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Related Parties and Variable Interest Entity (Tables)
6 Months Ended
Jun. 30, 2024
Related Parties And Variable Interest Entity [Abstract]  
Schedule of Significant Related Party Transactions

The Company entered into the following significant related party transactions during the periods presented:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30, 2024

 

 

June 30, 2023

 

 

June 30, 2024

 

 

June 30, 2023

 

 

(in thousands of USD)

 

 

(in thousands of USD)

 

Revenue generated

 

$

20,880

 

 

$

27,663

 

 

$

34,167

 

 

$

46,774

 

Cost of revenue incurred, net

 

 

31,508

 

 

 

3,563

 

 

 

40,462

 

 

 

7,143

 

Marketing expenses incurred (cost reimbursed), net

 

 

(1,036

)

 

 

35

 

 

 

(2,941

)

 

 

97

 

General and administrative expenses incurred, net

 

 

7,953

 

 

 

7,602

 

 

 

14,381

 

 

 

16,043

 

Other income (loss), net

 

 

2,885

 

 

 

(433

)

 

 

2,679

 

 

 

(247

)

Schedule of Significant Balances Due From and Due To Related Parties

The Company had the following significant balances due from and due to related parties as of June 30, 2024 and December 31, 2023:

 

 

As of

 

 

June 30, 2024

 

 

December 31, 2023

 

 

(in thousands of USD)

 

Due from related parties

 

 

 

 

 

 

Receivables

 

$

54,585

 

 

$

63,723

 

Other current assets

 

 

8,672

 

 

 

 

Other non-current assets

 

 

143

 

 

 

4,243

 

Loan receivables

 

 

30,377

 

 

 

11,633

 

Due to related parties

 

 

 

 

 

 

Current portion of operating lease liabilities

 

 

1,899

 

 

 

6,426

 

Operating lease liabilities

 

 

 

 

 

14,852

 

NW Media Loan

 

 

 

 

 

3,800

 

Accounts payable

 

 

20,481

 

 

 

6,713

 

Contract liabilities

 

 

1

 

 

 

16,160

 

Other

 

 

146

 

 

 

243