v3.25.2
FAIR VALUE MEASUREMENT (Tables)
6 Months Ended
Jun. 30, 2025
FAIR VALUE MEASUREMENT  
Schedule of major financial instruments measured at fair value, by level within the fair value hierarchy

Fair Value Measurement at Reporting Date Using

Quoted Prices

Significant

in Active

Other

Significant

Markets for

Observable

Unobservable

Fair Value as of

Identical Assets

Inputs

Inputs

June 30, 2025

(Level 1)

(Level 2)

(Level 3)

    

US$

    

US$

    

US$

    

US$

 Assets

 

  

 

  

 

  

 

  

Investment securities

 

2,158

 

2,158

 

 

Securities pledged to an investor

320,734

320,734

Liabilities

 

 

 

 

Put option liabilities

 

363,521

 

 

 

363,521

Warrant liabilities – Public Warrants

951

951

Warrant liabilities – Sponsor Warrants

667

667

Convertible notes – related parties

 

199,046

 

 

 

199,046

Convertible notes – third parties

63,855

63,855

Exchangeable notes

 

125,853

 

 

 

125,853

Fair Value Measurement at Reporting Date Using

Quoted Prices

Significant

in Active

Other

Significant

Fair Value as of

Markets for

Observable

Unobservable

December 31,

Identical Assets

Inputs

Inputs

2024

(Level 1)

(Level 2)

(Level 3)

    

US$

    

US$

    

US$

    

US$

 Assets

 

  

 

  

 

  

 

  

Investment securities

 

2,221

 

2,221

 

 

Securities pledged to an investor

315,796

315,796

Derivative asset

694

694

Liabilities

 

 

  

 

  

 

  

Put option liabilities – third parties

309,115

309,115

Warrant liabilities – Public Warrants

 

1,996

 

1,996

 

 

Warrant liabilities – Sponsor Warrants

1,344

1,344

Convertible notes – related parties

113,910

113,910

Convertible notes – third parties

74,246

74,246

Exchangeable notes

 

102,999

 

 

 

102,999