v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net (loss) profit $ 36,223 $ (44,268)
Adjustments to reconcile net profit (loss) to net cash used in operating activities:    
Depreciation of property, plant and equipment 16,161 16,091
Noncash lease expenses 1,418 1,311
Share-based compensation 1,850 1,549
Changes in fair value of warrant liability and convertible loan (58,001) 78,361
(Reversal) provision of credit losses (873) 2,191
Impairment loss of long-lived assets 24 1,364
Product warranty 5,982 8,512
Other, net 1,470 (261)
Changes in operating assets and liabilities:    
Notes receivable (2,934) (13,957)
Accounts receivable 37,127 (513)
Inventories (4,612) 7,051
Prepaid expenses and other current assets 1,324 8,830
Amounts due from/to related parties 178 (5)
Other non-current assets 2,315 312
Notes payable (64,821) (8,801)
Accounts payable 14,203 6,264
Advance from customers (793) (2,279)
Accrued expenses and other liabilities (17,153) (16,876)
Operating lease liabilities (1,265) (1,350)
Other non-current liabilities (1,132) 797
Net cash (used in) generated from operating activities (33,309) 44,323
Cash flows from investing activities    
Purchases of property, plant and equipment (14,170) (5,207)
Proceeds on disposal of property, plant and equipment 10,864 129
Net cash used in investing activities (3,306) (5,078)
Cash flows from financing activities    
Proceeds from bank borrowings 69,356 59,571
Repayment of bank borrowings (60,829) (56,184)
Repayment of bonds payable 0 (1,375)
Proceeds from sale of common stocks 1,350 0
Payment for equity issuance costs (329) 0
Deferred payment related to purchases of property, plant and equipment (1,368) (8,811)
Net cash generated from (used in) financing activities 8,180 (6,799)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,282 (3,227)
(Decrease) increase in cash, cash equivalents and restricted cash (26,153) 29,219
Cash, cash equivalents and restricted cash at beginning of the period 169,238 109,601
Cash, cash equivalents and restricted cash at end of the period 143,085 138,820
Cash and cash equivalents 127,828 99,721
Restricted cash 15,257 39,099
Total cash, cash equivalents and restricted cash 143,085 138,820
Non-cash investing and financing activities    
Payable for purchase of property, plant and equipment 37,231 58,241
Noncash Or Part Noncash Divestiture, Notes Receivable $ 7,346 $ 17,454