XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net (loss)/profit $ (45,757) $ (113,134)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on disposal of property, plant and equipment 412 810
Gain on debt restructuring (792) (8,157)
Interest expense 0 2,248
Depreciation of property, plant and equipment 24,169 22,442
Amortization of land use right and intangible assets 578 581
Noncash lease expenses 1,962 2,004
Share-based compensation 2,277 30,289
Changes in fair value of warrant liability and convertible loan 91,002 (1,240)
Allowance of credit losses 1,844 (237)
Write-down for obsolete inventories 4,724 3,032
Impairment loss of long-lived assets 1,400 88,039
Product warranty 13,376 10,353
Changes in operating assets and liabilities:    
Notes receivable (18,270) 9,162
Accounts receivable (22,960) 18,157
Inventories 17,382 (4,144)
Prepaid expenses and other current assets 7,568 2,340
Amounts due to related parties (5) 0
Operating lease right-of-use assets (621) (1,821)
Other non-current assets 1,070 9,037
Notes payable 4,225 (7,490)
Accounts payable (6,813) (46,882)
Advance from customers (38,176) (197)
Accrued expenses and other liabilities 20,289 (25,289)
Operating lease liabilities (1,181) (869)
Other non-current liabilities 1,783 7,679
Net cash generated from/(used in) operating activities 59,486 (3,287)
Cash flows from investing activities    
Purchases of property, plant and equipment (19,191) (27,366)
Proceeds on disposal of property, plant and equipment 3,736 9,830
Proceeds from maturity of short-term investments 0 5,564
Net cash used in investing activities (15,455) (11,972)
Cash flows from financing activities    
Proceeds from borrowings 70,050 70,373
Repayment of bank borrowings (65,965) (31,824)
Convertible loan 0 25,000
Repayment of bonds payable (1,375) 0
Payment for debt issue costs 0 (525)
Deferred payment related to purchases of property, plant and equipment (12,254) (16,389)
Net cash (used in)/ generated from financing activities (9,544) 46,635
Effect of exchange rate changes (1,461) (4,598)
Increase in cash, cash equivalents and restricted cash 33,026 26,778
Cash, cash equivalents and restricted cash at beginning of the period 109,601 88,189
Cash, cash equivalents and restricted cash at end of the period 142,627 114,967
Cash and cash equivalents 90,748 63,585
Restricted cash 51,879 51,382
Total cash, cash equivalents and restricted cash 142,627 114,967
Non-cash investing and financing activities    
Payable for purchase of property, plant and equipment $ 43,249 $ 59,408