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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Property and Equipment Useful Life

Property, plant and equipment, other than land and construction in progress, are depreciated using the straight-line method over the estimated useful lives of the respective assets as follows:


			Useful Lives
Building			20 years
Manufacturing equipment			3 to 10 years
Laboratory Equipment			3 to 5 years
Software, Electronic and Office Equipment			3 to 5 years
Leasehold Improvements			Lesser of useful life or lease term

Property, plant and equipment, net are recorded at cost less accumulated depreciation and consisted of the following:


	As of December 31,
	2024	2023
	$	$
Land	65,485	65,485
Building	607,857	231,656
Manufacturing equipment	244,255	186,856
Laboratory equipment	240,885	205,349
Software, electronics and office equipment	100,348	83,281
Leasehold improvements	64,680	60,124
Property and equipment, at cost	1,323,510	832,751
Less: Accumulated depreciation	(399,105)	(249,212)
Construction in progress	654,018	740,615
Property, plant and equipment, net	1,578,423	1,324,154

CIP by fixed asset class are summarized as follows:


	As of December 31,
	2024	2023
	$	$
Building	528,629	579,649
Manufacturing equipment	89,897	119,380
Laboratory equipment	9,805	16,135
Other	25,687	25,451
Total	654,018	740,615

Schedule of Component of Lease Expense

As of December 31, 2024, the Company held land use rights in the following regions:


			Terms
Guangzhou			50 years
Beijing			36 years
Suzhou			30 years
Shanghai			47 years

The components of lease expense were as follows:


	Year Ended December 31,
	2024	2023	2022
	$	$	$
Operating lease cost	26,575	25,978	25,938
Variable lease cost	4,580	6,101	6,834
Short-term lease cost	2,897	1,683	1,299
Total lease cost	34,052	33,762	34,071

Other supplemental information related to leases is summarized below:


	Year ended December 31,
	2024	2023	2022
	$	$	$
Operating cash flows used in operating leases	56,005	27,985	28,064
ROU assets obtained in exchange for new operating lease liabilities	47,066	11,854	22,278


	As of December 31,
	2024		2023
Weighted-average remaining lease term (years)	4		3
Weighted-average discount rate	5.23	%	7.22	%

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables set forth assets measured at fair value on a recurring basis as of December 31, 2024 and 2023:


As of December 31, 2024	Quoted Price in Active Market for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
	$	$	$
Cash equivalents:

Money market funds	950,704	—	—
Prepaid expenses and other current assets:
Convertible debt instrument	—	—	618
Other non-current assets:
Equity securities with readily determinable fair values	2,113	168	—
Convertible debt instrument	—	—	4,616
Total	952,817	168	5,234


As of December 31, 2023	Quoted Price in Active Market for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
	$	$	$


Cash equivalents

Money market funds	1,052,149	—	—
Prepaid expenses and other current assets:
U.S. Treasury securities	2,600	—	—
Convertible debt instrument	—	—	4,668
Other non-current assets:
Equity securities with readily determinable fair values	3,046	542	—
Convertible debt instrument	—	—	4,215
Total	1,057,795	542	8,883