| Revenue |
22. Revenue
|
|
|
Year ended December 31,
|
| |
|
2022
|
|
2023
|
|
2024
|
|
Revenue from contracts with customers
|
|
$
|
20,009,994 |
|
$
|
35,838,780 |
|
$
|
48,493,897 |
a) Disaggregation of revenue from contracts with customers
The Group derives revenue from the transfer of goods and services over time and at a point in time in the following revenue sources:
|
2022
|
|
Digital
studio
|
|
Media and
branded
content
|
|
Technology
|
|
Total
|
|
Revenue from external customer contracts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TNL Group
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of revenue recognition
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At a point in time
|
|
$
|
—
|
|
$
|
403,977 |
|
$
|
—
|
|
$
|
403,977 |
|
Over time
|
|
|
9,284,911 |
|
|
2,854,724 |
|
|
7,466,382 |
|
|
19,606,017 |
| |
|
$
|
9,284,911 |
|
$
|
3,258,701 |
|
$
|
7,466,382 |
|
$
|
20,009,994 |
|
2023
|
|
Digital
studio
|
|
Media and
branded
content
|
|
Technology
|
|
Total
|
|
Revenue from external customer contracts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TNL Group
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of revenue recognition
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At a point in time
|
|
$
|
—
|
|
$
|
636,262 |
|
$
|
—
|
|
$
|
636,262 |
|
Over time
|
|
|
9,535,853 |
|
|
2,705,481 |
|
|
7,830,627 |
|
|
20,071,961 |
|
MG Group
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of revenue recognition
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At a point in time
|
|
|
—
|
|
|
6,015,726 |
|
|
2,782,809 |
|
|
8,798,535 |
|
Over time
|
|
|
5,910,518 |
|
|
421,504 |
|
|
—
|
|
|
6,332,022 |
| |
|
$
|
15,446,371 |
|
$
|
9,778,973 |
|
$
|
10,613,436 |
|
$
|
35,838,780 |
|
2024
|
|
Digital
studio
|
|
Media and
branded
content
|
|
Technology
|
|
Total
|
|
Revenue from external customer contracts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TNL Group
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of revenue recognition
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At a point in time
|
|
$
|
—
|
|
$
|
466,341 |
|
$
|
—
|
|
$
|
466,341 |
|
Over time
|
|
|
10,876,252 |
|
|
3,841,922 |
|
|
9,452,107 |
|
|
24,170,281 |
|
MG Group
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of revenue recognition
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At a point in time
|
|
|
—
|
|
|
8,858,071 |
|
|
4,753,815 |
|
|
13,611,886 |
|
Over time
|
|
|
9,673,390 |
|
|
571,999 |
|
|
—
|
|
|
10,245,389 |
| |
|
$
|
20,549,642 |
|
$
|
13,738,333 |
|
$
|
14,205,922 |
|
$
|
48,493,897 |
b) Contract assets and liabilities
The Group has recognized the following contract assets and liabilities in relation to revenue from contracts with customers:
|
|
|
January 1,
2023
|
|
December 31,
2023
|
|
December 31,
2024
|
|
Contract assets:
|
|
|
|
|
|
|
|
|
|
|
Service contracts
|
|
$
|
3,093,020 |
|
$
|
3,153,022 |
|
$
|
3,980,380 |
|
Contract liabilities
|
|
|
|
|
|
|
|
|
|
|
Advance sales receipts
|
|
$
|
680,723 |
|
$
|
988,753 |
|
$
|
578,219 |
The information relating to loss allowance for contract assets is provided in Note 42 c).
c) Significant changes in contract assets
The increase in contract assets during the year ended December 31, 2023 and 2024 was attributed to progress of projects towards contract activities and is ahead of the agreed payment schedule.
d) Revenue recognized that was included in the contract liability balance at the beginning of the period:
|
|
|
Year ended December 31,
|
| |
|
2022
|
|
2023
|
|
2024
|
|
Revenue recognized that was included in the contract liabilities balance at the beginning of the period
|
|
|
|
|
|
|
|
|
|
|
Advance sales receipts
|
|
$
|
462,295 |
|
$
|
680,723 |
|
$
|
988,753 |
e) All of the service contracts are for periods of one year or less. As permitted under IFRS 15, “Revenue from Contracts with Customers”, the transaction price allocated to these unsatisfied contracts is not disclosed.
|