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Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets:      
Cash and cash equivalents $ 147 $ 148 $ 23,188
Restricted cash 1,161 1,139 202
Accounts receivable, net   2,339
Advance to suppliers 1 143 471
Inventories, net 982 2,423 7,770
Prepaid expenses and other current assets, net 28,628 28,699 33,702
Total current assets 30,919 32,552 82,870
Non-current assets:      
Property and equipment, net 1,959 2,502 3,197
Intangible assets, net 17 28 35
Operating lease right-of-use asset 2,046 6,383 9,230
PIPE escrow account   55,000
Long-term investments   15,918
Total non-current assets 4,022 8,913 83,380
TOTAL ASSETS 34,941 41,465 166,250
Current liabilities:      
Accounts payable 25,348 25,308 25,114
Advance from customers 85 85 384
Loans from a third party 14,582 13,417 12,019
Warrant liabilities 97 52 288
Accrued expenses and other current liabilities 56,178 56,821 33,115
Lease liabilities, current 1,084 2,250 3,014
Total current liabilities 102,863 103,228 98,241
Non-current liabilities:      
Lease liabilities, non-current 1,293 4,804 7,075
Total non-current liabilities 1,293 4,804 7,075
TOTAL LIABILITIES 104,156 108,032 105,316
Shareholders’ equity      
Additional paid-in capital 678,528 678,528 633,528
Accumulated deficit (739,285) (737,049) (564,514)
Accumulated other comprehensive loss (4,347) (4,105) (4,294)
Shareholders’ equity (65,074) (62,596) 64,750
Non-controlling interests (4,141) (3,971) (3,816)
Total Shareholders’ equity (69,215) (66,567) 60,934
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 34,941 41,465 166,250
Class A Ordinary Shares      
Shareholders’ equity      
Ordinary shares value 4 4 4
Class B Ordinary Shares      
Shareholders’ equity      
Ordinary shares value 26 26 26
Related Party      
Current assets:      
Amounts due from related parties, net 15,198
Current liabilities:      
Amounts due to related parties $ 5,489 $ 5,295 $ 24,307