Cash flows information (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Cash flows information |
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| Cash generated from operations |
| | | | | | | | | | | | | For the years ended December 31, | | | Note | | 2023 | | 2024 | | 2025 | Cash flows from operating activities | | | | | | | | | (Loss)/profit before income tax | | | | (13,536) | | (23,273) | | 1,253 | - from continuing operations | | | | (13,536) | | (23,273) | | 3,598 | - from discontinued operations | | 5.2, 5.3 | | — | | — | | (2,345) | | | | | | | | | | Adjustments for: | | | | | | | | | Depreciation of property, plant and equipment | | 24 | | 9 | | — | | 12 | Amortization of intangible assets | | 24 | | 548 | | 359 | | 733 | Amortization of right-of-use assets | | 24 | | 183 | | 20 | | 706 | Reversal of allowance for credit losses on accounts receivable | | 3.1(b)(ii) | | — | | — | | (1,431) | Share-based compensation expenses | | 24 | | — | | — | | 591 | Fair value changes on financial asset at fair value through profit or loss | | 26 | | (9) | | (7) | | (534) | Share of losses from an equity investee | | 10 | | — | | — | | 50 | Realized fair value changes on digital assets | | | | 315 | | 224 | | 187 | Unrealized fair value changes on digital assets | | | | 200 | | 7 | | 150 | Unrealized fair value changes on amount due to related parties denominated in digital assets | | | | 9,317 | | 18,007 | | 1,302 | Write off of other payables, net | | | | — | | — | | (677) | Interest expense | | 25 | | 145 | | 46 | | 71 | Interest income | | 25 | | — | | (150) | | (619) | (Gain)/loss on disposal of subsidiary | | | | — | | (5) | | 253 | Lease modification | | | | 42 | | — | | — | Net income received or settled in digital assets | | | | (1,169) | | (2,495) | | (36,749) | Changes in working capital: | | | | | | | | | Trade and other receivables | | | | 116 | | (143) | | 3,226 | Trade and other payables | | | | 220 | | 1,204 | | (5,067) | Contract liabilities | | | | — | | — | | 74 | Disposal of crypto assets held | | | | 15,083 | | 5,651 | | 11,582 | Cash generated from/(used in) operating activities | | | | 11,464 | | (555) | | (24,887) |
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| Reconciliation of net liabilities arising from financing activities |
| | | | | | | | | | | Amounts due | | | | | | | | | to related | | Lease | | Bank | | | | | parties | | liabilities | | borrowings | | Total | | | (Note 31) | | (Note 20) | | | | | At January 1, 2024 | | 26,875 | | — | | — | | 26,875 | Cash flows from financing activities | | 2,934 | | (11) | | — | | 2,923 | Non-cash transactions: | | | | | | | | | - Movement in digital assets | | 9,270 | | — | | — | | 9,270 | - Additions of leased assets | | — | | 724 | | — | | 724 | - Interest expense | | — | | 2 | | — | | 2 | - Waiver of related party balances | | (47,106) | | — | | — | | (47,106) | - Unrealized fair value loss | | 18,007 | | — | | — | | 18,007 | At December 31, 2024 | | 9,980 | | 715 | | — | | 10,695 | | | | | | | | | | Cash flows from financing activities | | 12,158 | | (796) | | 15 | | 11,377 | Non-cash transactions: | | | | | | | | | - Movement in digital assets | | 28,394 | | — | | — | | 28,394 | - Business combination – merger transaction (Note 5.1) | | — | | 1,678 | | 1,938 | | 3,616 | - Transfer to liabilities held for sale | | — | | (33) | | — | | (33) | - Disposal of discontinued operations | | — | | — | | (1,967) | | (1,967) | - Additions of leased assets | | — | | 133 | | — | | 133 | - Lease modification | | — | | (125) | | — | | (125) | - Interest expense | | — | | 57 | | 14 | | 71 | - Waiver of related party balances | | (948) | | — | | — | | (948) | - Unrealized fair value loss | | (1,553) | | — | | — | | (1,553) | - Foreign exchange | | — | | (40) | | — | | (40) | At December 31, 2025 | | 48,031 | | 1,589 | | — | | 49,620 |
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| Schedule of major non-cash transaction |
| | | | | | | | | For the years ended December 31, | | | 2023 | | 2024 | | 2025 | Issuance of ordinary shares for business combination (Note 5.1) | | — | | — | | 52,102 | Waiver of related party balances | | — | | 47,106 | | 948 |
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