v3.26.3
EXCHANGEABLE NOTES (Tables)
6 Months Ended
Jun. 30, 2026
Exchangeable notes  
EXCHANGEABLE NOTES  
Schedule of exchangeable notes

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  ​ ​ ​

Lightning

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Speed

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Kingway

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Exchangeable

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Exchangeable

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Notes

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Notes

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Total

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US$

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US$

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US$

Balance as of December 31, 2025

 

73,046

​

55,806

​

128,852

Changes in fair values of exchangeable notes, excluding impact of instrument-specific credit risk

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2,852

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1,189

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4,041

Changes in fair values of exchangeable notes due to the instrument-specific credit risk

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(3,606)

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(1,994)

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(5,600)

Settlement of exchangeable notes

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(74,628)

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(56,780)

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(131,408)

Foreign currency translation adjustment

​

2,336

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1,779

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4,115

Balance as of June 30, 2026

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—

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—

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—

Kingway Exchangeable Note  
EXCHANGEABLE NOTES  
Schedule of assumptions used in determination of fair value of Exchangeable Notes

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As of the settlement date

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Lightning Speed

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Kingway

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Exchangeable

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Exchangeable

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Notes

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Notes

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Risk‑free interest rates

 

1.06%-1.18

%

1.31%-1.35

%

Probability of conversion

 

50

%

75

%

Bond yield

 

21.44

%

19.65%-20.96

%

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