| PROPERTY, EQUIPMENT AND SOFTWARE, NET |
6. | PROPERTY, EQUIPMENT AND SOFTWARE, NET |
Property, equipment and software, net, consisted of the following: | | | | | | | As of December 31, | | | 2025 | | 2024 | | | US$ | | US$ | Buildings and facilities | | 22,617 | | 8,354 | Machinery and R&D equipment | | 21,361 | | 30,010 | Molds and tooling | | 124,378 | | 140,689 | Motor vehicles | | 23,222 | | 43,980 | Office and electronic equipment | | 29,045 | | 28,412 | Purchased software | | 64,321 | | 73,342 | Leasehold improvements | | 31,201 | | 47,467 | Property, equipment and software | | 316,145 | | 372,254 | Less: Accumulated depreciation | | (156,686) | | (122,905) | Construction in progress (i) | | 67,432 | | 67,098 | Property, equipment and software, net | | 226,891 | | 316,447 |
(i)Represents the capitalized expenditures on the construction of corporate buildings, leasehold improvements, molds, tooling and R&D equipment under construction. Depreciation expenses on property, equipment and software were allocated to the following expense items: | | | | | | | | | Year Ended December 31, | | | 2025 | | 2024 | | 2023 | | | US$ | | US$ | | US$ | Cost of revenues | | 28,225 | | 27,124 | | 16,111 | Research and development expenses | | 3,237 | | 7,158 | | 3,238 | Selling and marketing expenses | | 7,753 | | 22,984 | | 18,350 | General and administrative expenses | | 15,525 | | 19,222 | | 17,258 | Total | | 54,740 | | 76,488 | | 54,957 |
Property, equipment and software of nil and US$370 were pledged for other short-term financing arrangements (Note 10) as of December 31, 2025 and 2024, respectively.
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