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Income Tax Expense (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Expense [Abstract]

Schedule of Rates of Tax Applicable in Countries

Overseas tax is calculated at rates of tax applicable in countries in which the Group is assessable for tax:

		For the year ended December 31,
		2025				2024				2023
		US$				US$				US$
Hong Kong profits tax:
- Charge for the year			706				771				4,261
- Overprovision in prior year			—				—				(800	)
The People’s Republic of China withholding tax:
- Charge for the year			862				868				993
Deferred tax			—				—				(140	)
			1,568				1,639				4,314

Schedule of Reconciliation of Income Tax Expense and Profit Before Taxation

An income tax expense can be reconciled to profit before taxation as follows:

		For the year ended December 31,
		2025				2024				2023
		US$				US$				US$
Profit before tax			68,819				55,217				157,697
Tax at statutory tax rate of domestic income tax rate of 16.5%			11,355				13,804				26,020
Tax effect of foreign tax jurisdictions			(141	)			(40	)			108
Tax effect of two-tiered profit tax rate			—				—				(21	)
Tax effect of non-taxable income			(35,549	)			(24,150	)			(31,954	)
Tax effect of distribution to perpetual securities holders that are deductible for tax purpose			(356	)			(1,076	)			(1,412	)
Tax effect of non-deductible expenses			27,225				9,776				4,743
Overprovision in prior years			—				—				(800	)
Tax effect of tax loss not recognized			2,242				2,515				6,637
Utilization of tax losses previously not recognized			(4,070	)			(58	)			—
Withholding tax on the dividend income			862				868				993
Income tax expense			1,568				1,639				4,314

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- References

No definition available.

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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