v3.26.1
Concentration Risk
 12 Months Ended
Dec. 31, 2025
Concentration Risk [Abstract]  
CONCENTRATION RISK
20. CONCENTRATION RISK

 

Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of accounts receivable. The Group conducts credit evaluations of its customers and generally does not require collateral or other security from them. The Group evaluates its collection experience and long outstanding balances to determine the need for an allowance for credit losses. The Group conducts periodic reviews of the financial condition and payment practices of its customers to minimize collection risk on accounts receivable.

 

The following table sets forth a summary of single customer who represent 10% or more of the Group’s total revenue.

 

   For the years ended December 31, 
   2023   2024   2025 
Percentage of the Group’s total revenue            
Customer A   19%   19%   25%
Customer B   18%   12%   * 
Customer C   11%   14%   15%

 

The following table sets forth a summary of single customer who represent 10% or more of the Group’s total accounts receivable:

 

    As of December 31,  
    2024     2025  
Percentage of the Group’s accounts receivable            
Customer D     16 %     13 %
Customer E     10 %     12 %
Customer F     15 %     * %
Customer G     22 %     * %

 

The following table sets forth a summary of each supplier who represent 10% or more of the Group’s total purchase:

 

   For the years ended December 31, 
   2023   2024   2025 
Percentage of the Group’s total purchase            
Supplier A   17%   12%   15%
Supplier B   23%   19%   13%

 

* represent percentage less than 10%