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FAIR VALUE MEASUREMENT (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of fair value measurements of the Group's assets that were measured at fair value on a recurring basis | As of December 31, 2023 and 2024, information about inputs for the fair value measurements of the Group’s assets that were measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows:
|  | As of December 31, 2024 |
|  | Quoted prices in active markets for identical instruments (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (level 3) |  |  | Total balance |
|  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |
Financial instruments held, at fair value |  |  |  |  |  |  |  |  |  |  |  |
Funds |  |  | 2,691,097 |  |  |  | 11,770,376 |  |  |  | 3,692,505 |  |  |  | 18,153,978 |
Bonds |  |  | 54,418,366 |  |  |  | — |  |  |  | — |  |  |  | 54,418,366 |
Stock |  |  | 2,270,679 |  |  |  | — |  |  |  | — |  |  |  | 2,270,679 |
Others |  |  | 704,059 |  |  |  | — |  |  |  | — |  |  |  | 704,059 |
Cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |  |
Funds |  |  | 4,023,182 |  |  |  | — |  |  |  | — |  |  |  | 4,023,182 |
Long‑term available-for-sale securities |  |  | — |  |  |  | — |  |  |  | 4,410,382 |  |  |  | 4,410,382 |
Total |  |  | 64,107,383 |  |  |  | 11,770,376 |  |  |  | 8,102,887 |  |  |  | 83,980,646 |
|  | As of December 31, 2023 |
|  | Quoted prices in active markets for identical instruments (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (level 3) |  |  | Total balance |
|  | US$ |  |  | US$ |  |  | US$ |  |  | US$ |
Financial instruments held, at fair value |  |  |  |  |  |  |  |  |  |  |  |
Funds |  |  | 2,634,959 |  |  |  | 353,525 |  |  |  | 3,435,440 |  |  |  | 6,423,924 |
Bonds |  |  | 418,077,123 |  |  |  | — |  |  |  | — |  |  |  | 418,077,123 |
Stock |  |  | 3,014,507 |  |  |  | — |  |  |  | — |  |  |  | 3,014,507 |
Others |  |  | 644,000 |  |  |  | — |  |  |  | — |  |  |  | 644,000 |
Cash and cash equivalents |  |  |  |  |  |  |  |  |  |  |  |
Funds |  |  | 6,428,256 |  |  |  | — |  |  |  | — |  |  |  | 6,428,256 |
Long‑term available-for-sale securities |  |  | — |  |  |  | — |  |  |  | 4,066,490 |  |  |  | 4,066,490 |
Total |  |  | 430,798,845 |  |  |  | 353,525 |  |  |  | 7,501,930 |  |  |  | 438,654,300 |
Schedule of movements of Level 3 fair value measurements | The movements of Level 3 fair value measurements for the years ended December 31, 2023 and 2024 are as follows:
|  | US$ |
As of January 1, 2023 |  |  | 7,378,683 |
Additions during the year |  |  | 1,000,000 |
Net unrealized loss |  |  | (876,753 | )
As of December 31, 2023 |  |  | 7,501,930 |
Additions during the year |  |  | — |
Net unrealized gain |  |  | 600,957 |
As of December 31, 2024 |  |  | 8,102,887 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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