v3.26.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2025
Summary of Significant Accounting Policies [Abstract]  
Schedule of Estimated Useful Lives Estimated useful lives and residual value are as follows:
Category   Estimated useful lives
Vehicles   3-5 years
Office equipment and furniture   3-5 years
Electronic equipment   3 years
Building   20 years
Computer software   5, 10 years
Leasehold improvements   Over the shorter of lease term or the estimated useful lives of the assets
Schedule of Fair Value Measurements of Liabilities

The following table details the fair value measurements of liabilities that were measured at fair value on a recurring basis based on the following three-tiered fair value hierarchy per ASC 820, Fair Value Measurement, as of December 31, 2024 and 2025.

 

    Fair Value Measurement  
    Level 1     Level 2     Level 3     Total fair value  
Warrant liabilities:                        
As of December 31, 2024   $        -     $      -     $ 947     $ 947  

 

    Fair Value Measurement  
    Level 1     Level 2     Level 3     Total fair value  
Warrant liabilities:                        
As of December 31, 2025   $        -     $      -     $ 50     $ 50  
Schedule of Fair value on a Recurring Basis Using Significant Unobservable Inputs The changes for Level 3 items measured at fair value on a recurring basis using significant unobservable inputs are as follows:
   Private
Warrants
 
Fair value as of December 31, 2023  $661 
Settlements   
-
 
Change in fair value   286 
Fair value as of December 31, 2024  $947 
      
Fair value as of December 31, 2024  $947 
Settlements   
-
 
Change in fair value   (897)
Fair value as of December 31, 2025  $50 
Schedule of Unobservable Inputs Used in the Measurement of Fair Value of Private Warrant

The significant unobservable inputs used in the measurement of fair value of Private Warrant as of December 31, 2024 and 2025 are as follows:

  

   As of
December 31,
2024
   As of
December 31,
2025
 
Expected term (in years)   3.38    2.38 
Volatility   82.07%   67.57%
Risk-free interest rate   4.30%   3.48%
Dividend yield   
-
    
-
 
Schedule of Revenues Disaggregated by Timing of Revenue Recognition

The Group’s revenues are disaggregated by timing of revenue recognition as follows:

 

   For the years ended
December 31,
 
   2023   2024   2025 
Revenue recognized at a point of time  $333,088   $397,005   $435,672 
Revenue recognized over time   30,658    44,892    53,619 
Revenues  $363,746   $441,897   $489,291 
Schedule of Currency Exchange Rates The following table outlines the currency exchange rates that were used in creating the consolidated financial statements:
   As of December 31, 
   2024   2025 
Balance sheet items, except for equity accounts   7.2993    6.9931 

 

   For the years ended December 31, 
   2023   2024   2025 
Items in the statements of operations and comprehensive (loss)/income, and statements of cash flows   7.0809    7.1957    7.1875