v3.25.1
LEASE
12 Months Ended
Dec. 31, 2023
LEASE  
LEASE

9.          LEASE

The right-of-use assets and the amortization were summarized as follows:

As of December 31, 

    

2022

    

2023

US$

US$

Right-of-use assets

36,026

34,309

Less: accumulated amortization

 

(4,932)

(5,366)

Less: accumulated impairment

(12,782)

Right-of-use assets

 

31,094

16,161

Impairment losses of nil, nil, and US$12,854 were recognized for the years ended December 31, 2021, 2022, and 2023, respectively.

A summary of supplemental information related to operating leases as of December 31, 2022 and 2023 is as follows:

As of December 31,

    

2022

    

2023

 

US$

 

US$

Operating lease right-of-use assets

 

1,835

1,000

Operating lease liabilities, current

 

1,228

748

Operating lease liabilities, non-current

 

664

347

Total operating lease liabilities

 

1,892

1,095

9.          LEASE (continued)

Operating lease expense was allocated to the following expense items:

 Year Ended December 31,

    

2022

    

2023

US$

US$

Cost of revenues

 

286

180

General and administrative expenses

 

727

717

Selling and marketing expenses

 

1,046

458

Total operating lease expenses

 

2,059

1,355

Short-term lease expenses

 

679

Total lease expenses

 

2,738

1,355

The weighted average remaining lease term excluding land use right as of December 31, 2023 was 1.59 years, and the weighted average discount rate of the operating leases was 6%. The cash paid for amounts included in the measurement of operating lease liabilities was US$2,647, US$1,686, and US$1,241 for the years ended December 31, 2021, 2022, and 2023, respectively.

Maturities of the lease liabilities as of December 31, 2023 were as follows:

For the Year Ended December 31

    

US$

2024

   

767

2025

 

313

2026 and thereafter

 

62

Total undiscounted lease payments

 

1,142

Less: imputed interest

 

(47)

Present value of lease liabilities balance

 

1,095

Amounts due within 12 months

 

748

Long-term lease liabilities

 

347

In addition, amortization expense related to land use rights amounted to US$910, US$874 and US$834 for the years ended December 31, 2021, 2022 and 2023, and were included in the consolidated statements of comprehensive income (loss).