DEFERRED INCOME

12 Months Ended

Dec. 31, 2025

16.	DEFERRED INCOME


		Asset-related
		subsidy
		US$
Balance as of January 1, 2023		258,450
Subsidy received during the year		16,345
Foreign currency translation adjustment		(4,698)
Balance as of December 31, 2023		270,097
Subsidy received during the year		28,135
Recognized as other operating income during the year		(25)
Foreign currency translation adjustment		(4,284)
Balance as of December 31, 2024		293,923
Subsidy received during the year		11,331
Recognized as other operating income during the year		(60)
Foreign currency translation adjustment		6,718
Balance as of December 31, 2025		311,912

During the years ended December 31, 2025, 2024 and 2023, the Group received specific subsidies of US$11,331, US$28,135 and US$16,345 for compensating the expenditures on the construction of the Group’s corporate buildings and plant (“asset-related subsidy”), respectively.

The Group received government grants of US$5,114, US$8,613 and US$4,077 with no future related costs required during the years ended December 31, 2025, 2024 and 2023, which were directly recognized as other operating income in the consolidated statements of comprehensive loss for the years ended December 31, 2025, 2024 and 2023, respectively.