Operating leases

The Group’s leases consist of operating leases for corporate offices, data centers, and other facilities. The Group determines if an arrangement is a lease at inception. Some lease agreements contain lease and non-lease components, which the Group choose to account for as separate components. The allocation of the consideration between the lease and the non-lease components is based on the relative stand-alone prices of lease components included in the lease contracts. As of December 31, 2025, the Group had no long-term leases that were classified as a financing lease. As of December 31, 2025, the operating leases that have not yet commenced is immaterial. The arrangements of remaining lease terms are one year to four years. Total lease expenses for the year ended December 31, 2024 and 2025 was US$5,688,809 and US$7,143,341, which were recorded in occupancy, depreciation and amortization on the consolidated statements of comprehensive income. The Group classifies operating lease payments as cash outflows for operating activities in the statement of cash flows. The Group presents the reduction in the carrying amount of the right-of-use assets and the change in operating lease liabilities as two adjustments to net income and changes in net assets in the reconciliation of net income to net cash flows from operating activities.