v3.26.1
Other non-operating (expenses) income, net
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Other non-operating (expenses) income, net Other non-operating (expenses) income, net
Other non-operating (expenses) income, net consisted of the following:
Year ended December 31,
202320242025
US$US$US$
Change in fair value of equity securities (Note 9)(3,208)(6,114)(221)
Change in fair value of warrant liabilities (Note 14)1,675 (477)76 
Change in fair value of derivative assets (Note 9)— — 175 
Change in fair value of derivative liabilities (Note 16)— — 214 
Government grants1,672 2,798 5,942 
Foreign currency exchange losses, net(1,479)(973)(1,223)
Others, net— — 941 
Total other non-operating (expenses) income, net (1,340)(4,766)5,904 
The Group received government grants of US$8,516, US$10,244 and US$13,611 during the years ended December 31, 2023, 2024 and 2025 respectively, and recognized US$1,672, US$2,798 and US$5,942 as non-operating (expenses) income, net in the Group’s consolidated statements of comprehensive loss for the years ended December 31, 2023, 2024 and 2025 respectively.
There were no significant commitments, contingencies or provision for recapture conditions for the government subsidies received for the years ended December 31, 2023, 2024 and 2025.
As of December 31, 2024 and 2025, deferred government grants are recorded as follow:
As of December 31,
20242025
US$US$
Accrued expenses and other current liabilities795 853 
Other non-current liabilities – third parties1
13,349 20,675 

1 The Group was awarded grants from governments and conditional on the tax contribution in certain specified regions in the next few years. The government grants have been received and recognized as other non-current liabilities – third parties, which will be released to government grants in the consolidated statements of comprehensive loss when the conditions attached for tax contribution are satisfied. As of December 31, 2024 and 2025, the Group estimated that the conditions attached for tax contribution would be not probable to be satisfied, thus the Group classifies these liabilities as other non-current liabilities – third parties.