XML 19 R6.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
Total
Ordinary shares
Class A ordinary shares
Ordinary shares
Class B ordinary shares
Treasury stock purchases
Additional paid in capital
Statutory Reserves
Accumulated other comprehensive income (loss)
(Accumulated deficit)/retained earnings
Non-controlling interests
Beginning balance at Dec. 31, 2021 $ 446,625,868 $ 20,599 $ 2,221 $ (2,172,819) $ 484,335,291 $ 3,562,888 $ 6,665,819 $ (45,788,131)  
Beginning balance (ASU 2020-06) at Dec. 31, 2021 (3,009,656)       (3,167,457)     157,801  
Beginning balance (in shares) at Dec. 31, 2021   2,059,987,139 222,111,722            
Begining balance (in shares) at Dec. 31, 2021       10,429,305          
Changes in equity                  
Issuance of Class A ordinary shares upon settlement of share-based awards (in shares)   36,915,928              
Issuance of Class A ordinary shares upon settlement of share-based awards 366,537 $ 369     366,168        
Class B ordinary shares converted into Class A ordinary shares (in shares)   124,500,000 (124,500,000)            
Class B ordinary shares converted into Class A ordinary shares   $ 1,245 $ (1,245)            
Share-based compensation 14,213,841       14,212,067       $ 1,774
Provision of statutory reserve           2,608,739   (2,608,739)  
Foreign currency translation adjustment (8,130,208)           (8,128,640)   (1,568)
Unrealized (loss) gain on available-for-sale securities (768,590)           (768,590)    
Accretion of redeemable non-controlling interests (61,870)       (58,776)       (3,094)
Capital contribution from non-controlling interests 7,850       18,391       (10,541)
Net income (loss) (2,256,880)             (2,127,665) (129,215)
Ending balance at Dec. 31, 2022 446,986,892 $ 22,213 $ 976 $ (2,172,819) 495,705,684 6,171,627 (2,231,411) (50,366,734) (142,644)
Ending balance (in shares) at Dec. 31, 2022   2,221,403,067 97,611,722            
Ending balance (in shares) at Dec. 31, 2022       10,429,305          
Changes in equity                  
Issuance of Class A ordinary shares upon settlement of share-based awards (in shares)   31,489,778              
Issuance of Class A ordinary shares upon settlement of share-based awards 140,383 $ 315     140,068        
Class B ordinary shares converted into Class A ordinary shares (in shares)   0 0            
Class B ordinary shares converted into Class A ordinary shares   $ 0 $ 0            
Share-based compensation 10,147,362       10,144,515       2,847
Provision of statutory reserve           2,339,412   (2,339,412)  
Foreign currency translation adjustment (545,498)           (551,257)   5,759
Unrealized (loss) gain on available-for-sale securities (450,325)           (450,325)    
Accretion of redeemable non-controlling interests (570,723)       (542,187)       (28,536)
Net income (loss) 33,007,427             33,105,712 (98,285)
Ending balance at Dec. 31, 2023 $ 488,715,518 $ 22,528 $ 976 $ (2,172,819) 505,448,080 8,511,039 (3,232,993) (19,600,434) (260,859)
Ending balance (in shares) at Dec. 31, 2023   2,252,892,845 97,611,722            
Ending balance (in shares) at Dec. 31, 2023 10,429,305     10,429,305          
Changes in equity                  
Issuance of Class A ordinary shares upon settlement of share-based awards (in shares)   31,071,505              
Issuance of Class A ordinary shares upon settlement of share-based awards $ 85,110 $ 311     84,799        
Issuance of ordinary shares upon follow-on public offering (in shares)   258,750,000              
Issuance of ordinary shares upon follow-on public offering 104,397,012 $ 2,588     104,394,424        
Share-based compensation 9,736,901       9,733,912       2,989
Provision of statutory reserve           3,914,424   (3,914,424)  
Foreign currency translation adjustment (9,022,611)           (9,030,209)   7,598
Unrealized (loss) gain on available-for-sale securities 343,892           343,892    
Accretion of redeemable non-controlling interests (663,669)       (630,485)       (33,184)
Net income (loss) 61,353,928             61,358,405 (4,477)
Ending balance at Dec. 31, 2024 $ 654,946,081 $ 25,427 $ 976 $ (2,172,819) $ 619,030,730 $ 12,425,463 $ (11,919,310) $ 37,843,547 $ (287,933)
Ending balance (in shares) at Dec. 31, 2024   2,542,714,350 97,611,722            
Ending balance (in shares) at Dec. 31, 2024 10,429,305     10,429,305