| Schedule of share capital and treasury shares |
| | | | | | | | | | | Number of | | | | Share | | Treasury | | | shares | | Share capital | | premium | | shares | Balance at January 1, 2024 | | 48,063,019 | | 1 | | 2,999 | | — | Issuance of Series A preference shares (Note (i)) | | — | | — | | 10,500 | | — | Balance at December 31, 2024 | | 48,063,019 | | 1 | | 13,499 | | — | Issuance of ordinary shares upon consummation of merger, net of issuance cost (Note (ii)) | | 411,112,330 | | 411 | | 51,723 | | (32) | Exercise of share options and vesting of restricted shares and RSUs (Note (iii)) | | — | | — | | (9) | | 9 | Repurchase of ordinary shares (Note (iv)) | | 2,583,511 | | — | | — | | (880) | Surrender of ordinary shares | | (3) | | — | | — | | — | Issuance of ordinary shares upon private placement, net of issuance cost (Note (v)) | | 12,200,915 | | 12 | | 25,327 | | — | Balance at December 31, 2025 | | 473,959,772 | | 424 | | 90,540 | | (903) |
Note: | (i) | On February 7, 2024, the Company issued 2,000 Series A preference shares with a cash consideration of US$10,000,000 for working capital. On April 15, 2024, the Company’s shareholder approved to amend the authorized share capital by re-designated 1,000 authorised but unissued ordinary shares be and are hereby re-designated as 1,000 Series A preference shares with par value of US$0.000025 each. After the re-designation, the authorised share capital of the Company is US$50,000 divided into (i) 1,999,997,000 ordinary shares, with par value of US$0.000025 each, and (ii) 3,000 Series A preference shares, with par value of US$0.000025 each. |
On May 6, 2024, the Company issued additional 100 Series A preference shares with a cash consideration of US$500,000. On November 29, 2024, the Company issued additional 120,000 ordinary shares and 6,300 Series A preference shares through bonus shares. All these new issued shares are bonus shares with no consideration. On March 12, 2025, the 8,400 issued Series A preference shares were re-designated as 8,400 ordinary shares with par value of US$0.000025 each. | (ii) | As discussed in Note 1.1 and 5.1 to the consolidated financial statements, the Company completed a merger transaction during the year ended December 31, 2025 with the issuance cost of US$510. |
| (iii) | During the year ended December 31, 2025, the Company transferred 822,070 Class A ordinary shares from the Treasury shares to the awardee for the exercise of share options/RSUs. |
| (iv) | On November 26, 2025, board of directors of the Company approved and authorized to repurchase up to US$50 million of ADSs over the next 12 months. The share repurchases may be made from time to time through legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. |
| (v) | On July 4, 2025, the Company closed a private placement with its fellow strategic investors aiming to amplify business growth in the crypto market globally. The Company issued 12,200,915 Class A ordinary shares at price of approximately US$2.09 per share and raised US$25.5 million, net of cost of US$161. |
|