v3.26.1
Revenue and Segment Information
 12 Months Ended
Dec. 31, 2025
Revenue and Segment Information [Abstract]  
Revenue and segment information

3. Revenue and segment information

 

Revenue

 

The Group’s revenue was generated from production and trading of primarily-processed teas and refined teas in the PRC. Disaggregation of revenue from contracts with customers recognized at a point in time is as follows:

 

   Year ended
December 31,		 
   2023   2024   2025 
   USD’000   USD’000   USD’000 
Sales of primarily-processed white teas            
Premium-grade   3,578    1,783    1,824 
First-grade   5,806    3,260    3,409 
Second-grade   5,088    3,029    2,397 
Third-grade   5,413    3,159    2,284 
Sales of primarily-processed black teas               
Premium-grade   691    449    434 
First-grade   1,176    776    754 
Second-grade   900    690    581 
Third-grade   1,031    669    530 
Sales of refined teas   439    1,199    6 
    24,122    15,014    12,219 

 

Segment information

 

Operating segments are components of public entities that engage in business activities from which they may earn revenues and incur expenses for which separate financial information is available and which is evaluated regularly by the Company’s chief operating decision maker (“CODM”) in deciding how to assess performance and allocate resources. The Company’s CODM assesses performance and allocates resources based on two reporting segments: primarily-processed teas and refined teas.

 

Total revenues represent sales to unaffiliated customers, as reported in the Consolidated Statements of Operations. The Company evaluates the segments’ performance based on direct margins (gross profit) from operations before selling and distribution costs, administrative expenses, finance costs, other income (loss) and income taxes.

Information by operating segment is as follows:

 

   Year ended
December 31,		 
   2023   2024   2025 
   USD’000   USD’000   USD’000 
Revenues:            
Sales of primarily-processed teas   23,683    13,815    12,213 
Sales of refined teas   439    1,199    6 
    24,122    15,014    12,219 
Cost of sales:               
Sales of primarily-processed teas   11,269    10,427    10,900 
Sales of refined teas   69    657    5 
    11,338    11,084    10,905 
Segment results:               
Sales of primarily-processed teas   12,414    3,388    1,313 
Sales of refined teas   370    542    1 
    12,784    3,930    1,314 

 

No geographical information is presented as all of the Group’s business is carried out in the PRC and from which the Group’s revenue from external customers is generated.

 

During the years ended December 31, 2023, 2024 and 2025, none of independent third-party customers accounted for more than 10% of the Group’s total revenue.

 

Measurement of segment assets and liabilities is not provided regularly to the Group’s CODM and accordingly, no segment assets and liabilities information is presented. Management considered the operating expenses cannot be effectively allocated to each segment.