BORROWINGS

6 Months Ended

Jun. 30, 2026

10.	BORROWINGS

Short-term borrowings consisted of the following:


		As of June 30,		As of December 31,
		2026		2025
		US$		US$
Short-term borrowings:
Borrowings from banks (i)		402,744		479,419
Borrowings from related parties (note 24(vi))		863,776		784,288
Total		1,266,520		1,263,707
Long-term borrowings:
Borrowings from bank (ii)		204,644		98,254

(i)During the six months ended June 30, 2026, the Group borrowed loans due within one year or less with aggregated principal amounts of US$356,782 from banks in Chinese mainland, bearing an interest rate of 2.20% to 3.75% per annum. The interests shall be repaid periodically or upon maturity.

(ii)During the six months ended June 30, 2026, the Group borrowed two-year loans with aggregated principal amounts of US$101,839, bearing an interest rate of 2.4% per annum from a bank in Chinese mainland. As of June 30, 2026, long-term restricted cash of US$105,419 was pledged for this borrowing. The interest shall be repaid quarterly.

(iii)The weighted average interest rate on short-term borrowings outstanding as of June 30, 2026 and December 31, 2025 was 3.92% and 4.65%, respectively.

As of June 30, 2026 and December 31, 2025, the Group had a total line of credit in the amount of US$387,614 and US$347,143, of which the unused portion was US$91,031 and US$82,091, respectively.

As of June 30, 2026 and December 31, 2025, certain of the Group’s borrowings were pledged with restricted cash of US$475,922 and US$387,185, respectively.