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Statutory Reserves and Restricted Net Assets (Tables) | 12 Months Ended
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Dec. 31, 2023
Statutory Reserves and Restricted Net Assets |
Summary of balance sheet | ​
​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ |  | 2022 |  | 2023
​ | ​ | US$ | ​ | US$
ASSETS | ​ | ​ | ​ | ​
Current assets: | ​ | ​ | ​ | ​
Cash and cash equivalents |  | 4,685 |  | 21,393
Amounts due from subsidiaries |  | 318,017 |  | 287,668
Prepayments and other current assets |  | 596 |  | 785
Total current assets |  | 323,298 |  | 309,846
Non-current assets: |  |  |  |
Investment in subsidiaries and VIE |  | 651,044 |  | 669,084
Total non-current assets |  | 651,044 |  | 669,084
Total assets |  | 974,342 |  | 978,930
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |
Liabilities |  |  |  |
Accruals and other current liabilities |  | 5,171 |  | 4,474
Other non-current liabilities |  | 7,004 |  | 3,891
Total liabilities |  | 12,175 |  | 8,365
Shareholders’ equity: |  |  |  |
Ordinary shares (US$0.00005 par value; nil shares authorized, issued and outstanding as of December 31, 2022 and 2023, respectively) |  | — |  | —
Class A ordinary shares (US$0.00005 par value; 800,000,000 and 800,000,000 shares authorized as of December 31, 2022 and 2023, respectively; 499,146,560 and 504,387,299 shares issued as of December 31, 2022 and 2023, respectively; 473,550,229 and 487,591,968 shares outstanding as of December 31, 2022 and 2023, respectively) |  | 25 |  | 25
Class B ordinary shares (US$0.00005 par value; 200,000,000 and 200,000,000 shares authorized as of December 31, 2022 and 2023, respectively; 79,400,000 and 70,205,300 shares issued and outstanding as of December 31, 2022 and 2023, respectively) |  | 4 |  | 4
Treasury stock (US$0.00005 par value; 25,596,331 and 16,795,331 shares as of December 31, 2022 and 2023, respectively) |  | (86,438) |  | (53,630)
Additional paid-in capital |  | 1,584,764 |  | 1,616,105
Accumulated other comprehensive loss |  | (22,115) |  | (17,091)
Accumulated deficit |  | (514,073) |  | (574,848)
Total shareholders’ equity |  | 962,167 |  | 970,565
Total liabilities and shareholders’ equity |  | 974,342 |  | 978,930
Summary of statement of comprehensive loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2021 |  | 2022 |  | 2023
Operation expense | ​ | ​ | ​ | ​ | ​ | ​
General and administrative expenses |  | (2,927) |  | (3,013) |  | (4,212)
Share of loss of subsidiaries and VIE |  | (174,455) |  | (146,417) |  | (59,372)
Total operating expenses |  | (177,382) |  | (149,430) |  | (63,584)
Other non-operating income, net |  | 1,958 |  | 2,904 |  | 3,113
Financial income, net |  | — |  | 197 |  | 238
Foreign exchange gain/(loss) |  | — |  | 154 |  | (82)
Loss before income tax expense |  | (175,424) |  | (146,175) |  | (60,315)
Net loss |  | (175,424) |  | (146,175) |  | (60,315)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss attributable to ordinary shareholders |  | (175,424) |  | (146,175) |  | (60,315)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss |  | (175,424) |  | (146,175) |  | (60,315)
Other comprehensive income/(loss) |  |  |  |  |  |
Foreign currency translation |  | 1,482 |  | (14,942) |  | (2,722)
Transfer out of fair value changes of long-term investments | ​ | — | ​ | — | ​ | 15,537
Changes in fair value of long-term investments |  | 357 |  | (9,493) |  | (7,791)
Total comprehensive loss |  | (173,585) |  | (170,610) |  | (55,291)
Summary of statement of cash flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ |  | 2021 |  | 2022 |  | 2023
Net cash generated from/(used in) operating activities |  | 11,255 |  | (1,408) |  | (3,478)
Advance to, and investment in subsidiaries |  | (1,037,244) |  | — |  | (7,940)
Proceeds from subsidiaries | ​ | — | ​ | 28,842 | ​ | 30,349
Net cash (used in)/generated from investing activities |  | (1,037,244) |  | 28,842 |  | 22,409
Proceeds from issuance of Class A ordinary shares upon U.S. IPO and related over-allotment option, net of cost of issuance |  | 904,732 |  | — |  | —
Payment for repurchase and cancellation of ordinary shares |  | (64,000) |  | (48,678) |  | (3,339)
Proceeds from issuance of Class A ordinary shares upon the Dual Primary Listing, net of cost of issuance | ​ | — | ​ | 9,057 | ​ | —
Proceeds from issuance of ordinary shares prior to Initial Public Offering |  | 200,000 |  | — |  | —
Proceeds from exercise of share options |  | 1,070 |  | 1,039 |  | 1,187
Payments of deferred offering costs |  | — |  | — |  | (71)
Net cash generated from/(used in) financing activities |  | 1,041,802 |  | (38,582) |  | (2,223)
Effect of exchange rate changes on cash and cash equivalents, restricted cash |  | — |  | — |  | —
Net increase/(decrease) in cash and cash equivalents |  | 15,813 |  | (11,148) |  | 16,708
Cash and cash equivalents at the beginning of the year |  | 20 |  | 15,833 |  | 4,685
Cash and cash equivalents at the end of the year |  | 15,833 |  | 4,685 |  | 21,393
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