Company: XCH
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056976
Chunk: 104

Company: XCHG Ltd
Filing Date: 2025-04-23
Form: 20-F
Item: Item 5
Chunk 104
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 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Selling and marketing expenses                                                       3,516      11.9       6,433      16.7      10,343      24.5  
  Research and development expenses                                                    2,816       9.6       4,061      10.6      12,159      28.8  
  General and administrative expenses                                                  2,745       9.3      14,025      36.4      10,790      25.6  
  Total                                                                                9,077      30.9      24,519      63.7      33,292      78.9  

Selling and marketing expense s. Selling and marketing expenses consist of (i) staff cost in relation to selling and marketing activities, (ii) share based compensation, and (iii) other selling and marketing expenses. In 2022, 2023 and 2024, our selling and marketing expenses amounted to US$3.5 million, US$6.4 million and US$10.3 million, respectively, representing 11.9%, 16.7% and 24.5% of our revenues in the same periods, respectively. The following table sets forth a breakdown of our selling and marketing expenses, in absolute amounts and as percentages of our total revenues, for the periods indicated.

                                      For the Year Ended December 31,                                                                         
                                      2022                                                                                                    
                                      US$                                                                                                     
  Selling and marketing expenses      (in thousands, except for percentages)                                                                  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Staff cost                                                                      2,887       9.8      4,329      11.2       5,658      13.4  
  Share based compensation                                                            —         —          —         —       1,767       4.2  
  Others (1)                                                                        629       2.1      2,104       5.5       2,918       6.9  
  Total                                                                           3,516      11.9      6,433      16.7      10,343      24.5  

Note:

(1)

Primarily consist of advertising costs and promotion expenses,

business entertainment expenses, traveling