v3.26.1
Finance Leases
 12 Months Ended
Dec. 31, 2025
Finance Leases [Abstract]  
FINANCE LEASES
13.FINANCE LEASES

 

The Group entered into finance leases with two banks for use of motor vehicles.

 

The Group’s finance lease right-of-use assets and lease liabilities recognized in the consolidated balances sheets consisted of the following:

 

   As of December 31, 
   2024   2025 
Finance lease right-of-use assets  $269,998   $297,524 
Amortization of finance lease right-of-use assets   (84,280)   (122,625)
Finance lease right-of-use assets, net  $185,718   $174,899 
           
Finance lease liabilities, current  $35,265    40,094 
Finance lease liabilities, non-current   92,197    61,502 
Total finance lease liabilities  $127,462   $101,596 
           
Weighted average remaining lease term (in years)   3.42    2.42 
Weighted average discount rate   3.13%   3.13%
Cash paid for finance leases   37,760    40,351 

 

For the years ended December 31, 2023, 2024 and 2025, the Group incurred finance lease expenses of US$24,312, US$26,379 and US$28,189, respectively.

 

The following is a schedule of future minimum payments under the current existing finance leases as of December 31, 2025:

 

For the years ending December 31,  Amount 
2026   42,589 
2027   42,589 
2028   20,271 
Total lease payments   105,449 
Imputed interest   (3,853)
Total  $101,596