We are exposed to credit risk, liquidity risk and foreign currency risk in the ordinary course of our business. For more information about financial and market risks that we are exposed to, see Note 31 to our audited consolidated financial statements included elsewhere in this annual report. Credit Risk Credit risk refers to the risk of financial loss to us if a customer or counterparty to a financial instrument fails to meet its contractual obligations. Our credit risk arises principally from our trade receivables and other financial assets. The carrying amounts of financial assets represent our maximum exposure to credit risk. Our exposure to credit risk arising from cash and cash equivalents is limited because the counterparties are banks and financial institutions with good credit rating for which we consider to have low credit risk. Our exposure to credit risk arising from trade receivables is influenced mainly by the individual characteristics of each counterparty. As of December 31, 2025, 37% and 81% of the total trade receivables were due from our largest counterparty and our five largest counterparties, respectively. We limit our credit risk arising from trade receivables by performing individual credit evaluations on all customers requiring credit over a certain amount, which take into account the customer’s past payment history, financial position and other factors. Liquidity Risk We manage our liquidity risk by regularly monitoring our liquidity requirements to ensure that we maintain sufficient reserves of cash to meet our liquidity requirements in the short and longer term. Foreign Currency Risk We are exposed to foreign currency risk primarily from transactions denominated in currencies other than the functional currencies of our subsidiaries. The functional currencies of our subsidiaries are primarily the U.S. dollar (“USD”) and Hong Kong dollar (“HKD”). Foreign currency exposure arises when sales, purchases and receivables are denominated in currencies that differ from the functional currency of the respective Group entities. As HKD is pegged to USD, we consider the risk of movements in exchange rates between HKD and USD to be insignificant. We currently do not engage in hedging activities with respect to foreign currency transactions. Although our overall exposure to foreign exchange risk is limited, fluctuations in exchange rates may affect the reporting of our results of operations and financial position as our consolidated financial statements are presented in USD. 102 Table of Contents