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Operating Segment Information

6 Months Ended

12 Months Ended

Jun. 30, 2025

Dec. 31, 2024

Operating Segment Information [Abstract]

The Group has six reportable segments based on geographic areas, namely Hong Kong, Singapore, Philippines, Taiwan, Malaysia (Malaysia ceased operations as at June 30, 2024 and is no longer a reportable segment as at December 31, 2024) and Other Asia. Each of these geographic segments operates an online financial comparison platform with their respective local market brand. Each geographical segment has different regulatory, political and economic environments for which its financial performance is influenced by market factors and strategic initiatives. Furthermore, each geographic segment represents a business in different stages of development with Hong Kong and Singapore being the most mature. No operating segments have been aggregated to form the above reportable operating segments.

Management monitors the results of the Group’s operating segments separately for the purpose of assessing performance and making decisions about resource allocations. Segment performance is evaluated based on reportable segment results which is a measure of operating loss before tax.

	Hong Kong		Singapore			Philippines			Taiwan			Other Asia			Unallocated			Total
	US$		US$			US$			US$			US$			US$			US$
Six months ended June 30, 2025 (unaudited)
Segment revenue
Sales to external customers		14,194,612		12,857,209			3,475,989			1,808,274			-			-			32,336,084

Segment profit/(loss)		118,731		(550,554	)		(1,236,933	)		(530,675	)		(33,027	)		(3,026,948	)		(5,259,406	)

Reconciliation:
Interest income																			314,957
Finance costs																			(26,173	)
Depreciation and amortization																			(623,524	)
Equity-settled share-based payment expense																			(745,096	)
Changes in fair value of financial instruments																			157,698
Unrealised foreign exchange differences, net																			3,962,673

Loss before tax																			(2,218,871	)

	Hong Kong			Singapore			Philippines			Taiwan			Malaysia			Other Asia			Unallocated			Total
	US$			US$			US$			US$			US$			US$			US$			US$
Six months ended June 30, 2024 (unaudited)
Segment revenue
Sales to external customers		14,981,761			17,962,713			6,917,244			2,826,070			160,720			-			-			42,848,508

Segment loss		(2,327,198	)		(4,906,691	)		(1,412,318	)		(911,530	)		(671,317	)		(56,564	)		(6,102,440	)		(16,388,058	)

Reconciliation:
Interest income																							951,067
Finance costs																							(13,363	)
Depreciation and amortization																							(2,047,489	)
Impairment of assets																							(91,599	)
Equity-settled share option expense																							(1,637,724	)
Changes in fair value of financial instruments																							(236,547	)
Unrealised foreign exchange differences, net																							(5,801,573	)

Loss before tax																							(25,265,286	)

4.	OPERATING SEGMENT INFORMATION

The Group has six reportable segments based on geographic areas, namely Hong Kong, Singapore, Philippines, Taiwan, Malaysia and Other Asia. Each of these geographic segments operates an online financial comparison platform with their respective local market brand. Each geographical segment has different regulatory, political and economic environments for which its financial performance is influenced by market factors and strategic initiatives. Furthermore, each geographic segment represents a business in a different stage of development with Hong Kong and Singapore being the most mature. No operating segments have been aggregated to form the above reportable operating segments.

	Hong Kong			Singapore			Philippines			Taiwan			Malaysia			Other Asia			Unallocated			Total
	US$			US$			US$			US$			US$			US$			US$			US$
Year ended December 31, 2024
Segment revenue
Sales to external customers		30,443,311			30,890,285			12,843,932			5,136,523			196,695			-			-			79,510,746

Segment loss		(2,585,990	)		(6,501,311	)		(1,726,411	)		(1,331,595	)		(552,509	)		(88,113	)		(11,432,169	)		(24,218,098	)
Reconciliation:
Interest income																							1,478,436
Gain on disposal of assets in Malaysian operations																							600,000
Finance costs																							(25,472	)
Depreciation and amortization																							(4,042,969	)
Impairment of intangible assets																							(4,541,074	)
Equity-settled share-based payment expense																							(3,179,214	)
Changes in fair value of financial instruments																							446,811
Unrealized foreign exchange differences, net																							(4,196,831	)

Loss before tax																							(37,678,411	)

	Hong Kong		Singapore			Philippines		Taiwan			Malaysia			Other Asia			Unallocated			Total
	US$		US$			US$		US$			US$			US$			US$			US$
Year ended December 31, 2023
Segment revenue
Sales to external customers		26,947,177		32,069,713			14,169,389		6,742,747			738,053			4,002			-			80,671,081

Segment profit/(loss)		680,500		(1,579,640	)		768,659		(826,446	)		(485,596	)		(105,546	)		(5,216,442	)		(6,764,511	)
Reconciliation:
Interest income																					872,503
Finance costs																					(19,028,007	)
Depreciation and amortization																					(7,164,677	)
Impairment of intangible assets																					(3,105,507	)
Equity-settled share-based payment expense																					(6,629,044	)
Other long-term employee benefits expense																					(109,702	)
Changes in fair value of financial instruments																					(57,333,432	)
Share-based payment on listing																					(67,027,178	)
Transaction expenses																					(6,643,367	)
Other equity-settled transactions																					(500,000	)
Unrealized foreign exchange differences, net																					895,392

Loss before tax																					(172,537,530	)

	Hong Kong			Singapore			Philippines			Taiwan			Malaysia			Other Asia			Unallocated			Total
	US$			US$			US$			US$			US$			US$			US$			US$
Year ended December 31, 2022
Segment revenue
Sales to external customers		22,247,140			23,467,954			9,857,822			11,027,139			1,282,194			250,007			-			68,132,256

Segment loss		(283,904	)		(2,035,946	)		(1,327,478	)		(1,160,908	)		(1,877,997	)		(1,353,876	)		(8,541,112	)		(16,581,221	)
Reconciliation:
Interest income																							28,043
Finance costs																							(7,800,597	)
Depreciation and amortization																							(4,788,750	)
Impairment of goodwill																							(4,382,926	)
Impairment of intangible assets																							(1,450,781	)
Equity-settled share-based payment expense																							(14,430,835	)
Other long-term employee benefits credit																							4,951,482
Changes in fair value of financial instruments																							(1,101,484	)
Gain on derecognition of convertible loans and bridge loan																							135,031
Other equity-settled transactions																							(882,115	)
Unrealized foreign exchange differences, net																							(3,389,441	)

Loss before tax																							(49,693,594	)

Segment information on non-current assets is shown below:

	2024		2023
	US$		US$

Hong Kong		119,515		284,367
Singapore		1,693,004		7,635,554
Philippines		121,049		66,218
Taiwan		42,735		50,195
Malaysia		-		37,959

Total non-current assets		1,976,303		8,074,293

The non-current assets information above is based on the locations of the assets and excludes financial instruments.

A measure of total assets and liabilities for each reportable segment is not disclosed as such amounts are not regularly provided to the chief operating decision maker.