v3.25.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of movements of product warranty reserve

Six Months Ended June 30,

    

2025

    

2024

US$

US$

Accrued warranty at the beginning of the period

 

24,048

7,022

Additions

 

5,244

8,790

Utilization

 

(6,034)

(1,541)

Foreign currency translation adjustment

 

1,315

(55)

Accrued warranty at the end of the period

 

24,573

14,216

Including:

– Current portion

 

4,207

2,259

– Non-current portion

 

20,366

11,957

Schedule of Concentration and Risk

    

As of

As of

 

June 30, 2025

    

December 31, 2024

 

proportion of total accounts receivable balance

Geely Group

62.82

%

37.72

%

    

Six Months Ended June 30, 

2025

    

2024

    

proportion of total costs and expenses

Geely Group

48.76

%

69.70

%

    

As of

As of

 

June 30, 2025

    

December 31, 2024

 

proportion of total payables balance

Geely Group

55.72

%

60.39

%