Revenue and Consolidated Segment Data (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Revenue and Consolidated Segment Data [Abstract] |
|
| Schedule of Disaggregation Information of Revenue |
Disaggregation information of revenue
by service type which was recognized based on the nature of performance obligation disclosed above is as follows:
| | |
For the six months ended
June 30, | |
| | |
2025 | | |
Percentage of
Total | | |
2024 | | |
Percentage of
Total | |
| Service Type | |
$ | | |
Revenue | | |
$ | | |
Revenue | |
| | |
(Unaudited) | | |
| | |
(Unaudited) | | |
| |
| Cash-In-Transit – Non-Dedicated Vehicles (CIT Non-DV) | |
$ | 6,297,955 | | |
| 34.6 | % | |
$ | 6,016,286 | | |
| 34.2 | % |
| Cash-In-Transit – Dedicated Vehicle to Banks (CIT DV) | |
| 1,914,764 | | |
| 10.5 | % | |
| 1,765,869 | | |
| 10.1 | % |
| ATM Management | |
| 3,349,420 | | |
| 18.4 | % | |
| 3,293,725 | | |
| 18.7 | % |
| Cash Processing (CPC) | |
| 2,133,633 | | |
| 11.7 | % | |
| 1,710,792 | | |
| 9.7 | % |
| Cash Center Operations (CCT) | |
| 903,368 | | |
| 5.0 | % | |
| 857,109 | | |
| 4.9 | % |
| Consolidate Cash Center (CCC) | |
| 285,110 | | |
| 1.6 | % | |
| 276,137 | | |
| 1.6 | % |
| Cash Deposit Management Solutions (GDM) | |
| 2,176,285 | | |
| 12.0 | % | |
| 1,842,026 | | |
| 10.5 | % |
| AI&Robotics Solution | |
| 107,470 | | |
| 0.6 | % | |
| 131,142 | | |
| 0.8 | % |
| General Security Solutions | |
| 1,039,181 | | |
| 5.6 | % | |
| 1,673,758 | | |
| 9.5 | % |
| Total | |
$ | 18,207,186 | | |
| 100.0 | % | |
$ | 17,566,844 | | |
| 100.0 | % |
|
| Schedule of Information by Segment |
Selected information by segment is presented in the following
tables for the six months ended June 30, 2025 and 2024:
| | |
For the six months ended
June 30, | |
| Revenues(1) | |
2025 | | |
2024 | |
| | |
(Unaudited) | | |
(Unaudited) | |
| Secured Logistics | |
$ | 17,060,535 | | |
$ | 15,761,944 | |
| AI&Robotics Solution | |
| 107,470 | | |
| 131,142 | |
| General Security Solutions | |
| 1,039,181 | | |
| 1,673,758 | |
| | |
$ | 18,207,186 | | |
$ | 17,566,844 | |
| (1) | The Company has no intersegment revenues. |
| | |
For the six months ended
June 30, | |
| Operating profit (loss) | |
2025 | | |
2024 | |
| | |
(Unaudited) | | |
(Unaudited) | |
| Secured Logistics | |
$ | 541,031 | | |
$ | 770,737 | |
| AI&Robotics Solution | |
| (1,109,880 | ) | |
| (504,612 | ) |
| General Security Solutions | |
| (193,447 | ) | |
| (109,979 | ) |
| Corporate and others (1) | |
| (1,718,465 | ) | |
| (2,238,008 | ) |
| Operating loss from continuing operations | |
| (2,480,761 | ) | |
| (2,081,862 | ) |
| Total other income from four segments | |
| 70,548 | | |
| 50,881 | |
| Foreign exchange (gain) losses, net: | |
| | | |
| | |
| - Secured Logistics | |
| (4,793 | ) | |
| (1,544 | ) |
| - AI&Robotics Solution | |
| 1,865 | | |
| (30,030 | ) |
| - Corporate and others | |
| (16,138 | ) | |
| (17,467 | ) |
| Finance income (costs), net: | |
| | | |
| | |
| - Secured Logistics | |
| (56,670 | ) | |
| (41,598 | ) |
| - AI&Robotics Solution | |
| (6,153 | ) | |
| (16,462 | ) |
| - General Security Solutions | |
| 131 | | |
| (1,877 | ) |
| - Corporate and others | |
| 313,026 | | |
| 239,864 | |
| Loss before income tax from continuing operations | |
| (2,178,945 | ) | |
| (1,900,095 | ) |
| Provision for income tax (expense) benefit | |
| (48,177 | ) | |
| 22,949 | |
| Net loss for the period from continuing operations | |
| (2,227,122 | ) | |
| (1,877,146 | ) |
| Net profit for the period from discontinued operations | |
| - | | |
| 38,719 | |
| Net loss for the period | |
| (2,227,122 | ) | |
| (1,838,427 | ) |
| Less: net profit attributable to the non-controlling interest | |
| 8,955 | | |
| 9,167 | |
| Net loss attributable to equity holders of the Company | |
$ | (2,236,077 | ) | |
$ | (1,847,594 | ) |
| (1) | Includes impairment of goodwill on acquired subsidiaries, non-cash compensation, legal and professional fees and consultancy fees for the Company. |
|
| Schedule of the Assets by Segment |
Total assets by segment as of June 30,
2025 and December 31, 2024 are as follows:
| Total assets | |
As of
June 30,
2025 | | |
As of
December 31,
2024 | |
| | |
(Unaudited) | | |
| |
| Secured Logistics | |
$ | 23,740,122 | | |
$ | 21,448,136 | |
| AI&Robotics Solution | |
| 2,317,646 | | |
| 1,979,695 | |
| General Security Solutions | |
| 3,379,623 | | |
| 3,837,511 | |
| Corporate and others | |
| 18,071,269 | | |
| 17,427,077 | |
| | |
$ | 47,508,660 | | |
$ | 44,692,419 | |
|
| Schedule of Non-Current Assets by Geographical Segment |
Total non-current assets by geographical
segment as of June 30, 2025 and December 31, 2024 are as follows:
| Total non-current assets | |
As of
June 30,
2025 | | |
As of
December 31,
2024 | |
| | |
(Unaudited) | | |
| |
| The PRC (including Hong Kong and Macau) | |
$ | 3,073,099 | | |
$ | 3,147,912 | |
| Thailand | |
| 12,466,694 | | |
| 10,528,245 | |
| Other countries | |
| 41,163 | | |
| 169,600 | |
| | |
$ | 15,580,956 | | |
$ | 13,845,757 | |
|