v3.26.1
Consolidated Statement of Financial Position - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Non-current assets    
Property, plant and equipment, net $ 449,589 $ 3,404,826
Right-of-use assets, net 85,134 549,688
Intangible assets, net 15,918,759
Total non-current assets 534,723 19,873,273
Current assets    
Inventories 2,484,290 6,427,227
Prepayments 5,168,362 6,292,489
Trade and other receivables, net 4,256,030 4,166,506
Prepaid income tax 74,972 492,623
Restricted bank deposits 253,188 592,652
Cash and bank balances 966,807 2,963,301
Asset classified as held for sale 640,000
Total current assets 13,843,649 20,934,798
Total assets 14,378,372 40,808,071
Current liabilities    
Trade and other payables 3,955,210 3,416,269
Contract liabilities 258,096 2,774,460
Bank borrowings 5,622,926 10,313,887
Other borrowings [1] 356,431 1,130,141
Amounts due to an ultimate beneficial shareholder 310,696 1,142,024
Lease liabilities 40,057 121,335
Income tax payable 10,385
Total current liabilities 10,553,801 18,898,116
Net current assets 3,289,848 2,036,682
Non-current liabilities    
Bank borrowings 39,103
Amounts due to an ultimate beneficial shareholder 12,300,650
Lease liabilities 53,720 462,110
Total non-current liabilities 53,720 12,801,863
Total liabilities 10,607,521 31,699,979
Capital and reserves    
Share capital 132,425 132,425
Capital reserves 30,052,790 30,052,790
Accumulated comprehensive losses (26,414,364) (21,077,123)
Total equity 3,770,851 9,108,092
Total liabilities and equity $ 14,378,372 $ 40,808,071
[1] Included in other borrowings, an aggregate loan balance from related parties of nil (2024: USD425,255) was unsecured, interest-free or interest bearing at nil (2024: 8% p.a.). A principal amount of USD356,431 (2024: USD704,886) was unsecured, interest bearing at 3.6% p.a. (2024: interest free or interest bearing at 6% to 7.2% p.a). All these balances were repayable within one year after the end of the reporting period.