Long-Term Investments |
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| Schedule of Long-Term Investments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term Investments | Note 9 — Long-term investments
On December 30, 2024, the Company acquired a 22.5% equity interest in Corpotech Holdings Limited (“Corpotech”), which owns a data center in Tsing Yi, Hong Kong, for US$2.25 million. The investment is accounted for under the equity method. Movements in the carrying amount were as follows:
As of June 30, 2026, the Company assessed the investment for impairment. The fair value of its 22.5% interest was estimated using a discounted cash flow method (Level 3). The significant unobservable inputs were a discount rate of 10.9% and a long-term growth rate of 3.0%. As the fair value was below the carrying amount and the decline was considered other than temporary, an impairment loss of HKD2,992,995 (US$381,662) was recognized. Impairment charges were recorded in “equity in loss of unconsolidated investees” in the consolidated statements of operations.
Summarized financial information of Corpotech is as follows:
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