| Summary of property, plant and equipment, net |
The Company’s property, plant and equipment, net as of June 30, 2025 and December 31, 2024 are summarized as follows (figures are in thousands of USD): | | | | | | | | | June 30, 2025 | | December 31, 2024 | Costs: | | | | | | | Machinery and equipment | | $ | 249,053 | | $ | 241,471 | Buildings | | | 70,367 | | | 66,230 | Electronic equipment | | | 6,301 | | | 5,880 | Motor vehicles | | | 4,593 | | | 4,752 | Construction in progress | | | 19,672 | | | 14,783 | Gross balance of property, plant and equipment | | | 349,986 | | | 333,116 | Less: Accumulated depreciation (1) | | | (233,588) | | | (227,850) | Less: Impairment | | | (1,693) | | | (1,446) | Balance of property, plant and equipment, net (2) | | $ | 114,705 | | $ | 103,820 |
| (1) | Depreciation charges were $3.3 million and $4.3 million for the three months ended June 30, 2025 and 2024, respectively, and $7.5 million and $9.0 million for the six months ended June 30, 2025 and 2024, respectively. |
| (2) | As of June 30, 2025 and December 31, 2024, the Company pledged property, plant and equipment and land use rights with net book value of approximately $16.8 million and $31.4 million, respectively, as security for its comprehensive credit facilities with banks in China. |
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