CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 334,851	$ 259,759
Restricted cash	703	685
Investments	31,011	42,674
Accounts receivable, net	59,818	57,313
Inventories	176,361	172,489
Prepayments and other current assets	19,245	14,672
Total current assets	621,989	547,592
Non-current assets
Operating lease right-of-use assets	425,536	451,930
Property and equipment, net	33,311	29,498
Intangible assets, net	5,283	6,198
Goodwill	12,586	12,586
Deferred tax assets	11,021	10,026
Other non-current assets	14,385	12,645
Total non-current assets	502,122	522,883
Total assets	1,124,111	1,070,475
Current liabilities
Accounts payable	79,460	78,163
Contract liabilities	5,233	4,486
Current operating lease liabilities	99,887	88,521
Income tax payable	11,589	13,615
Accrued expenses and other current liabilities	103,458	79,594
Total current liabilities	299,627	264,379
Non-current liabilities
Operating lease liabilities, non-current	361,122	395,235
Deferred tax liabilities	732	941
Finance lease obligations, non-current	662	382
Non-current income tax payable	4,653	4,321
Total non-current liabilities	367,169	400,879
Total liabilities	666,796	665,258
Commitments and contingencies	0	0
Shareholders’ equity
Treasury shares, at cost (835,661 and 609,390 shares held as of September 30, 2025 and December 31, 2024, respectively)	(18,639)	(11,816)
Additional paid-in capital	94,674	120,262
Accumulated other comprehensive income (loss)	1,859	(4,136)
Retained earnings	377,517	298,861
Total shareholders’ equity	457,315	405,217
Total liabilities and shareholders’ equity	1,124,111	1,070,475
Class A ordinary shares
Shareholders’ equity
Common stock issued	1,501	1,643
Class B ordinary shares
Shareholders’ equity
Common stock issued	$ 403	$ 403