| Element List | Explanation |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The improvement in net operating revenue during the current period compared to the corresponding period of the previous year was primarily attributable to a SAR 20.53 million decrease in valuation losses on financial assets measured at fair value through profit or loss, in addition to a SAR 3.84 million increase in fund management fees, mainly driven by the commencement and management of new funds. Revenue from the subsidiary’s resource management services also increased by SAR 3.22 million, partly due to the inclusion of the subsidiary’s results for the full six-month period in the current period, compared to a shorter period included in the corresponding period of the previous year following its acquisition. In addition, operations management and custody fees increased by SAR 0.91 million. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The decrease in net loss attributable to the shareholders of the Parent Company during the current period compared to the corresponding period of the previous year was primarily attributable to a SAR 28.48 million improvement in net operating revenue, in addition to the non-recurrence of the SAR 12.60 million share-based compensation expense recognized in the comparative period. |
| Statement of the type of external auditor’s report | Conservation |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform with the current presentation of the condensed consolidated interim financial statements. |
| Additional Information | Basis for Qualified Conclusion As disclosed in Note 6 to the condensed consolidated interim financial statements, the carrying amount of the investment in Creative Future for Digital Brokerage amounted to SAR 10.9 million as at 31 December 2025. Our audit report on the consolidated financial statements for the year then ended included a qualified opinion in respect of the fair value measurement of this investment, as we were unable to obtain sufficient appropriate audit evidence to enable us to assess the reasonableness of the assumptions and inputs used by management in determining the fair value of the investment. During the period ended 30 June 2026, management reduced the carrying amount of the investment to nil. Based on the additional review evidence obtained, we no longer express a qualification in respect of the fair value of the investment as at 30 June 2026. However, we continue to express a qualification in respect of the carrying amount of the investment as at 31 December 2025 for the same reasons set out in our audit report on the Company’s financial statements for the year then ended. Accordingly, we were unable to determine whether any adjustments were necessary to the opening balances of the investment and equity as at 1 January 2026, or to determine the related impact on profit or loss for the six-month period ended 30 June 2026. As at 30 June 2026, the Group’s management reassessed its investment in Creative Future for Digital Brokerage with the assistance of an independent external valuer, whose report concluded that the estimated value of the Group’s interest in the investment amounted to approximately SAR 4.57 million. In assessing the investment, management considered all relevant information and circumstances available as at the measurement date, including the adverse conclusion expressed by the auditor of Creative Future for Digital Brokerage in its report for the period ended 30 June 2026. The adverse conclusion arose from the inappropriate use of the going concern basis in preparing its interim financial statements, in light of accumulated losses exceeding its share capital and the insufficiency of other supporting evidence regarding its ability to continue as a going concern. Accordingly, management adopted a prudent approach in determining the fair value of the investment and assessing its recoverability, taking into consideration all available information and evidence, including the outcome of the independent valuation. Based on this assessment, management concluded that the carrying amount of the investment should be fully written down to nil as at 30 June 2026, reflecting the conditions existing at the measurement date. The Group’s management believes that this assessment is limited to the relevant circumstances and information available as at 30 June 2026 and does not, in itself, represent a conclusion regarding any measurement made at an earlier date, as the investment was assessed at each reporting date based on the circumstances and information relevant to that date. |
