v3.26.1
Unaudited Condensed Consolidated Statements of Cash Flows
 6 Months Ended
Jun. 30, 2026
HKD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
HKD ($)
Cash flows from operating activities:      
Net loss $ (2,128,970,119) $ (271,483,055) $ (13,695,364)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property and equipment 165,506 21,105 129,135
Amortization of intangible assets 11,654 1,486 3,055,900
Amortization of right-of-use assets and interest of lease liabilities 1,226,713 156,429 742,500
Recovery for credit losses (1,998) (255) (1,552)
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 marketable securities (1,616,700) (206,159) 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
Others 22,481 2,867 0
Deferred tax benefit (6,336) (808) (211,956)
Changes in operating assets and liabilities:      
Accounts receivable 136,127 17,359 751,009
Prepaid expenses 4,842,568 617,517 5,224,104
Deposits and other current assets 1,030,593 131,420 (219,040)
Accrued expenses and other payables (2,112,489) (269,382) (1,292,929)
Contract liabilities (7,188,025) (916,604) 3,628,989
Tax payable 15,628 1,993 0
Net cash used in operating activities (24,551,545) (3,130,774) (2,631,704)
Cash flows from investing activities:      
Purchase of property and equipment (139,677) (17,812) (31,020)
Costs to obtain and develop software (1,356) (173) (1,838,298)
Purchase of marketable securities (156,743,765) (19,987,728) 0
Net cash (used in) provided by investing activities 29,221,734 3,726,311 (1,869,318)
Cash flows from financing activities:      
Repayment of bank borrowings (1,130,893) (144,210) (1,988,392)
Repayment to a related party 0 0 (306,110)
Net cash used in financing activities (1,130,893) (144,210) (2,294,502)
Effect of exchange rate changes on cash and restricted cash 658,128 83,922 12,789
Net change in cash and restricted cash 4,197,424 535,249 (6,782,735)
Cash and restricted cash, beginning of period 223,408,053 28,488,658 21,999,787
Cash and restricted cash, end of period 227,605,477 29,023,907 15,217,052
Reconciliation of cash and restricted cash to the consolidated balance sheets      
Cash and cash equivalents 227,605,477 29,023,907 12,877,052
Restricted cash 0 0 2,340,000
Total cash and restricted cash 227,605,477   15,217,052
Supplemental disclosure information:      
Cash paid for income tax 0 0 0
Cash paid for interest 13,280 1,693 87,367
Stable coins      
Cash flows from investing activities:      
Proceeds from disposal of digital assets 186,107,312 23,732,123 0
Digital assets      
Cash flows from investing activities:      
Proceeds from disposal of digital assets 234,000,000 29,839,327 0
Acquisition of digital assets (234,000,780) (29,839,426) 0
Nonrelated Party      
Changes in operating assets and liabilities:      
Operating lease liabilities 0 0 (742,500)
Related party      
Changes in operating assets and liabilities:      
Operating lease liabilities $ (1,226,713) $ (156,429) $ 0