| Schedule of Redeemable Non-controlling Interests |
The Series Angel and Pre-A preferred shares, which are redeemable by Beijing Xiangshang upon occurrence of certain events, are recorded as mezzanine equity in the consolidated balance sheets and consist of the following:
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Series Angel
preferred shares |
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Series Pre-A
preferred shares |
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Total |
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US$ |
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|
US$ |
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|
US$ |
|
Balance as of January 1, 2024 |
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5,007,271 |
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|
1,699,389 |
|
|
|
6,706,660 |
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Accretion of redeemable non-controlling interests |
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|
495,503 |
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168,166 |
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|
663,669 |
|
Foreign currency translation adjustment |
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|
(143,843 |
) |
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|
(48,818 |
) |
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|
(192,661 |
) |
Balance as of December 31, 2024 |
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|
5,358,931 |
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|
|
1,818,737 |
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|
|
7,177,668 |
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Accretion of redeemable non-controlling interests |
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|
524,955 |
|
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|
36,296 |
|
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|
561,251 |
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Foreign currency translation adjustment |
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|
227,974 |
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|
10,140 |
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|
238,114 |
|
Repurchase of preferred shares |
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(1,165,382 |
) |
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(1,865,173 |
) |
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|
(3,030,555 |
) |
Balance as of December 31, 2025 |
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|
4,946,478 |
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— |
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4,946,478 |
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