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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income $ 6,301 $ 4,558 $ 2,811
Adjustments to reconcile net income to net cash generated from operating activities      
(Reversal)/provision for bad debts 790 452 (126)
Impairment/(reversal) for inventory obsolescence (103) 106 657
Depreciation of property and equipment 2,680 2,191 985
Amortization of intangible assets 129 137 136
Gains on disposals of property and equipment (104) (80) (203)
Interest expenses 196 196 133
Share-based compensation 1,043 1,241 3,314
Fair value losses/(gains) on other investments (4,643) (1,091) 2,748
Share of (profit)/loss in equity method investments 12 (210) (357)
Foreign currency exchange losses/(gains), net (518) 470 514
Changes in operating assets and liabilities      
Accounts receivable 3,471 (1,812) (390)
Prepayments and other assets 379 1,009 (1,713)
Inventories (2,986) 766 784
Accrued expenses, accounts payable and other liabilities (6,304) 2,238 (691)
Amounts due to related parties (49) (1,202) (231)
Amounts due from related parties 274 974 (2,247)
Contract liabilities 2,716 (717) 373
Other non-current liabilities (29) (58) (59)
Operating lease right-of-use assets 1,131 (555) (2,115)
Operating lease liabilities (1,178) 573 2,184
Net cash generated from operating activities 3,208 9,186 6,507
Cash flows from investing activities      
Purchase of property and equipment (924) (3,998) (2,065)
Purchase of intangible assets (122)
Proceeds from disposal of property and equipment 225 240 217
Dividends received from long-term investment 83
Decrease in short-term deposit 196
Proceeds from redemption of other investment 1,329
Payments for loans to third parties (500)
Proceeds from collection of loans to third parties 293
Net cash used in investing activities (1,028) (3,758) (240)
Cash flows from financing activities      
Proceeds from other borrowings 2,541
Repayments of other borrowings (2,504) (34)
Proceeds from bank borrowings 7,211 6,988 5,369
Repayments of bank borrowings (7,089) (2,752) (5,416)
Proceeds from exercise of share options 49
Net cash generated from financing activities 122 1,732 2,509
Increase in cash and cash equivalents 2,302 7,160 8,776
Cash and cash equivalents at beginning of year 30,057 23,371 14,921
Effect of exchange rates on cash and cash equivalents 472 (474) (326)
Cash and cash equivalents at end of year 32,831 30,057 23,371
Supplemental disclosure of cash flow information:      
Interest paid (196) (196) (133)
Cash paid for amounts included in operating lease liabilities (2,029) (573)
Supplemental disclosure of non-cash flow information:      
Right-of-use assets obtained in exchange for operating lease obligations 724 2,335 2,806
Cancellation of vested Restricted Shares [1]
Issuance upon subsequent vesting of Restricted Shares [1]
Issuance of shares upon vesting of Restricted Shares [1] [1] $ 1
[1] Less than one thousand.