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Long-Term Equity Investments
 12 Months Ended
Dec. 31, 2024
Long-Term Equity Investments [Abstract]  
Long-term equity investments
15.Long-term equity investments

 

The following entity have been included in the consolidated financial statements using the equity method:

 

    Proportion of ownership 
     Interest held 
   Country of incorporation   As of December 31, 
Name  Principle place of business   2024    2023 
Hangzhou Tangchuang Weilai Technology Co., Ltd (“Hangzhou Tangchuang”)  the People’s Republic of China   40%   100%

 

In March 2024, Shareholder of Hangzhou Tangchuang agreed to increase the company’s registered capital from RMB 10,000 to RMB100,000, with an additional investment of RMB70,000 from Hangzhou Hongxi Business Management Co., Ltd and an additional investment of RMB20,000 from Adlai Hangzhou. After this capital increase, the Group accounting for 30% of the registered capital in Hangzhou Tangchuang. And Hangzhou Tangchuang would no longer be a subsidiary within the Group’s scope of consolidation.

 

As of March 20, 2024, the Group had not made any capital injection to Hangzhou Tangchuang, and Hangzhou Tangchuang had not engaged in any substantive business activities. As of December 31, 2024, the Group had made a capital injection of RMB30,000 to Hangzhou Tangchuang, representing a 40% equity interest.

   2023   2024 
   $’000   $’000 
At the beginning of the year   
—
    
—
 
Addition   
—
    4,212 
Share of current year results   
—
    (4)
Dividends   
—
    
—
 
Exchange differences   
—
    (51)
At the end of the year   
—
    4,157 

 

a)Summarized financial information (material associate)

 

Hangzhou Tangchuang

 

   As of December 31,
2024		 
   $’000 
Current assets   10,376 
Current liabilities   17 
      
Net Assets(100%)   10,393 
Company share of net assets(40%)   4,157 

 

   Period from
 March 20, 2024 to
 December 31,
2024		 
Loss from continuing activities   (10)
Comprehensive income   (10)