36948752 2025-01-01 2025-12-31 36948752 2025-01-01 2025-12-31 1 36948752 2025-01-01 2025-12-31 1 36948752 2025-01-01 2025-12-31 1 36948752 2025-01-01 2025-12-31 2 36948752 2025-01-01 2025-12-31 3 36948752 2024-01-01 2024-12-31 36948752 2025-12-31 36948752 2024-12-31 36948752 2025-01-01 d:ContributedCapitalMember 36948752 2025-01-01 d:ReserveForDevelopmentExpenditureMember 36948752 2025-01-01 d:RetainedEarningsMember 36948752 2025-01-01 2025-12-31 d:ReserveForDevelopmentExpenditureMember 36948752 2025-01-01 2025-12-31 d:RetainedEarningsMember 36948752 2025-12-31 d:ContributedCapitalMember 36948752 2025-12-31 d:ReserveForDevelopmentExpenditureMember 36948752 2025-12-31 d:RetainedEarningsMember 36948752 2025-01-01 d:CompletedDevelopmentProjectsMember 36948752 2025-12-31 d:CompletedDevelopmentProjectsMember 36948752 2025-01-01 2025-12-31 d:CompletedDevelopmentProjectsMember 36948752 2025-01-01 d:FixturesFittingsToolsAndEquipmentMember 36948752 2025-12-31 d:FixturesFittingsToolsAndEquipmentMember 36948752 2025-01-01 d:LongtermEquityLoanMember 36948752 2025-12-31 d:LongtermEquityLoanMember iso4217:DKK xbrli:pure 5230 Odense M 2025-12-31 CaseWare-FSR false false Yinan Sang Aalborg 36948752 Forskerparken true Årsrapport 36948752 Syd Dynamic ApS Forskerparken 10 1., 2025-01-01 2024-01-01 2024-12-31 Syd Dynamic ApS 10 1. 5230 Odense M DK Danmark Odense Deloitte 33963556 Peter Nørrevang State Authorised public accountant Østre havnepromenade 26, 4. 9000 DK Danmark 2026-06-29 Regnskabsklasse B Erklæring om udvidet gennemgang false false The supervisory board and executive board have today discussed and approved the annual report of Syd Dynamic ApS for the financial year 1 January - 31 December 2025. The annual report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the company's financial position at 31 December 2025 and of the results of the company's operations for the financial year 1 January - 31 December 2025. In our opinion, management's review includes a fair review of the matters dealt with in the management's review. Management recommends that the annual report should be approved by the company in general meeting. Yinan Sang Zhuocheng Gong chairman Michael Rodan Chang Jiannan Zhu To the shareholder of Syd Dynamic ApS Opinion We have performed extended review of the financial statements of Syd Dynamic ApS for the financial year 1 January - 31 December 2025, which comprise a summary of significant accounting policies, income statement, balance sheet, statement of changes in equi­ty and notes. The financial statements are prepared under the Danish Financial Statements Act.Based on the performed work it is our opinion, that the financial statements give a true and fair view of the com­pany's financial position at 31 December 2025 and of the results of the company's operations for the financial year 1 January - 31 December 2025 in accordance with the Danish Financial Statements Act. Basis for Opinion We conducted our extended review in accordance with the Danish Business Authority's standard on au­di­tor's re­port for small enterprises and FSR - danish auditors' standard on extended review of financial statements in accordance with the Danish Financial Statements Act. Our responsibilities under those standards and requirements are further described in the “Auditor's responsibilities for the extended review of the financial statements” section of our report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and IESBA Code. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management is responsible for the preparation of financial statements, that give a true and fair view in accordance with the Danish Financial Statements Act and for such internal control as management determines is necessary to enable the preparation of  financial statements that are free from material misstatement, whether due to fraud or error.In preparing the financial statements, management is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless management either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. Our responsibility is to express a conclusion on the accompanying financial statements. This requires us to perform procedures in order to obtain limited assurance for our conclusion on these financial statements, and in addition perform specifically required supplementary procedures in order to obtain additional assurance for our conclusion.An extended review of financial statements includes procedures primarily consisting of making inquiries of management and others within the entity, as appropriate, applying analytical procedures and the specifically required supplementary procedures, and evaluating the evidence obtained.The procedures performed in an extended review are less than those performed in an audit and accordingly we do not express an audit opinion on these financial statements. Statement on management's reviewManagement is responsible for management's review.Our opinion on the financial statements does not cover management's review, and we do not express any form of assurance conclusion thereon.In connection with our extended review of the financial statements, our responsibility is to read management's review and, in doing so, consider whether management's review is materially inconsistent with the financial statements or our knowledge obtained during the extended review, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether management's review provides the information required under the Danish Financial Statements Act.Based on the work we have performed, we conclude that management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of management's review. Aalborg 2026-06-29 Deloitte Peter Nørrevang State Authorised public accountant mne11706 Business reviewThe company's purpose is to develop and sell sensor technology primarily to the B2B market within automation, robots and automated Guided Vehicles (AGVs). Recognition and measurement uncertaintiesDue to its specific activity as a development company, there is inherent uncertainty in the calculation and measurement of the company's development activities. Financial review The company's income statement for the year ended 31 December 2025 shows a profit of DKK 59.698, and the balance sheet at 31 December 2025 shows negative equity of DKK 4.100.815.The company has been continuing its focus on B2B market, as a result of customer feedback and the company’s internal development competence. The earlier product in consumer electronics, MARA PEN, has had a longer market penetration curve than expected. The strategy changed towards B2B markets has been laid down since 2017.     The product family TransducerM, introduced in 2017, focusing on B2B market, has been continuing its maintenance during 2025, including a series of product sub-model offerings – TransducerM TM100, TM200, TM300 and TM500 series, ranging from low-cost, standard and high-performance versions. The products have been gradually penetrating the mobile robotic and autonomous applications since 2019 and the company has developed a set of key customers. There has been considerable interest in the products offerings for the performances the customer acquires versus the cost.    The company is dependent on additional financing in the form of capital increases or financing for its expansion or acceleration.  However, for maintaining and operating the existing business, including product delivery, maintenance and service, the company operates without additional financing.   The management is in the process ensuring necessary liquidity for the accelerated operation and development of the company according to the strategy approved by the Board of Directors Expected development of the company, including specific prerequisites and uncertaintiesThe company has built its strategy around the market segments, AGV, industrial vehicles and the agricultural segment to introduce the most relevant products. There is established in this connection commercial dialogue with several companies. The company is also in the process of its local production close to its customers to improve efficiency. The management expects that the company's future operations will be positive. The annual report of Syd Dynamic ApS for 2025 has been prepared in accordance with the provisions of the Danish Financial Statements Act ap­plying to en­ter­pri­ses of re­por­ting class B, as well as provisions applying to reporting class C entities.The accounting policies applied are consistent with those of last year.The annual report for 2025 is pre­sen­ted in DKK Income from the sale of goods for resale and finished goods is recognised in the income statement, provided that the transfer of risk, usually on delivery to the buyer, has taken place and that the income can be measured reliably and is expected to be received.Revenue is measured at the fair value of the agreed consideration, excluding VAT and other indirect taxes. Revenue is net of all types of discounts granted. Costs of raw materials and consumables include the raw materials and consumables used in generating the year’s revenue. The item Other operating income includes items of a secondary nature relative to the company’s activities, including gains on the sale of intangible assets and items of property, plant and equipment. Other external expenses include expenses related to distribution, sale, advertising, administration, and bad debts, etc. Staff costs include wages and salaries, including compensated absence and pensions, as well as other social security contributions, etc. made to the entity's employees. Financial income and expenses are recognised in the income statement at the amounts that relate to the financial year. Net financials include interest income and expenses, financial expenses relating to finance leases, realised and unrealised capital/exchange gains and losses on securities, liabilities and foreign currency transactions, amortisation of financial assets and liabilities and surcharges and allowances under the Danish Tax Prepayment Scheme, etc. Tax for the year, which comprises the current tax charge for the year and changes in the deferred tax charge, is recognised in the income statement as regards the portion that relates to the profit/loss for the year and directly in equity as regards the portion that relates to entries directly in equity. Development projects, patents and licencesGains and losses on the disposal of development projects, patents and licences are determined as the difference between the selling price less costs to sell and the carrying amount at the date of disposal. Gains or losses are recognised in the income statement as other operating income or other operating expenses, respectively. Stocks are mea­sured at cost using the FIFO method.  Where the net realisable value is lower than the cost, inventories are recognised at this lower value.The cost of goods for resale, raw materials and consumables comprises the purchase price plus delivery costs.The cost of finished goods and work in progress includes the cost of raw materials, consumables, direct cost of labour and production/production overheads.Production overheads include the indirect cost of materials, wages and salaries as well as maintenance and depreciation of production machinery, buildings and equipment and expenses relating to plant administration and management. Borrowing costs are not recognised in the cost.The net realisable value of stocks is calculated as the expected selling price less direct costs of completion and expenses incurred to effect the sale. The net realisable value is determined taking into account marketability, obsolescence and expected selling price movements. The carrying amount of intangible assets, items of property, plant and equipment and investments in subsidiaries, associates and participating interests is tested annually for impairment, other than what is reflected through normal amortisation and depreciation.Where there is evidence of impairment, an impairment test is performed for each individual asset or group of assets. Write-down is made to the lower of the recoverable amount and the carrying amount.The recoverable amount is the higher of the net present value and the value in use less expected costs to sell. The net present value is determined as the present value of the anticipated net cash flows from the use of the asset or group of assets and the anticipated net cash flows from the disposal of the asset or group of assets after the end of their useful life. Receivables are measured at amortised cost. Cash and cash equivalents comprise cash and deposits at banks. Current tax liabilities and current tax receivables are recognised in the balance sheet as the estimated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and tax paid on account.Deferred tax is measured according to the liability method in respect of temporary differences between the carrying amount of assets and liabilities and their tax base, calculated on the basis of the planned use of the asset and settlement of the liability, respectively. Deferred tax is measured at net realisable value.Deferred tax is measured according to the tax rules and at the tax rates applicable in the respective countries at the balance sheet date when the deferred tax is expected to crystallise as current tax. Deferred tax adjustments resulting from changes in tax rates are recognised in the income statement, with the exception of items taken directly to equity.Deferred tax assets, including the tax base of tax losses allowed for carry forward, are measured at the value to which the asset is expected to be realised, either as a set-off against tax on future income or as a set-off against deferred tax liabilities within the same legal tax entity. Any deferred net tax assets are measured at net realisable value. Financial liabilities are recognised on the raising of the loan at the proceeds received net of transaction costs incurred. On subsequent recognition, the financial liabilities are measured at amortised cost, corresponding to the capitalised value, using the effective interest method. Accordingly, the difference between the net proceeds and the nominal value is recognised in the income statement over the term of the loan.   Amortised cost for short tem liabilities usually correspondes to the nominal value. Deferred income recognised under 'Current liabilities' comprises payments received concerning income in subsequent financial years. 144705 1728 85006 85006 59699 -83278 0 54 1 0 59698 -83224 0 0 59698 -83224 59698 -83224 198913 283919 198913 283919 0 0 0 0 198913 283919 21290 10700 21290 10700 0 3741 0 3741 727591 618489 748881 632930 947794 916849 53000 53000 155153 221457 -4308968 -4434970 -4100815 -4160513 4944066 4944066 4944066 4944066 2731 1125 19304 13000 82508 119171 104543 133296 5048609 5077362 947794 916849 53000 221457 -4434970 0 59698 -66304 66304 53000 155153 -4308968 0 0 3112910 3112910 -2828991 -85006 -2913997 198913 Completed development projects include the products MARA PEN, Transducer M, Transducer M Pro and Transducer G.    The management has great expectations to the projecta and does not have an indication of the need for impairment in relation to the carrying amount. 41041 41041 0 0 41041 -41041 0 4944066 4944066 0 0 Due to the companys specific acticity as a development company there is a natural uncertainty related to the measurement of the of company's development. The carrying amount of the development projects is based on the managements positive expectations to the future.