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Long-term Investments (Tables)

12 Months Ended

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)