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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,793 $ 3,343
Accounts receivable, net 22,399 17,519
Deposits, prepayments and other receivables 2 575
Amount due from shareholder 95 152
Derivative financial instruments 582 685
Total current assets 24,871 22,274
Non-current assets:    
Property and equipment, net 1 [1]
Right-of-use assets, net 16 62
Deferred offering costs 1,321
Total non-current assets 17 1,383
TOTAL ASSETS 24,888 23,657
Current liabilities:    
Accounts payable 20,214 17,067
Accrued liabilities 237 50
Other payables 180
Lease liabilities 16 42
Loan from shareholder 4,000
Income tax payable 136 127
Total current liabilities 24,783 17,286
Non-current liabilities:    
Lease liabilities 18
Loan from shareholder 5,000
Total non-current liabilities 5,018
TOTAL LIABILITIES 24,783 22,304
Commitments and contingencies
Shareholders’ equity:    
Ordinary share, par value US$0.000005, 100,000,000,000 shares authorized, 16,350,000 shares issued* [1],[2]
Additional paid-up capital 3,910 695
Retained earnings/(accumulated deficit) (3,851) 612
Other reserve 46 46
Total shareholders’ equity 105 1,353
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 24,888 $ 23,657
[1] — Denotes amount less than US$1,000.
[2] Retrospectively restated for the effect of 1:200 forward stock split of our Ordinary Shares and the shares surrendered by our existing shareholders.