|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
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|---|---|---|
| Cash flows from operating activities: | ||
| Net income (loss) | ||
| Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: | ||
| Depreciation | ||
| Amortization of operating lease right-of-use asset | ||
| Allowance (recovery) of expected credit losses | ||
| Unrealized losses on digital assets, net | ||
| Unrealized gains on investment in equity securities, net | ||
| Deferred tax expenses (benefits) | ||
| Changes in operating assets and liabilities: | ||
| Accounts receivable | ||
| Inventories | ||
| Prepayments and other current assets | ||
| Prepaid expenses | ||
| Deposits and other current assets | ||
| Operating lease assets | ||
| Accounts payable | ||
| Contract liabilities | ||
| Accrued expenses and other current liabilities | ||
| Income tax payables | ||
| Net cash (used in) provided by operating activities | ||
| Cash flows from investing activities: | ||
| Purchase of property and equipment | ||
| Purchase of digital assets | ||
| Advances of loans receivable | ||
| Investment in equity securities | ||
| Net cash used in investing activities | ||
| Cash flows from financing activities: | ||
| Proceeds from issuance of ordinary shares | ||
| Payments of offering costs related to Initial Public Offering (“IPO”) | ||
| Proceeds from bank borrowings | ||
| Repayments of bank borrowings | ||
| Proceeds from issuance of convertible debts | ||
| Advances from a related party | ||
| Repayments from related parties | ||
| Net cash provided by (used in) financing activities | ||
| Effect of exchange rate changes on cash and restricted cash | ||
| Net (decrease) increase in cash and restricted cash | ||
| Cash and restricted cash, beginning of the year | ||
| Cash and restricted cash, end of the year | ||
| Supplemental disclosures of cash flow information: | ||
| Income tax paid (refund) | ||
| Interest paid | ||
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Deferred IPO cost charged to additional paid-in capital | ||
| Settlement of the sale proceeds of life insurance policies with amount due to a related party | ||
| Settlement of subscription receivable with amount due to a related party | ||
| Reconciliation of cash and restricted cash to the consolidated balance sheets | ||
| Cash | ||
| Restricted cash |
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