v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS DEFICIT - USD ($)
$ in Thousands
Total
Class A Ordinary Shares
Class B Ordinary Shares
Total deficit attributable to ordinary shareholders of the Company
Common Stock
Class A Ordinary Shares
Common Stock
Class B Ordinary Shares
Treasury Shares
Additional paid-in capital
Accumulated deficit
Accumulated other comprehensive loss
Noncontrolling interests
Beginning balance (in shares) at Dec. 31, 2022 [1]         288,434,474 48,960,916          
Beginning balance at Dec. 31, 2022 [1] $ (4,994)     $ (28,470) $ 2 $ 0   $ 853,365 $ (861,372) $ (20,465) $ 23,476
CHANGES IN SHAREHOLDERS' DEFICIT                      
Net loss (143,899)     (133,315)         (133,315)   (10,584)
Share-based compensation (Note 20) 24,866     24,866       24,866 0    
Combination of a subsidiary under common control (Note 3.a) 409     409       409      
Issuance of Class A ordinary shares under 2022 Share Incentive Plan (in shares)         554,575            
Foreign currency translation adjustment, net of nil income taxes 6,505 [2]     7,185           7,185 (680)
Ending balance (in shares) at Dec. 31, 2023 [1]         288,989,049 48,960,916          
Ending balance, treasury (in shares) at Dec. 31, 2023             0        
Ending balance at Dec. 31, 2023 (117,113) [1]     (129,325) [1] $ 2 [1] $ 0 [1] $ 0 878,640 [1] (994,687) [1] (13,280) [1] 12,212 [1]
CHANGES IN SHAREHOLDERS' DEFICIT                      
Net loss (137,751)     (129,765)         (129,765)   (7,986)
Share-based compensation (Note 20) 18,515     18,515       18,515      
Combination of a subsidiary under common control (Note 3.a) (1,948)     (1,948)       (1,948)      
Acquisition of Suzhou Photon-Matrix (Note 3.c) (2,002)                   (2,002)
Acquisition of noncontrolling interests (Note 3.c) (332)     (295)       (295)     (37)
Issuance of Class A ordinary shares under 2022 Share Incentive Plan (in shares)         7,180,061            
Issuance of Class A ordinary shares under 2022 Share Incentive Plan (Note 19) 98     98       98      
Repurchase of ordinary shares (in shares)         (5,003,000)   5,003,000        
Repurchase of ordinary shares (Note 19) (1,019)     (1,019)     $ (1,019)        
Foreign currency translation adjustment, net of nil income taxes $ 3,849 [2]     4,071           4,071 (222)
Ending balance (in shares) at Dec. 31, 2024   291,166,110 48,960,916   291,166,110 48,960,916          
Ending balance, treasury (in shares) at Dec. 31, 2024 5,003,000           5,003,000        
Ending balance at Dec. 31, 2024 $ (237,703) [3]     (239,668) $ 2 $ 0 $ (1,019) 895,010 (1,124,452) (9,209) 1,965
CHANGES IN SHAREHOLDERS' DEFICIT                      
Net loss (68,939)     (66,043)         (66,043)   (2,896)
Share-based compensation (Note 20) 13,341     13,341       13,341      
Issuance of Class A ordinary shares under 2022 Share Incentive Plan (in shares)         8,130,272            
Issuance of Class A ordinary shares under 2022 Share Incentive Plan (Note 19) 332     332       332     0
Issuance of ordinary shares upon follow-on public offering (in shares)         25,000,000            
Issuance of Class A ordinary shares upon follow-on public offering (Note 19) 42,578     42,578       42,578     0
Re-designated ordinary shares from class B to Class A (in shares)         3,000,000 (3,000,000)          
Re-designated ordinary shares from class B to Class A (Note 19) 0     0       0      
Repurchase of ordinary shares (in shares)         (20,897,751)   20,897,751        
Repurchase of ordinary shares (Note 19) (28,985)     (28,985)     $ (28,985)        
Issuance of Class A ordinary shares for convertible notes conversion (Note 18) (in shares)   4,107,146 3,000,000   4,107,146            
Issuance of Class A ordinary shares for convertible notes conversion (Note 19) 7,664 $ 7,664   7,664       7,664   0  
Waiver of loan receivables from a related party under common control (Note 28) (873)     (873)       (873)      
Fair value change of available-for-sale debt investment (Note 9) (143)     (143)           (143)  
Foreign currency translation adjustment, net of nil income taxes $ (10,747)     (10,867)           (10,867) 120
Ending balance (in shares) at Dec. 31, 2025   310,505,777 45,960,916   310,505,777 45,960,916          
Ending balance, treasury (in shares) at Dec. 31, 2025 25,900,751           25,900,751        
Ending balance at Dec. 31, 2025 $ (283,475)     $ (282,664) $ 2 $ 0 $ (30,004) $ 958,052 $ (1,190,495) $ (20,219) $ (811)
[1] efer to Note 2(c))
[2] Restated (refer to Note 2(c))
[3] Restated (refer to Note 2(c))