v3.25.2
CONVERTIBLE NOTES (Tables)
6 Months Ended
Jun. 30, 2025
Convertible notes  
CONVERTIBLE NOTES  
Schedule of convertible notes

    

Subsidiary

    

2024

    

2025

    

Convertible Note

Convertible Notes

Convertible Notes

Total

US$

US$

US$

US$

Balance as of December 31, 2024

74,246

113,910

188,156

Issuance of convertible notes

189,263

189,263

Changes in fair values of convertible notes, excluding impact of instrument-specific credit risk

1,582

5,948

9,783

17,313

Changes in fair values of convertible notes due to the instrument-specific credit risk

(12,249)

(595)

(12,844)

Repayment

(119,263)

(119,263)

Foreign currency translation adjustment

276

276

Balance as of June 30, 2025

63,855

199,046

262,901

Including:

– Current portion

123,544

123,544

– Non-current portion

63,855

 

 

75,502

 

139,357

Subsidiary Convertible Note  
CONVERTIBLE NOTES  
Schedule of assumptions used in determination of fair value of Convertible Note

    

As of June 30, 2025

Risk-free interest rates

 

1.43

%

Probability of conversion

 

10

%

Bond yields

 

14.73%~15.41

%

2025 Convertible Notes  
CONVERTIBLE NOTES  
Schedule of assumptions used in determination of fair value of Convertible Note

    

As of June 30, 2025

Risk‑free interest rate

 

3.69%~3.90

%

Volatilities

 

53.37%~56.34

%

Bond yield

 

18.04%~18.38

%