v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash $ 1,059 $ 1,790
Restricted cash 315 298
Inventories 18,553 19,390
Deposits, prepayments and other receivables 3,949 3,819
Total current assets 36,521 41,276
Non-current assets:    
Property and equipment, net 2,129 2,404
Right-of-use assets, net 657 672
Deferred tax assets 837 128
Total non-current assets 4,897 4,499
TOTAL ASSETS 41,418 45,775
Current liabilities:    
Accounts payable and accrued liabilities 5,054 4,924
Customer deposits 5,647 5,445
Bank borrowings 17,686 19,175
Finance lease liabilities, current 70 88
Operating lease liabilities, current 176 334
Income tax payable 100 173
Total current liabilities 34,444 37,025
Long-term liabilities:    
Bank borrowings 1,241 3,103
Finance lease liabilities, non-current 140 188
Operating lease liabilities, non-current 508 384
Deferred tax liabilities 112 164
Total long-term liabilities 2,001 3,839
TOTAL LIABILITIES 36,445 40,864
Shareholders’ equity    
Preferred Shares, 25,000,000 authorized with par value of $0.0005 each, none issued or outstanding as of December 31, 2025 and 2024
Ordinary shares, 200,000,000 authorized comprise of 150,000,000 Class A and 25,000,000 Class B shares, with par value of $0.0005 each, 16,527,249 and 10,250,000 ordinary shares issued and outstanding as of December 31, 2025 and 2024, respectively 8 5
Additional paid-in capital 1,006 1,009
Accumulated other comprehensive loss (535) (994)
Retained earnings 4,494 4,891
Total shareholders’ equity 4,973 4,911
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 41,418 45,775
Third Parties [Member]    
Current assets:    
Accounts receivable 7,935 11,413
Related Party [Member]    
Current assets:    
Accounts receivable 2,630 3,140
Amounts due from related parties 2,080 1,426
Non-current assets:    
Amounts due from related parties 1,274 1,295
Current liabilities:    
Accounts payable - Related parties 244 9
Amounts due to related parties $ 5,467 $ 6,877