v3.24.1.u1
PROPERTY, EQUIPMENT AND SOFTWARE, NET
 12 Months Ended
Dec. 31, 2023
PROPERTY, EQUIPMENT AND SOFTWARE, NET  
PROPERTY, EQUIPMENT AND SOFTWARE, NET

6.

PROPERTY, EQUIPMENT AND SOFTWARE, NET

Property, equipment and software, net, consisted of the following:

​

​

​

​

​

​

​

    

As of December 31,

​

​

2023

    

2022

​

​

US$

​

US$

Machinery and R&D equipment

 

26,551

 

16,997

Molds and tooling

 

84,367

 

79,963

Motor vehicles

 

50,935

 

15,586

Office and electronic equipment

 

32,325

 

17,271

Purchased software

 

68,422

 

49,905

Leasehold improvements

 

35,506

 

22,431

Property, equipment and software

 

298,106

 

202,153

Less: Accumulated depreciation

 

(66,258)

 

(15,455)

Construction in progress(i)

 

122,769

 

66,773

Property, equipment and software, net

 

354,617

 

253,471

(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,

​

​

2023

​

2022

    

2021

​

​

US$

​

US$

​

US$

Cost of revenues

 

16,111

 

38

 

25

Research and development expenses

 

3,238

 

2,681

 

1,626

Selling and marketing expenses

 

18,350

 

5,476

 

61

General and administrative expenses

 

17,258

 

4,595

 

344

Total depreciation expenses

 

54,957

 

12,790

 

2,056

​

Property, equipment and software with a net book value of US$37,287 and nil were pledged as security for the exchangeable notes subject to further notice by the exchangeable notes holder as mentioned in note 14 as of December 31, 2023 and 2022, respectively.