YX Precious Metals Bhd Delivers Strong Q1 2026 Results: Revenue and Profit Surge Amid Industry Challenges

Key Highlights from the Interim Financial Report for Q1 2026

• Revenue Growth: The Group posted an impressive revenue of RM81.40 million for Q1 2026, a surge of 29.18% or RM18.39 million compared to RM63.01 million in Q1 2025. This growth was mainly driven by higher average selling prices for gold jewellery, despite a lower sales volume.
• Profit Before Tax: Profit before tax soared to RM8.50 million, representing an increase of RM5.01 million from the previous year’s corresponding quarter. This was attributed to the higher revenue recorded.
• Net Profit: The Group’s profit after tax stood at RM5.91 million, more than doubling the RM2.63 million recorded in Q1 2025.
• Segment Performance:
  • Wholesale Segment: Contributed RM75.47 million to revenue and RM7.37 million to profit before tax.
  • Design and Manufacture Segment: Generated RM5.93 million in revenue and RM1.12 million in profit before tax.
• Operating Margin: Gross profit grew to RM13.45 million from RM6.15 million a year ago, with net profit margin improving as well.
• Earnings Per Share (EPS): Basic and diluted EPS for the quarter was 1.59 sen, compared to 0.71 sen in Q1 2025, reflecting significant earnings growth.
• Cash Flow & Balance Sheet:
  • Net cash used in operating activities was RM6.16 million, primarily due to increase in inventories and trade receivables.
  • Cash and cash equivalents at period end stood at RM7.35 million.
  • Total assets rose to RM177.78 million, with total equity at RM128.40 million.
  • Borrowings increased to RM35.09 million from RM27.73 million at year end 2025, reflecting increased working capital requirements.
• Taxation: The effective tax rate was 30.47%, higher than the statutory rate of 24%. This was due to certain non-deductible expenses.

Other Significant Developments and Investor-Sensitive Information

• Capital Commitment: The Group has committed RM10.59 million for the purchase and upgrade of property, plant, and equipment, indicating plans for further capacity expansion.
• IPO Proceeds Utilisation: All proceeds from the Company’s IPO have been fully utilised, with reallocation towards operational facilities, raw materials, and working capital. No balance remains unutilised as of 31 March 2026.
• Corporate Structure: The Company incorporated a new wholly-owned subsidiary, YX Properties Sdn. Bhd. in January 2026, intended for property investment holding and related services. As of the report date, the subsidiary remains inactive.
• No Dividend Declared: No interim dividend has been declared or recommended for Q1 2026.
• No Material Litigation or Corporate Proposals: The Group is not involved in any material litigation nor has it announced any new corporate proposals.
• Derivatives: The Group continues to use gold loan contracts to hedge against gold price fluctuations, reporting a fair value gain of RM117,000 for the quarter.
• Related Party Transactions: The Group reported related party transactions in the ordinary course of business, including sales, purchases, and rental of premises. There are no unusual or potentially contentious related party transactions noted.

Outlook and Management Commentary

The Group remains vigilant amid ongoing geo-political risks, fluctuating global gold prices, and uncertain local jewellery demand. Management expects business conditions for the rest of 2026 to remain challenging, but expresses confidence in delivering a satisfactory financial performance for the year. No profit forecast or guarantee has been issued.

Potential Share Price Catalysts & Risks

• Positive Catalysts:
  • Strong earnings growth and margin improvement may boost investor confidence.
  • Significant capital commitments and expansion plans signal future growth potential.
  • Full utilisation of IPO proceeds demonstrates disciplined capital management.
• Risks:
  • Higher effective tax rate may impact net earnings.
  • Rising borrowings to fund working capital could affect leverage ratios.
  • Continued volatility in gold prices and foreign exchange rates may impact profitability.

Important Note for Shareholders

There are no announcements of dividends, share buybacks, or new corporate proposals during the quarter. All IPO proceeds have been fully utilised. The incorporation of YX Properties Sdn. Bhd. is not expected to have an immediate impact on the Group’s earnings as the entity remains inactive.

Disclaimer

This article is for informational purposes only and does not constitute an offer, solicitation, or recommendation to buy or sell any securities. Investors are advised to refer to the full financial report and seek independent advice where necessary.

YX Precious Metals Bhd Catat Keputusan Kewangan Suku Pertama 2026 yang Kukuh: Lonjakan Hasil & Untung Bersih

Fakta Utama Laporan Kewangan Interim Suku Pertama 2026

• Peningkatan Hasil: Kumpulan mencatatkan hasil RM81.40 juta untuk S1 2026, meningkat 29.18% (RM18.39 juta) berbanding RM63.01 juta pada S1 2025. Pertumbuhan ini didorong terutamanya oleh kenaikan purata harga jualan barang kemas emas walaupun jumlah jualan menurun.
• Untung Sebelum Cukai: Untung sebelum cukai melonjak kepada RM8.50 juta, naik RM5.01 juta berbanding suku tahun sebelumnya, hasil daripada pertumbuhan hasil jualan.
• Untung Bersih: Untung selepas cukai ialah RM5.91 juta, lebih dua kali ganda berbanding RM2.63 juta pada S1 2025.
• Pencapaian Segmen:
  • Segmen Borong: Menyumbang RM75.47 juta kepada hasil dan RM7.37 juta kepada untung sebelum cukai.
  • Segmen Reka Bentuk & Pembuatan: Menjana RM5.93 juta hasil dan RM1.12 juta untung sebelum cukai.
• Margin Operasi: Untung kasar meningkat kepada RM13.45 juta dari RM6.15 juta tahun lepas. Margin untung bersih juga bertambah baik.
• Perolehan Sesaham (EPS): EPS asas dan dilut RM1.59 sen, berbanding RM0.71 sen pada S1 2025.
• Aliran Tunai & Kedudukan Kewangan:
  • Aliran tunai operasi negatif RM6.16 juta, terutamanya akibat kenaikan inventori dan penghutang dagangan.
  • Tunai & setara tunai pada akhir tempoh: RM7.35 juta.
  • Aset keseluruhan: RM177.78 juta. Ekuiti keseluruhan: RM128.40 juta.
  • Peningkatan pinjaman kepada RM35.09 juta (akhir 2025: RM27.73 juta) untuk keperluan modal kerja.
• Cukai: Kadar cukai efektif 30.47%, lebih tinggi dari kadar statutori 24% kerana perbelanjaan yang tidak layak ditolak cukai.

Perkembangan Penting & Maklumat Sensitif Pelabur

• Komitmen Modal: Kumpulan komited RM10.59 juta untuk pembelian dan naik taraf aset tetap, menandakan rancangan pengembangan kapasiti.
• Penggunaan Hasil IPO: Semua hasil IPO telah digunakan sepenuhnya, termasuk untuk fasiliti operasi, bahan mentah, dan modal kerja.
• Struktur Korporat: Penubuhan anak syarikat baharu, YX Properties Sdn. Bhd., untuk pelaburan hartanah. Syarikat ini masih belum aktif setakat tarikh laporan.
• Tiada Dividen Diumumkan: Tiada dividen interim diumumkan atau dicadangkan untuk S1 2026.
• Tiada Litigasi atau Cadangan Korporat: Kumpulan tidak terlibat dalam litigasi material atau cadangan korporat baharu.
• Derivatif: Kumpulan terus menggunakan kontrak pinjaman emas untuk lindung nilai harga emas, dengan keuntungan nilai saksama RM117,000 untuk suku ini.
• Urus Niaga Pihak Berkaitan: Urus niaga biasa dengan pihak berkaitan, tiada isu luar biasa atau berpotensi menjejaskan pemegang saham.

Unjuran & Ulasan Pengurusan

Kumpulan terus berwaspada di tengah-tengah risiko geo-politik, turun naik harga emas dan permintaan barang kemas tempatan. Pengurusan yakin prestasi kewangan tahun 2026 akan memuaskan walaupun cabaran berterusan.

Pemangkin & Risiko Harga Saham

• Pemangkin Positif:
  • Pertumbuhan untung dan margin yang kukuh boleh meningkatkan keyakinan pelabur.
  • Komitmen modal dan rancangan pengembangan menjanjikan potensi pertumbuhan masa depan.
  • Disiplin dalam penggunaan hasil IPO.
• Risiko:
  • Kadar cukai efektif lebih tinggi boleh menjejaskan untung bersih.
  • Peningkatan pinjaman untuk modal kerja boleh menjejaskan nisbah keberhutangan.
  • Ketidaktentuan harga emas dan kadar tukaran boleh menjejaskan keuntungan.

Peringatan Penting Kepada Pemegang Saham

Tiada pengumuman dividen, pembelian balik saham atau cadangan korporat baharu. Semua hasil IPO telah digunakan sepenuhnya. Penubuhan YX Properties Sdn. Bhd. tidak dijangka memberi kesan segera kepada pendapatan Kumpulan kerana syarikat tersebut masih belum aktif.

Penafian

Artikel ini adalah untuk tujuan maklumat sahaja dan bukan cadangan untuk membeli atau menjual mana-mana sekuriti. Pelabur dinasihatkan merujuk kepada laporan kewangan penuh dan mendapatkan nasihat bebas jika perlu.

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