v3.25.2
REVENUE AND OTHER INCOME
12 Months Ended
Dec. 31, 2024
Revenue And Other Income  
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:

  

    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.

  

    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