| LEASES |
16. LEASES As of December 31, 2025 and June 30, 2026, the Group had operating leases recorded on its condensed consolidated balance sheets for certain office spaces and laboratory equipment that expire on various dates through 2029. 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, 2025 and June 30, 2026 is as follows: | | | | | | | | As of December 31, | | As of June 30, | | | | 2025 | | 2026 | | | | US$ | | US$ | | Assets | | | | | | Operating lease right-of-use assets | | 145,535 | | 390,535 | | Liabilities | | | | | | Current portion of operating lease liabilities | | 92,055 | | 181,733 | | Operating lease liabilities | | 53,480 | | 183,189 | | Weighted average remaining lease term (years) | | 1.5 | | 2.4 | | Weighted average discount rate | | 3.9 | % | 3.1 | % |
Information related to operating lease activity during the six months ended June 30, 2025 and 2026 is as follows: | | | | | | | For the Six Months Ended June 30, | | | 2025 | | 2026 | | | US$ | | US$ | Operating lease rental expense | | | | | Amortization of right-of-use assets | | 70,021 | | 80,997 | Expense for short-term leases within 12 months | | 27,275 | | 28,427 | Interest of lease liabilities | | 5,012 | | 3,848 | | | 102,308 | | 113,272 |
Maturities of lease liabilities were as follows: | | | | | | | As of December 31, | | As of June 30, | | | 2025 | | 2026 | | | US$ | | US$ | Remainder of 2026 | | 95,863 | | 79,144 | 2027 | | 54,322 | | 167,557 | 2028 | | — | | 111,497 | 2029 | | — | | 19,786 | Total undiscounted lease payments | | 150,185 | | 377,984 | Less: imputed interest | | (4,650) | | (13,062) | Total lease liabilities | | 145,535 | | 364,922 |
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