[1]	Retrospectively restated for the effect of 1:200 forward stock split of our Ordinary Shares and the shares surrendered by our existing shareholders.

Consolidated Statements of Cash Flow - USD ($)

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Cash flows from operating activities:

Net income/(loss) after tax

$ (4,463,000)

$ 1,028,000

$ 1,152,000

Depreciation of property and equipment

^[1]

11,000

24,000

Amortization of right-of-use assets

44,000

57,000

43,000

Gain on disposal of property

(177,000)

Interest expense

7,000

178,000

23,000

Fair value gain on derivative financial instruments

(21,000)

Change in working capital:

Accounts receivable, net

(4,880,000)

(16,806,000)

2,716,000

Deposits, prepayments and other receivables

573,000

(540,000)

24,000

Accounts payable

3,147,000

17,067,000

Other payables

180,000

Accrued liabilities

187,000

(25,000)

(44,000)

Lease liabilities

(44,000)

(62,000)

(47,000)

Income tax payable

9,000

(119,000)

200,000

Interest paid

(5,000)

(20,000)

Net cash provided by/ (used in) operating activities

(5,245,000)

612,000

4,050,000

Cash flows from investing activities:

Derivative financial instruments

103,000

(78,000)

(107,000)

Proceeds from disposal of property

957,000

Amount due from shareholder

57,000

(327,000)

(81,000)

Net cash (used in)/ provided by investing activities

160,000

552,000

(188,000)

Cash flows from financing activities:

Amount due to related party

(175,000)

Purchase of property and equipment

(1,000)

Repayment of loan

(1,000,000)

Payment of offering costs

(1,321,000)

Proceed from issuance of stock

4,536,000

Dividend paid

(4,745,000)

(1,500,000)

Net cash (used in)/ provided by financing activities

3,535,000

(6,066,000)

(1,675,000)

Net change in cash and cash equivalents

(1,550,000)

(4,902,000)

2,187,000

BEGINNING OF FINANCIAL YEAR

3,343,000

8,245,000

6,058,000

END OF FINANCIAL YEAR

1,793,000

3,343,000

8,245,000

Supplemental Cash Flow Information:

Cash paid for income taxes

(127,000)

(219,000)

(25,000)

Cash paid for interest

(7,000)

(3,000)

(23,000)

Supplemental schedule of noncash financing activities

Loan from shareholder

5,000,000

Dividend payable

$ (5,000,000)

[1]	— Denotes amount less than US$1,000.

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

575

Amount due from shareholder

152

Derivative financial instruments

582

685

Total current assets

24,871

22,274

Non-current assets:

Property and equipment, net

^[1]

Right-of-use assets, net

Deferred offering costs

1,321

Total non-current assets

1,383

TOTAL ASSETS

24,888

23,657

Current liabilities:

Accounts payable

20,214

17,067

Accrued liabilities

237

Other payables

180

Lease liabilities

Loan from shareholder

4,000

Income tax payable

136

127

Total current liabilities

24,783

17,286

Non-current liabilities:

Lease liabilities

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

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.