REVENUE AND OTHER INCOME |
5. REVENUE AND OTHER INCOME
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:
SCHEDULE OF ANALYSIS ABOUT COMPANY'S REVENUE AND OTHER INCOME
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
|
For the years ended December 31, |
|
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
|
USD’000 |
|
|
USD’000 |
|
|
USD’000 |
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
Business management and consulting |
|
|
164 |
|
|
|
1,009 |
|
|
|
1,882 |
|
Livestreaming ecommerce |
|
|
98,609 |
|
|
|
71,093 |
|
|
|
40,672 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
Sale of goods (Note 26) |
|
|
- |
|
|
|
381 |
|
|
|
5,602 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue |
|
|
98,773 |
|
|
|
72,483 |
|
|
|
48,156 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income |
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
844 |
|
|
|
302 |
|
|
|
2 |
|
Foreign exchange gain |
|
|
- |
|
|
|
- |
|
|
|
11 |
|
Government grant |
|
|
1,250 |
|
|
|
42 |
|
|
|
- |
|
Other |
|
|
8 |
|
|
|
182 |
|
|
|
428 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
Other income (Note 26) |
|
|
- |
|
|
|
808 |
|
|
|
2,117 |
|
Total other income |
|
|
2,102 |
|
|
|
1,334 |
|
|
|
2,558 |
|
b) 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 two reportable operating segments: 1) business
management consulting, information system technology consulting services including the sales of software use rights for digital data deposit
platforms and asset management systems, and online social media platform development and consulting, and 2) natural gas power generation,
which was in the initial development stage and did not generate any revenue yet as of this report date.. 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 in the PRC and U.S. The Chief Executive Officer and executive directors regularly review the Company’s
business as two geographical segments.
The following
table shows the Company’s operations by business segment for the years ended December 31, 2024, 2023 and 2022.
SCHEDULE OF OPERATIONS BY BUSINESS SEGMENT
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
|
For the years ended December 31, |
|
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
|
USD’000 |
|
|
USD’000 |
|
|
USD’000 |
|
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
Sales of tile products |
|
|
- |
|
|
|
381 |
|
|
|
5,602 |
|
Continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
Consulting income / software |
|
|
164 |
|
|
|
1,009 |
|
|
|
1,882 |
|
Livestreaming ecommerce |
|
|
98,609 |
|
|
|
71,093 |
|
|
|
40,672 |
|
Total revenues |
|
|
98,773 |
|
|
|
72,483 |
|
|
|
48,156 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
Sales of tile products |
|
|
- |
|
|
|
1,068 |
|
|
|
6,129 |
|
Continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
Consulting income / software |
|
|
189 |
|
|
|
1,958 |
|
|
|
1,905 |
|
Livestreaming ecommerce |
|
|
98,710 |
|
|
|
62,651 |
|
|
|
36,501 |
|
Total cost of revenues |
|
|
98,899 |
|
|
|
65,677 |
|
|
|
44,535 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income |
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
Sales of tile products |
|
|
- |
|
|
|
808 |
|
|
|
2,117 |
|
Continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
Consulting income / software |
|
|
545 |
|
|
|
12 |
|
|
|
18 |
|
Livestreaming ecommerce |
|
|
1,256 |
|
|
|
50 |
|
|
|
338 |
|
Other |
|
|
301 |
|
|
|
464 |
|
|
|
104 |
|
Total other income |
|
|
2,102 |
|
|
|
1,334 |
|
|
|
2,577 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating costs and expenses |
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
Sales of tile products |
|
|
- |
|
|
|
458 |
|
|
|
3,763 |
|
Continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
Consulting income / software |
|
|
303 |
|
|
|
1,035 |
|
|
|
686 |
|
Livestreaming ecommerce |
|
|
1,236 |
|
|
|
8,514 |
|
|
|
3,740 |
|
Other |
|
|
11,004 |
|
|
|
10,564 |
|
|
|
1,394 |
|
Total operating costs and expenses |
|
|
12,543 |
|
|
|
20,571 |
|
|
|
9,583 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bad debt (reversal) expense |
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
Sales of tile products |
|
|
- |
|
|
|
(141) |
|
|
|
4,959 |
|
Continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
Consulting income / software |
|
|
- |
|
|
|
- |
|
|
|
148 |
|
Livestreaming ecommerce |
|
|
- |
|
|
|
- |
|
|
|
(557) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total bad debt
(reversal) expense |
|
|
- |
|
|
|
(141 |
) |
|
|
4,550 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other expense |
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
Sales of tile products |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
Consulting income / software |
|
|
9 |
|
|
|
- |
|
|
|
5 |
|
Livestreaming ecommerce |
|
|
- |
|
|
|
- |
|
|
|
1 |
|
Other |
|
|
- |
|
|
|
170 |
|
|
|
- |
|
Total other expense |
|
|
9 |
|
|
|
170 |
|
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from operations |
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
|
|
|
|
|
|
|
|
|
|
Sales of tile products |
|
|
- |
|
|
|
(196 |
) |
|
|
(7,132 |
) |
Continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
Consulting income / software |
|
|
208 |
|
|
|
(1,972 |
) |
|
|
(847 |
) |
Livestreaming ecommerce |
|
|
(80 |
) |
|
|
(23) |
|
|
|
1,327 |
|
Other |
|
|
(10,704 |
) |
|
|
(10,269 |
) |
|
|
(1,289 |
) |
Loss from operations |
|
|
(10,576 |
) |
|
|
(12,460 |
) |
|
|
(7,940 |
) |
|
|
As of |
|
|
As of |
|
|
|
December 31, |
|
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
Segment assets |
|
|
|
|
|
|
|
|
Discontinued operations |
|
|
|
|
|
|
|
|
Sale of tile products |
|
|
- |
|
|
|
- |
|
Continuing operations |
|
|
|
|
|
|
|
|
Business management and consulting |
|
|
19,544 |
|
|
|
7,231 |
|
Livestreaming ecommerce |
|
|
4,514 |
|
|
|
1,903 |
|
Others |
|
|
13,948 |
|
|
|
7,980 |
|
Total assets |
|
|
38,006 |
|
|
|
17,114 |
|
|