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Long-term Investments (Tables) | 12 Months Ended
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Dec. 31, 2025
Long-term Investments |
Schedule of changes in the Group's long-term investments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Equity Securities | ​ | ​ | ​ | ​ | Equity Securities With | ​ | ​ | ​
​ | ​ | Without Readily | ​ | ​ | ​ | ​ | Readily Determinable | ​ | ​ | ​
​ | ​ ​ ​ | Determinable Fair Values | ​ ​ ​ | Equity Method | ​ ​ ​ | Fair Values | ​ ​ ​ | Total
​ | ​ | (In US$ thousands)
Balance at December 31, 2022 | ​ | $ | 196,579 | ​ | $ | 557,501 | ​ | $ | 239,550 | ​ | $ | 993,630
Investments made/transfers from prepayments | ​ | ​ | 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
Investments made/transfers from prepayments/other non-current assets | ​ | ​ | 136,985 | ​ | ​ | 25,838 | ​ | ​ | — | ​ | ​ | 162,823
Loss from equity method investments, net | ​ | ​ | — | ​ | ​ | (12,170) | ​ | ​ | — | ​ | ​ | (12,170)
Dividend declared from equity method investments | ​ | ​ | — | ​ | ​ | (10,269) | ​ | ​ | — | ​ | ​ | (10,269)
Disposal of investments | ​ | ​ | (2,228) | ​ | ​ | (21,811) | ​ | ​ | — | ​ | ​ | (24,039)
Impairment on investments | ​ | ​ | (38,689) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (38,689)
Fair value change through earnings | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 18,564 | ​ | ​ | 18,564
Currency translation adjustment | ​ | ​ | (1,383) | ​ | ​ | (26,024) | ​ | ​ | — | ​ | ​ | (27,407)
Balance at December 31, 2024 | ​ | ​ | 295,975 | ​ | ​ | 956,392 | ​ | ​ | 136,832 | ​ | ​ | 1,389,199
Investments made/transfers from prepayments/other non-current assets | ​ | ​ | 357 | ​ | ​ | 186,038 | ​ | ​ | — | ​ | ​ | 186,395
Income from equity method investments, net | ​ | ​ | — | ​ | ​ | 76,666 | ​ | ​ | — | ​ | ​ | 76,666
Dividend declared from equity method investments | ​ | ​ | — | ​ | ​ | (12,807) | ​ | ​ | — | ​ | ​ | (12,807)
Disposal of investments | ​ | ​ | (522) | ​ | ​ | (23,460) | ​ | ​ | — | ​ | ​ | (23,982)
Impairment on investments | ​ | ​ | (5,972) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (5,972)
Fair value change through earnings | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 21,258 | ​ | ​ | 21,258
Currency translation adjustment | ​ | ​ | 1,854 | ​ | ​ | 30,735 | ​ | ​ | — | ​ | ​ | 32,589
Balance at December 31, 2025 | ​ | $ | 291,692 | ​ | $ | 1,213,564 | ​ | $ | 158,090 | ​ | $ | 1,663,346
Schedule of the total carrying value of the equity investments accounted for under the measurement alternative | ​
​ | ​ | ​ | ​
​ | ​ ​ ​ | Cumulative Results
​ | ​ | (In US$ thousands)
Initial cost basis | ​ | $ | 824,481
Upward adjustments | ​ | ​ | 92,736
Downward adjustments | ​ | ​ | (618,408)
Foreign currency translation | ​ | ​ | (2,834)
Total carrying value at December 31, 2024 | ​ | $ | 295,975
​ | ​ | ​ | ​
Initial cost basis | ​ | $ | 824,316
Upward adjustments | ​ | ​ | 92,736
Downward adjustments | ​ | ​ | (624,380)
Foreign currency translation | ​ | ​ | (980)
Total carrying value at December 31, 2025 | ​ | $ | 291,692
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)
Didi | ​ | $ | 142,000 | ​ | $ | — | ​ | $ | (5,168) | ​ | $ | 136,832
December 31, 2024 | ​ | $ | 142,000 | ​ | $ | — | ​ | $ | (5,168) | ​ | $ | 136,832
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Didi | ​ | $ | 142,000 | ​ | $ | 16,090 | ​ | $ | — | ​ | $ | 158,090
December 31, 2025 | ​ | $ | 142,000 | ​ | $ | 16,090 | ​ | $ | — | ​ | $ | 158,090
Summary of condensed financial information on equity method investments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Year ended December 31,
​ | ​ | 2023 | ​ ​ ​ | 2024 | ​ ​ ​ | 2025
​ | ​ | (In US$ thousands)
Operating data: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Revenue | ​ | $ | 850,102 | ​ | $ | 744,438 | ​ | $ | 724,635
Gross profit | ​ | $ | 298,736 | ​ | $ | 159,383 | ​ | $ | 248,742
Income (loss) from operations | ​ | $ | 12,153 | ​ | $ | (35,142) | ​ | $ | 261,453
Net income (loss) | ​ | $ | 8,188 | ​ | $ | (72,168) | ​ | $ | 226,200
Net income (loss) attributable to the investees’ shareholders | ​ | $ | 9,856 | ​ | $ | (68,129) | ​ | $ | 227,062
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ ​ ​ | 2024 | ​ ​ ​ | 2025
​ |  | (In US$ thousands)
Balance sheet data: |  | ​ | ​ |  | ​ | ​
Current assets | ​ | $ | 1,833,099 | ​ | $ | 2,105,598
Non-current assets | ​ | $ | 2,770,207 | ​ | $ | 3,388,111
Current liabilities | ​ | $ | 1,310,409 | ​ | $ | 1,297,642
Long-term liabilities | ​ | $ | 4,230 | ​ | $ | 168,023
Non-controlling interests | ​ | $ | (4,121) | ​ | $ | (2,387)

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