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Borrowings (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Short-Term Debt

The following table presents the Company’s short-term debt and weighted-average interest rate per annum ($ in thousands):

			March 31, 2026												December 31, 2025
Bank of China Working Capital Loans			2.20		%				69,298						2.36		%				69,427
SPD Bank Working Capital Loans			2.50		%				14,452						2.80		%				28,454
China Merchants Bank Working Capital Loans			2.64		%				57,809						2.65		%				42,683
Bank of Communications Working Capital Loans			2.50		%				43,356						2.75		%				42,682
Ningbo Bank Discounted Bills			1.60		%				—						1.60		%				7,057
Industrial Bank Working Capital Loans			2.55		%				28,904						2.60		%				14,227
Total short-term debt			2.45		%				213,819						2.55		%				204,530

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- References

No definition available.

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- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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