17 ANNUAL REPORT 2025 Overview of Operations Sasbadi Holdings Berhad ("Sasbadi Holdings", "Sasbadi", or "the Company") is an investment holding company while the Group (i.e. Sasbadi Holdings and its subsidiaries) is an education solutions provider. Further details on the Group's subsidiaries are disclosed in Note 8 to the Financial Statements section in this Annual Report. The Group's history began with the incorporation of Sasbadi Sdn Bhd ("SSB") in 1985, which commenced its operations as a publisher of printed educational materials within the same year. In order to meet the teaching and learning needs of the 21st century, the Group evolved from being mainly an educational print publisher to a provider of diverse education solutions which include digital technology that enables effective and efficient teaching and learning, applied learning tools that facilitate Science, Technology, Engineering, and Mathematics ("STEM") education, education services, English language learning cum assessment solutions and a direct selling business. On 23 July 2014, the Company was successfully listed on the Main Market of Bursa Malaysia Securities Berhad. Management Discussion and Analysis Revenue (RM million) Revenue (RM million) Gross Profit (RM million) Profit Before Tax (RM million) Gross Profit Margin FYE 2023 FYE 2024 FYE 2025 29.065 45.224 32.28% 38.63% 36.560 38.03% 2.979 FYE 2023 FYE 2024 FYE 2025 13.150 14.807 Cash And Cash Equivalents (RM million) FYE 2023 FYE 2024 FYE 2025 Profit After Tax And Non-controlling Interest (RM million) Total Assets (RM million) FYE 2023 FYE 2024 11.050 FYE 2025 2.207 10.168 187.340 FYE 2023 FYE 2024 FYE 2025 193.019 216.314 11.640 27.672 10.980 13.68% 3.30% 12.65% 10.58% 2.45% 9.44% FYE 2024 FYE 2023 FYE 2025 117.062 90.054 96.142 Profit Before Tax Margin Profit After Tax And Noncontrolling Interest Margin The Group's premises include our Head Office in Kota Damansara, Petaling Jaya, Selangor; an office in Sri Petaling, Kuala Lumpur where United Publishing House (M) Sdn Bhd ("UPH") and its subsidiaries ("UPH Group") and Sanjung Unggul Sdn Bhd ("SUSB") and its subsidiaries ("SUSB Group") operate; an office in Cova Square, Kota Damansara, Petaling Jaya, Selangor where MindTech Education Sdn Bhd ("MindTech Education") operates and an office in Rawang, Selangor where Edu Paper And Stationery Sdn Bhd operates. The Group's operations are divided into the following segments: i. Print publishing, which is further divided into the following: a. Academic print publishing focusing on both national and national-type (Chinese) schools and also early childhood education; and b. Non-academic print publishing which includes comic books, novels, dictionaries and other general titles. ii. Digital education solutions and services, and network marketing; iii. Applied learning products ("ALP") and STEM education; and iv. Paper-based stationery.
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