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FY2025
12 months to Dec 31, 2025
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FY2024
12 months to Dec 31, 2024
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FY2023
12 months to Dec 31, 2023
|
FY2022
11 months to Dec 31, 2022
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|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net loss | ||||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Interest earned on investment held in Trust Account | ||||
| Depreciation expenses | ||||
| Amortization of right of use assets | ||||
| Share-based compensation | ||||
| Share-based settlement expenses | ||||
| Allowance for credit losses against other current assets | ||||
| Changes in fair value of short-term investments | ||||
| Reversal of exercise tax payable (Note 6) | ||||
| Changes in operating assets and liabilities: | ||||
| Prepaid expenses | ||||
| Accrued expenses | ||||
| Franchise tax payable | ||||
| Income taxes payable | ||||
| Other current assets | ||||
| Amount due to related parties | ||||
| Other payable and accrued expenses | ||||
| Lease liabilities | ||||
| Net cash used in operating activities | ||||
| Cash flows from investing activities: | ||||
| Purchase of investment held in trust account | ||||
| Investment of cash in Trust Account for extension loans | ||||
| Cash withdrawn from trust to pay taxes | ||||
| Cash withdrawn from Trust Account in connection with redemption | ||||
| Cash acquired in reverse capitalization | ||||
| Redemption of short-term investments | ||||
| Net cash (used in) provided by investing activities | ||||
| Cash flows from financing activities: | ||||
| Subscription fees received from shareholders | ||||
| Payment of offering cost | ||||
| Redemption of Class A Common Stock | ||||
| Return of subscription fees to an investor | ||||
| Borrowings from related parties | ||||
| Proceeds from extension loans | ||||
| Repayment of borrowings to a related party | ||||
| Proceeds from private placement | ||||
| Payment of extension loans | ||||
| Payment of extension loans on behalf of a third party | ||||
| Proceeds of prepayment shortfall under forward purchase contract | ||||
| Payment of extension loans | ||||
| Proceeds of prepayment shortfall under forward purchase contract | ||||
| Net cash provided by financing activities | ||||
| Net Change in Cash | ||||
| Effect of exchange rates on cash | ||||
| Net decrease in cash | ||||
| Cash at beginning of year | ||||
| Cash at end of year | ||||
| Cash paid for income taxes | ||||
| Non-cash investing and financing activities | ||||
| Remeasurement of carrying value to redemption value | ||||
| Additional amount deposited into trust for extensions | ||||
| Excise tax payable attributable to redemption | ||||
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | ||||
| Transfer of advance of subscription fees from shareholders to equity | ||||
| Payable of expenses directly related to the business combination | ||||
| Issuance of ordinary shares to settle the liabilities due to a controlling shareholder | ||||
| Issuance of ordinary shares to settle the liabilities due to a related party | ||||
| Offering costs payable accrued directly related to the business combination | ||||
| Issuance of ordinary shares to settle working capital loans | ||||
| Share based compensation to a non-employee as part of offering cost | ||||
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