v3.26.3
Interim Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 644 $ 1,059
Restricted cash 314 315
Accounts receivable, net 11,703 10,565
Inventories 16,927 18,553
Deposits, prepayments and other receivables 9,280 3,949
Total current assets 41,271 36,521
Non-current assets:    
Property and equipment, net 1,970 2,129
Right-of-use assets, net 2,165 657
Deferred tax assets 934 837
Total non-current assets 6,281 4,897
TOTAL ASSETS 47,552 41,418
Current liabilities:    
Accounts payable and accrued liabilities 6,442 5,298
Customer deposits 10,469 5,647
Bank borrowings 17,578 17,686
Lease liabilities 1,070 246
Income tax payable 18 100
Total current liabilities 39,759 34,444
Long-term liabilities:    
Bank borrowings 1,151 1,241
Lease liabilities 1,386 648
Deferred tax liabilities 78 112
Total long-term liabilities 2,615 2,001
TOTAL LIABILITIES 42,374 36,445
Shareholders’ equity    
Preferred Shares, 25,000,000 authorized with par value of $0.0005 each, none issued or outstanding as of June 30, 2026 and December 31, 2025, respectively
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, 16,170,624 and 16,527,249 ordinary shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 8 8
Additional paid-in capital 1,006 1,006
Accumulated other comprehensive loss (604) (535)
Retained earnings 4,768 4,494
Total shareholders’ equity 5,178 4,973
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 47,552 41,418
Related Party [Member]    
Current assets:    
Amounts due from related parties 2,403 2,080
Non-current assets:    
Amount due from related parties 1,212 1,274
Current liabilities:    
Amounts due to related parties $ 4,182 $ 5,467