| Schedule of Tax Rate |
Before that, the applicable tax rate
was 16.5% for corporations in Hong Kong.
| | |
2025 | | |
2024 | | |
2023 | |
| | |
US$ | | |
US$ | | |
US$ | |
| | |
| | |
| | |
| |
| Tax recognized in profit or loss | |
| | |
| | |
| |
| Income tax expense | |
| | |
| | |
| |
| Current tax | |
| — | | |
| — | | |
| 218,035 | |
| | |
| | | |
| | | |
| | |
| Income (loss) from continuing operation before income tax | |
| 15,894,755 | | |
| (3,679,409 | ) | |
| (11,701,303 | ) |
| Tax calculated at domestic tax rates applicable to respective profits (2025, 2024 and 2023: 16.5%) | |
| 2,622,635 | | |
| (607,103 | ) | |
| (1,930,715 | ) |
| Effect of non-taxable income | |
| (8,324,067 | ) | |
| (1,222,235 | ) | |
| (6,697 | ) |
| Effect of expenses not deductible for tax purposes | |
| 878,754 | | |
| 332,697 | | |
| 450,882 | |
| Utilization of tax losses previously not recognized | |
| — | | |
| (1,958 | ) | |
| — | |
| Tax effect of tax losses not recognized | |
| 4,822,678 | | |
| 1,498,599 | | |
| 2,155,447 | |
| Income tax expense | |
| — | | |
| — | | |
| 218,035 | |
|