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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss $ (2,351) $ (32,685) $ (172,726) $ (266,695) $ (48,243)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization 357 388 775 800 45
Amortization of operating lease right-of-use asset 732 1,320 2,767 2,383 704
Changes in fair value of warrant liabilities 45 153 (236) (212) 238
Investment loss     13
Loss of impairment on investments     15,918 2,959
Impairment of property and equipment     3,183
Disposal loss of property and equipment 126 21 37
Lawsuit provision     22,143
Inventory write-downs 670 890 16,107
Reversal of expected credit losses (1,049) 65,653 85,431
Impairment loss 606 15,918 2,959
Financial expenses on PIPE 15,000 36,137 30,000 3,863
Gain from dissolution of a subsidiary     90
Interests on loans from a third party 900 433 1,751 3,578
Gain on settlement of loans from a third party     (658)
Gain on settlement of payables associated with litigations     (1,053)
Individual income tax expenses of settlement of employee lawsuits     1,498
Share-based compensation     23,338 3,197
Accounts payable exemption treated as capital injection     2,440
Loss of early termination of operating lease 55 31 74
Changes in assets and liabilities:          
Accounts receivable, current (19) 824 847 (6,269)
Advance to supplier 260 22 (329) 13,777 (1,476)
Inventories 856 4,825 28,921 2,635 (1,670)
Prepaid expenses and other current assets (153) 1,203 715 (54,447) (11,412)
Accounts receivable, non-current     (3,829)
Amounts due from/due to related parties 476 766 54 53 (11,507)
PIPE escrow account     55,000 15,000 (100,000)
Operating lease (1,127) (1,089) (3,033) (1,671) (564)
Accounts payable (55) (4,537) (24,255) (4,134) (2,456)
Advance from customers     (299) 383  
Accrued expenses and other current liabilities (1,354) (8,029) 2,772 13 (11,490)
Net cash used in operating activities (1,025) (21,354) 33,577 (138,046) (178,012)
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchases of property and equipment (25) (160) (5,509) (1,207)
Purchases of intangible asset     (17) (41) (7)
Proceeds from disposal of property and equipment 124 63
Loan to related parties (41) (542) (15,679) (1,490)
Recovery of loan to related parties     5,841
Loan to a third party     (7,000)
Purchases of long-term investments     (2,972)
Net cash provided by (used in) investing activities 83 (25) (656) (21,229) (6,835)
CASH FLOWS FROM FINANCING ACTIVITIES:          
Loan proceeds from related parties 782 2,359
Loan proceeds from related parties, noncurrent     5,045
Repayments of loan from related parties (54) (4,658)
Proceeds from convertible debt     2,229
Repayments of convertible debt     (2,229)
Loan proceeds from a third party 136 272
Repayments of loan from third parties     (7,909) (6,150)
Payments of offering costs     (15,076)
Proceeds from issuance of ordinary shares     3
Cash acquired on reverse recapitalization     9
Proceeds from PIPE     400,000
Payments of financial expenses     (55,000) (15,000)
Proceeds from execution of warrants     588 6,748
Net cash provided by financing activities 864   (55,000) (26,979) 393,210
Effect of exchange rate changes 99 91 (24) (2,366) 3,587
Net increase (decrease) in cash and cash equivalents 21 (21,288) (22,103) (188,620) 211,950
Cash and cash equivalents and restricted cash, at beginning of the period 1,287 23,390 23,390 212,010 60
Cash and cash equivalents and restricted cash, at end of the period 1,308 2,102 1,287 23,390 212,010
SUPPLEMENTAL DISCLOSURE OF NON CASH FLOW INFORMATION:          
Repayments of Magic loan by Mr. Nan Wu     3,338
Repayments of Magic loan by My Car     3,056
Expenses paid by a third party on behalf of the Company 407 6,083
Expenses paid by related parties on behalf of the Company     54 53 3,224
The claim on My Car transferred to Mr. Nan Wu     1,490
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:          
Interest paid $ 10,000 $ 748 $ 84