| Schedule of Consideration Transferred for Acquisition |
The total consideration transferred for the acquisition of MG by the Group is as follows:
| | |
May 25,
2023 | |
| | |
| |
| Purchase consideration | |
| | |
| Equity instruments (501,789 ordinary shares of the Company) | |
$ | 70,629,011 | |
The following table summarizes the recognized amounts of assets
acquired and liabilities assumed at the acquisition date:
| | |
May 25, 2023 | |
| | |
| |
| Cash and cash equivalents | |
$ | 1,903,424 | |
| Accounts receivables and notes receivables | |
| 2,633,089 | |
| Other receivables | |
| 130,238 | |
| Inventories | |
| 130,150 | |
| Prepayments | |
| 373,905 | |
| Property, plant and equipment, net | |
| 525,791 | |
| Right-of-use assets | |
| 6,371,979 | |
| Intangible assets | |
| 30,960,827 | |
| Non-current financial assets at fair value through profit or loss | |
| 40,654 | |
| Non-current financial assets at fair value through other comprehensive income | |
| 118,400 | |
| Deferred tax assets | |
| 403,458 | |
| Other non-current assets | |
| 729,435 | |
| Short-term borrowings | |
| (3,239,093 | ) |
| Contract liabilities | |
| (367,500 | ) |
| Accounts payable | |
| (915,805 | ) |
| Income tax payable | |
| (10,207 | ) |
| Other payables | |
| (697,286 | ) |
| Other current liabilities | |
| (742,761 | ) |
| Bonds payable | |
| (469,476 | ) |
| Long-term borrowings | |
| (210,333 | ) |
| Lease liabilities | |
| (6,098,825 | ) |
| Deferred tax liabilities | |
| (10,500,374 | ) |
| Provision | |
| (667,522 | ) |
| Other non-current liabilities | |
| (842,610 | ) |
| Fair value of identifiable net assets | |
$ | 19,559,558 | |
The goodwill recognized by the Group as a result of the acquisition
is as follows:
| | |
May 25, 2023 | |
| | |
| |
| Transfer considerations | |
$ | 70,629,011 | |
| Less: Fair value of identifiable net assets | |
| (19,559,558 | ) |
| Goodwill | |
$ | 51,069,453 | |
The total consideration transferred for
the acquisition of Dragon Marketing by the Group is as follows:
| |
|
September 1,
2024 |
|
| |
|
|
|
| Purchase consideration |
|
|
|
|
| Equity instruments (27,934 ordinary shares of the Company) |
|
$ |
4,625,055 |
|
The following table summarizes the recognized amounts of assets acquired and liabilities assumed at the
acquisition date:
| | |
September 1,
2024 | |
| | |
| |
| Cash and cash equivalents | |
$ | 1,552,346 | |
| Contract Assets | |
| 61,278 | |
| Accounts receivables | |
| 78,816 | |
| Other receivables | |
| 643,607 | |
| Prepayments | |
| 303,398 | |
| Investment Properties | |
| 2,437,957 | |
| Intangibles assets | |
| 474,852 | |
| Contract liabilities | |
| (45,762 | ) |
| Other payables | |
| (98,791 | ) |
| Other current liabilities | |
| (2,355,122 | ) |
| Long-term borrowings | |
| (269,437 | ) |
| Deferred tax liabilities | |
| (101,812 | ) |
| Other non-current liabilities | |
| (125 | ) |
| Fair value of identifiable net assets | |
$ | 2,681,205 | |
The goodwill recognized by the Group as a result of the acquisition is as follows:
| | |
September 1,
2024 | |
| | |
| |
| Transfer considerations | |
$ | 4,625,055 | |
| Less: Fair value of identifiable net assets | |
| (2,681,205 | ) |
| Goodwill | |
$ | 1,943,850 | |
|