v3.26.1
Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Estimated Useful Lives of Assets

Depreciation of property, plant and equipment is computed using the straight-line method based on the estimated useful lives of the assets as follows:

 

 

Plant and buildings

10 to 30 years

 

Machinery and equipment

3 to 10 years

 

Motor vehicles

4 to 7 years

 

Office equipment and furniture

3 to 10 years

 

Leasehold improvements

Lesser of useful lives or term of lease

 

Land

Indefinite

Summary of Assets and Liabilities Measured on a Recurring Basis

Assets and liabilities measured on a recurring basis or disclosed at fair value as of December 31, 2025 and 2024 are summarized below:

 

 

 

Fair value measurement or disclosure

 

 

 

 

at December 31, 2025 using

 

 

Fair value measurements on a recurring basis

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale debt investments (a)

 

$

110,868

 

 

$

 

 

$

110,868

 

 

$

 

 

Equity securities (b)

 

 

312,883

 

 

 

312,883

 

 

 

 

 

 

 

 

Total recurring fair value measurements

 

$

423,751

 

 

$

312,883

 

 

$

110,868

 

 

$

 

 

 

 

 

 

Fair value measurement or disclosure

 

 

 

 

at December 31, 2024 using

 

 

Fair value measurements on a recurring basis

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale debt investments (a)

 

$

2,134,316

 

 

$

 

 

$

2,134,316

 

 

$

 

 

Equity securities (b)

 

 

712,181

 

 

 

712,181

 

 

 

 

 

 

 

 

Total recurring fair value measurements

 

$

2,846,497

 

 

$

712,181

 

 

$

2,134,316

 

 

$

 

(a) Available-for-sale debt investments primarily consist of corporate bonds, mortgage-backed securities ("MBS"), asset-backed securities ("ABS"), and government-related bonds.

(b) Equity securities measured at fair value primarily consist of mutual funds.
Summary of Investments Fair Value Measured Using Net Asset Value Per Share Practical Expedient

The following table summarizes investments for which fair value is measured using the net asset value per share practical expedient as of December 31, 2025:

 

December 31, 2025

 

Fair value

 

 

Unfunded
Commitments

 

Redemption
Frequency
(if currently eligible)

 

Redemption
Notice Period

 

Expected
Liquidation
Term

 

Redemption Provisions

 

Collective investment schemes not subject to redemption restrictions

 

$

1,547,926

 

 

N/A

 

Three times weekly

 

N/A

 

N/A

 

No other material restrictions on redemption

 

Collective investment schemes subject to redemption restrictions

 

 

14,696

 

 

N/A

 

Three times weekly

 

N/A

 

N/A

 

14-day lock-up for new subscriptions

 

Single-investor trust products not subject to redemption restrictions

 

 

778,465

 

 

N/A

 

Daily or three times weekly

 

Varies, up to
5-business-day

 

N/A

 

No other material restrictions on redemption

 

Single-investor trust products subject to redemption restrictions

 

 

2,427

 

 

N/A

 

Daily

 

N/A

 

N/A

 

180-calendar-day lock-up for new subscriptions

 

Others

 

 

460,839

 

 

N/A

 

Daily

 

N/A

 

N/A

 

No other material restrictions on redemption

 

 

 

$

2,804,353