Accounts receivable consisted of the following: 

The movement of allowance of credit losses was as follows: 

The Group recorded a credit loss of $169 and a reversal of credit loss of $198, and wrote off accounts receivable of nil and $5 for the six months ended June 30, 2025 and 2026, respectively. As of August 31, 2026, approximately 26.0% of the Group’s net accounts receivable balance as of June 30, 2026 had subsequently been collected, and the remaining balance is expected to be collectible and is covered by commercial insurance purchased by the Group for accounts receivable arising from offline sales, providing coverage ranging from 80% to 90% for credit losses incurred within a maximum credit period of 180 days.

The majority of accounts receivable are expected to be recovered within six months. The aging of accounts receivable is calculated from the expiration date of the customer’s credit terms, which differs from the aging of accounts receivable based on the number of days past invoice date. The Group generally grants trade debtors a credit period of 180 days. If a customer’s accounts receivable have not yet aged beyond the credit period, the aging of such receivable will be classified as not overdue in the following table. An aging analysis of the Group’s accounts receivable, calculated from the expiration date of the customer’s credit terms, is as follows: