v3.25.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
(Loss)/profit before tax $ 1,648 $ (10,341)
Adjustments for:    
Depreciation of property, plant and equipment 2 1
Amortization of intangible assets 319 195
Amortization of right-of-use assets 300  
Allowance for credit losses on accounts receivable 162  
Share-based compensation expenses 805  
Fair value changes on financial asset at fair value through profits or loss (911) 9
Share of losses from an equity investee 24  
Realized fair value changes on digital assets   (935)
Realized fair value changes on amount due to related parties denominated in digital assets (98) 285
Fair value changes on derivative contract (1,250) 26
Unrealized fair value changes on digital assets   8,399
Unrealized fair value changes on amount due to related parties denominated in digital assets 1,498 193
Interest expense 61 22
Interest income (99) (74)
Net income received or settled in digital assets (2,086) 1,553
Operating cash flows before working capital changes 375 (667)
Changes in working capital:    
Trade and other receivables 276 (70)
Trade and other payables (4,588) 311
Contract liabilities 878  
Balances with related parties (1,047)  
Cash generated from operating activities (4,106) (426)
Income tax refunded 9  
Net cash used in operating activities (4,097) (426)
Cash flows from investing activities    
Advance to related parties (1,337) (4,054)
Purchase of intangible assets (92)  
Purchase of financial assets at fair value through profits or loss (1,086)  
Disposal of crypto assets held 2,086  
Interest received 99 74
Change in time deposits   (3,000)
Net cash used in investing activities (330) (6,980)
Cash flows from financing activities    
Repayment of bank borrowings (1,969)  
Proceeds from bank borrowings 2,672  
Repayment from related parties, net 2,471 7,379
Payment for principal and interest of lease liabilities (383)  
Issuance of preference shares   3,000
Net cash generated from financing activities 2,791 10,379
Net increase/(decrease) in cash and bank balances (1,636) 2,973
Reconciliation of cash and bank balances within the unaudited condensed consolidated statements of financial position to the amounts shown in the unaudited condensed consolidated statements of cash flows above:    
Cash and cash equivalents 22,716 3,766
Restricted cash, current 3,111  
Reconciliation of cash and bank balances $ 25,827 $ 3,766