v3.26.1
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss
6 Months Ended
Jun. 30, 2026
HKD ($)
$ / shares
shares
Jun. 30, 2026
USD ($)
$ / shares
shares
Jun. 30, 2025
HKD ($)
$ / shares
shares
Revenue $ 11,999,533 $ 1,530,162 $ 15,069,401
Cost of revenue 3,172,842 404,596 9,712,918
Gross profit 8,826,691 1,125,566 5,356,483
Operating expenses      
Selling and marketing expense 2,549,046 325,050 3,206,886
Research and development expense 0 0 20,911
General and administrative expense 32,320,418 4,121,451 16,198,821
Total operating expenses 34,869,464 4,446,501 19,426,618
Loss from operations (26,042,773) (3,320,935) (14,070,135)
Investment gain (losses), net      
Option premium income 8,139,300 1,037,911 0
Realized gain on disposal of digital assets 214,867 27,400 0
Investment income from stable coins and digital assets 5,188,573 661,639 0
Change in fair value of derivative liabilities 2,158,422 275,239 0
Change in fair value of stable coins, digital assets and digital assets – restricted (2,124,820,727) (270,953,931) 0
Change in fair value of marketable securities 1,616,700 206,159 0
Others (92,802) (11,834) 0
Total investment gain (losses), net (2,107,595,667) (268,757,417) 0
Other income      
Other income , net 1,407,185 179,442 5,520
Interest income, net 3,270,428 417,040 157,295
Total other income, net 4,677,613 596,482 162,815
Loss before income taxes (2,128,960,827) (271,481,870) (13,907,320)
Income tax (benefit) expense 9,292 1,185 (211,956)
Net loss (2,128,970,119) (271,483,055) (13,695,364)
Other comprehensive loss      
Foreign currency translation adjustment 658,128 83,922 12,789
Comprehensive loss $ (2,128,311,991) $ (271,399,133) $ (13,682,575)
Weighted average ordinary shares outstanding - basic (in shares) 50,176,485 50,176,485 1,656,459
Weighted average ordinary shares outstanding - diluted (in shares) [1] 50,176,485 50,176,485 1,656,459
Class A      
Other comprehensive loss      
Weighted average ordinary shares outstanding - basic (in shares) 49,045,623 49,045,623 525,597
Weighted average ordinary shares outstanding - diluted (in shares) 49,045,623 49,045,623 525,597
Loss per ordinary share - basic (in HK$ per share or USD per share) | (per share) $ (42.43) $ (5.41) $ (8.27)
Loss per ordinary share - diluted (in HK$ per share or USD per share) | (per share) [1] $ (42.43) $ (5.41) $ (8.27)
Class B      
Other comprehensive loss      
Weighted average ordinary shares outstanding - basic (in shares) 1,130,862 1,130,862 1,130,862
Weighted average ordinary shares outstanding - diluted (in shares) 1,130,862 1,130,862 1,130,862
Loss per ordinary share - basic (in HK$ per share or USD per share) | (per share) $ (42.43) $ (5.41) $ (8.27)
Loss per ordinary share - diluted (in HK$ per share or USD per share) | (per share) [1] $ (42.43) $ (5.41) $ (8.27)
[1] Giving retroactive effect to the 8 to 1 share consolidation effected on July 10, 2025. See Note 18 for additional information.