5. | PREPAYMENTS AND OTHER CURRENT ASSETS — THIRD PARTIES |
Prepayments and other current assets — third parties consisted of the following: | | | | | | | As of December 31, | | | 2023 | | 2022 | | | US$ | | US$ | Deductible VAT | | 41,066 | | 36,508 | Prepayments to third-party suppliers | | 11,280 | | 2,446 | Deposits | | 3,995 | | 3,747 | Deferred listing expenses | | 1,686 | | — | Others | | 5,850 | | 1,674 | Less: Allowance for credit losses (i) | | (7) | | — | Total | | 63,870 | | 44,375 |
| (i) | The movement of the allowance for credit losses is as follows: |
| | | | | US$ | Balance as of December 31, 2022 | | — | Impact of adoption of ASC 326 | | 2 | Balance as of January 1, 2023 | | 2 | Provisions | | 4 | Foreign currency translation adjustment | | 1 | Balance as of December 31, 2023 | | 7 |
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