| Cash and cash equivalents |
| 5. |
Cash and cash equivalents |
| | |
December 31,
2024 | | |
December 31,
2023 | |
| Cash on hand | |
$ | 6,795 | | |
$ | 7,975 | |
| Checking accounts | |
| 61,475 | | |
| 44,742 | |
| Demand deposits | |
| 21,130,931 | | |
| 4,226,503 | |
| Time deposits | |
| 16,273,100 | | |
| 42,498,552 | |
| | |
| 37,472,301 | | |
| 46,777,772 | |
| Restricted deposits (Refer to clause b) below and Note 7) | |
| (15,773,099 | ) | |
| (41,470,915 | ) |
| | |
$ | 21,699,202 | | |
$ | 5,306,857 | |
| |
a) |
The Group transacts with a variety of financial institutions all with high credit quality to disperse credit risk, so it expects that the probability of counterparty default is remote. |
| | b) | As of December 31, 2024 and 2023, range of interest rate of time deposits
was 0.00%~18.00% and 0.00%~5.20%, respectively. Some of time deposits provided as guarantees and with maturity over three months were
reclassified as “restricted deposits - current” and “restricted deposits - non-current” based on its nature.
Details of the Group’s time deposits transferred to investments in debt instruments without active market are provided in Note
7. |
| |
c) |
Details of time deposits pledged to others as collaterals are provided in Note 38. |
|