4. Accounts Receivable Accounts receivable from contracts with customers consisted of the following: | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | | | | (in US$’000) | Accounts receivable—third parties | | 117,206 | | 126,529 | Accounts receivable—related parties (Note 17(ii)) | | 350 | | 224 | Allowance for credit losses | | — | | (3) | Accounts receivable, net | | 117,556 | | 126,750 |
Substantially all accounts receivable are denominated in RMB, US$ and HK$ and are due within one year from the end of the reporting periods. The carrying values of accounts receivable approximate their fair values due to their short-term maturities. An aging analysis for accounts receivable—third parties based on the relevant invoice dates is as follows: | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | | | | (in US$’000) | Not later than 3 months | | 105,808 | | 110,416 | Between 3 months to 6 months | | 6,574 | | 8,764 | Between 6 months to 1 year | | 3,569 | | 5,948 | Later than 1 year | | 1,255 | | 1,401 | Accounts receivable—third parties | | 117,206 | | 126,529 |
Movements on the allowance for credit losses: | | | | | | | 2026 | | 2025 | | | | (in US$’000) | As at January 1 | | 3 | | 70 | Increase in allowance for credit losses | | — | | 42 | Decrease in allowance due to subsequent collection | | (3) | | (68) | Exchange difference | | — | | 1 | As at June 30 | | — | | 45 |
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