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REVENUE AND OTHER INCOME

6 Months Ended

Jun. 30, 2024

5. REVENUE AND OTHER INCOME

	a)	Revenue comprises the fair value of the consideration received or receivable for the sale of goods.

		An analysis of the Company’s revenue and other income is as follows:

	USD’000		USD’000
	For the six months ended June 30,
	2024		2023
	USD’000		USD’000
Revenues
Continuing operations
Business management and consulting		-		477
Livestreaming ecommerce		43,462		44,159

Discontinued operations
Sale of tiles (Note 18)		-		390

Total revenues		43,462		45,026
Total revenues		43,462		45,026

Other income
Continuing operations
Interest income		213		77
Government grant		-		45
Tax subsidy		438		120
Loan forgiveness		-		167

Discontinued operations
Other income (Note 18)		-		825
Total other income		651		1,234

Segment reporting

The Company identifies operating segments and prepares segment information based on the regular internal financial information reported to the Chief Executive Officer and executive directors, who are the Company’s chief operating decision makers for their decisions about the allocation of resources to the Company’s business components and for their review of the performance of those components.

All of the Company’s operations are considered by the chief operating decision makers to be aggregated into three reportable operating segments: 1) the provision of livestreaming ecommerce industry which was acquired as part of a strategic transformation towards trending technology businesses in China to mitigate the challenging conditions in the real estate market in China, and associated industries like the Company’s legacy ceramic tile business, (2) business management and consulting; and (3) the manufacture and sale of standard to high-end ceramic tiles, which was disposed by the Company in April 2023. Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the Company’s chief operating decision makers in deciding how to allocate resources and in assessing performance.

The business of the Company is engaged entirely in the PRC. The Chief Executive Officer and executive directors regularly review the Company’s business as one geographical segment.

The following table shows the Company’s operations by business segment for the six months ended June 30, 2024 and 2023.

	USD’000			USD’000
	For the six months ended June 30,
	2024			2023
	USD’000			USD’000
Revenues
Discontinued operations
Sales of tile products		-			390
Continuing operations
Consulting income / software		-			477
Livestreaming ecommerce		43,462			44,159
Total revenues		43,462			45,026

Cost of revenues
Discontinued operations
Sales of tile products		-			1,091
Continuing operations
Consulting income / software		65			1,177
Livestreaming ecommerce		39,904			36,647
Total cost of revenues		39,969			38,915

Operating costs and expenses
Discontinued operations
Sales of tile products		-			468
Continuing operations
Consulting income / software		139			373
Livestreaming ecommerce		3,641			7,676
Other		6,750			4,639
Total operating costs and expenses		10,530			13,156

Bad debt expense (reversal)
Discontinued operations
Sales of tile products		-			144
Continuing operations
Consulting income / software		-			-
Livestreaming ecommerce		-			-
Total bad debt expense		-			144

Other expenses
Discontinued operations
Sales of tile products		-			-
Continuing operations
Consulting income / software		-			-
Livestreaming ecommerce		139			-
Total other expenses		139			-

Other income
Discontinued operations
Sales of tile products		-			825
Continuing operations
Consulting income / software		-			11
Livestreaming ecommerce		446			154
Other		205			244
Total other income		651			1,234

Loss from operations
Sales of tile products		-			(200	)
Consulting income / software		(212	)		(1,062	)
Livestreaming ecommerce		224			(11	)
Other		(6,537	)		(4,394	)
Loss from operations		(6,525	)		(5,667	)

	As of June 30, 2024		As of December 31, 2023
	USD’000		USD’000
Segment assets
Ceramic tile products		-		-
Consulting income/software		13,535		7,231
Livestreaming ecommerce		3,692		1,903
Others		10,937		7,980
Total assets		28,164		17,114