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PROPERTY, PLANT AND EQUIPMENT, NET (Tables)
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment

 

 

Office and computer equipment

 

 

Factory equipment

 

 

Leasehold improvements

 

 

Total

 

 Cost

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2023

 

 

28,125

 

 

 

53,664

 

 

 

38,328

 

 

 

120,117

 

Additions

 

 

866

 

 

 

375

 

 

 

159

 

 

 

1,400

 

Disposals

 

 

(1,003

)

 

 

(4,709

)

 

 

(2

)

 

 

(5,714

)

Exchange differences

 

 

(580

)

 

 

(3,146

)

 

 

(1,677

)

 

 

(5,403

)

At December 31, 2024

 

 

27,408

 

 

 

46,184

 

 

 

36,808

 

 

 

110,400

 

Additions

 

 

848

 

 

 

467

 

 

 

224

 

 

 

1,539

 

Impairment (1)

 

 

-

 

 

 

-

 

 

 

(3,360

)

 

 

(3,360

)

Disposals

 

 

(671

)

 

 

(1,002

)

 

 

(16

)

 

 

(1,689

)

Exchange differences

 

 

(63

)

 

 

1,229

 

 

 

971

 

 

 

2,137

 

At December 31, 2025

 

 

27,522

 

 

 

46,878

 

 

 

34,627

 

 

 

109,027

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated depreciation and impairment

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2023

 

 

22,562

 

 

 

39,908

 

 

 

32,570

 

 

 

95,040

 

Depreciation expense

 

 

1,778

 

 

 

2,491

 

 

 

1,190

 

 

 

5,459

 

Disposals

 

 

(877

)

 

 

(4,780

)

 

 

(2

)

 

 

(5,659

)

Exchange differences

 

 

(592

)

 

 

(2,403

)

 

 

(1,644

)

 

 

(4,639

)

At December 31, 2024

 

 

22,871

 

 

 

35,216

 

 

 

32,114

 

 

 

90,201

 

Depreciation expense

 

 

1,360

 

 

 

2,198

 

 

 

1,151

 

 

 

4,709

 

Impairment (1)

 

 

-

 

 

 

-

 

 

 

(1,036

)

 

 

(1,036

)

Disposals

 

 

(657

)

 

 

(806

)

 

 

(15

)

 

 

(1,478

)

Exchange differences

 

 

(105

)

 

 

865

 

 

 

941

 

 

 

1,701

 

At December 31, 2025

 

 

23,469

 

 

 

37,473

 

 

 

33,155

 

 

 

94,097

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net book value

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2024

 

 

4,537

 

 

 

10,968

 

 

 

4,694

 

 

 

20,199

 

At December 31, 2025

 

 

4,053

 

 

 

9,405

 

 

 

1,472

 

 

 

14,930

 

(1)
Effective December 30, 2025, the Company entered into an agreement for an early termination of the lease at the Rock Hill Facility. As such, the remaining leasehold improvements were measured at the lower of the net book value versus the fair value less cost to sell resulting in an impairment charge of $2.3 million during 2025 (Refer to Note 5).
Schedule of Impairment Charge

The following table presents a reconciliation of the impairment charge incurred for the year ended December 31, 2025:

 

 

 

For the Year Ended December 31,

 

 

 

2025

 

Cost of impaired leasehold improvements

 

 

3,360

 

Accumulated depreciation of impaired leasehold improvements

 

 

(1,036

)

Impairment charge

 

 

2,324