Related Party Balance and Transactions |
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| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Balance and Transactions | Related Party Balance and Transactions a.Due to a related party As of December 31, 2024 and 2025, the ending balance of amount due to a related party were as follows:
(1)Gaderway Investments Limited, the former shareholder of the Company. The balance represented the amount advance to the Company. These amounts were unsecured, interest-free and repayable on demand. On May 20, 2025, the Company settled the entire advance balance. (2)Fire Lucky Investment Co., Ltd, the shareholder of the Company. During the year ended December 31, 2025, Fire Lucky provided a loan of USD1,000,000 to the Company with an annual interest rate of 5%. This loan was fully repaid by the Company in December 2025. b.Personal guarantees from related parties for bank loans Tai Wai (Stephen) Lam and Chi Weng Tam, the former executives and directors of the Company, as well as the shareholders of Gaderway Investments Limited, have jointly or severally provided personal guarantees for several bank loans of the Company. For details, please refer to Note 13. c.Operating lease liability – related party The Company entered into a lease arrangement as a lessee for its new office facility in Hong Kong with a related party. The Company accounts for the lease under ASC 842. The lease was classified as an operating lease and the respective lease liability was recorded under operating lease liabilities – related party, current and operating lease liabilities – related party, non-current (see Note 11).
(1)Trend Up Investment (HK) Limited is wholly owned by Mr. Dawei Yuan, the Chief Executive Officer and Executive Director of the Company since November 25, 2025. Mr. Yuan is also a sole director of Trend Up Investment (HK) Limited. d.Related Party Transactions The following is a list of related parties which the Company had transactions with: a.PrimeTime Global Technologies Limited, indirectly controlled by Gaderway Investments Limited, the former shareholder of the Company. b.Fire Lucky Investment Co., Ltd, the shareholder of the Company. Mr. Dawei Yuan, a director of Fire Lucky is also the Chief Executive Officer and Executive Director of the Company since November 25, 2025. c.Trend Up Investment (HK) Limited is wholly owned by Mr. Dawei Yuan, the Chief Executive Officer and Executive Director of the Company since November 25, 2025. Mr. Yuan is also a sole director of Trend Up Investment (HK) Limited. For the years ended December 31, 2023, 2024 and 2025, the related party transactions were as follows:
During the years ended December 31, 2023, the Company declared dividends to its shareholders. No dividend was declared in the year ended December 31, 2024 and 2025. For details, please refer to Note 16. Shareholders’ Equity. Notes: 1The Company charged PrimeTime Global Technologies Limited a subscription fee when it used the subscription services of the Company. The subscription income was recorded as revenue. 2The Company charged PrimeTime Global Technologies Limited for sales commission from business referred by the Company. The Company will charge a commission fee at an agreed upon percentage from the sales amount referred by the Company to PrimeTime Global Technologies Limited. The sales commission was recorded as commission income in the other income. 3The Company entered into an unsecured term loan agreement with Fire Lucky Investment Co., Ltd. (the “Loan Agreement”) on August 26, 2025, pursuant to which Fire Lucky Investment Co., Ltd agreed to lend the Company US$1,000,000 (the “Financing”). The Financing bears interest at the rate of 5% per annum, payable upon maturity of the Financing. The principal and interest of the Financing were repaid on December 29, 2025. 4CAT entered into a two-year operating lease agreement for the occupancy of an office space with Trend Up Investment (HK) Limited that is wholly owned by the Chief Executive Officer and Executive Director of the Company.
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