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Concentration and Risks | 12 Months Ended
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Dec. 31, 2025
Concentration and Risks [Abstract] |
Concentration and risks |
15. | Concentration and risks
The Company is not exposed to significant financial risks other than the concentration risk, which is analysed as follows: Customers Customers who accounted for 10% or more of the Company’s revenues or with significant outstanding receivables are analysed as follows:
|  | Sales for years ended December 31, |  |  | Balance as of December 31, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Customer A |  |  | — | % |  |  | 16.25 | % |  |  | — | % |  |  | 33.95 | %
Customer B |  |  | — |  |  |  | 6.11 |  |  |  | — |  |  |  | 10.02 |
Customer C |  |  | — |  |  |  | 10.96 |  |  |  | 6.27 |  |  |  | 18.31 |
Customer D |  |  | — |  |  |  | 8.08 |  |  |  | 7.47 |  |  |  | 13.86 |
Customer E |  |  | 20.02 |  |  |  | — |  |  |  | 13.16 |  |  |  | — |
Customer F |  |  | 10.94 |  |  |  | — |  |  |  | 10.78 |  |  |  | — |
Customer G |  |  | — |  |  |  | 18.09 |  |  |  | 1.91 |  |  |  | 9.13 |
Customer H |  |  | 12.52 |  |  |  | — |  |  |  | 10.25 |  |  |  | — |
Customer I |  |  | 10.09 |  |  |  | — |  |  |  | 6.11 |  |  |  | — |
Customer J |  |  | 11.48 |  |  |  | — |  |  |  | 12.50 |  |  |  | — |
Customer K |  |  | 10.98 |  |  |  | — |  |  |  | 11.94 |  |  |  | — |
Customer L |  |  | 20.22 |  |  |  | — |  |  |  | 19.61 |  |  |  | — |
|  |  | 96.25 | % |  |  | 59.49 | % |  |  | 100.00 | % |  |  | 85.27 | %
Vendors Vendors who accounted for 10% or more of the Company’s cost of sales or with significant outstanding payables are analysed as follows:
|  | Cost of sales for years ended December 31, |  |  | Balance as of December 31, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Vendor A |  |  | 36.5 | % |  |  | 3.4 | % |  |  | — | % |  |  | — | %
Vendor B |  |  | 13.6 |  |  |  | — |  |  |  | — |  |  |  | — |
Vendor C |  |  | 12.8 |  |  |  | 2.3 |  |  |  | — |  |  |  | — |
Vendor D |  |  | 12.5 |  |  |  | 18.5 |  |  |  | — |  |  |  | — |
|  |  | 75.4 | % |  |  | 24.2 | % |  |  | — | % |  |  | — | %

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (d)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (d)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482836/275-10-55-3A Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-2A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-1 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
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