| LEASES |
15. LEASES As of December 31, 2024 and 2025, the Group has operating leases recorded on its consolidated balance sheets for certain office spaces that expire on various dates through 2027. The Group does not plan to cancel the existing lease agreements for its existing office spaces prior to their respective expiration dates. The Group’s lease arrangements have no renewal options, rent escalation clauses, restrictions or contingent rents and are all executed with third parties. All of the Group’s leases qualify as operating leases. Information related to operating leases as of December 31, 2024 and 2025 is as follows: | | | | | | | | As of December 31, | | | | 2024 | | 2025 | | | | US$ | | US$ | | Assets | | | | | | Operating lease right-of-use assets | | 283,645 | | 145,535 | | Liabilities | | | | | | Current portion of operating lease liabilities | | 141,341 | | 92,055 | | Operating lease liabilities | | 142,304 | | 53,480 | | Weighted average remaining lease term (years) | | 2.2 | | 1.5 | | Weighted average discount rate | | 3.9 | % | 3.9 | % |
Information related to operating lease activity during the years ended December 31, 2023, 2024 and 2025 is as follows: | | | | | | | | | For the Year Ended December 31, | | | 2023 | | 2024 | | 2025 | | | US$ | | US$ | | US$ | Operating lease rental expense | | | | | | | Amortization of right-of-use assets | | 216,305 | | 203,298 | | 142,238 | Expense for short-term leases within 12 months | | 13,514 | | 23,734 | | 53,661 | Interest of lease liabilities | | 12,100 | | 12,613 | | 8,689 | | | 241,919 | | 239,645 | | 204,588 |
Maturities of lease liabilities were as follows: | | | | | | | As of December 31, | | | 2024 | | 2025 | 2025 | | 149,975 | | — | 2026 | | 93,734 | | 95,863 | 2027 | | 53,116 | | 54,322 | Total undiscounted lease payments | | 296,825 | | 150,185 | Less: imputed interest | | (13,180) | | (4,650) | Total lease liabilities | | 283,645 | | 145,535 |
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