SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2026


						Weighted		Weighted
				Weighted		average		remaining		Aggregate
		Number of		average		grant-date		contractual		intrinsic
		shares		exercise price		fair value		years		value
				US$		US$				US$
Outstanding at December 31, 2025		12,051,138		2.89		2.05		7.79		—

Granted		3,823,185		2.89		0.43		—		—
Forfeited		(1,203,162)		2.89		2.03		—		—

Outstanding at June 30, 2026		14,671,161		2.89		1.65		7.97		—
Vested and expected to vest as of June 30, 2026		14,671,161		2.89		1.65		7.97		—
Exercisable as of June 30, 2026		14,649,013		2.89		1.64		7.97		—

Schedule of compensation expenses


	Six Months Ended June 30,
	2026		2025
	US$		US$
Research and development expenses	187		950
Selling and marketing expenses	28		176
General and administrative expenses	1,419		1,089
	1,634		2,215

Schedule of assumptions of share options granted


		Six Months Ended June 30,
Grant dates:		2026		2025
Risk‑free interest rate ⁽ⁱ⁾		4.46%-4.47	%	4.20%-4.53	%
Expected volatility ⁽ⁱⁱ⁾		58.91%-59.18	%	55.58%-56.22	%
Expected dividend yield ⁽ⁱⁱⁱ⁾		0.00	%	0.00	%
Exercise multiple ^(iv)		2.20-2.80		2.20-2.80
Expected terms^(v)		10.00 years		10.00 years
Fair value of underlying ordinary share ^(vi)		US$1.33		US$1.87-US$3.61

(i)The risk-free interest rate was estimated based on the yield to maturity of U.S. treasury bonds denominated in US$ for a term consistent with the expected term of the Company’s options in effect at the valuation date.

(ii)The expected volatility was estimated based on the historical volatility of comparable peer public companies with a time horizon close to the expected term of the Company’s options.

(iii)Expected dividend yield is zero as the Company does not anticipate any dividend payments in the foreseeable future.

(iv)The expected exercise multiple was estimated as the average ratio of the stock price to the exercise price of when employees or nonemployees would decide to voluntarily exercise their vested options. As the Company did not have sufficient information of past employees or nonemployees exercise history, it was estimated by referencing to a widely-accepted academic research publication.

(v)Expected term is the contract life of the share options.

(vi)The estimated fair value was determined using the discounted cash flow method based on the equity allocation model before the consummation of the Merger Transaction, and open market price after the consummation of the Merger Transaction, respectively.