9.
Non-current financial assets at fair value through other comprehensive income
Schedule of non-current financial assets at fair value
| | |
As
of | | |
As
of | |
| | |
June
30, 2026 | | |
December
31, 2025 | |
| YMA DG (Note a)) | |
$ | - | | |
$ | - | |
| Forwell (Note a)) | |
| - | | |
| - | |
| Cycle Services Loire (Note
b)) | |
| - | | |
| - | |
| Non-current
financial assets | |
$ | - | | |
$ | - | |
| a) | The
Company holds 19.5% of the equity interest in YMA DG and Forwell, both of which are manufacturers
of bicycles parts in the PRC, and in which the Company does not have a controlling interest
or significant influence. The investment is recorded at fair value through other comprehensive
income. During the year ended December 31, 2025, management decided and switched to a new
operating strategy and expected that the investments in both YMA DG and Forwell are no longer
recoverable, the Company has written off these investments to condensed consolidated statements
of comprehensive (loss) income during the year ended December 31, 2025. |
| | |
| b) | Cycle
Services Loire has been fully written off in prior year since no operations. |
|