Note 15 - Related party balances and transactions The following is a list of related parties which the Company has balances and transactions with: | | | Riches Credit Insurance Brokerage Limited | | Principally owned (67.5%) by the Company’s former director, Rui Wu (resigned on December 19, 2025) | Oriental Pearl (Shenzhen) Entry-Exit Service Co., Ltd. | | Principally owned (75.0%) by the by the Company’s former director, Rui Wu (resigned on December 19, 2025) | Ms Kwok Kai Kai Clara | | The beneficiary owner of Prime Ocean Holdings Limited (owns 25.8% and 9.0% of our ordinary shares as of December 31, 2025 and April 27, 2026). |
a. | Trade receivables from related party |
As of December 31, 2025 and 2024, the balance of trade receivables from related party was as follows: | | | | | | | | | 2025 | | 2024 | Riches Credit Insurance Brokerage Limited | | $ | 231 | | $ | 231 |
The balances represented the trade receivables from related party for the insurance referral service rendered by the Company. For details, please refer to “f. Related Party Transactions” below. b. | Amount due from the related party |
As of December 31, 2025 and 2024, the balance of other receivables from related party was as follows: | | | | | | | | | 2025 | | 2024 | Oriental Pearl (Shenzhen) Entry-Exit Service Co., Ltd. | | $ | 99 | | $ | — |
c. | Accounts payable to related party |
As of December 31, 2025 and 2024, no balances of accounts payable to related party. d. | Amount due to a shareholder |
On December 8, 2023 and April 9, 2024, Ms Kwok Kai Kai Clara (the beneficiary owner of Prime Ocean Holdings Limited), a shareholder of the Company loaned $1.92 million and $0.38 million to Giant Credit Limited. The loan is unsecured, non-interest bearing and repayable on demand. As of December 31, 2025 and 2024, the outstanding amount due to Ms Kwok Kai Kai Clara was nil and $1.54 million. e. | Amount due from/to the director, the former director and the former shareholder |
The balance of amount due from/to the director, the former director and the former shareholder were unsecured, interest-free and repayable on demand. f. | Related party transactions |
The following are the related party transactions for the years ended December 31, 2025 and 2024. | | | | | | | | | 2025 | | 2024 | Revenues - related party | | | | | | | Riches Credit Insurance Brokerage Limited (1) | | $ | 6,883 | | $ | 3,054 |
(1) | For the year ended December 31, 2025 and 2024, the Company has provided insurance referral services to Riches Credit Insurance Brokerage Limited, and has charged service fee on the basis of that. |
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