| Cash and restricted cash |
Cash and restricted cash A reconciliation of cash at bank and restricted cash in the consolidated balance sheets to the total amount in the consolidated statement of cash flows is as follows: | | | | | | | | | | | | | As of December 31, | | 2024 | | 2025 | | US$ | | US$ | | Cash at banks | 44,250 | | | 87,118 | | | Restricted cash | 5,914 | | | 6,138 | | | Cash and restricted cash shown in the consolidated statements of cash flows | 50,164 | | | 93,256 | |
As of December 31, 2024 and 2025, the Group’s restricted cash of US$5,805 and US$6,138 were pledged for notes payable, and US$109 and nil were restricted due to a dispute with a customer, respectively. Cash and restricted cash are amounts deposited with financial institutions at the locations noted below: | | | | | | | | | | | | | As of December 31, | | 2024 | | 2025 | | US$ | | US$ | | Financial institutions in the Chinese mainland | | | | | – Denominated in RMB | 29,736 | | | 78,546 | | | – Denominated in US$ | 11,979 | | | 2,134 | | | – Denominated in Great Britain Pound (“GBP”) | 12 | | | 6 | | –– Denominated in Hong Kong Dollar (“HKD”) | 2 | | | — | | | Total cash balances held in the Chinese mainland | 41,729 | | | 80,686 | | | Financial institutions in Sweden | | | | | – Denominated in Swedish Krona (“SEK”) | 5,191 | | | 3,429 | | | – Denominated in US$ | 29 | | | — | | –– Denominated in Euro | 2,272 | | | 6,735 | | | Total cash balances held in Sweden | 7,492 | | | 10,164 | | | Financial institutions in the United Kingdom | | | | | – Denominated in GBP | 665 | | | 1,118 | | | Total cash balances held in the United Kingdom | 665 | | | 1,118 | | | Total cash balances held at financial institutions in other jurisdictions | 278 | | | 1,288 | | | Total cash balances held at financial institutions | 50,164 | | | 93,256 | | Cash on hand | — | | — | | Total cash balances | 50,164 | | | 93,256 | |
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