v3.26.1
Fair Value and Fair Value Hierarchy of Financial Instruments
 12 Months Ended
Dec. 31, 2025
Fair Value and Fair Value Hierarchy of Financial Instruments [Abstract]  
FAIR VALUE AND FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS
35 FAIR VALUE AND FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS

 

The carrying amounts and fair values of the Company’s financial instruments, other than those with carrying amounts that reasonably approximate to fair value, are as follows:

 

   Carrying amount   Fair value 
   December 31,
2023		   December 31,
2024		   December 31,
2025		   December 31,
2023		   December 31,
2024		   December 31,
2025		 
   US$   US$   US$   US$   US$   US$ 
                         
Assets                        
Financial assets, at fair value through profit or loss   15,861    
-
    
-
    15,861    
-
    
-
 
Financial assets, at fair value through other comprehensive income   8,360,497    28,547,482    17,513,555    8,360,497    28,547,482    17,513,555 
                               
Liabilities                              
Convertible notes liabilities   -    -    2,930,281    -    -    2,930,281 
Warrant liabilities   428,025    33,305    2,625,440    428,025    33,305    2,625,440 

 

Management has assessed that the fair value of financial assets measured at fair value through other comprehensive income approximate to their carrying amounts largely due to the independent valuation performed and valuation technique that take into account key inputs such as P/E multiples, long-term growth rate and discount rate etc.

 

At each reporting date, management analyses the movements in the values of financial instruments and determines the major inputs applied in the valuation.

 

The valuation procedures applied include consideration of recent transactions in the same security or financial instrument, recent financing of the investee companies, economic and market conditions, current and projected financial performance of the investee companies, and the investee companies’ management team as well as potential future strategies to realize the investments.

 

Management believes that the estimated fair values resulting from the valuation technique, which are recorded in the consolidated statements of financial position, and the related changes in fair values, which are recorded in profit or loss and other comprehensive income, are reasonable, and that they were the most appropriate values at the end of the reporting periods.

Fair value hierarchy

 

The following tables illustrate the fair value measurement hierarchy of the Company’s financial instruments:

 

Assets measured at fair value:

 

   Fair value measurement using 
   Quoted
prices in
active
markets
(Level 1)		   Significant
observable
inputs
(Level 2)		   Significant
unobservable
inputs
(Level 3)		   Total 
   US$   US$   US$   US$ 
December 31, 2024                
Financial assets, at fair value through profit or loss   
-
    
-
    
-
    
-
 
Financial assets, at fair value through other comprehensive income   903,000    
-
    27,644,482    28,547,482 
Financial liabilities, at fair value through profit or loss   
-
    33,305    
-
    33,305 
                     
December 31, 2025                    
Financial assets, at fair value through other comprehensive income   
-
    
-
    17,513,555    17,513,555 
Financial liabilities, at fair value through profit or loss   
-
    5,555,721    
-
    5,555,721 

 

The movement in the fair value measurements within Level 1 during the years are as follow:

 

   December 31,
2023		   December 31,
2024		   December 31,
2025		 
   US$   US$   US$ 
             
Financial assets, at fair value through other comprehensive income            
At January 1   2,793,399    8    903,000 
Additions   80,615    903,000    3,904,416 
Disposals   (3,026,906)   (8)   (5,116,938)
Disposal of controlling subsidiaries   
-
    
-
    (99,478)
Fair value changes recognized in other comprehensive income/(loss)   152,900    
-
    409,000 
Currency realignment   
-
    
-
    
-
 
At December 31   8    903,000    
-
 

 

During the year, YY Group Holding Limited was successfully listed on Nasdaq, resulting in the fair value measurement moving from Level 3 to Level 1. The investment was subsequently disposed of within the same year. 

 

There were no transfers between Level 1 and Level 2 during the financial year ended December 31, 2023, 2024 and 2025.

The movement in fair value measurements within Level 3 during the years are as follow:

 

   December 31,
2023		   December 31,
2024		   December 31,
2025		 
   US$   US$   US$ 
Financial assets, at fair value through other comprehensive income            
At January 1   
-
    8,360,489    27,644,482 
Addition   10,921,564    46,595,266    41,749,956 
Disposal   (2,948,518)   (17,301,634)   
-
 
Transfer to level 1   
 
    (903,000)   (1,688,000)
Disposal of controlling subsidiaries   
-
    
-
    (17,716,438)
Fair value changes recognized in other comprehensive income   365,388    (9,009,166)   (32,476,445)
Currency realignment          22,055    (97,473)   
-
 
At December 31   8,360,489    27,644,482    17,513,555 

 

There were no transfers between Level 2 and Level 3 during the financial year ended December 31, 2025 and 2024.

 

   December 31,
2023		   December 31,
2024		   December 31,
2025		 
   US$   US$   US$ 
             
Financial liabilities, at fair value through profit and loss            
At January 1   
-
    439,409    33,305 
Addition   1,341,999    3,916,074    5,555,721 
Disposal   (913,974)   (4,310,794)   (33,305)
Currency realignment   11,384    (11,384)   
-
 
At December 31   439,409    33,305    5,555,721