Prepayments and Other Current Assets
 12 Months Ended
Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Prepayments and Other Current Assets
5.
Prepayments and Other Current Assets

The prepayments and other current assets consisted of the following:

 

 

As of December 31,

 

 

2021

 

 

2022

 

 

(US$ thousand)

 

Interest receivables

 

$

2,674

 

 

$

4,412

 

Prepayments(1)

 

 

2,820

 

 

 

2,033

 

VAT recoverable(2)

 

 

1,806

 

 

 

428

 

Employee loans and advances(3)

 

 

888

 

 

 

183

 

Restricted cash

 

 

130

 

 

 

130

 

Proceeds receivable for employee share option exercises

 

 

329

 

 

 

90

 

Others

 

 

154

 

 

 

50

 

 

$

8,801

 

 

$

7,326

 

 

(1)
Prepayments are primarily related to prepayments for services, advertisements and other deposits.
(2)
VAT recoverable represented the balances that the Group can utilize to deduct its VAT liabilities within the next 12 months.
(3)
Employee advances and loans are primarily advances to employees that are business related, taxes paid on behalf of employees related to their options, or personal loans granted to select qualified employees with interest or a guarantee. The loan balances are expected to be repaid by the employee within one year.