v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net profit $ 681 $ 2,088 $ 11,501
Adjustments for:      
Income tax (benefit) expense 182 (85) (118)
Depreciation 1,191 1,108 1,111
Gain on valuation of warrants (1,673)
Operating profit before working capital changes 381 3,111 12,494
Changes in assets and liabilities, net of effects of acquisitions:      
Inventories (319) 91 (106)
Trade receivables (50) 233 (95)
Prepayments and other current assets (679) 8 (5)
Trade payables (16) 28
Accruals and other payables 274 (159) 425
Operating lease liabilities (17) (14) (16)
Income tax payable (157) (148) (146)
Cash generated from (used in) operating activities (583) 3,150 12,551
Investing activities      
Payments for and deposits paid for non-current assets (2,397) (258) (1,763)
Cash used in investing activities (2,397) (258) (1,763)
Financing activities      
Proceeds from bank borrowings 139 141
Repayments of bank borrowings (139)
Issue of shares upon listing 8,050
Share issuance expenses (1,166)
Proceeds from Private Placement 6,926
Private Placement expenses (643)
Amounts due to related parties 220 334 609
Cash generated from financing activities 6,642 7,079 750
Increase in cash and cash equivalents 3,662 9,971 11,538
Cash and cash equivalents at the beginning of the year 43,015 34,166 23,174
Effect of exchange rate changes 1,735 (1,122) (546)
Cash and cash equivalents at the end of the year 48,412 43,015 34,166
Supplemental disclosure of cash flows information      
Cash paid during the year for income tax 157 148 146
Cash paid during the year for interest $ 3 $ 137 $ 136