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UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,661 $ 678
Accounts receivable, net 27,270 7,692
Prepaid expenses and other current assets, net 4,218 3,521
Inventory 123 319
Total current assets 33,272 12,210
Property, plant and equipment 551 578
Right-of-use asset 18 37
Loan to a related party, net 6,164 5,972
Other receivable – non-current, net 545 891
Total non-current assets 7,278 7,478
TOTAL ASSETS 40,550 19,688
Current liabilities:    
Bank loans – current 3,804 219
Operating lease liability – current 18 37
Finance lease – current 30 29
Accounts payable 26,309 9,134
Accruals and other current liabilities 2,401 2,236
Income taxes payable 16 35
Total current liabilities 32,578 11,690
Bank loans – non-current 50 103
Finance lease – non-current 65 72
Amount due to a related party 1,096 1,096
Total non-current liabilities 1,211 1,271
TOTAL LIABILITIES 33,789 12,961
Commitments and contingencies
Shareholders’ equity    
Additional paid-in capital 3,151 3,151
Merger reserve 1,113 1,113
Retained earnings 2,493 2,452
Accumulated other comprehensive income 4 11
Total shareholders’ equity 6,761 6,727
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 40,550 19,688
Common Class A [Member]    
Shareholders’ equity    
Common stock, value [1]
Common Class B [Member]    
Shareholders’ equity    
Common stock, value [1]
[1] Denotes amount less than US$1,000