Land Use Rights, Net

12 Months Ended

May 31, 2026

7.	LAND USE RIGHTS, NET

Land use rights, net, consisted of the following:


	As of May 31,
	2025			2026
	US$			US$
Land use rights		55,823			59,354
Less: accumulated amortization		(975	)		(2,112	)
Exchange differences		52			(51	)

Land use rights, net		54,900			57,191

The Group obtained a land use right from the authorities during the year of 2025. The carrying amount of the land use right is US$50,774, and is amortized on a straight-line basis over the land use rights period, which is approximately 50 years.

Amortization expenses for land use rights for the years ended May 31, 2024, 2025 and 2026 were US$81, US$336 and US$1,137, respectively. The Group expects to recognize US$1,136 in amortization expense for each of the next five years and US$50,249 thereafter.