v3.26.1
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, 2022 $ 446,986,892 $ 22,213 $ 976 $ (2,172,819) $ 495,705,684 $ 6,171,627 $ 2,231,411 $ (50,366,734) $ (142,644)
Beginning balance (in shares) at Dec. 31, 2022   2,221,403,067 97,611,722            
Begining 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        
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          
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          
Changes in equity                  
Retrospective application $ 2,294,229             2,294,229  
Issuance of Class A ordinary shares upon settlement of share-based awards (in shares)   37,491,475              
Issuance of Class A ordinary shares upon settlement of share-based awards 100,897 $ 375     100,522        
Share-based compensation 15,609,141       15,605,180       3,961
Provision of statutory reserve           3,161,586   (3,161,586)  
Foreign currency translation adjustment 19,154,156           19,166,149   (11,993)
Unrealized (loss) gain on available-for-sale securities 2,207,391           2,207,391    
Accretion of redeemable non-controlling interests (561,251)       (533,188)       (28,063)
Net income (loss) 171,481,621             171,432,725 48,896
Ending balance at Dec. 31, 2025 $ 865,232,265 $ 25,802 $ 976 $ (2,172,819) $ 634,203,244 $ 15,587,049 $ 9,454,230 $ 208,408,915 $ (275,132)
Ending balance (in shares) at Dec. 31, 2025   2,580,205,825 97,611,722            
Ending balance (in shares) at Dec. 31, 2025 10,429,305     10,429,305