income for the yearS$’000 | - | - | - | (5,048) | (5,048) | PDF p. 161 |
| – DividendsS$’000 | - | - | - | (4,297) | (4,297) | PDF p. 161 |
| – Treasury shares re-issued for settlement of NTI Swap Shares to acquire interest in non-controlling interestS$’000 | - | 7,704 | - | - | 7,704 | PDF p. 161 |
| – Treasury shares re-issued under ESOS Scheme 2017 and RSP 2021S$’000 | - | 1,451 | (1,427) | - | 24 | PDF p. 161 |
| – Adjustment on employee share optionsS$’000 | - | - | 87 | - | 87 | PDF p. 161 |
| – Adjustment on restricted share planS$’000 | - | - | 978 | - | 978 | PDF p. 161 |
| Total transactions with equity holdersS$’000 | - | 9,155 | (362) | (4,297) | 4,496 | PDF p. 161 |
| At 31 December 2024S$’000 | 266,927 | (23,498) | (12,198) | 24,118 | 255,349 | PDF p. 161 |
Definitions & sources
Original report: PDF p. 161 ↗
Three-year financial highlights
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2023Group | Source |
|---|---|---|---|---|
| Financial highlights | ||||
| REVENUE (IN S$M)SGD million | 245 | 204 | 177 | PDF p. 14 |
| ADJUSTED EBITDA (IN S$M) S$63 millionSGD million | 63 | 52 | 39 | PDF p. 14 |
| PAT (1) (IN S$M)SGD million | 12 | 8 | 3 | PDF p. 14 |
Definitions & sources
Original report: PDF p. 14 ↗
Only three years are disclosed in these charts. Adjusted EBITDA is the original adjusted measure; PAT means profit after tax. Original rounded SGD-million values retained.
Revenue by business unit
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2023Group | Source |
|---|---|---|---|---|
| Financial highlights | ||||
| AMBUSGD million | 206.9 | 172.1 | 141.5 | PDF p. 15 |
| IEBUSGD million | 17.0 | 11.3 | 18.4 | PDF p. 15 |
| NFBUSGD million | 18.2 | 18.0 | 16.0 | PDF p. 15 |
| SydrogenSGD million | 2.5 | 2.8 | 1.1 | PDF p. 15 |
| TOTALSGD million | 244.6 | 204.3 | 177.0 | PDF p. 15 |
Definitions & sources
Original report: PDF p. 15 ↗
Original rounded figures; numbers may not tie due to rounding.
Revenue by end-market
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2023Group | Source |
|---|---|---|---|---|
| Financial highlights | ||||
| ConsumerSGD million | 166.5 | 141.4 | 115.3 | PDF p. 15 |
| IndustrialSGD million | 75.5 | 60.1 | 60.6 | PDF p. 15 |
| New EnergySGD million | 2.5 | 2.8 | 1.1 | PDF p. 15 |
| TOTALSGD million | 244.6 | 204.3 | 177.0 | PDF p. 15 |
Definitions & sources
Original report: PDF p. 15 ↗
Original rounded figures; numbers may not tie due to rounding.
Company investment in subsidiaries
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company | 2024Company | Source |
|---|---|---|---|
| Company investment in subsidiaries | |||
| At 1 January, at costS$’000 | 140,495 | 122,716 | PDF p. 206 |
| AdditionsS$’000 | 16,359 | 17,779 | PDF p. 206 |
| Reduction in cost of capital (Note 15(d))S$’000 | (588) | - | PDF p. 206 |
| At 31 December; at costS$’000 | 156,266 | 140,495 | PDF p. 206 |
| Fair value adjustment to non-current loansS$’000 | 6,319 | 6,036 | PDF p. 206 |
| Adjustment on award share expenses under RSP 2021S$’000 | 1,900 | 1,638 | PDF p. 206 |
| SubtotalS$’000 | 164,485 | 148,169 | PDF p. 206 |
Definitions & sources
Original report: PDF p. 206 ↗
Investment in associate carrying amount
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Investment in associate carrying amount | |||||
| At costS$’000 | 4,061 | 4,061 | - | - | PDF p. 214 |
| Less: Share of lossS$’000 | (347) | (272) | - | - | PDF p. 214 |
| SubtotalS$’000 | 3,714 | 3,789 | - | - | PDF p. 214 |
Definitions & sources
Original report: PDF p. 214 ↗
Zulu Inc financial information and carrying amount
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Zulu Inc | 2024Zulu Inc | Source |
|---|---|---|---|
| Zulu Inc financial information and carrying amount | |||
| Percentage ownership interest% | 21.9% | 21.9% | PDF p. 215 |
| Non-current assetsS$’000 | 44 | 93 | PDF p. 215 |
| Current assetsS$’000 | 1,702 | 1,487 | PDF p. 215 |
| Current liabilitiesS$’000 | (1,395) | (884) | PDF p. 215 |
| Net assets of the associateS$’000 | 351 | 696 | PDF p. 215 |
| Proportion of the Group’s ownership in Zulu Inc.% | 21.9% | 21.9% | PDF p. 215 |
| Group’s share of net assetsS$’000 | 77 | 152 | PDF p. 215 |
| GoodwillS$’000 | 3,637 | 3,637 | PDF p. 215 |
| Carrying amount of the Group’s interest in Zulu Inc.S$’000 | 3,714 | 3,789 | PDF p. 215 |
| RevenueS$’000 | 189 | 79 | PDF p. 215 |
| Loss for the yearS$’000 | (344) | (469) | PDF p. 215 |
Definitions & sources
Original report: PDF p. 215 ↗
Zulu Inc amounts are the associate’s own financial statements; ownership percentage is separate from consolidated Group balances.
Unquoted equity investment at FVOCI
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Unquoted equity investment at FVOCI | |||
| Investment in unquoted equity (non-current)S$’000 | 1,367 | 1,367 | PDF p. 215 |
Definitions & sources
Original report: PDF p. 215 ↗
Bank loans current and non-current
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Bank loans current and non-current | |||||
| CurrentS$’000 | 10,650 | 8,229 | 1,872 | 1,872 | PDF p. 229 |
| Non-currentS$’000 | 81,776 | 76,728 | 18,796 | 20,668 | PDF p. 229 |
| TotalS$’000 | 92,426 | 84,957 | 20,668 | 22,540 | PDF p. 229 |
Definitions & sources
Original report: PDF p. 229 ↗
Right-of-use asset carrying amounts
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Right-of-use asset carrying amounts | |||||
| Leasehold landS$’000 | 7,954 | 7,959 | 7,954 | 7,959 | PDF p. 230 |
| Plant and machineryS$’000 | 5,683 | 6,819 | - | - | PDF p. 230 |
| Buildings and renovationS$’000 | 1,369 | 5,619 | 253 | 2,860 | PDF p. 230 |
| SubtotalS$’000 | 15,006 | 20,397 | 8,207 | 10,819 | PDF p. 230 |
Definitions & sources
Original report: PDF p. 230 ↗
Right-of-use asset depreciation
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Right-of-use asset depreciation | |||||
| Leasehold landS$’000 | 277 | 264 | 277 | 264 | PDF p. 231 |
| Plant and machineryS$’000 | 1,021 | 1,042 | - | - | PDF p. 231 |
| Buildings and renovationS$’000 | 1,735 | 2,341 | 846 | 1,616 | PDF p. 231 |
| SubtotalS$’000 | 3,033 | 3,647 | 1,123 | 1,880 | PDF p. 231 |
Definitions & sources
Original report: PDF p. 231 ↗
Lease expenses and cash outflow
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Lease expenses and cash outflow | |||
| Interest on lease liabilitiesS$’000 | 543 | 719 | PDF p. 231 |
| Expenses relating to short-term leases and low value assets (included in cost of sales and administrative expenses)S$’000 | 373 | 258 | PDF p. 231 |
| SubtotalS$’000 | 916 | 977 | PDF p. 231 |
| Total cash outflow for leases (excluding short-term leases)S$’000 | (3,457) | (4,385) | PDF p. 231 |
Definitions & sources
Original report: PDF p. 231 ↗
Lease liabilities current and non-current
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Lease liabilities current and non-current | |||||
| CurrentS$’000 | 1,883 | 3,344 | 387 | 1,757 | PDF p. 231 |
| Non-currentS$’000 | 13,788 | 17,375 | 8,005 | 9,241 | PDF p. 231 |
| SubtotalS$’000 | 15,671 | 20,719 | 8,392 | 10,998 | PDF p. 231 |
Definitions & sources
Original report: PDF p. 231 ↗
Material NCI subsidiaries financial position before intragroup eliminations
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025NHT | 2024NHT | 2025SDE Group | 2024SDE Group | Source |
|---|---|---|---|---|---|
| Current financial position | |||||
| AssetsS$’000 | 21,644 | 15,898 | 15,739 | 22,821 | PDF p. 212 |
| LiabilitiesS$’000 | (6,542) | (3,955) | (5,764) | (4,892) | PDF p. 212 |
| Total current net assetsS$’000 | 15,102 | 11,943 | 9,975 | 17,929 | PDF p. 212 |
| Non-current financial position | |||||
| Non-current AssetsS$’000 | 15,827 | 17,771 | 93,180 | 91,705 | PDF p. 212 |
| LiabilitiesS$’000 | (6,943) | (9,859) | (3,245) | (4,028) | PDF p. 212 |
| Total non-current net assetsS$’000 | 8,884 | 7,912 | 89,935 | 87,677 | PDF p. 212 |
| Total net assets | |||||
| Net assetsS$’000 | 23,986 | 19,855 | 99,910 | 105,606 | PDF p. 212 |
Definitions & sources
Original report: PDF p. 212 ↗
Material NCI subsidiaries performance and cash flows before intragroup eliminations
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025NHT | 2024NHT | 2025SDE Group | 2024SDE Group | Source |
|---|---|---|---|---|---|
| Summarised profit or loss and comprehensive income | |||||
| RevenueS$’000 | 33,189 | 30,348 | 2,852 | 2,798 | PDF p. 213 |
| ExpensesS$’000 | (28,792) | (27,491) | (8,207) | (6,575) | PDF p. 213 |
| Profit/(loss) for the yearS$’000 | 4,397 | 2,857 | (5,355) | (3,777) | PDF p. 213 |
| Profit/(loss) attributable to non-controlling interestsS$’000 | 2,155 | 1,400 | (1,593) | (1,322) | PDF p. 213 |
| Total comprehensive income/(loss) attributable to non-controlling interestsS$’000 | 2,024 | 1,420 | (1,594) | (1,672) | PDF p. 213 |
| Summarised cash flow | |||||
| Net cash generated from/(used in) operating activitiesS$’000 | 2,862 | 3,149 | (1,414) | (2,904) | PDF p. 213 |
| Net cash used in investing activitiesS$’000 | (77) | (145) | (6,276) | (4,258) | PDF p. 213 |
| Net cash (used in)/generated from financing activitiesS$’000 | (2,255) | (2,918) | 1,337 | (195) | PDF p. 213 |
Definitions & sources
Original report: PDF p. 213 ↗
Material non-controlling interest ownership and attribution
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Non-controlling interestsOwnership interests (%) | 2024Non-controlling interestsOwnership interests (%) | 2025Non-controlling interestsProfit or loss allocated (S$’000) | 2024Non-controlling interestsProfit or loss allocated (S$’000) | 2025Non-controlling interestsAccumulated interests (S$’000) | 2024Non-controlling interestsAccumulated interests (S$’000) | Source |
|---|---|---|---|---|---|---|---|
| Material non-controlling interest ownership and attribution | |||||||
| Yizheng Nahuan Technologies Co., Ltd (“NHT”)Mixed: ownership %; profit and accumulated interests S$’000 | 49 | 49 | 2,155 | 1,400 | 11,753 | 9,729 | PDF p. 212 |
| Sydrogen Energy Pte. Ltd. and its subsidiaries (“SDE Group”)Mixed: ownership %; profit and accumulated interests S$’000 | 23 | 35 | (1,593) | (1,322) | 18,695 | 30,231 | PDF p. 212 |
Definitions & sources
Original report: PDF p. 212 ↗
SDE Group FY2024 accumulated NCI is computed using the non-controlling interest contribution of S$35,000,000 and cumulative share of loss; original source note (1) retained.
Other and total non-controlling interests
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Non-controlling interestsProfit or loss allocated (S$’000) | 2024Non-controlling interestsProfit or loss allocated (S$’000) | 2025Non-controlling interestsAccumulated interests (S$’000) | 2024Non-controlling interestsAccumulated interests (S$’000) | Source |
|---|---|---|---|---|---|
| Other and total non-controlling interests | |||||
| Other subsidiaries with immaterial non- controlling interestsS$’000 | (445) | (287) | 1,658 | 2,130 | PDF p. 212 |
| SubtotalS$’000 | 117 | (209) | 32,106 | 42,090 | PDF p. 212 |
Definitions & sources
Original report: PDF p. 212 ↗
SDE Group FY2024 accumulated NCI is computed using the non-controlling interest contribution of S$35,000,000 and cumulative share of loss; original source note (1) retained.
Basic earnings per share calculation
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Basic earnings per share calculation | |||
| Profit for the year attributable to equity holders of the Company (S$’000)S$’000 | 11,803 | 7,744 | PDF p. 194 |
| Weighted average number of ordinary shares (‘000)ordinary shares thousands | 654,997 | 654,822 | PDF p. 194 |
| Basic earnings per share (cents)SGD cents per share | 1.80 | 1.18 | PDF p. 194 |
Definitions & sources
Original report: PDF p. 194 ↗
Diluted earnings per share calculation
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Diluted earnings per share calculation | |||
| Profit for the year attributable to equity holders of the Company (S$’000)S$’000 | 11,803 | 7,744 | PDF p. 195 |
| Weighted average number of ordinary shares (‘000)ordinary shares thousands | 654,997 | 654,822 | PDF p. 195 |
| – Share optionsordinary shares thousands | 7 | 27 | PDF p. 195 |
| – Restricted share planordinary shares thousands | 1,692 | 1,925 | PDF p. 195 |
| Subtotalordinary shares thousands | 656,696 | 656,774 | PDF p. 195 |
| Diluted earnings per share (cents)SGD cents per share | 1.80 | 1.18 | PDF p. 195 |
Definitions & sources
Original report: PDF p. 195 ↗
Ordinary dividends paid
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group and Company | 2024Group and Company | Source |
|---|---|---|---|
| Ordinary dividends paid | |||
| One-tier tax exempt final dividend of a total of S$0.0033 per share paid on 20 May 2025 in respect of the financial year ended 31 December 2024S$’000 | 2,150 | - | PDF p. 237 |
| One-tier tax exempt interim dividend of a total of S$0.0033 per share paid on 5 September 2025 in respect of the financial year ended 31 December 2025S$’000 | 2,151 | - | PDF p. 237 |
| One-tier tax exempt final dividend of a total of S$0.0033 per share paid on 20 May 2024 in respect of the financial year ended 31 December 2023S$’000 | - | 2,148 | PDF p. 237 |
| One-tier tax exempt interim dividend of a total of S$0.0033 per share paid on 6 September 2024 in respect of the financial year ended 31 December 2024S$’000 | - | 2,149 | PDF p. 237 |
| SubtotalS$’000 | 4,301 | 4,297 | PDF p. 237 |
Definitions & sources
Original report: PDF p. 237 ↗
Financing liabilities movement FY2025
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025GroupBank loans | 2025GroupLease liabilities | 2025GroupTotal | Source |
|---|---|---|---|---|
| Financing liabilities movement FY2025 | ||||
| At 1 JanuaryS$’000 | 84,957 | 20,719 | 105,676 | PDF p. 238 |
| ProceedsS$’000 | 18,435 | - | 18,435 | PDF p. 238 |
| Acquisition of subsidiariesS$’000 | 1,335 | - | 1,335 | PDF p. 238 |
| RepaymentS$’000 | (11,841) | (3,457) | (15,298) | PDF p. 238 |
| Non-cash changes: Addition during the yearS$’000 | - | 1,452 | 1,452 | PDF p. 238 |
| Disposal during the yearS$’000 | - | (2,857) | (2,857) | PDF p. 238 |
| Currency translation differencesS$’000 | (460) | (186) | (646) | PDF p. 238 |
| At 31 DecemberS$’000 | 92,426 | 15,671 | 108,097 | PDF p. 238 |
Definitions & sources
Original report: PDF p. 238 ↗
Financing liabilities movement FY2024
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024GroupBank loans | 2024GroupLease liabilities | 2024GroupTotal | Source |
|---|---|---|---|---|
| Financing liabilities movement FY2024 | ||||
| At 1 JanuaryS$’000 | 82,196 | 23,562 | 105,758 | PDF p. 238 |
| ProceedsS$’000 | 9,435 | - | 9,435 | PDF p. 238 |
| Acquisition of a subsidiaryS$’000 | 1,586 | - | 1,586 | PDF p. 238 |
| RepaymentS$’000 | (8,208) | (4,385) | (12,593) | PDF p. 238 |
| Non-cash changes: Addition during the yearS$’000 | - | 3,144 | 3,144 | PDF p. 238 |
| Disposal during the yearS$’000 | - | (1,604) | (1,604) | PDF p. 238 |
| Currency translation differencesS$’000 | (52) | 2 | (50) | PDF p. 238 |
| At 31 DecemberS$’000 | 84,957 | 20,719 | 105,676 | PDF p. 238 |
Definitions & sources
Original report: PDF p. 238 ↗
Adjusted EBITDA to profit reconciliation
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Adjusted EBITDA to profit reconciliation | |||
| Adjusted EBITDA for reportable segments (1)S$’000 | 62,829 | 51,806 | PDF p. 257 |
| DepreciationS$’000 | (31,851) | (30,011) | PDF p. 257 |
| AmortisationS$’000 | (12,131) | (9,722) | PDF p. 257 |
| (Write off/loss)/Gain on disposal of property, plant and equipmentS$’000 | (2,877) | 69 | PDF p. 257 |
| Other professional feesS$’000 | (682) | (1,072) | PDF p. 257 |
| Award shares expenses under RSP 2021S$’000 | (790) | (995) | PDF p. 257 |
| Finance incomeS$’000 | 1,404 | 3,189 | PDF p. 257 |
| Finance expensesS$’000 | (2,662) | (3,619) | PDF p. 257 |
| Profit before income taxS$’000 | 13,240 | 9,645 | PDF p. 257 |
| Income taxS$’000 | (1,320) | (2,110) | PDF p. 257 |
| Profit after income taxS$’000 | 11,920 | 7,535 | PDF p. 257 |
Definitions & sources
Original report: PDF p. 257 ↗
Geographical external revenue by entities place of business
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Geographical external revenue by entities place of business | |||
| SingaporeS$’000 | 41,190 | 35,483 | PDF p. 257 |
| ChinaS$’000 | 182,559 | 154,504 | PDF p. 257 |
| JapanS$’000 | 7,403 | 9,067 | PDF p. 257 |
| VietnamS$’000 | 2,166 | 177 | PDF p. 257 |
| EuropeS$’000 | 11,132 | 5,038 | PDF p. 257 |
| IndiaS$’000 | 117 | - | PDF p. 257 |
| Total revenueS$’000 | 244,567 | 204,269 | PDF p. 257 |
Definitions & sources
Original report: PDF p. 257 ↗
Geographical non-current non-financial assets
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Geographical non-current non-financial assets | |||
| SingaporeS$’000 | 63,762 | 77,786 | PDF p. 258 |
| ChinaS$’000 | 275,161 | 264,826 | PDF p. 258 |
| JapanS$’000 | 166 | 2,408 | PDF p. 258 |
| VietnamS$’000 | 30,379 | 26,186 | PDF p. 258 |
| EuropeS$’000 | 21,481 | 5,388 | PDF p. 258 |
| IndiaS$’000 | 74 | 52 | PDF p. 258 |
| Total non-current non-financial assetsS$’000 | 391,023 | 376,646 | PDF p. 258 |
Definitions & sources
Original report: PDF p. 258 ↗
Business segments FY2025
20 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025GroupAdvanced materials | 2025GroupIndustrial equipment | 2025GroupNanofabrication | 2025GroupSydrogen | 2025GroupInter-segment eliminations | 2025GroupTotal | Source |
|---|---|---|---|---|---|---|---|
| Operating segment information | |||||||
| Revenue from external customersS$’000 | 206,924 | 16,961 | 18,160 | 2,522 | - | 244,567 | PDF p. 255 |
| Inter-segment salesS$’000 | - | 7,723 | - | - | (7,723) | - | PDF p. 255 |
| SubtotalS$’000 | 206,924 | 24,684 | 18,160 | 2,522 | (7,723) | 244,567 | PDF p. 255 |
| Cost of salesS$’000 | 133,992 | 8,165 | 9,763 | 4,217 | - | 156,137 | PDF p. 255 |
| Adjusted EBITDAS$’000 | 54,357 | 2,900 | 7,092 | (1,520) | - | 62,829 | PDF p. 255 |
| Other information DepreciationS$’000 | 26,369 | 1,254 | 2,871 | 1,357 | - | 31,851 | PDF p. 255 |
| Amortisation of land use rightsS$’000 | 180 | 29 | 41 | 4 | - | 254 | PDF p. 255 |
| Amortisation of intangible assetsS$’000 | 9,788 | 538 | 332 | 1,219 | - | 11,877 | PDF p. 255 |
| Net impairment loss on trade receivablesS$’000 | 86 | 6 | 14 | 61 | - | 167 | PDF p. 255 |
| Write off/ loss/(Gain) on disposal of property, plant and equipmentS$’000 | 2,361 | 70 | 92 | 354 | - | 2,877 | PDF p. 255 |
| Listing expenses charged to profit or loss- RecurringS$’000 | 22 | 24 | 1 | - | - | 47 | PDF p. 255 |
| Share option expensesS$’000 | 5 | 6 | - | - | - | 11 | PDF p. 255 |
| Award share expenses under RSP 2021S$’000 | 408 | 361 | 20 | 1 | - | 790 | PDF p. 255 |
| Staff costsS$’000 | 30,907 | 6,117 | 2,987 | 1,338 | - | 41,349 | PDF p. 255 |
| Provision for warranties and restoration of property, plant and equipmentS$’000 | - | 182 | - | - | - | 182 | PDF p. 255 |
| Reversal of provision for warranties and restoration costS$’000 | - | (324) | - | - | - | (324) | PDF p. 255 |
| Assets Segment assetsS$’000 | 462,364 | 44,686 | 11,367 | 27,575 | - | 545,992 | PDF p. 255 |
| Segment assets include: Additions to non-current assets: – Property, plant and equipmentS$’000 | 40,359 | 4,306 | 291 | 2,822 | - | 47,778 | PDF p. 255 |
| – Intangible assetsS$’000 | 14,022 | 1,221 | 616 | 3,989 | - | 19,848 | PDF p. 255 |
| Liabilities Segment liabilitiesS$’000 | 52,961 | 8,336 | 1,608 | 12,820 | - | 75,725 | PDF p. 255 |
Definitions & sources
Original report: PDF p. 255 ↗
Four named business units and the original inter-segment elimination column are preserved.
Unallocated assets and liabilities FY2025
10 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025GroupTotal | Source |
|---|---|---|
| Operating segment information | ||
| Cash and bank balancesS$’000 | 84,550 | PDF p. 255 |
| Other financial assetsS$’000 | 1,367 | PDF p. 255 |
| Investment in associateS$’000 | 3,714 | PDF p. 255 |
| Deferred tax assetsS$’000 | 5,099 | PDF p. 255 |
| SubtotalS$’000 | 640,722 | PDF p. 255 |
| Bank loansS$’000 | 92,426 | PDF p. 255 |
| Deferred tax liabilitiesS$’000 | 1,685 | PDF p. 255 |
| Other creditors (non-current)S$’000 | - | PDF p. 255 |
| Provision for taxationS$’000 | 1,076 | PDF p. 255 |
| SubtotalS$’000 | 170,912 | PDF p. 255 |
Definitions & sources
Original report: PDF p. 255 ↗
These amounts appear only in the Total column of the original segment schedule; no business-unit allocation is inferred.
Business segments FY2024
20 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024GroupAdvanced materials | 2024GroupIndustrial equipment | 2024GroupNanofabrication | 2024GroupSydrogen | 2024GroupInter-segment eliminations | 2024GroupTotal | Source |
|---|---|---|---|---|---|---|---|
| Operating segment information | |||||||
| Revenue from external customersS$’000 | 172,140 | 11,290 | 18,042 | 2,797 | - | 204,269 | PDF p. 256 |
| Inter-segment salesS$’000 | - | 7,060 | - | - | (7,060) | - | PDF p. 256 |
| SubtotalS$’000 | 172,140 | 18,350 | 18,042 | 2,797 | (7,060) | 204,269 | PDF p. 256 |
| Cost of salesS$’000 | 111,747 | 2,898 | 9,431 | 4,327 | - | 128,403 | PDF p. 256 |
| Adjusted EBITDAS$’000 | 40,500 | 4,967 | 7,871 | (1,532) | - | 51,806 | PDF p. 256 |
| Other information DepreciationS$’000 | 23,474 | 858 | 4,914 | 765 | - | 30,011 | PDF p. 256 |
| Amortisation of land use rightsS$’000 | 210 | 14 | 33 | 3 | - | 260 | PDF p. 256 |
| Amortisation of intangible assetsS$’000 | 6,786 | 480 | 457 | 1,739 | - | 9,462 | PDF p. 256 |
| Net impairment loss on trade receivablesS$’000 | 201 | 5 | (14) | 33 | - | 225 | PDF p. 256 |
| Write off/ loss/(Gain) on disposal of property, plant and equipmentS$’000 | (71) | 10 | (14) | 6 | - | (69) | PDF p. 256 |
| Listing expenses charged to profit or loss - RecurringS$’000 | 29 | 16 | 1 | - | - | 46 | PDF p. 256 |
| Share option expensesS$’000 | 55 | 30 | 2 | - | - | 87 | PDF p. 256 |
| Award share expenses under RSP 2021S$’000 | 631 | 338 | 26 | - | - | 995 | PDF p. 256 |
| Staff costsS$’000 | 26,697 | 5,072 | 2,813 | 1,400 | - | 35,982 | PDF p. 256 |
| Provision for warranties and restoration of property, plant and equipmentS$’000 | - | 185 | - | - | - | 185 | PDF p. 256 |
| Reversal of provision for warrantiesS$’000 | - | (219) | - | - | - | (219) | PDF p. 256 |
| Assets Segment assetsS$’000 | 425,122 | 45,532 | 13,736 | 31,062 | - | 515,452 | PDF p. 256 |
| Segment assets include: Additions to non-current assets: - Property, plant and equipmentS$’000 | 33,547 | 2,014 | 949 | 794 | - | 37,304 | PDF p. 256 |
| - Intangible assetsS$’000 | 14,989 | 1,292 | 715 | 3,954 | - | 20,950 | PDF p. 256 |
| Liabilities Segment liabilitiesS$’000 | 51,246 | 7,631 | 1,879 | 3,467 | - | 64,223 | PDF p. 256 |
Definitions & sources
Original report: PDF p. 256 ↗
Four named business units and the original inter-segment elimination column are preserved.
Unallocated assets and liabilities FY2024
10 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024GroupTotal | Source |
|---|---|---|
| Operating segment information | ||
| Cash and bank balancesS$’000 | 110,207 | PDF p. 256 |
| Other financial assetsS$’000 | 1,367 | PDF p. 256 |
| Investment in associateS$’000 | 3,789 | PDF p. 256 |
| Deferred tax assetsS$’000 | 4,278 | PDF p. 256 |
| SubtotalS$’000 | 635,093 | PDF p. 256 |
| Bank loansS$’000 | 84,957 | PDF p. 256 |
| Deferred tax liabilitiesS$’000 | 1,526 | PDF p. 256 |
| Other creditors (non-current)S$’000 | 53,100 | PDF p. 256 |
| Provision for taxationS$’000 | 1,337 | PDF p. 256 |
| SubtotalS$’000 | 205,143 | PDF p. 256 |
Definitions & sources
Original report: PDF p. 256 ↗
These amounts appear only in the Total column of the original segment schedule; no business-unit allocation is inferred.
Three-year R&D and engineering highlights
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2023Group | Source |
|---|---|---|---|---|
| Financial highlights | ||||
| R&D & EngineeringSGD million | 17 | 14 | 16 | PDF p. 16 |
| CapitalisationSGD million | 19 | 20 | 16 | PDF p. 16 |
| Total R&D & Eng as % of revenue (%)% | 7.1 | 7.0 | 9.0 | PDF p. 16 |
| R&D and engineering chart totalSGD million | 37 | 35 | 31 | PDF p. 16 |
Definitions & sources
Original report: PDF p. 16 ↗
Original rounded chart values. R&D and engineering expense excludes Quality Assurance expense; the percentage excludes capitalised R&D and engineering expenses. Printed chart totals differ from rounded component sums and are preserved.
FY2025 cash generation chart
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | Source |
|---|---|---|
| Financial highlights | ||
| Beginning cash balanceSGD million | 110 | PDF p. 16 |
| Operating cash flowSGD million | 49 | PDF p. 16 |
| PPESGD million | 46 | PDF p. 16 |
| Acquisitions & IntangiblesSGD million | 21 | PDF p. 16 |
| Financing cash flowSGD million | 6.2 | PDF p. 16 |
| Ending cash balanceSGD million | 85 | PDF p. 16 |
| Effects of exchange rateSGD million | 0 | PDF p. 16 |
Definitions & sources
Original report: PDF p. 16 ↗
Original rounded cash-waterfall amounts retain the chart’s unsigned labels. PPE, acquisitions and intangibles, and financing represent outflows; a printed zero for exchange effects is rounded and does not mean no exchange movement. The cash-flow statement provides signed precise figures.
Where the money comes from
Segment information
By business
Operating segment information 2025 (Group, S$'000) 19 lines
| Item / unit | 2025Advanced materials | 2025Industrial equipment | 2025Nanofabrication | 2025Sydrogen | 2025Inter-segment eliminations | 2025Total | Source |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Revenue from external customersS$'000 | 206,924 | 16,961 | 18,160 | 2,522 | - | 244,567 | PDF p. 255 |
| Inter-segment salesS$'000 | - | 7,723 | - | - | (7,723) | - | PDF p. 255 |
| Results | |||||||
| Cost of salesS$'000 | 133,992 | 8,165 | 9,763 | 4,217 | - | 156,137 | PDF p. 255 |
| Adjusted EBITDAS$'000 | 54,357 | 2,900 | 7,092 | (1,520) | - | 62,829 | PDF p. 255 |
| Other information | |||||||
| DepreciationS$'000 | 26,369 | 1,254 | 2,871 | 1,357 | - | 31,851 | PDF p. 255 |
| Amortisation of land use rightsS$'000 | 180 | 29 | 41 | 4 | - | 254 | PDF p. 255 |
| Amortisation of intangible assetsS$'000 | 9,788 | 538 | 332 | 1,219 | - | 11,877 | PDF p. 255 |
| Net impairment loss on trade receivablesS$'000 | 86 | 6 | 14 | 61 | - | 167 | PDF p. 255 |
| Write off/ loss/(Gain) on disposal of property, plant and equipmentS$'000 | 2,361 | 70 | 92 | 354 | - | 2,877 | PDF p. 255 |
| Listing expenses charged to profit or loss- RecurringS$'000 | 22 | 24 | 1 | - | - | 47 | PDF p. 255 |
| Share option expensesS$'000 | 5 | 6 | - | - | - | 11 | PDF p. 255 |
| Award share expenses under RSP 2021S$'000 | 408 | 361 | 20 | 1 | - | 790 | PDF p. 255 |
| Staff costsS$'000 | 30,907 | 6,117 | 2,987 | 1,338 | - | 41,349 | PDF p. 255 |
| Provision for warranties and restoration of property, plant and equipmentS$'000 | - | 182 | - | - | - | 182 | PDF p. 255 |
| Reversal of provision for warranties and restoration costS$'000 | - | (324) | - | - | - | (324) | PDF p. 255 |
| Assets | |||||||
| Segment assetsS$'000 | 462,364 | 44,686 | 11,367 | 27,575 | - | 545,992 | PDF p. 255 |
| Additions to non-current assets | |||||||
| – Property, plant and equipmentS$'000 | 40,359 | 4,306 | 291 | 2,822 | - | 47,778 | PDF p. 255 |
| – Intangible assetsS$'000 | 14,022 | 1,221 | 616 | 3,989 | - | 19,848 | PDF p. 255 |
| Liabilities | |||||||
| Segment liabilitiesS$'000 | 52,961 | 8,336 | 1,608 | 12,820 | - | 75,725 | PDF p. 255 |
Notes
Total assets 640,722 and total liabilities 170,912 are printed as unlabelled subtotal lines. Reconciling items (cash, other financial assets, etc.) are only shown in the Total column; blank cells are not printed.
Operating segment information 2024 (Group, S$'000) 19 lines
| Item / unit | 2024Advanced materials | 2024Industrial equipment | 2024Nanofabrication | 2024Sydrogen | 2024Inter-segment eliminations | 2024Total | Source |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Revenue from external customersS$'000 | 172,140 | 11,290 | 18,042 | 2,797 | - | 204,269 | PDF p. 256 |
| Inter-segment salesS$'000 | - | 7,060 | - | - | (7,060) | - | PDF p. 256 |
| Results | |||||||
| Cost of salesS$'000 | 111,747 | 2,898 | 9,431 | 4,327 | - | 128,403 | PDF p. 256 |
| Adjusted EBITDAS$'000 | 40,500 | 4,967 | 7,871 | (1,532) | - | 51,806 | PDF p. 256 |
| Other information | |||||||
| DepreciationS$'000 | 23,474 | 858 | 4,914 | 765 | - | 30,011 | PDF p. 256 |
| Amortisation of land use rightsS$'000 | 210 | 14 | 33 | 3 | - | 260 | PDF p. 256 |
| Amortisation of intangible assetsS$'000 | 6,786 | 480 | 457 | 1,739 | - | 9,462 | PDF p. 256 |
| Net impairment loss on trade receivablesS$'000 | 201 | 5 | (14) | 33 | - | 225 | PDF p. 256 |
| Write off/ loss/(Gain) on disposal of property, plant and equipmentS$'000 | (71) | 10 | (14) | 6 | - | (69) | PDF p. 256 |
| Listing expenses charged to profit or loss - RecurringS$'000 | 29 | 16 | 1 | - | - | 46 | PDF p. 256 |
| Share option expensesS$'000 | 55 | 30 | 2 | - | - | 87 | PDF p. 256 |
| Award share expenses under RSP 2021S$'000 | 631 | 338 | 26 | - | - | 995 | PDF p. 256 |
| Staff costsS$'000 | 26,697 | 5,072 | 2,813 | 1,400 | - | 35,982 | PDF p. 256 |
| Provision for warranties and restoration of property, plant and equipmentS$'000 | - | 185 | - | - | - | 185 | PDF p. 256 |
| Reversal of provision for warrantiesS$'000 | - | (219) | - | - | - | (219) | PDF p. 256 |
| Assets | |||||||
| Segment assetsS$'000 | 425,122 | 45,532 | 13,736 | 31,062 | - | 515,452 | PDF p. 256 |
| Additions to non-current assets | |||||||
| - Property, plant and equipmentS$'000 | 33,547 | 2,014 | 949 | 794 | - | 37,304 | PDF p. 256 |
| - Intangible assetsS$'000 | 14,989 | 1,292 | 715 | 3,954 | - | 20,950 | PDF p. 256 |
| Liabilities | |||||||
| Segment liabilitiesS$'000 | 51,246 | 7,631 | 1,879 | 3,467 | - | 64,223 | PDF p. 256 |
Notes
Total assets 635,093 and total liabilities 205,143 are printed as unlabelled subtotal lines. Reconciling items are only shown in the Total column.
Reconciliation of total EBITDA to profit before income tax 11 lines
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Reconciliation | |||
| Adjusted EBITDA(1) for reportable segmentsS$'000 | 62,829 | 51,806 | PDF p. 257 |
| DepreciationS$'000 | (31,851) | (30,011) | PDF p. 257 |
| AmortisationS$'000 | (12,131) | (9,722) | PDF p. 257 |
| (Write off/loss)/Gain on disposal of property, plant and equipmentS$'000 | (2,877) | 69 | PDF p. 257 |
| Other professional feesS$'000 | (682) | (1,072) | PDF p. 257 |
| Award shares expenses under RSP 2021S$'000 | (790) | (995) | PDF p. 257 |
| Finance incomeS$'000 | 1,404 | 3,189 | PDF p. 257 |
| Finance expensesS$'000 | (2,662) | (3,619) | PDF p. 257 |
| Profit before income taxS$'000 | 13,240 | 9,645 | PDF p. 257 |
| Income taxS$'000 | (1,320) | (2,110) | PDF p. 257 |
| Profit after income taxS$'000 | 11,920 | 7,535 | PDF p. 257 |
Notes
(1) Net profit before interest, tax, depreciation and amortisation (EBITDA).
Revenue from external customers by Group entities' place of business 7 lines
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Geographical revenue | |||
| SingaporeS$'000 | 41,190 | 35,483 | PDF p. 257 |
| ChinaS$'000 | 182,559 | 154,504 | PDF p. 257 |
| JapanS$'000 | 7,403 | 9,067 | PDF p. 257 |
| VietnamS$'000 | 2,166 | 177 | PDF p. 257 |
| EuropeS$'000 | 11,132 | 5,038 | PDF p. 257 |
| IndiaS$'000 | 117 | - | PDF p. 257 |
| Total revenueS$'000 | 244,567 | 204,269 | PDF p. 257 |
Notes
Revenue from external customers based on Group’s entities’ place of business.
By geography
Non-current non-financial assets by geographical area 7 lines
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Non-current non-financial assets | |||
| SingaporeS$'000 | 63,762 | 77,786 | PDF p. 258 |
| ChinaS$'000 | 275,161 | 264,826 | PDF p. 258 |
| JapanS$'000 | 166 | 2,408 | PDF p. 258 |
| VietnamS$'000 | 30,379 | 26,186 | PDF p. 258 |
| EuropeS$'000 | 21,481 | 5,388 | PDF p. 258 |
| IndiaS$'000 | 74 | 52 | PDF p. 258 |
| Total non-current non-financial assetsS$'000 | 391,023 | 376,646 | PDF p. 258 |
Notes
Carrying amount of non-current non-financial assets, analysed by the geographical areas in which the assets are located.
Debt
Borrowings
Borrowing notes 2 tables
Bank loans – current and non-current
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Bank loans | |||||
| CurrentS$'000 | 10,650 | 8,229 | 1,872 | 1,872 | PDF p. 229 |
| Non-currentS$'000 | 81,776 | 76,728 | 18,796 | 20,668 | PDF p. 229 |
| TotalS$'000 | 92,426 | 84,957 | 20,668 | 22,540 | PDF p. 229 |
Notes
Security/interest (Note 23): Company loan S$20,668,000 (2024: S$22,540,000) secured by mortgage over 11 Tai Seng Drive property, interest approx 2.02% to 3.52% (2024: 3.88% to 4.65%) per annum based on fixed interest spread and cost of fund.
Continued on p230: Nanofilm Renewable Energy Technology (Shanghai) loan S$51,464,000 (2024: S$55,077,000) secured by mortgage over Shanghai Plant 1 and 2 and corporate guarantee, 2.80% (2024: 2.79%); Nanofilm Vacuum Coating (Shanghai) loans S$2,757,000 and S$7,582,000 (2024: S$6,068,000) secured, 2.25% and 2.34% (2024: 2.60%); S$9,190,000 (2024: Nil) secured by corporate guarantee, 2.24% (2024: Nil); Nanofilm AM Germany GmbH S$765,000 (2024: S$1,272,000) secured by mortgages over machinery, 1.09% (2024: 2.27% to 2.95%). No breach of loan covenants.
Currency risk note: borrowings partly denominated in foreign currencies, primarily USD, JPY and RMB; no split printed.
Lease liabilities – current and non-current
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Lease liabilities | |||||
| CurrentS$'000 | 1,883 | 3,344 | 387 | 1,757 | PDF p. 231 |
| Non-currentS$'000 | 13,788 | 17,375 | 8,005 | 9,241 | PDF p. 231 |
| Lease liabilities totalS$'000 | 15,671 | 20,719 | 8,392 | 10,998 | PDF p. 231 |
Notes
Total row has no printed label; label is a descriptor.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy (Provision 11.6) | The Company does not have a fixed dividend policy. | Company | PDF p. 127 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| FY2025 Dividend Declaration | 0.0087 S$ per share | FY2025 final, proposed, subject to shareholder approval at AGM | PDF p. 127 |
| FY2025 Dividend Declaration | 0.0033 S$ per share | FY2025 interim, paid 5 September 2025 | PDF p. 127 |
| FY2025 Dividend Declaration | S$0.012 | FY2025 total declared (interim + proposed final) | PDF p. 127 |
| One-tier tax exempt final dividend of a total of S$0.0033 per share paid on 20 | S$0.0033 | FY2024 final, paid 20 May 2025 (comparative year) | PDF p. 237 |
| One-tier tax exempt interim dividend of a total of S$0.0033 per share paid on 6 | S$0.0033 | FY2024 interim, paid 6 September 2024 (comparative year) | PDF p. 237 |
Extracted from Nanofilm 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 | Moore Stephens LLP | Group and Company FY2025 | PDF p. 156 |
| Engagement partner | Lao Mei Leng | Group and Company FY2025 | PDF p. 156 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 | Group and Company FY2025 | PDF p. 152 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Acquisition of 35% non-controlling interest in Sydrogen Energy Pte. Ltd. | We focused on this area because the determination of the appropriate accounting treatment at both the Group and Company levels, covering the put option liability, cost of investment, financial liability, and non-controlling interest, requires complex technical considerations and involves significant management judgement. | Group and Company FY2025 | PDF p. 154 |
Extracted from Nanofilm 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 Nanofilm Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
Financial statements use SGD thousands unless a row specifies SGD million, SGD cents, percentages or thousands of shares. Original dashes and negative parentheses are retained.
This annual report discloses two-year statements and selected three-year highlights; five-year original-report backfill is not complete.
Company figures represent the parent company; Group figures include subsidiaries. Subsidiary summaries are before intragroup eliminations.
The business-unit chart reports FY2024 revenue of SGD204.3 million; its rounded components sum to SGD204.2 million. The FY2025 end-market chart reports SGD244.6 million; rounded components sum to SGD244.5 million. Original values retained (PDF p.15).
R&D chart totals FY2025/FY2024/FY2023 are SGD37/35/31 million, while rounded expense and capitalisation components sum to SGD36/34/32 million. Expense excludes Quality Assurance; the percentage excludes capitalised expenses (PDF p.16).
Cash-chart PPE outflow is purchases less disposal proceeds; exchange effects printed as zero are rounded, while the cash-flow statement records SGD(333) thousand. Chart unsigned values are preserved (PDF p.16).
The segment narrative says three reportable segments while listing four named business units; the original four business-unit columns are retained without changing the source figures (PDF pp.254–256).
Segment unallocated asset and liability balances are disclosed only in the Total column; no allocation to individual business units is inferred (PDF pp.255–256).
Sydrogen ownership changed during FY2025. Original annual profit allocated to NCI is retained; it is not recomputed using the year-end percentage alone (PDF pp.212–213).
Cash dividends paid during a year differ from dividends declared for that financial year; original payment dates and per-share amounts are preserved (PDF p.237).
Company bank loan secured on 11 Tai Seng Drive: (a) As at 31 December 2025, a bank loan amounting to S$20,668,000 (2024: S$22,540,000) was outstanding to a local bank. This loan was obtained by the Company for general working capital purposes after the acquisition of the property at 11 Tai Seng Drive, Singapore, which was funded by internal sources of funds on completion. The bank loan was secured by a mortgage over the property. The Company incurred an interest of approximately at 2.02% to 3.52% (2024: 3.88% to 4.65%) per annum based on a fixed interest spread and cost of fund. (PDF p.229).
Nanofilm Renewable Energy Technology Shanghai bank loan: (b) As at 31 December 2025, a wholly owned subsidiary, Nanofilm Renewable Energy Technology (Shanghai) Co., Ltd., had an outstanding bank loan of S$51,464,000 (2024: S$55,077,000) from a local financial institution for working capital purposes. The bank loan is secured by a mortgage over Shanghai Plant 1 and 2 and a corporate guarantee provided by the Company and another wholly owned subsidiary, Nanofilm Vacuum Coating (Shanghai) Co., Ltd. The bank loan bears interest at 2.80% per annum (2024: 2.79%). (PDF p.230).
Nanofilm Vacuum Coating Shanghai two mortgage loans: (c) As at 31 December 2025, a wholly owned subsidiary, Nanofilm Vacuum Coating (Shanghai) Co., Ltd., had two outstanding bank loans of S$2,757,000 and S$7,582,000 (2024: an outstanding bank loan of S$6,068,000) from a local financial institution for working capital purposes. The bank loans are secured by a mortgage over Shanghai Plant 1 and 2 and a corporate guarantee provided by the Company and another wholly owned subsidiary, Nanofilm Renewable Energy Technology (Shanghai) Co., Ltd. The bank loans bear interest at 2.25% and 2.34% per annum respectively (2024: 2.60%). (PDF p.230).
Nanofilm Vacuum Coating Shanghai guaranteed loan: (d) As at 31 December 2025, a wholly owned subsidiary, Nanofilm Vacuum Coating (Shanghai) Co., Ltd., had an outstanding bank loan of S$9,190,000 (2024: Nil) from a local financial institution for working capital purposes. The bank loan is secured by a corporate guarantee provided by Nanofilm Renewable Energy Technology (Shanghai) Co., Ltd. The bank loan bears interest at 2.24% per annum (2024: Nil). (PDF p.230).
Nanofilm AM Germany machinery mortgage loans: (e) As at 31 December 2025, a wholly owned subsidiary, Nanofilm AM Germany GmbH, had outstanding bank loans of S$765,000 (2024: S$1,272,000) from local financial institutions for capital expenditure purposes. The bank loans are secured by mortgages over the machinery of Nanofilm AM Germany GmbH and bear interest at 1.09% per annum (2024: 2.27% to 2.95%). (PDF p.230).
Loan covenant status: As at the end of the financial year, there is no breach of loan covenants. (PDF p.230).
FY2025 proposed final and declared total dividend: The Board is pleased to recommend a final tax-exempt dividend of S$0.0087 per ordinary share for FY2025, subject to shareholder approval at the AGM. Together with the interim dividend of S$0.0033 per share paid on 5 September 2025, the total declared dividend for FY2025 amounts to S$0.012 per ordinary share, rewarding shareholders for their continued loyalty and support. (PDF p.127).
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.