v3.26.1
Financial Risks Management (Tables)
 12 Months Ended
Dec. 31, 2025
Financial Risks Management [Abstract]  
Schedule of Internal Credit Risk Grading Framework

The Company’s internal credit risk grading framework comprises the following categories:

 

Category   Definition of category   Basis for recognizing ECL
I   Counterparty has a low risk of default and does not have any past-due amounts.   12 month ECL
II   Amount is >30 days past due or there has been a significant increase in credit risk since initial recognition.   Lifetime ECL — not credit impaired
III   Amount is >60 days past due or there is evidence indicating the asset is credit-impaired (in default).   Lifetime ECL — credit-impaired
IV   There is evidence indicating that the debtor is in severe financial difficulty and the debtor has no realistic prospect of recovery.   Amount is written off
Schedule of Maximum Exposure to Credit Risk by Credit Risk Rating Categories

The table below details the credit quality of the Company’s financial assets, as well as maximum exposure to credit risk by credit risk rating categories:

 

December 31, 2024  Category  12-month or
lifetime ECL		  Gross
carrying
amount		   Loss
allowance		   Net carrying
amount		 
         HK$   HK$   HK$   US$ 
Trade receivables  II
Note 1		  Lifetime ECL
(Simplified)		   8,161,899    (347,863)   7,814,036    1,003,949 
Trade receivables  III
Note 1		  Lifetime ECL
(Simplified)		   1,955,392    (1,955,392)   
—
    
—
 
Other receivables  I
Note 2		  12 – month
ECL		   1,292,138    
—
    1,292,138    166,014 
Cash and bank balances  I
Note 3		  12 – month
ECL		   42,222,014    
—
    42,222,014    5,424,693 
          53,631,443    (2,303,255)   51,328,188    6,594,656 
December 31, 2025   Category   12-month or
lifetime ECL		   Gross
carrying
amount		     Loss
allowance		     Net carrying
amount		  
            HK$     HK$     HK$     US$  
Trade receivables   II
Note 1		   Lifetime ECL
(Simplified)		     11,248,478       (665,773 )     10,582,705       1,359,668  
Trade receivables   III
Note 1		   Lifetime ECL
(Simplified)		     2,632,180       (2,632,180 )     —       —  
Other receivables   I
Note 2		   12 – month
ECL		     930,251       —       930,251       119,519  
Cash and bank balances   I
Note 3		   12 – month
ECL		     6,859,938       —       6,859,938       881,366  
              21,670,847       (3,297,953 )     18,372,894       2,360,553  
Schedule of Trade Receivables is Presented Based on their Past Due Status Accordingly, the credit risk profile of trade receivables is presented based on their past due status in terms of the provision matrix.
December 31, 2024  Trade
receivables		   ECL   Trade
receivables,
net		   Trade
receivables,
net		 
   HK$   HK$   HK$   US$ 
Not past due   2,285,951    (49,000)   2,236,951    287,404 
< 30 days   610,031    (13,449)   596,582    76,649 
31 days to 60 days   936,183    (119,264)   816,919    104,958 
61 days to 90 days   710,025    (35,012)   675,013    86,726 
91 days to 120 days   201,535    (20,312)   181,223    23,284 
>120 days   5,373,566    (2,066,218)   3,307,348    424,929 
    10,117,291    (2,303,255)   7,814,036    1,003,950 

 

December 31, 2025   Trade
receivables		     ECL     Trade
receivables,
net		     Trade
receivables,
net		  
    HK$     HK$     HK$     US$  
Not past due     4,974,813       (218,392 )     4,756,421       611,106  
< 30 days     1,624,796       (115,537 )     1,509,259       193,910  
31 days to 60 days     314,153       (108,990 )     205,163       26,359  
61 days to 90 days     1,367,306       (146,387 )     1,220,919       156,864  
91 days to 120 days     701,946       (31,881 )     670,065       86,090  
>120 days     4,897,644       (2,676,766 )     2,220,878       285,339  
      13,880,658       (3,297,953 )     10,582,705       1,359,668  
Schedule of Contractual Undiscounted Cash Flows

The table below analyses the Company’s financial liabilities into relevant maturity groupings based on the remaining period at the end of the reporting period to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.

 

    As of December 31,  
    2024     2025  
    HK$     HK$     US$  
Within one year or on demand                  
Trade and other payables     12,990,458       10,566,327      

1,357,565

  
Bank borrowings     4,081,908       —       —  
Lease liabilities     1,457,688       3,201,312       411,305  
Convertible promissory notes     23,303,100       —       —  
      41,833,154      

13,767,639

      

1,768,870

  
                         
Over one year                        
Lease liabilities     1,124,592       1,910,377       245,446  
Schedule of Exposure to Foreign Currency Risk

At the end of each reporting year, the Company’s exposure to foreign currency risk is as follows:

 

   As of December 31, 
   2024   2025 
   HK$   HK$ 
Financial assets (in US$)        
Trade and other receivables   41,470    313,861 
Cash and bank balances   40,779,850    3,612,913 
    40,821,320    3,926,774 
           
Financial liabilities (in US$)          
Trade and other payables   3,097,792    3,377,400 
Convertible promissory notes   13,860,647    
—
 
Derivative   6,756,516    
—
 
    23,714,955    3,377,400 
           
Net exposure   17,106,365    549,374 
Schedule of Other Variables Remain Constant

A 1% (2024 1%) strengthening/weakening of Hong Kong Dollar against the foreign currency denominated balances as at the end of the reporting year would increase/(decrease) profit or loss by the amounts shown below. This analysis assumes that all other variables remain constant.

 

   Year ended December 31, 
   2024   2025 
   HK$   HK$   US$ 
US$ against HK$            
- Strengthened   170,649    5,494    706 
- Weakened   (170,649)   (5,494)   (706)