SEGMENTED INFORMATION

6 Months Ended

Jun. 30, 2025

SEGMENTED INFORMATION

SEGMENTED INFORMATION

NOTE 13 – SEGMENT INFORMATION

The Company determines it reportable segments based on its internal organization structure and internal management reporting used to assess and allocate resources. This information are regularly reviewed by the Company’s Chief Executive Officer who is identified as the Chief Operating Decision Maker (“CODM”). The Company consists of three operating units, BioNexus Gene Lab Corp., MRNA Scientific Sdn. Bhd. and Chemrex Corporation Sdn. Bhd. which are determined as three reportable segments, as described below. These reportable segments offer different products and services, and are managed separately because they require different technology and marketing strategies. The following describes the operations in each of the Company’s reportable segments:

·	Trading of industrial chemicals	-	Includes trading of industrial chemicals
·	Provision for genomic screening services	-	includes in commercializing proprietary blood-based diagnostic test for early disease detection
·	Investment holding	-	Investment holding

The CODM evaluates the performance of each reportable segment based on operating income and key segment-specific metrics. There are no inter-segment revenue transactions between reportable segments. Except for investment holding activities and the revenue to the overseas customers as disclosed in Note 9, the Company’s revenue and principal operations are substantially confined within Malaysia.

The CODM evaluates segment performance primarily on operating income and reviews the following expense categories by segment: cost of revenue, selling and distribution, and administrative expenses. A reconciliation of total reportable segment amounts to the Company’s consolidated amounts is provided below, with corporate and unallocated items presented as reconciling adjustments.

Going forward, the Company expects the MRNA Scientific segment to benefit from the integration of Fidelion Diagnostics’ technology, expanding our testing portfolio and geographic reach. Chemrex’s Industrial Chemicals segment is expected to decrease in relative contribution over time as CDMO operations scale. The Investment Holding segment will also encompass the Company’s Ethereum treasury activities, which management views as a distinct strategic asset intended to enhance capital efficiency and diversification.

Pursuant to ASU 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures”, the financial information concerning the Company’s reportable segments is shown as below:

Segmented Information

	Provision for genomic screening services			Trading of industrial chemicals			Investment holding			Total
	Three month period ended June 30, 2025
REVENUE	$	3,466		$	2,256,787		$	-		$	2,260,253
COST OF REVENUE		(2,725	)		(1,889,506	)		-			(1,892,231	)
GROSS PROFIT		741			367,281			-			368,022
OTHER INCOME
Dividend income		-			8,626			-			8,626
Interest income		25,092			4,676			-			29,768
Fair value gain on investments in equity securities		-			23,742			-			23,742
Reversal of expected credit losses		-			69,759			-			69,759
Others		3,477			74,089			-			77,566
TOTAL OTHER INCOME		28,569			180,892			-			209,461
OPERATING EXPENSES
Sales and marketing		(28,424	)		(559,541	)		(20,462	)		(608,427	)
Research and development		(12,557	)		-			-			(12,557	)
General and administrative		(149,164	)		(161,591	)		(206,035	)		(516,790	)
Fair value loss on investments in equity securities		-			(51,002	)		-			(51,002	)
TOTAL OPERATING EXPENSES		(190,145	)		(772,134	)		(226,497	)		(1,188,776	)
LOSS FROM OPERATIONS		(160,835	)		(223,961	)		(226,497	)		(611,293	)
FINANCE COSTS		(3,273	)		(1,599	)		(7	)		(4,879	)
LOSS BEFORE TAX		(164,108	)		(225,560	)		(226,504	)		(616,172	)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(164,108	)	$	(225,560	)		(226,504	)	$	(616,172	)

	Provision for genomic screening services			Trading of industrial chemicals			Investment holding			Total
	Three month period ended June 30, 2024
REVENUE	$	5,496		$	1,969,068		$	-		$	1,974,564
COST OF REVENUE		(2,353	)		(1,683,491	)		-			(1,685,844	)
GROSS PROFIT		3,143			285,577			-			288,720
OTHER INCOME
Dividend income		-			11,881			-			11,881
Interest income		37,154			12,585			-			49,739
Fair value gain on investments in equity securities		-			88,532			-			88,532
Gain on disposal of investments in equity securities		-			8,117			-			8,117
Reversal of expected credit losses		-			552,663			-			552,663
Others		210			18,963			-			19,173
TOTAL OTHER INCOME		37,364			692,741			-			730,105
OPERATING EXPENSES
Sales and marketing		(23,011	)		(103,257	)		(10,226	)		(136,494	)
Research and development		(8,198	)		-			-			(8,198	)
General and administrative		(73,154	)		(121,741	)		(363,934	)		(558,829	)
Fair value loss on investments in equity securities		-			(56,136	)		-			(56,136	)
OPERATING EXPENSES		(104,363	)		(281,134	)		(374,160	)		(759,657	)
(LOSS)/PROFIT FROM OPERATIONS		(63,856	)		697,184			(374,160	)		259,168
FINANCE COSTS		(2,646	)		(1,746	)		(88	)		(4,480	)
(LOSS)/PROFIT BEFORE TAX		(66,502	)		695,438			(374,248	)		254,688
Tax expense		-			(55,584	)		-			(55,584	)
NET (LOSS)/PROFIT ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(66,502	)	$	639,854		$	(374,248	)	$	199,104

	Provision for genomic screening services			Trading of industrial chemicals			Investment holding			Total
	Six month period ended June 2025
REVENUE	$	6,534		$	4,390,794		$	-		$	4,397,328
COST OF REVENUE		(4,131	)		(3,681,682	)		-			(3,685,813	)
GROSS PROFIT		2,403			709,112			-			711,515
OTHER INCOME
Dividend income		-			17,560			-			17,560
Interest income		45,094			8,242			-			53,336
Fair value gain on investments in equity securities		-			28,256			-			28,256
Reversal of expected credit losses		-			94,912			-			94,912
Others		7,370			99,447			-			106,817
TOTAL OTHER INCOME		52,464			248,417			-			300,881
OPERATING EXPENSES
Sales and marketing		(56,064	)		(1,068,531	)		(24,527	)		(1,149,122	)
Research and development		(24,696	)		-			-			(24,696	)
General and administrative		(205,170	)		286,724	)		(416,772	)		(908,666	)
Fair value loss on investments in equity securities		-			(119,499	)		-			(119,499	)
Provision for expected credit losses		-			(40,124	)		-			(40,124	)
TOTAL OPERATING EXPENSES		(285,930	)		(1,514,878	)		(441,299	)		(2,242,107	)
LOSS FROM OPERATIONS		(231,063	)		(557,349	)		(441,299	)		(1,229,711	)
FINANCE COSTS		(6,637	)		(3,101	)		(50	)		(9,788	)
LOSS BEFORE TAX		(237,700	)		(560,450	)		(441,349	)		(1,239,499	)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(237,700	)	$	(560,450	)	$	(441,349	)	$	(1,239,499	)

	Provision for genomic screening services			Trading of industrial chemicals			Investment holding			Total
	Six month period ended June 2024
REVENUE	$	8,661		$	4,347,754		$	-		$	4,356,415
COST OF REVENUE		(4,605	)		(3,698,059	)		-			(3,702,664	)
GROSS PROFIT		4,056			649,695			-			653,751
OTHER INCOME
Dividend income		-			20,827			-			20,827
Interest income		60,937			17,785			-			78,722
Fair value gain on investments in equity securities		-			173,317			-			173,317
Gain on disposal of investments in equity securities		-			14,298			-			14,298
Reversal of expected credit losses		-			584,415			-			584,415
Others		15,121			45,252			-			60,373
TOTAL OTHER INCOME		76,058			855,894			-			931,952
OPERATING EXPENSES
Sales and marketing		(54,116	)		(223,699	)		(12,550	)		(290,365	)
Research and development		(19,673	)		-			-			(19,673	)
General and administrative		(111,429	)		(252,162	)		(511,032	)		(874,623	)
Fair value loss on investments in equity securities		-			(100,433	)		-			(100,433	)
Provision for expected credit losses		-			(120,469	)		-			(120,469	)
OPERATING EXPENSES		(185,218	)		(696,763	)		(523,582	)		(1,405,563	)
(LOSS)/PROFIT FROM OPERATIONS		(105,104	)		808,826			(523,582	)		180,140
FINANCE COSTS		(4,596	)		(4,433	)		(112	)		(9,141	)
(LOSS)/PROFIT BEFORE TAX		(109,700	)		804,393			(523,694	)		170,999
Tax expense		-			(75,652	)		-			(75,652	)
NET (LOSS)/PROFIT ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(109,700	)	$	728,741		$	(523,694	)	$	95,347

	Provision for genomic screening services		Trading of industrial chemicals		Investment holding		Total
	As of June 30, 2025
Segment assets	$	2,502,665	$	6,320,015	$	598,525	$	9,421,205
Included in the measure of segment assets are:
Addition to non-current assets other than financial instruments and deferred tax assets		-		30,511		-		30,511

	Provision for genomic screening services		Trading of industrial chemicals		Investment holding		Total
	As of December 31, 2024
Segment assets	$	2,652,754	$	6,788,302	$	992,792	$	10,433,848
Included in the measure of segment assets are:
Addition to non-current assets other than financial instruments and deferred tax assets		150,881		221,844		-		372,725

The Company had no inter-segment sales for the periods presented.