v3.26.3
DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
SCHEDULE OF DISCONTINUED OPERATIONS OF INCOME STATEMENT

The results of discontinued operations for the period from January 1, 2026 through March 20, 2026 and the six months ended June 30, 2025 consisted of:

 

  

For the Period

Ended

  

For the Six

Months Ended

 
   March 20, 2026   June 30, 2025 
    US$’000   US$’000 
   (Unaudited)   (Unaudited) 
Revenues  $432   $599 
Less: Cost of revenues   (420)   (7,760)
Gross profit (loss)   12    (7,161)
Total operating expenses   1,992    59,065 
Loss from discontinued operations   (1,980)   (66,226)
Total other (loss) income, net   (3,631)   6,834 
Loss from discontinued operations before income taxes   (5,611)   (59,392)
Income tax expenses from operations   -    - 
Net loss from discontinued operations  $(5,611)  $(59,392)
SCHEDULE OF ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONS

Assets and liabilities of discontinued operations as of March 20, 2026 and December 31, 2025 consisted of:

 

   March 20,
2026		  

December 31,

2025

 
   US$’000   US$’000 
   (Unaudited)     
Cash and cash equivalents  $566   $799 
Restricted cash   141    139 
Accounts and notes receivable, net   1,030    584 
Accounts and notes receivable from related parties, net   92    92 
Inventory, net   4,437    4,713 
Amounts due from related parties   30,853    32,087 
Other current assets   49,789    49,511 
Other current assets from related parties   35    34 
Current assets held for sale   35,365    34,821 
Property, plant and equipment, net   122,730    120,843 
Intangible assets, net   131,340    129,323 
Land-use-right, net   79,587    78,365 
Long-term investments   3,537    3,483 
Goodwill   2,779    2,736 
Other assets   3,300    3,249 
Total assets of discontinued operations   465,581    460,779 
           
Accounts and notes payable   18,907    18,661 
Accounts and notes payable to related parties   46,011    45,304 
Loans attributable to related parties   281,627    277,302 
Contract liabilities   2,575    2,473 
Contract liabilities to related parties   936    922 
Long-term payables, current   100,875    99,326 
Accruals and other current liabilities   86,138    83,835 
Accruals and other current liabilities to related parties   118,912    113,081 
Accrued post-employment and termination benefits   63,574    64,366 
Other liabilities   3,929    3,832 
Total liabilities of discontinued operations   723,484    709,102 
           
Total net assets  $(257,903)  $(248,323)
           
Reconciliation to gain on disposal:          
Total cash consideration received  $-      
Noncontrolling interest derecognized on deconsolidation   3,777      
Accumulated other comprehensive income reclassified on disposal   (2,852)     
Less: Total net assets of the disposed group   (257,903)     
Gain on sale of discontinued operations, net of income tax  $258,828      
SCHEDULE OF CASH FLOW ATTRIBUTABLE TO DISCONTINUED OPERATIONS

Net cash flows attributable to discontinued operations were as follows:

 

  

For the Period

Ended

  

For the Six

Months Ended

 
   March 20, 2026   June 30, 2025 
   US$’000   US$’000 
   (Unaudited)   (Unaudited) 
Net cash provided by operating activities  $3,679   $3,300 
Net cash used in investing activities   (707)   (261)
Net cash used in financing activities   -    (1,789)
Net increase in cash and cash equivalents  $2,972   $1,250