v3.25.4
SEGMENT INFORMATION
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
North Water Investment Group Holdings Limited [Member]    
Restructuring Cost and Reserve [Line Items]    
SEGMENT INFORMATION  

17. SEGMENT INFORMATION

 

Reportable segments

 

The Group operates as a single1 reportable segment, which is consistent with how the Chief Operating Decision Maker (“CODM”), the Chief Executive Officer, allocates resources and assesses performance. The Group’s operations are centralized and integrated, with financial results reviewed and managed on a consolidated basis. Accordingly, management has determined that the Group has one reportable segment under ASC Topic 280, Segment Reporting.

 

Measure of segment profit or loss

 

The CODM reviews financial information on a consolidated basis, using Net (Loss) Income as the primary measure of segment performance to monitor budget versus actual results and decide where to allocate and invest additional resources to achieve continued growth. Net (Loss) Income is defined as revenues less operating expenses, other segment items (including interest income, other income and other expenses), and income taxes.

 

Significant segment expense categories provided to the CODM

 

The CODM regularly receives and reviews the following expense categories, which are included in the segment’s measure of profit or loss.

 

SCHEDULE OF SEGMENT’S MEASURE OF PROFIT OR LOSS

   2023   2024   2024 
   For the years ended December 31, 
   2023   2024   2024 
   HK$   HK$   US$ 
             
Revenues   170,284    5,978,961    773,125 
                
Allowance for credit losses   -    (67,263)   (8,698)
Employee compensation and benefits   (1,173,400)   (1,404,059)   (181,555)
Other general and administrative expenses   (824,616)   (1,465,993)   (189,564)
                
Other segment income, net   752,933    305,629    39,520 
                
Income tax expense   -    -    - 
                
Net (loss) income   (1,074,799)   3,347,275    432,828 

 

The following table presents revenues by geographic area based on the location where services are provided:

 

SCHEDULE OF REVENUES BY GEOGRAPHICAL AREAS

   2023   2024   2024 
   For the years ended December 31, 
   2023   2024   2024 
   HK$   HK$   US$ 
             
Hong Kong   170,284    5,978,961    773,125 
Total revenues   170,284    5,978,961    773,125 

 
Mango Financial Group Limited [Member]    
Restructuring Cost and Reserve [Line Items]    
SEGMENT INFORMATION

 

20. SEGMENT INFORMATION

 

Reportable segments

 

The Group operates as a single reportable segment, which is consistent with how the Chief Operating Decision Maker (“CODM”), the Chief Executive Officer, allocates resources and assesses performance. The Group’s operations are centralized and integrated, with financial results reviewed and managed on a consolidated basis. Accordingly, management has determined that the Group has one reportable segment under ASC Topic 280, Segment Reporting.

 

Measure of segment profit or loss

 

The CODM reviews financial information on a consolidated basis, using Net (loss) income as the primary measure of segment performance to monitor budget versus actual results and decide where to allocate and invest additional resources to achieve continued growth. Net (loss) income is defined as revenues less operating expenses, other segment items (including interest income, other income and other expenses), and income taxes.

 

As the CODM reviews results on a consolidated basis, the segment profit (loss) is consistent with the consolidated profit (loss) presented in the unaudited condensed consolidated statements of comprehensive income. The CODM does not review discrete financial information for the Group’s assets or liabilities; accordingly, no separate segment assets or liabilities are disclosed.

 

 

MANGO FINANCIAL GROUP LIMITED

 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2025 (UNAUDITED)

 

20. SEGMENT INFORMATION (Continued)

 

Significant segment expense categories provided to the CODM

 

The CODM regularly receives and reviews the following expense categories, which are included in the segment’s measure of profit or loss.

 

Other segment income primarily comprises interest income and miscellaneous gains or losses.

 

   2024   2025   2025 
   For the six months ended June 30, 
   2024   2025   2025 
   HK$   HK$   US$ 
   (Unaudited)   (Unaudited)   (Unaudited) 
             
Revenues   5,208,085    8,418,642    1,076,552 
                
Allowance for credit losses   -    -    - 
Employee compensation and benefits   (563,100)   (1,592,338)   (203,624)
Information costs   (203,728)   (142,894)   (18,273)
Introduction fees   -    (761,556)   (97,385)
Lease expenses   -    (995,834)   (127,345)
Legal and professional fees   (25,000)   (580,772)   (74,268)
Rates and building management fees   (29,266)   (243,796)   (31,176)
Other general and administrative expenses   (83,331)   (281,557)   (36,004)
                
Other segment income, net   204,228    72,915    9,323 
                
Income tax expense   -    -    - 
                
Net income   4,507,888    3,892,810    497,800 

 

The following table presents revenues by geographic area based on the location where services are provided:

 

   2024   2025   2025 
   For the six months ended June 30, 
   2024   2025   2025 
   HK$   HK$   US$ 
   (Unaudited)   (Unaudited)   (Unaudited) 
                
Hong Kong   5,208,085    8,418,642    1,076,552