v3.26.1
ACCOUNTS RECEIVABLE, NET
12 Months Ended
Dec. 31, 2025
Credit Loss [Abstract]  
ACCOUNTS RECEIVABLE, NET

3. ACCOUNTS RECEIVABLE, NET

 

Accounts receivable, net, consists of the following:

          
   December 31, 
   2024   2025 
   US$’000   US$’000 
Accounts receivable   7,842    11,051 
Allowance for credit loss   (150)   (362)
Accounts receivable, net   7,692    10,689 

 

The movements in the allowance for credit losses for the years ended December 31, 2024 and 2025 were as follows:

          
   December 31, 
   2024   2025 
   US$’000   US$’000 
Balance at beginning of the year   500    150 
Addition   132    280 
Reversal   (482)   (68)
Balance at end of the year   150    362 

 

The addition and reversal for credit losses on accounts receivable for the year ended December 31, 2023 amounted to US$499,688 and US$nil, respectively.

 

As of the end of each of the financial year, the ageing analysis of accounts receivable, net of allowance for credit loss, based on the invoice date is as follows:

          
   December 31, 
   2024   2025 
   US$’000   US$’000 
Within 30 days   4,693    3,673 
Between 31 and 60 days   1,672    3,481 
Between 61 and 90 days   690    1,267 
More than 90 days   637    2,268 
    7,692    10,689