KUALA LUMPUR: ACE-Market bound YX Precious Metals Bhd (YXPM) reported a net profit of RM3.04mil in the first quarter ended March 31 (1Q22).
The wholesaler and manufacturer specialising in gold jewellery’s revenue in 1Q22 stood at RM60.73mil, of which 92.39% was contributed by the wholesale segment with the sales of 216,729g of gold jewellery, and the remaining 7.61% came from the design and manufacture segment.
“The commendable results in Q122 marks a strong start for the year and rest assured we will not rest on our laurels and will build on our growth momentum to reach greater heights.
This initial public offering (IPO) exercise will allow us to leverage on the increased demand for gold jewellery by expanding our product portfolio to include a new range of hollow gold jewellery to the market,” managing director Ng Sheau Chyn said in a statement.
“Moving forward, we are optimistic of the company’s outlook as the overall economic condition is expected to recover amidst the nation transitioning into the endemic phase,” she added.
YXPM is slated to be listed on the ACE Market of Bursa Malaysia on June 23, 2022.
Based on the IPO price of 28 sen and 372.15 mil of enlarged issued share capital upon listing, the market capitalisation of YXPM would be RM104.20mil.