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Property and equipment, net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment, after Accumulated Depreciation, Depletion, and Amortization [Abstract]  
Property and equipment, net
6. Property and equipment, net

 

Property and equipment, net consisted of the following:

 

   As of
June 30,
2026		   As of
December 31,
2025		 
   In thousands of USD 
Buildings  $1,943   $7,451 
Furniture and equipment   581    844 
Motor vehicles   36    36 
Office improvements   1943    1,882 
Subtotal   4,503    10,213 
Less: accumulated depreciation   (2,375)   (3,170)
Property and equipment, net  $2,128   $7,043 

 

Depreciation expenses for the six months ended June 30, 2026 and 2025 amounted to approximately $0.20 million and $0.30 million, respectively.

 

During the six months ended June 30, 2026 the Company disposed of certain property, plant and equipment with a total cost of $5,964,918 and accumulated depreciation of $1,082,376, resulting in a net book value of $4,882,542. Net cash proceeds from these disposals were $2,077,945, and the Company recognized a loss on disposal of $2,804,597, which is included in other expense, net in the accompanying unaudited condensed consolidated statements of loss and comprehensive loss.

 

The Company did not recognize any impairment loss on property and equipment for the six months ended June 30, 2026 and year ended December 31, 2025.