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CONSOLIDATED BALANCE SHEETS
¥ in Thousands, $ in Thousands
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Current assets:    
Cash and cash equivalents $ 2,627,410 $ 3,171,800
Accounts receivable, net 676,278 358,027
Inventories, net 494,986 416,122
Prepaid expenses and other current assets 192,919 257,465
Total current assets 3,991,593 4,203,414
Investment in wholly owned subsidiaries 1,578,423 1,324,154
Operating lease right-of-use assets 139,309 95,207
Intangible assets, net 51,095 57,138
Other non-current assets 160,490 125,362
Total non-current assets 1,929,317 1,601,861
Total assets 5,920,910 5,805,275
Current liabilities:    
Accounts payable 404,997 315,111
Accrued expenses and other payables 803,713 693,731
Tax payable 25,930 22,951
Operating lease liabilities, current portion 17,576 21,950
Research and development cost share liability, current portion 111,154 68,004
Short-term debt 851,529 688,366
Total current liabilities 2,214,899 1,810,113
Non-current liabilities:    
Long-term debt 166,484 197,618
Operating lease liabilities, non-current portion 44,277 22,251
Deferred tax liabilities 42,007 16,494
Research and development cost share liability, non-current portion 54,286 170,662
Other long-term liabilities 66,735 50,810
Total non-current liabilities 373,789 457,835
Total liabilities 2,588,688 2,267,948
Commitments and contingencies
Shareholders’ equity:    
Ordinary shares, 0.0001 par value per share; 9,500,000,000 shares authorized; 1,387,367,704 and 1,359,513,224 shares issued and outstanding as of December 31, 2024 and 2023, respectively 138 135
Additional paid-in capital 12,087,908 11,598,688
Accumulated other comprehensive loss (148,988) (99,446)
Accumulated deficit (8,606,836) (7,962,050)
Total shareholders’ equity 3,332,222 3,537,327
Total liabilities and shareholders’ equity $ 5,920,910 $ 5,805,275