ACCOUNTS RECEIVABLE |
5. ACCOUNTS RECEIVABLE Accounts receivable and the related allowance for credit losses were summarized as follows: | | | | | | | As of December 31, | | | 2022 | | 2023 | | | US$ | | US$ | | | | | | Accounts receivable | | 65,311 | | 38,243 | Allowance for credit losses | | (33,864) | | (15,991) | Accounts receivable, net | | 31,447 | | 22,252 |
The movements in the allowance for credit losses of accounts receivable were as follows: | | | | | | | | | Year Ended | | | December 31, | | | 2021 | | 2022 | | 2023 | | | US$ | | US$ | | US$ | Movement in allowance for credit losses | | | | | | | Balance at beginning of year | | 40,144 | | 52,831 | | 33,864 | Additional provision | | 41,350 | | 43,285 | | 1,183 | Write-offs | | (30,103) | | (56,276) | | (18,393) | Foreign currency translation adjustments | | 1,440 | | (5,976) | | (663) | Balance at end of year | | 52,831 | | 33,864 | | 15,991 |
Ageing analysis of accounts receivable based on the date of delivery of service to customers is as follows: | | | | | | | As of December 31, | | | 2022 | | 2023 | | | US$ | | US$ | - Within 3 months | | 21,464 | | 18,501 | - 3 months to 6 months | | 6,203 | | 4,233 | - 6 months to 12 months | | 9,554 | | 5,399 | - Over 1 year | | 28,090 | | 10,110 | Accounts receivable | | 65,311 | | 38,243 | Less: allowance for credit losses | | (33,864) | | (15,991) | Accounts receivable, net | | 31,447 | | 22,252 |
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