Company: XCH
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056976
Chunk: 106

Company: XCHG Ltd
Filing Date: 2025-04-23
Form: 20-F
Item: Item 5
Chunk 106
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$2.7 million, US$14.0 million and US$10.8 million, respectively, representing 9.3%, 36.4% and 25.6% of our revenues in the same periods, respectively. The following table sets forth a breakdown of our general and administrative expenses, in absolute amounts and as percentages of our total revenues, for the periods indicated.

                                              For the Year Ended December 31,                                                                          
                                              2022                                                                                                     
                                              US$                                                                                                      
  General and administrative expenses         (in thousands, except for percentages)                                                                   
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Professional expenses                                                                     855       2.9       2,989       7.8       3,628       8.6  
  Staff cost                                                                              1,446       4.9       2,097       5.4       2,435       5.8  
  Share based compensation                                                                    —         —       7,457      19.4       2,406       5.7  
  Foreign currency exchange loss (gain)                                                    (339      (1.2        (481      (1.2         620       1.5  
  Losses of credit impairment                                                               335       1.1         192       0.5          44       0.1  
  Issuance cost of the convertible debts                                                      —         —         429       1.1           —         —  
  Other general corporate expenses                                                          448       1.6       1,342       3.5       1,657       3.9  
  Total                                                                                   2,745       9.3      14,025      36.4      10,790      25.6  

Taxation

Cayman Islands

We are incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, we are not subject to income, corporation or capital gains tax in the Cayman Islands. In addition, our payment of dividends, if any, is not subject to withholding tax in the Cayman Islands.

PRC

Our subsidiaries in China are companies incorporated under PRC laws and, as such, are subject to PRC enterprise income tax on their taxable income in accordance with the relevant PRC income tax laws. Pursuant to the PRC E