v3.26.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss from continuing operation $ (41,092) $ (2,355)
Net income from discontinued operation 87,748 4
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 1,619 181
Amortization of operating lease right-of-use asset 56
Changes in fair value of warrant liabilities (15) 45
Changes in fair value of convertible notes 1,956
Issuance costs and discount on convertible notes 564
Disposal loss of property and equipment 114
Inventory write-downs 508
Impairment loss of advance to suppliers and prepaid expenses 34
Deferred tax benefit (42)
Share-based compensation 31,211
Changes in assets and liabilities:    
Accounts receivable (8,672)
Advance to supplier (668)
Inventories 105 457
Prepaid expenses and other current assets (109) 796
Other non-current assets (34)
Operating lease (45)
Accounts payable 156 (82)
Advance from customers 75
Accrued expenses and other current liabilities 10,174 918
Net cash (used in) provided by operating activities from continuing operation (4,727) 582
Net cash provided by (used in) operating activities from discontinued operation 2,116 (1,607)
Net cash used in operating activities (2,611) (1,025)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (112)
Net cash outflow from disposal of a subsidiary (1,335)
Proceeds from disposal of property and equipment 107
Loans to third parties (1,897)
Loan to a related party (255)
Net cash (used in) provided by investing activities from continuing operation (3,599) 107
Net cash used in investing activities from discontinued operation (1,488) (24)
Net cash (used in) provided by investing activities (5,087) 83
CASH FLOWS FROM FINANCING ACTIVITIES:    
Loan proceeds from related parties 163 716
Loan proceeds from a third party 9 136
Repayments of loan from related parties (449) (27)
Proceeds from convertible notes 2,937
Issuance of Class B ordinary shares under Equity Purchase Facility 2,109
Net cash provided by financing activities from continuing operations 4,769 825
Net cash provided by financing activities from discontinued operations 39
Net cash provided by financing activities 4,769 864
Effect of exchange rate changes (288) 99
Net (decrease) increase in cash and cash equivalents (3,217) 21
Cash and cash equivalents and restricted cash, at beginning of the period 5,327 1,287
Cash and cash equivalents and restricted cash, at end of the period 2,110 1,308
SUPPLEMENTAL DISCLOSURE OF NON CASH FLOW INFORMATION:    
Expenses paid by a third party on behalf of the Group 407
Conversion of convertible notes 13,598
Issuance of Class B ordinary shares for debt extinguishment 72
Issuance of Class B ordinary shares for acquisition of Neurovia AI Limited 68,600
Issuance of Class B ordinary shares for acquisition of QC Capital Limited 38,735
Issuance of Class B ordinary shares for acquisition of factory usage rights 295
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid