| Property and equipment, net |
Property and equipment, net Property and equipment, net, consisted of the following: | | | | | | | | | | | | | As of December 31, | | 2024 | | 2025 | | US$ | | US$ | | Machinery and electronic equipment | 39,512 | | | 50,915 | | | Transportation vehicles | 576 | | | 786 | | | Office and other equipment | 2,894 | | | 2,033 | | | Leasehold improvements | 7,456 | | | 8,922 | | | Construction in progress | 2,009 | | | 420 | | | Property and equipment | 52,447 | | | 63,076 | | | Less: accumulated depreciation | (29,194) | | | (35,063) | | | Less: impairment | (1,398) | | | (1,308) | | | Property and equipment, net | 21,855 | | | 26,705 | |
Depreciation on property and equipment was allocated as follows: | | | | | | | | | | | | | | | | | | | Year ended December 31, | | 2023 | | 2024 | | 2025 | | US$ | | US$ | | US$ | | Cost of revenues | 77 | | | 618 | | | 1,515 | | | Selling, general and administrative expenses | 4,222 | | | 2,581 | | | 2,273 | | | Research and development expenses | 3,317 | | | 4,681 | | | 3,878 | | | Total depreciation expenses | 7,616 | | | 7,880 | | | 7,666 | |
Impairment loss on obsolete and damaged equipment of property and equipment was allocated as follows:
| | | | | | | | | | | | | | | | | | | Year ended December 31, | | 2023 | | 2024 | | 2025 | | US$ | | US$ | | US$ | | Selling, general and administrative expenses | 64 | | | — | | | — | | | Research and development expenses | 965 | | | 144 | | | 119 | | | Total impairment loss | 1,029 | | | 144 | | | 119 | |
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