v3.25.2
Accrued expenses and other payables (Tables)
6 Months Ended
Jun. 30, 2025
Accrued expenses and other payables  
Summary of accrued expenses and other payables

The Company’s accrued expenses and other payables 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

Accrued expenses

$

17,968

$

19,653

Warranty reserves (1)

39,676

35,337

Dividends payable to common shareholders

1,773

Dividends payable to holders of non-controlling interests

419

417

Other payables

1,939

2,058

Balance at end of year/period

$

60,002

$

59,238

(1)The Company provides for the estimated cost of product warranties when the products are sold. Such estimates of product warranties are based on, among other things, historical experience, product changes, material expenses, services and transportation expenses arising from the manufactured products. Estimates will be adjusted on the basis of actual claims and circumstances.
Summary of product warranty liability

For the three and six months ended June 30, 2025 and 2024, the warranties activities were as follows (figures are in thousands of USD):

Three Months Ended June 30,

Six months Ended June 30,

    

2025

    

2024

    

2025

    

2024

Balance at beginning of the period

$

37,357

$

31,665

$

35,337

$

30,440

Additions during the period

 

4,828

 

4,996

 

9,278

 

8,859

Settlement within the period

 

(2,621)

 

(3,606)

 

(5,101)

 

(6,193)

Foreign currency translation gain

 

112

 

(145)

 

162

 

(196)

Balance at end of the period

$

39,676

$

32,910

$

39,676

$

32,910