ACCOUNTS AND NOTES PAYABLE

6 Months Ended

Jun. 30, 2024

Accounts And Notes Payable

ACCOUNTS AND NOTES PAYABLE

14. ACCOUNTS AND NOTES PAYABLE

Accounts and notes payable consisted of the following:

	June 30, 2024		December 31, 2023
	US$’000		US$’000
	(Unaudited)
Accounts payable		19,718		14,824
Notes payable		283		-
Total		20,001		14,824

Notes payable consisted of bank notes provided by the Company to its suppliers. These short-term bank notes can be endorsed and assigned to suppliers as payments for purchases. The bank notes payable are generally payable within six months. These notes payable are guaranteed by the bank for their full face value. In addition, the banks usually require the Company to deposit a certain amount of funds at the bank as a guaranteed deposit, which is classified on the consolidated balance sheets as restricted cash.