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Long-term Investments (Tables) | 12 Months Ended
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Dec. 31, 2023
Long-term Investments |
Schedule of changes in the Group's long-term investments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ |  | ​ |  | ​ | ​ |  | ​
​ | ​ | Equity Securities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Without Readily | ​ | ​ | ​ | ​ | Equity Securities With | ​ | ​ | ​
​ | ​ | Determinable Fair | ​ | ​ | ​ | ​ | Readily Determinable | ​ | ​ | ​
​ |  | Values |  | Equity Method |  | Fair Values |  | Total
​ | ​ | (In US$ thousands)
Balance at December 31, 2020 | ​ | $ | 579,084 | ​ | $ | 311,161 | ​ | $ | 289,221 | ​ | $ | 1,179,466
Investments made/transfers from prepayments | ​ | ​ | 96,768 | ​ | ​ | 182,200 | ​ | ​ | — | ​ | ​ | 278,968
Income from equity method investments, net | ​ | ​ | — | ​ | ​ | 14,217 | ​ | ​ | — | ​ | ​ | 14,217
Dividend declared from equity method investments | ​ | ​ | — | ​ | ​ | (11,695) | ​ | ​ | — | ​ | ​ | (11,695)
Disposal of investments | ​ | ​ | (75,667) | ​ | ​ | — | ​ | ​ | (4,946) | ​ | ​ | (80,613)
Changes from measurement alternative to consolidation (Note 6) | ​ | ​ | (66,415) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (66,415)
Reclassification of equity investment without readily determinable fair values to those with readily determinable fair values | ​ | ​ | (142,000) | ​ | ​ | — | ​ | ​ | 142,000 | ​ | ​ | —
Impairment on investments | ​ | ​ | (106,800) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (106,800)
Fair value change through earnings | ​ | ​ | (23,316) | ​ | ​ | — | ​ | ​ | 9,877 | ​ | ​ | (13,439)
Currency translation adjustment | ​ | ​ | 7,062 | ​ | ​ | 6,900 | ​ | ​ | — | ​ | ​ | 13,962
Balance at December 31, 2021 | ​ | ​ | 268,716 | ​ | ​ | 502,783 | ​ | ​ | 436,152 | ​ | ​ | 1,207,651
Investments made/transfers from prepayments | ​ | ​ | 36,423 | ​ | ​ | 114,909 | ​ | ​ | — | ​ | ​ | 151,332
Loss from equity method investments, net | ​ | ​ | — | ​ | ​ | (24,069) | ​ | ​ | — | ​ | ​ | (24,069)
Dividend declared from equity method investments | ​ | ​ | — | ​ | ​ | (5,772) | ​ | ​ | — | ​ | ​ | (5,772)
Disposal of investments | ​ | ​ | (29,974) | ​ | ​ | (6,293) | ​ | ​ | — | ​ | ​ | (36,267)
Impairment on investments | ​ | ​ | (63,515) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (63,515)
Fair value change through earnings | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (196,602) | ​ | ​ | (196,602)
Currency translation adjustment | ​ | ​ | (15,071) | ​ | ​ | (24,057) | ​ | ​ | — | ​ | ​ | (39,128)
Balance at December 31, 2022 | ​ | ​ | 196,579 | ​ | ​ | 557,501 | ​ | ​ | 239,550 | ​ | ​ | 993,630
Investments made/transfers from prepayments/other non-current assets | ​ | ​ | 70,864 | ​ | ​ | 303,845 | ​ | ​ | — | ​ | ​ | 374,709
Income from equity method investments, net | ​ | ​ | — | ​ | ​ | 13,392 | ​ | ​ | — | ​ | ​ | 13,392
Dividend declared from equity method investments | ​ | ​ | — | ​ | ​ | (4,683) | ​ | ​ | — | ​ | ​ | (4,683)
Disposal of investments | ​ | ​ | (3,463) | ​ | ​ | (14,250) | ​ | ​ | — | ​ | ​ | (17,713)
Changes from measurement alternative to consolidation (Note 6) | ​ | ​ | (43,988) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (43,988)
Reclassification of equity investment with readily determinable fair value to equity-method investment | ​ | ​ | — | ​ | ​ | 153,407 | ​ | ​ | (153,407) | ​ | ​ | —
Impairment on investments | ​ | ​ | (25,706) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (25,706)
Fair value change through earnings | ​ | ​ | 10,877 | ​ | ​ | — | ​ | ​ | 32,125 | ​ | ​ | 43,002
Currency translation adjustment | ​ | ​ | (3,873) | ​ | ​ | (8,384) | ​ | ​ | — | ​ | ​ | (12,257)
Balance at December 31, 2023 | ​ | $ | 201,290 | ​ | $ | 1,000,828 | ​ | $ | 118,268 | ​ | $ | 1,320,386
Schedule of the total carrying value of the equity investments accounted for under the measurement alternative | The following table summarizes the total carrying value of the equity investments accounted for under the measurement alternative as of December 31, 2022 and 2023, respectively, including cumulative upward and downward adjustments made to the initial cost basis of the securities.
​ | ​ | ​ | ​
​ |  | Cumulative Results
​ | ​ | (In US$ thousands)
Initial cost basis | ​ | $ | 662,460
Upward adjustments | ​ | ​ | 85,710
Downward adjustments | ​ | ​ | (554,013)
Foreign currency translation | ​ | ​ | 2,422
Total carrying value at December 31, 2022 | ​ | $ | 196,579
​ | ​ | ​ | ​
Initial cost basis | ​ | $ | 689,724
Upward adjustments | ​ | ​ | 92,736
Downward adjustments | ​ | ​ | (579,719)
Foreign currency translation | ​ | ​ | (1,451)
Total carrying value at December 31, 2023 | ​ | $ | 201,290
Schedule of the carrying amount and fair value of the marketable security | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Cost | ​ | Unrealized | ​ | Unrealized | ​ | Fair
​ |  | Basis |  | Gains |  | Losses |  | Value
​ |  | (In US$ thousands)
INMYSHOW | ​ | $ | 81,385 | ​ | $ | 62,952 | ​ | $ | — | ​ | $ | 144,337
Didi | ​ | ​ | 142,000 | ​ | ​ | — | ​ | ​ | (46,787) | ​ | ​ | 95,213
December 31, 2022 | ​ | $ | 223,385 | ​ | $ | 62,952 | ​ | $ | (46,787) | ​ | $ | 239,550
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Didi | ​ | $ | 142,000 | ​ | $ | — | ​ | $ | (23,732) | ​ | $ | 118,268
December 31, 2023 | ​ | $ | 142,000 | ​ | $ | — | ​ | $ | (23,732) | ​ | $ | 118,268
Summary of condensed financial information on equity method investments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year ended December 31,
​ | ​ | 2021 |  | 2022 |  | 2023
​ | ​ | (In US$ thousands)
Operating data: |  | ​ |  |  | ​ |  |  | ​ |
Revenue | ​ | $ | 225,356 | ​ | $ | 158,110 | ​ | $ | 850,102
Gross profit | ​ | $ | 206,457 | ​ | $ | 129,393 | ​ | $ | 298,736
Income (loss) from operations | ​ | $ | 243,516 | ​ | $ | (195,636) | ​ | $ | 12,153
Net income (loss) | ​ | $ | 247,808 | ​ | $ | (200,042) | ​ | $ | 8,188
Net income (loss) attributable to the investees | ​ | $ | 247,808 | ​ | $ | (200,042) | ​ | $ | 9,856
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ |  | 2022 |  | 2023
​ |  | (In US$ thousands)
Balance sheet data: |  | ​ |  |  | ​ |
Current assets | ​ | $ | 904,956 | ​ | $ | 1,803,408
Non-current assets | ​ | $ | 2,417,452 | ​ | $ | 2,568,567
Current liabilities | ​ | $ | 683,626 | ​ | $ | 1,199,969
Long-term liabilities | ​ | $ | 119 | ​ | $ | 16,879
Non-controlling interests | ​ | $ | — | ​ | $ | (4,849)
​

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