| ACCOUNTS RECEIVABLE, NET |
5. ACCOUNTS RECEIVABLE, NET
Accounts receivable, net is comprised of the following:
| | |
As of December 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
HK$ | | |
HK$ | | |
US$ | |
| Accounts receivable | |
| | |
| | |
| |
| - Third parties | |
| 23,658,209 | | |
| 29,853,899 | | |
| 3,835,635 | |
| - Related parties | |
| 570,149 | | |
| — | | |
| — | |
| Total | |
| 24,228,358 | | |
| 29,853,899 | | |
| 3,835,635 | |
| Allowance for expected credit losses | |
| (491,148 | ) | |
| (597,128 | ) | |
| (76,719 | ) |
| Accounts receivable, net | |
| 23,737,210 | | |
| 29,256,771 | | |
| 3,758,916 | |
Allowance for expected credit losses, net
consists of the following:
| | |
As of December 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
HK$ | | |
HK$ | | |
US$ | |
| Beginning balance | |
| 7,698,280 | | |
| 491,148 | | |
| 63,103 | |
| Addition | |
| 491,301 | | |
| 597,128 | | |
| 76,719 | |
| Reversal | |
| (813,277 | ) | |
| (491,294 | ) | |
| (63,121 | ) |
| Written-off | |
| (6,874,065 | ) | |
| — | | |
| — | |
| Exchange alignment | |
| (11,091 | ) | |
| 146 | | |
| 18 | |
| Ending balance | |
| 491,148 | | |
| 597,128 | | |
| 76,719 | |
|