v3.26.1
Income taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income taxes  
Schedule of components of income tax benefit

Year ended December 31, 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

Income tax expenses

$

(72)

$

(288)

$

(110)

Deferred income tax benefit

1,574

261

250

$

1,502

$

(27)

$

140

Schedule of company's effective tax rate

  ​ ​ ​

Year ended December 31, 2025

 

Amount

  ​ ​ ​

Percentage 

 

Statutory income tax rate

$

(6,176)

(21.0)

%

Tax effect of permanent difference

 

1,764

6.0

Foreign tax effect in Hong Kong and other jurisdiction

 

  ​

  ​

Hong Kong

 

  ​

  ​

Statutory income tax rate difference between Hong Kong and the U.S.

 

875

3.0

Changes in valuation allowance

 

(31)

(0.2)

Other jurisdictions

 

  ​

  ​

Statutory income tax rate difference between other jurisdictions and the U.S.

 

68

0.2

Changes in valuation allowance

 

12

0.1

Tax effect of tax exempt in Cayman and BVI

 

1,986

6.8

Effective income taxes

$

(1,502)

(5.1)

%

Year ended December 31, 

 

  ​ ​ ​

2024

  ​ ​ ​

2023

 

U.S. Statutory rates

21.0

%

21.0

%

Foreign income not recognized in the U.S.

(21.0)

(21.0)

China income taxes (including Hong Kong SAR)

 

5.1

 

7.7

Australia income taxes

0.1

0.2

Impact of tax rate in other jurisdictions

 

(15.8)

 

(2.1)

Tax effect of non-deductible expenses

 

11.1

 

1.6

Valuation allowance

 

(0.7)

 

Under provision in respect of prior years

 

 

0.1

Effective income taxes

 

0.2

%

7.5

%

Schedule of components of deferred income tax assets and liabilities

  ​ ​ ​

December 31, 2025

  ​ ​ ​

December 31, 2024

Deferred income tax assets:

 

  ​

 

  ​

Net operating loss carry-forward

$

589

$

681

Less: Valuation allowance

 

(589)

 

(681)

$

$

Deferred tax liabilities

 

Intangible assets

$

199

$

223

Property, plant and equipment

3,230

4,780

Interest income

12

12

$

3,441

$

5,015