BITSTRAT HLDGS Issues Profit Warning, Anticipates Annual Loss Attributable to Shareholders

Stock News03-09

BITSTRAT HLDGS (06113) announced that the Group expects to record a loss attributable to the company's owners of approximately 2.7 million Malaysian Ringgit for the financial year ending December 31, 2025. This compares to a profit of approximately 13.3 million Malaysian Ringgit in the 2024 financial year. The shift from profit to loss is primarily attributed to the recognition of an impairment loss on Bitcoin of approximately 4.9 million Malaysian Ringgit for the year, whereas no such loss was recorded in 2024. Additionally, the Group's other operating expenses increased to approximately 22.4 million Malaysian Ringgit, up from about 13.3 million Malaysian Ringgit in the previous year. This increase was mainly due to higher costs associated with analytical reviews conducted to enhance the performance of the Group's telemarketing services and its human resource allocation. The Board of Directors emphasizes that the aforementioned impairment loss is a non-cash accounting adjustment. This adjustment does not constitute a cash outflow nor does it reflect the Group's fundamental operational performance; it arises solely from the application and adherence to relevant accounting standards.

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