v3.26.1
Principal Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2025
Principal Accounting Policies  
Schedule of assets and liabilities that are measured at fair value on a recurring basis

Fair value measurement at reporting date using

  ​ ​ ​

Fair value 

  ​ ​ ​

Quoted Prices in Active

  ​ ​ ​

  ​ ​ ​

Significant 

as of 

 Markets for Identical 

Significant Other 

Unobservable

December 31, 

Assets 

Observable Inputs 

 Inputs 

Description

  ​ ​ ​

2024

  ​ ​ ​

(Level 1)

  ​ ​ ​

(Level 2)

  ​ ​ ​

(Level 3)

US$

US$

US$

US$

Assets:

 

  ​

 

  ​

 

  ​

 

  ​

Short-term investments

 

57,525

 

2,117

 

55,408

 

Long-term investments

7,116

 

 

195

 

6,921

64,641

2,117

55,603

6,921

 

Fair value measurement at reporting date using

  ​ ​ ​

Fair value

  ​ ​ ​

Quoted Prices in Active

  ​ ​ ​

  ​ ​ ​

Significant

 

as of

 

Markets for Identical

 

Significant Other

 

Unobservable

 

December 31, 

 

Assets

 

Observable Inputs

 

Inputs

Description

  ​ ​ ​

2025

  ​ ​ ​

(Level 1)

  ​ ​ ​

(Level 2)

  ​ ​ ​

(Level 3)

 

US$

US$

US$

US$

Assets:

Short-term investments

 

61,270

 

2,938

 

58,332

 

Long-term investments

 

7,449

 

 

242

 

7,207

68,719

2,938

58,574

7,207

Schedule of roll forward of major Level 3 investments

  ​ ​ ​

US$

Fair value of Level 3 investments as of December 31, 2023

 

9,874

Disposal

 

(2,706)

The change in fair value of the investments

 

(247)

Fair value of Level 3 investments as of December 31, 2024

 

6,921

The change in fair value of the investments

286

Fair value of Level 3 investments as of December 31, 2025

7,207

Schedule of significant unobservable inputs adopted in the valuation

  ​ ​ ​

As of December 31, 

 

  ​ ​ ​

2024

  ​ ​ ​

2025

Unobservable Inputs

  ​ ​ ​

Expected volatility

 

40%-71

%

33% - 73

%

Probability

 

Liquidation scenario:38%-45

%

Liquidation scenario: 38% - 40

%

 

Redemption scenario:38%-45

%

Redemption scenario: 38% - 40

%

 

IPO scenario:10%-25

%

IPO scenario: 20% - 25

%

Schedule of property, plant and equipment estimated useful life

Leasehold improvements

  ​ ​ ​

the shorter of their useful lives and the lease terms

Computers and electronic equipment

 

3 years

Office equipment

 

3 years

Software

 

3 years

Disaggregated major revenue

Year Ended December 31, 

  ​ ​ ​

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

US$

US$

US$

PaaS

 

167,694

217,069

231,209

Smart solution

 

26,517

41,965

45,702

SaaS and others

 

35,779

39,583

44,880

Total revenue

 

229,990

298,617

321,791

Schedule of our segment results

  ​ ​ ​

Year Ended December 31, 

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

US$

US$

US$

Revenue

 

229,990

 

298,617

 

321,791

Cost of revenue

 

(123,335)

 

(157,187)

 

(166,750)

Segment gross profit

 

106,655

 

141,430

 

155,041

Research and development expenses

 

(102,277)

 

(95,049)

 

(89,687)

Selling, general and administrative expenses

 

(121,103)

 

(105,335)

 

(64,026)

Other operating incomes, net

 

10,901

 

11,334

 

10,151

Segment (loss)/profit from operations

 

(105,824)

 

(47,620)

 

11,479