| Disposal Groups, Including Discontinued Operations [Table Text Block] |
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As of
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December 31, 2025
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March 31, 2026
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(Unaudited)
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Assets
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Current assets:
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Cash and cash equivalents
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$ |
4,352 |
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$ |
5,169 |
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Short-term investments
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3,531 |
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- |
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Advances to suppliers
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117 |
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92 |
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Prepaid expenses and other current assets
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23 |
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22 |
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Total current assets
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8,023 |
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5,283 |
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Noncurrent assets:
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Property and equipment, net
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1,373 |
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1,373 |
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Operating right-of-use assets
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2,683 |
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2,562 |
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Other noncurrent assets
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300 |
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449 |
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Total noncurrent assets
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4,356 |
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4,384 |
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Total assets
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$ |
12,379 |
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$ |
9,667 |
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Liabilities and equity
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Current liabilities:
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Short-term loans
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$ |
4,369 |
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$ |
- |
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Accounts payable
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361 |
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4,232 |
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Accrued expenses
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3,105 |
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1,362 |
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Current portion of operating lease liabilities
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430 |
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439 |
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Deferred revenue
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2,001 |
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2,001 |
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Other current liabilities
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867 |
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1,229 |
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Total current liabilities
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11,133 |
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9,263 |
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Noncurrent liabilities:
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Operating lease liabilities
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1,945 |
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1,836 |
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Deferred revenue
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1,821 |
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1,321 |
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Total noncurrent liabilities
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3,766 |
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3,157 |
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Total liabilities
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$ |
14,899 |
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$ |
12,420 |
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Three months ended March 31,
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2025
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2026
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(Unaudited)
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(Unaudited)
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Revenue
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$ |
500 |
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$ |
500 |
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Operating expenses
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Research and development
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(2,989 |
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(3,454 |
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General and administrative
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(864 |
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(1,381 |
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Loss from operations
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(3,353 |
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(4,335 |
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Interest income
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68 |
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7 |
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Other income, net
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53 |
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5 |
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Loss before income tax
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(3,232 |
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(4,323 |
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Income tax expense
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- |
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- |
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Loss from discontinued operations before disposal
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(3,232 |
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(4,323 |
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Gain on sale of subsidiary interests
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6,986 |
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- |
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Net income (loss) from discontinued operations
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$ |
3,754 |
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$ |
(4,323 |
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Three months ended March 31,
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2025
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2026
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(Unaudited)
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(Unaudited)
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Net cash used in discontinued operating activities
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$ |
(2,494 |
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$ |
(2,054 |
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Net cash provided by discontinued investing activities
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$ |
950 |
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$ |
3,531 |
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Net cash used in discontinued financing activities
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$ |
- |
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$ |
(4,149 |
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Gain recognized on the First Closing
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Three months ended March 31, 2025
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Fair value of consideration received
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$ |
7,354 |
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Less: Adjustments to noncontrolling interests (6.75% of the equity interests)
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368 |
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Gain on sale of subsidiary interests
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$ |
6,986 |
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