v3.26.1
Consolidated Statements of Changes in Equity - USD ($)
$ in Thousands
Share capital
 [3]
Receivables from shareholders
Share premium
Accumulated other comprehensive Income
Merger reserve
Capital reserve
Statutory reserve
Retained profits
Total
Beginning balance at Dec. 31, 2022 $ 10 [1],[2] $ (10) [1],[2] $ 1,667 $ (2,631) $ 1 $ 2,291 $ 247 $ 51,118 $ 52,693
Issuance of new shares 6 (3,200) [1] 3,194
Profit and total comprehensive income for the year (1,152) 11,501 10,349
Ending balance at Dec. 31, 2023 16 (3,210) 4,861 (3,783) 1 2,291 247 62,619 63,042
Issuance of new shares 2 6,884 6,886
Profit and total comprehensive income for the year (1,912) 2,088 176
Ending balance at Dec. 31, 2024 18 (3,210) 11,745 (5,695) 1 2,291 247 64,707 70,104
Issuance of Founder Preferred Shares 2 2
Issuance of ordinary shares from Private Placement 12 709 721
Issuance of ordinary shares upon exercise of 2025 Warrants 37 3,851 3,888
Profit and total comprehensive income for the year 2,966 681 3,647
Ending balance at Dec. 31, 2025 $ 69 $ (3,210) $ 16,305 $ (2,729) $ 1 $ 2,291 $ 247 $ 65,388 $ 78,362
[1] Giving retroactive effect to the issuance of shares at nominal consideration effected on January 10, 2023 (Note 20).
[2] Giving retroactive effect to the subdivision of shares effected on September 27, 2023 (Note 20).
[3] On December 30, 2025, the Company implemented a one-for-twenty reverse stock split of the Company’s authorized, issued and outstanding ordinary shares, including Founder Preferred Shares. All references to number of shares, and to per share information in the consolidated financial statements have been retroactively adjusted (Note 20).