v3.26.3
Borrowings (Tables)
 6 Months Ended
Jun. 30, 2026
Short-Term Debt [Abstract]  
Schedule of borrowings
Borrowings consisted of the following:

As of December 31,As of June 30,
20252026
Short-term bank borrowings310,587 430,174 
Long-term bank borrowings due within one year72 14,670 
Total short-term borrowings310,659 444,844 
Long-term borrowings5,659 127,881 
Less: long-term borrowings due within one year(72)(14,670)
Less: capitalization of debt issuance costs— (1,392)
Total long-term borrowings5,587 111,819 
Borrowings as of December 31, 2025 and June 30, 2026 were secured by the following:

December 31, 2025

Short-term borrowingsSecured by
310,587 Unsecured borrowing.
Long-term borrowings (including current portion)Secured by
5,659 Unsecured borrowing.
316,246 
June 30, 2026

Short-term borrowingsSecured by
430,174 Unsecured borrowing.
Long-term borrowings (including current portion)Secured by
8,766 Unsecured borrowing.
119,115 Secured by a pledge over 100% of the equity interests in Hubei Qiguang. Hubei Qiguang also provided an irrevocable joint and several guarantee in respect of the obligations of the Group under the Loan Agreement.
558,055 
Schedule of maturities of borrowings
As of June 30, 2026, the aggregate maturities of long-term borrowings (including current portion) outstanding were as follows:

Amount
US$
Year ending June 30, 202714,670 
Year ending June 30, 202817,690 
Year ending June 30, 202914,732 
Year ending June 30, 203017,678 
Year ending June 30, 203117,678 
Thereafter 45,433 
Total long-term borrowings (including current portion)127,881