XML 19 R12.htm IDEA: XBRL DOCUMENT
v3.25.3

Balance Sheet Components | 9 Months Ended
--- | ---
Sep. 30, 2025
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components |
4. | Balance Sheet Components
Inventories Inventories as of September 30, 2025 and December 31, 2024, respectively, consisted of the following components (in thousands):
|  | September 30, 2025 |  |  | December 31, 2024 |
Raw materials |  | $ | 1,099 |  |  | $ | 794 |
Work in progress |  |  | 4,434 |  |  |  | 2,929 |
Finished goods |  |  | 3,321 |  |  |  | 2,614 |
Inventories |  | $ | 8,854 |  |  | $ | 6,337 |
Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands):
|  | September 30, 2025 |  |  | December 31, 2024 |
Accrued payroll and welfare |  | $ | 4,724 |  |  | $ | 4,765 |
Payable to PPE & intangible asset suppliers |  |  | 2,242 |  |  |  | 1,219 |
Payable to selling expense suppliers |  |  | 1,462 |  |  |  | 900 |
Accrued sales discount |  |  | 1,147 |  |  |  | 908 |
Accrued expenses - research and development |  |  | 578 |  |  |  | 57 |
Accrued professional services |  |  | 563 |  |  |  | 667 |
Accrued expenses - general and administrative |  |  | 497 |  |  |  | 1,005 |
Deferred government grants |  |  | 96 |  |  |  | 95 |
Employee reimbursement |  |  | 44 |  |  |  | 737 |
Other accrued liabilities |  |  | 446 |  |  |  | 262 |
Accrued expenses and other current liabilities |  | $ | 11,799 |  |  | $ | 10,615 |
Accounts and Note Receivables, Net Accounts and note receivables, net consisted of the following (in thousands):
|  | September 30, 2025 |  |  | December 31, 2024 |
Accounts receivable |  | $ | 26,059 |  |  | $ | 19,798 |
Note receivable |  |  | 693 |  |  |  | 4,373 |
Allowance for credit losses |  |  | (182 | ) |  |  | (209 | )
Accounts and note receivables, net |  | $ | 26,570 |  |  | $ | 23,962 |
Property and Equipment, Net Property and equipment, net consisted of the following (in thousands):
|  | September 30, 2025 |  |  | December 31, 2024 |
Buildings |  | $ | 19,229 |  |  | $ | 18,980 |
Construction in progress |  |  | 844 |  |  |  | 222 |
Machinery and electronic devices |  |  | 9,559 |  |  |  | 9,442 |
Furniture and fixtures |  |  | 723 |  |  |  | 653 |
Motor vehicles |  |  | 187 |  |  |  | 182 |
Property and equipment, gross |  |  | 30,542 |  |  |  | 29,479 |
Less: Accumulated depreciation |  |  | (6,934 | ) |  |  | (5,599 | )
Property and equipment, net |  | $ | 23,608 |  |  | $ | 23,880 |
Long-Term Investment Measured Under Equity Method On June 28, 2024, Gyre Pharmaceuticals entered into a partnership agreement as a limited partner with other investors and is obligated to pay $4.2 million for an 18.93% equity interest in the partnership. In April 2025, a new investor joined the partnership agreement, and as a result, Gyre Pharmaceuticals’ equity interest was adjusted to 18.35%. Pursuant to the partnership agreement, Gyre Pharmaceuticals, as a limited partner, shall not participate in any activities related to the management of the investment business. However, Gyre Pharmaceuticals may appoint a member to the advisory committee of the partnership. As of September 30, 2025 and December 31, 2024, the Company's total investment in the partnership was $1.7 million and $1.7 million, respectively, and the carrying value of the Company’s long-term investment in this affiliate, which was included in “Other assets, noncurrent” on the balance sheet, was $1.6 million and $1.6 million, respectively.

X
- References No definition available. + Details
Name: | us-gaap_BalanceSheetRelatedDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration