v3.26.1
FAIR VALUE MEASUREMENT (Tables)
12 Months Ended
Dec. 31, 2025
FAIR VALUE MEASUREMENT  
Schedule of major financial instruments measured at fair value, by level within the fair value hierarchy

Fair Value Measurement at Reporting Date Using

Quoted Prices 

Significant 

in Active 

Other

Significant 

Fair Value as of 

Markets for

Observable

Unobservable

December 31, 

Identical Assets

Inputs

Inputs

2025

(Level 1)

(Level 2)

(Level 3)

  ​ ​ ​

US$

  ​ ​ ​

US$

  ​ ​ ​

US$

  ​ ​ ​

US$

 Assets

 

  ​

 

  ​

 

  ​

 

  ​

Investment securities

 

1,811

1,811

Liabilities

 

 

 

 

Warrant liabilities

800

800

Convertible notes

276,604

276,604

Exchangeable notes

 

128,852

 

 

 

128,852

Fair Value Measurement at Reporting Date Using

Quoted Prices 

Significant 

in Active 

Other

Significant 

Fair Value as of 

Markets for

Observable

Unobservable

December 31, 

Identical Assets

Inputs

Inputs

2024

(Level 1)

(Level 2)

(Level 3)

  ​ ​ ​

US$

  ​ ​ ​

US$

  ​ ​ ​

US$

  ​ ​ ​

US$

 Assets

 

  ​

 

  ​

 

  ​

 

  ​

Investment securities

 

2,221

2,221

Securities pledged to an investor

315,796

315,796

Derivative asset

694

694

Liabilities

 

 

  ​

 

  ​

 

  ​

Put option liabilities

309,115

 

 

 

309,115

Warrant liabilities

3,340

 

1,996

 

 

1,344

Convertible notes

188,156

188,156

Exchangeable notes

 

102,999

 

 

 

102,999