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Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2024
HKD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
HKD ($)
Dec. 31, 2022
HKD ($)
Cash flows from operating activities        
Net income $ 8,063,331 $ 1,038,059 $ 4,414,733 $ 12,400,516
Adjustments to reconcile net income to net cash (used in) provided by operating activities        
Depreciation of property and equipment 685,245 88,217 33,091 11,114
Amortization of intangible assets 1,481,738 190,756 112,049 137,358
Inventory provision 23,585 3,036 68,536
Provision for expected credit loss 1,253,368 161,356 1,383,316
Deferred tax expense 713,336 91,833 7,876
Changes in operating assets and liabilities        
Accounts receivable (3,079,437) (396,441) (23,387,722) 19,369,617
Prepayment and other current assets (12,940,934) (1,665,992) (14,332,426) (3,796,835)
Tax recoverable (994,950) (128,088)
Inventories 1,679,793 216,254 (4,088,840) (619,878)
Accounts payable (10,429,941) (74,184,359)
Accruals and other payables 4,087,119 526,168 1,173,924 921,015
Tax payable (543,951) (70,027) (3,969,112) 3,001,914
Cash (used in) generated from operating activities 428,243 55,131 (49,014,516) (42,759,538)
Cash flows from investing activities        
Purchase of property and equipment (4,143,968) (533,487) (1,275,847) (73,526)
Purchase of intangible assets (15,023,180) (1,934,058)
Cash used in investing activities (19,167,148) (2,467,545) (1,275,847) (73,526)
Cash flows from financing activities        
Proceeds from bank borrowings 222,497,624 28,643,951 115,018,274 508,716,999
Repayment for bank borrowings (226,145,302) (29,113,547) (168,602,359) (452,377,168)
Proceeds from initial public offerings 65,641,784 8,450,608
Repayment to related parties (40,102,988) (5,162,788) (6,341,947)
Repayment from related parties 16,272,733
Advance from related parties 84,857,958
Cash generated from financing activities 21,891,118 2,818,224 47,546,606 49,997,884
Net increase (decrease) in cash and cash equivalents 3,152,213 405,810 (2,743,757) 7,164,820
Effect of foreign currency translation on cash and cash equivalents 164,501 21,178
Cash and cash equivalents at the beginning of the year 5,849,306 753,029 8,593,063 1,428,243
Cash and cash equivalents at the end of the year 9,166,020 1,180,017 5,849,306 8,593,063
Supplementary cash flow information        
Interest received 31,954 4,114 92,951 1
Interest paid (3,314,316) (426,679) (6,134,748) (6,102,137)
Tax paid (1,887,737) (243,024) (3,314,625) (21,996)
Non-cash investing and financing activities: Supplemental schedule of non-cash investing and financing activities:        
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 21,089,828 $ 2,715,067 $ 23,153,141 $ 1,406,891