| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | - | 22.98 | -100 | ||
| Gross Profit (Loss) | - | -2.95 | -100 | ||
| Operational Profit (Loss) | -21.64 | -15.19 | 42.52 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -24.93 | -19.57 | 27.38 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -24.92 | -19.5 | 27.78 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 100.02 | 124.94 | -19.94 | ||
| Profit (Loss) per Share | -0.13 | -0.1 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | 94.95 | -48.8 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The decline in revenues during the current year, compared to the previous year, is primarily attributable to the cessation of the Company’s core operations and activities effective from the fourth quarter of 2024, following a strategic shift by the management at that time toward investment-focused activities. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The increase in net losses for the current year, compared to the previous year, despite a reduction in general and administrative expenses, is primarily attributable to unrealized losses on the Company’s investment portfolio. This was further impacted by the recognition of an impairment provision on Murabaha sukuk following default on scheduled periodic payments and the inability to recover the principal upon maturity. In addition, the Company recognized expected credit loss provisions on receivables due from customers and suppliers that have been outstanding for more than 365 days, for which management has been unable to obtain sufficient evidence of recoverability. |
| Statement of the type of external auditor's report | Notice |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | The external auditor’s report on the annual financial statements is unqualified and does not contain any reservations. However, it includes an emphasis of matter drawing attention to a material uncertainty that may cast significant doubt on the Group’s ability to continue as a going concern. Management has prepared a comprehensive going concern assessment, incorporating assumptions related to improving liquidity, reactivating operating activities, and restructuring the investment portfolio. Based on this assessment, management has concluded that the application of the going concern basis in the preparation of the consolidated financial statements remains appropriate. The auditor’s opinion has not been modified in respect of this matter. |
| Reclassification of Comparison Items | Comparative figures in the financial statements have been reclassified |
| Additional Information | The Company announces that its accumulated losses have reached 48.80% of its share capital. As at 31 December 2025, accumulated losses amounted to SAR 94,947,911, representing 48.80% of the Company’s capital of SAR 194,400,000, based on the audited financial statements for the year ended 31 December 2025. The accumulated losses for the current and prior periods are primarily attributable to losses incurred on certain commercial transactions, elevated general and administrative expenses—particularly IT licensing and consultancy costs—alongside the recognition of provisions arising from defaults in the collection of receivables from customers and suppliers. In addition, the Company recorded losses related to non-recovery of investments in Murabaha sukuk, as well as realized and unrealized losses within its investment portfolio. The Company confirms its commitment to comply with the applicable procedures and instructions issued by the Capital Market Authority in relation to listed companies whose accumulated losses reach 35% or more of their share capital. |
