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Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Intangible Assets [Abstract] |
INTANGIBLE ASSETS |
| 11. | INTANGIBLE ASSETS
|  | Development |  |  | Other |  |  |  |
|  | costs |  |  | intangibles |  |  | Total |
|  | US$ |  |  | US$ |  |  | US$ |
Cost |  |  |  |  |  |  |  |  |
At January 1, 2022 |  |  | 17,455,922 |  |  |  | 1,906,780 |  |  |  | 19,362,702 |
Additions |  |  | 4,734,550 |  |  |  | - |  |  |  | 4,734,550 |
Impairment during the year |  |  | - |  |  |  | (1,871,976 | ) |  |  | (1,871,976 | )
Exchange realignment |  |  | 302,050 |  |  |  | (34,804 | ) |  |  | 267,246 |
At December 31, 2022 and January 1, 2023 |  |  | 22,492,522 |  |  |  | - |  |  |  | 22,492,522 |
Additions |  |  | 2,097,621 |  |  |  | - |  |  |  | 2,097,621 |
Impairment during the year |  |  | (3,105,507 | ) |  |  | - |  |  |  | (3,105,507 | )
Exchange realignment |  |  | 335,329 |  |  |  | - |  |  |  | 335,329 |
At December 31, 2023 |  |  | 21,819,965 |  |  |  | - |  |  |  | 21,819,965 |
Accumulated amortization |  |  |  |  |  |  |  |  |  |  |  |
At January 1, 2022 |  |  | 4,546,452 |  |  |  | 237,593 |  |  |  | 4,784,045 |
Amortization provided during the year |  |  | 3,401,957 |  |  |  | 187,198 |  |  |  | 3,589,155 |
Impairment during the year |  |  | - |  |  |  | (421,195 | ) |  |  | (421,195 | )
Exchange realignment |  |  | 137,441 |  |  |  | (3,596 | ) |  |  | 133,845 |
At December 31, 2022 and January 1, 2023 |  |  | 8,085,850 |  |  |  | - |  |  |  | 8,085,850 |
Amortization provided during the year |  |  | 6,202,250 |  |  |  | - |  |  |  | 6,202,250 |
Exchange realignment |  |  | 237,782 |  |  |  | - |  |  |  | 237,782 |
At December 31, 2023 |  |  | 14,525,882 |  |  |  | - |  |  |  | 14,525,882 |
Net carrying amount |  |  |  |  |  |  |  |  |  |  |  |
At December 31, 2023 |  |  | 7,294,083 |  |  |  | - |  |  |  | 7,294,083 |
At December 31, 2022 |  |  | 14,406,672 |  |  |  | - |  |  |  | 14,406,672 |
During the year ended December 31, 2023, an impairment loss of US$3,105,507 (2022: Nil; 2021: Nil) was recognized as certain development projects were abandoned and written down to their recoverable amount of nil as a result of changes in the Company’s technology development investment strategy. During the year ended December 31, 2023, the Group also revised the estimated useful lives of certain intangible assets to better reflect the expected period of usage. The change has been applied prospectively and resulted in an increase in amortization of approximately US$1,900,000 for the year.

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