v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (79,969) $ (122,754) $ (76,038)
Adjustments for:      
Depreciation expenses 90,674 96,641 97,798
Amortization expenses 252 367 579
Impairment losses on property, plant and equipment and other assets 5,798 33,532 1,387
Expected credit loss recognized on trade receivables 597 464 491
(Reversal of) write-down of inventories (2,315) 4,366 2,460
Share-based payments 2,310 11,644 26,324
Finance costs 14,643 14,135 11,925
Finance income (1,855) (3,183) (2,946)
Loss on disposals of property, plant and equipment 17,567 14,186 1,642
Other (gains) losses (118) (28) 615
Gain on financial liabilities at fair value through profit or loss (2,390) (28,178) (16,117)
Share of loss of investments accounted for using equity method 1,322 4,090 1,221
Recognition of provisions 870 4,334 0
Changes in operating assets and liabilities:      
Increase in trade receivables (3,146) (306) (1,483)
Decrease in inventories 28,150 3,771 21,709
Decrease in other assets 1,192 3,010 9,741
Decrease in notes and trade payables (16,660) (8,766) (762)
(Decrease) increase in contract liabilities (4,567) 4,969 (1,359)
Decrease in provisions for product warranty (1,941) (5,649) (2,575)
Decrease in other liabilities (1,999) (6,096) (6,723)
Cash generated from operations 48,415 20,549 67,889
Interest income received 1,855 3,183 2,946
Interest expense paid (14,341) (13,785) (11,682)
Income tax paid (32) (97) (58)
Net cash generated from operating activities 35,897 9,850 59,095
CASH FLOWS FROM INVESTING ACTIVITIES      
Payments for acquisitions of property, plant and equipment (64,997) (124,420) (117,816)
Proceeds from disposals of property, plant and equipment 360 1,313 1,549
Payments for acquisitions of intangible assets (445) (78) (466)
Payments for acquisitions of investments accounted for using equity method (1,000) 0 (18,900)
Refundable deposits received (paid) 397 (283) (462)
Decrease (increase) in restricted deposits 5,725 (5,257) (531)
Net cash used in investing activities (59,960) (128,725) (136,626)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of shares (Note 16) 0 75,000 0
Proceeds from bank loans 87,125 33,826 155,069
Repayments of bank loans (96,807) (61,550) (127,221)
Guarantee deposits refunded (30) (192) (62)
Repayments of the principal portion of lease liabilities (13,325) (13,270) (12,635)
Net cash (used in) generated from financing activities (23,037) 33,814 15,151
Effects of exchange rate changes on cash and cash equivalents 526 28,324 165
NET DECREASE IN CASH AND CASH EQUIVALENTS (46,574) (56,737) (62,215)
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 117,148 173,885 236,100
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR $ 70,574 $ 117,148 $ 173,885