v3.26.1
INCOME TAX EXPENSE (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSES (BENEFITS)

The income tax (benefits) expenses consist of the following components:

 

 

   2023   2024   2025   2025 
   For the years ended December 31, 
   2023   2024   2025   2025 
   HKD’000   HKD’000   HKD’000   US$’000 
Current tax   733    18    -    - 
Overprovision in prior years   -    (149)   -    - 
Deferred tax   (1,791)   (982)   3,087    397 
Total   (1,058)   (1,113)   3,087    397 
SCHEDULE OF RECONCILIATION OF PROVISION FOR INCOME TAXES

A reconciliation of the provision for income taxes determined at the Hong Kong statutory income tax rate to the Company’s effective income tax rate is as follows:

 

 

   2023   2024   2025   2025 
   For the years ended December 31, 
   2023   2024   2025   2025 
   HKD’000   HKD’000   HKD’000   US$’000 
Loss before income taxes   (7,072)   (6,636)   (36,266)   (4,662)
Tax at Hong Kong statutory tax rate of 16.5%   (1,167)   (1,095)   (5,984)   (769)
Reconciling items:                    
Effect of tax-exempt for the Company and its subsidiaries incorporated in Cayman Islands and British Virgin Islands   33    35    3,143    404 
Adjustments in respect of current tax of previous years   

-

    (149)   -    - 
Tax effect of Hong Kong concessionary tax rate   (165)   (12)   -    - 
Tax effect of temporary difference   (13)   -    -    - 
Change in valuation allowance   -    -    5,822    748 
Tax effect of non-taxable income   (39)   (98)   (44)   (6)
Tax effect of deductible expense   293    206    6    1 
Others   -    -    144    19 
Income tax (benefits) expense   (1,058)   (1,113)   3,087   397
SCHEDULE OF COMPONENTS OF DEFERRED TAX

Significant components of deferred tax were as follows:

 

  

Property and

equipment

   Allowance for expected credit losses   Net operating loss   Right-of-use assets    Lease liabilities   Total   Total 
   HKD’000   HKD’000   HKD’000   HKD’000    HKD’000   HKD’000   US$’000 
                             
As of January 1, 2023   314    -    -    -    -    314    39 
Recognized in statements of loss   (15)   1,806    -    -    -    1,791    231 
                                    
As of December 31, 2023   299    1,806    -    -    -    2,105    270 
Recognized in statements of loss   (112)   (236)   1,330    -    -    982    126 
                                    
As of December 31, 2024   187    1,570    1,330    -    -    3,087    396 
Recognized in statements of loss   (122)   311    2,546    166    (166)   2,735    351 
                                    
Less: Valuation allowance   (65)   (1,881)   (3,876)   (166)   166    (5,822)   (747)
                                    
As of December 31, 2025   -    -    -    -    -    -    -