v3.26.1
Prepaid Land Use Rights, Net
12 Months Ended
Dec. 31, 2025
Prepaid Land And Lease Payments [Abstract]  
Prepaid Land Use Rights, Net

9. Prepaid Land Use Rights, net

 

 

 

 

December 31,

 

 

 

 

2025

 

 

2024

 

 

Prepaid land use rights, net

 

$

77,567

 

 

$

74,040

 

 

Less: accumulated amortization

 

 

15,395

 

 

 

12,515

 

 

Net carrying value

 

$

62,172

 

 

$

61,525

 

As of December 31, 2025, prepaid land use right of Yihoo Biotech Co, Ltd with a net book value of $4,409 (2024 - $4,304) was pledged as collateral for a bank loan from China Construction Bank (note 13 (c)).

As of December 31, 2025, prepaid land use rights of Sinovac Biotech (Yidao) Co., Ltd. with a net book value of $18,594 (2024 - $18,654) were pledged as collateral for a bank loan from China Construction Bank (note 13 (c)).

 

Amortization expense for prepaid land use rights for the year ended December 31, 2025 was $2,261 (2024 - $2,257, 2023 - $2,288).