As of December 31,

2023

2024

(in US$ thousands)

Assets

Current assets:

Cash and cash equivalents

$

5,341

$

7,075

Short-term bank deposits

51,924

20,000

Short-term financial products issued by banks

84,500

50,679

Short-term investments

7,983

2,787

Amounts due from subsidiaries

634,051

627,228

Prepayments and other current assets

2,905

2,737

Total current assets

786,704

710,506

Non-current assets:

Long-term bank deposits

—

15,000

Long-term financial products issued by banks

20,000

61,400

Other non-current assets

907

1,233

Investments in subsidiaries and VIEs

(93,103

)

(106,005

)

Total non-current assets

(72,196

)

(28,372

)

Total assets

$

714,508

$

682,134

Liabilities

Current liabilities:

Amounts due to subsidiaries

109,078

108,916

Accrued expenses and other current liabilities

681

557

Total liabilities

$

109,759

$

109,473

Shareholders’ equity

Class A ordinary shares ($0.0001 par value; 820,000,000 shares authorized, 391,324,217 shares issued and 292,628,765 shares outstanding as of December 31, 2023; 820,000,000 shares authorized, 392,376,217 shares issued and 297,156,593 shares outstanding as of December 31, 2024)

39

39

Class B ordinary shares ($0.0001 par value; 76,179,938 shares authorized, issued and outstanding as of December 31, 2023 and 2024)

8

8

Additional paid-in-capital

1,138,346

1,144,238

Treasury shares at cost

(79,716

)

(72,739

)

Accumulated other comprehensive loss

(10,027

)

(12,257

)

Accumulated deficit

(443,901

)

(486,628

)

Total shareholders’ equity

$

604,749

$

572,661

Total liabilities and shareholders’ equity

$

714,508

$

682,134