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Leases | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2025 | Dec. 31, 2024
Leases [Abstract] |  |
LEASES | 11. LEASES The balances for the operating leases where the Company is the lessee are presented as follows:
|  | As of
|  | June 30, 2025 |  | December 31, 2024
|  | (Unaudited) |  |
Operating lease right-of-use assets |  | $ | 2,046 |  |  | $ | 6,383 |
Lease liabilities – current |  | $ | (1,084 | ) |  | $ | (2,250 | )
Lease liabilities – non-current |  |  | (1,293 | ) |  |  | (4,804 | )
Total operating lease liabilities |  | $ | (2,377 | ) |  | $ | (7,054 | )
The components of operating lease expense are as follows:
|  | For the six months ended June 30,
|  | 2025 |  | 2024
|  | (Unaudited) |  |
Operating lease expense |  | $ | 732 |  | $ | 1,384
Short-term lease expense |  |  | 15 |  |  | 157
Lease termination expense |  |  | 55 |  |  | 37
Total lease expense |  | $ | 802 |  | $ | 1,578
Short-term leases included lease of Tianjin offices, warehouse and others with a term of 12 months or less, which were excluded from the recognition of right-of-use assets or lease liabilities. Both operating lease expense, short-term lease expense and termination expense are recognized as general and administrative expenses and other expense. Other information related to operating leases where the Company is the lessee is as follows:
|  | As of June 30, 2025
Weighted-average remaining lease term (in years) |  | 2.25 |
Weighted-average discount rate |  | 4.39 | %
Because most of the leases do not provide an implicit rate of return, the Company used the incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments. The following is a schedule of future minimum payments under the Company’s operating leases as of June 30, 2025:
For the years ended December 31, |  | Amount
Remainder of 2025 |  | $ | 1,171 |
2026 |  |  | 1,328 |
Total lease payments |  |  | 2,499 |
Less: imputed interest |  |  | (122 | )
Total operating lease liabilities, net of interest |  | $ | 2,377 |
| 15. LEASES The balances for the operating leases where the Group is the lessee are presented as follows:
|  | As of December 31,
|  | 2024 |  | 2023
Operating lease right-of-use assets |  | $ | 6,383 |  |  | $ | 9,230 |
Lease liabilities – current |  | $ | (2,250 | ) |  | $ | (3,014 | )
Lease liabilities – non-current |  |  | (4,804 | ) |  |  | (7,075 | )
Total operating lease liabilities |  | $ | (7,054 | ) |  | $ | (10,089 | )
The components of operating lease expenses are as follows:
|  | For the years ended December 31,
|  | 2024 |  | 2023 |  | 2022
Operating lease expense |  | $ | 2,767 |  | $ | 2,383 |  | $ | 769
Short-term lease expense |  |  | 314 |  |  | 2,252 |  |  | 508
Lease termination expense |  |  | 74 |  |  | — |  |  | —
Total lease expense |  | $ | 3,155 |  | $ | 4,635 |  | $ | 1,277
Short-term leases included lease of Tianjin offices, warehouse and others with a term of 12 months or less, which were excluded from the recognition of right-of-use assets or lease liabilities. Both operating lease expense, short-term lease expense and termination expense are recognized as general and administrative expenses and other expense. Other information related to operating leases where the Group is the lessee is as follows:
|  | As of December 31,
|  | 2024 |  | 2023
Weighted-average remaining lease term (in years) |  | 2.99 |  |  | 3.75 |
Weighted-average discount rate |  | 4.31 | % |  | 3.93 | %
Because most of the leases do not provide an implicit rate of return, the Group used the incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments. The following is a schedule of future minimum payments under the Group’s operating leases as of December 31, 2024:
For the year ended December 31, |  | Amounts
2025 |  | $ | 2,510 |
2026 |  |  | 2,775 |
2027 |  |  | 2,029 |
2028 |  |  | 349 |
Thereafter |  |  | — |
Total lease payments |  |  | 7,663 |
Less: imputed interest |  |  | (609 | )
Total operating lease liabilities, net of interest |  | $ | 7,054 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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