v3.26.1
Consolidated Statements of Cash Flows
€ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (48,058,000) $ (39,258,000) $ (26,259,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation for property, plant and equipment 1,229,000 1,270,000 2,454,000
Amortization of intangible assets 28,000 1,061,000 1,287,000
Reduction in the carrying amount of the right-of-use assets 1,036,000 1,119,000 988,000
(Gain) loss on disposal of long-lived assets 7,000 (479,000)  
Write-down of inventories 1,149,000 4,797,000 0
Impairment of intangible assets   696,000  
Share-based compensation expense 2,986,000 1,306,000 7,217,000
Change in fair value of investments 179,000 (1,696,000) 581,000
Share of net loss of an equity investee 2,187,000 1,189,000 48,000
Gain from extinguishment of investment in a convertible loan     (474,000)
Impairment loss of long-term investments     2,009,000
Changes in operating assets and liabilities:      
Accounts receivable 11,253,000 (5,794,000) 3,422,000
Receivable from a related party   587,000 (587,000)
Inventories 2,505,000 5,828,000 (9,739,000)
Prepaid expenses and other 9,000 319,000 701,000
Accounts payable (1,658,000) (1,715,000) 1,149,000
Accrued liabilities and other liabilities 6,394,000 1,546,000 (876,000)
Income tax payable     (1,888,000)
Net cash used in operating activities (20,754,000) (29,224,000) (19,967,000)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property, plant and equipment (16,000) (223,000) (204,000)
Proceeds from sale of intangible assets   500,000  
Purchase of intangible assets (13,000) (17,000) (2,037,000)
Proceeds from sales of equity securities 2,604,000 467,000  
Cash paid to acquire equity interests in an equity method investee (1,624,000) (1,370,000)  
Purchase of short term investments and term deposits   (1,407,000) (51,754,000)
Proceeds from sales or maturity of short term investments and term deposits   13,294,000 43,322,000
Proceeds from extinguishment of investment in a convertible loan     1,000,000
Net cash provided by (used in) investing activities 951,000 11,244,000 (9,673,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of ordinary shares 5,878,000 15,000,000  
Payment of issuance costs (681,000) (960,000)  
Proceeds from issuance of convertible note 5,000,000    
Proceeds from exercise of share options 56,000 2,112,000 109,000
Dividend payment to Wuxi LP   (718,000) (738,000)
Proceeds from bank borrowings 1,001,000    
Repurchase of ordinary shares     (278,000)
Net cash provided by (used in) financing activities 11,254,000 15,434,000 (907,000)
Effect of exchange rate change on cash and cash equivalents 713,000 (1,069,000) 518,000
Net decrease in cash and cash equivalents (7,836,000) (3,615,000) (30,029,000)
Cash and cash equivalents at beginning of year 13,468,000 17,083,000 47,112,000
Cash and cash equivalents at end of year 5,632,000 13,468,000 17,083,000
Supplemental disclosure of cash flow information:      
Interest paid $ 4,000    
Income taxes paid     1,807,000
Non-cash investing and financing activities:      
Payables related to property, plant and equipment   $ 8,000 99,000
Exchange of redeemable noncontrolling interest to long term borrowing (Note 11)     $ 18,895,000