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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net Loss $ (51,869) $ (109,228) $ (58,790)
Finance costs 1,944 791 433
Investment income (62) (550)
Investment income from long term equity investment 4
Interest income from investment at amortized cost (701)
Fair value (gain)/loss on financial liabilities at FVTPL 39,171 (7,195)
Fair value gain on financial assets at FVTPL (484)
Loss/(gain) on disposal of items of property, plant and equipment 23 (7)
Depreciation of property, plant and equipment 982 1,213 931
Amortization of intangible assets 22 25 20
Depreciation of right-of-use assets 866 984 1,090
Equity-settled share-based payment expenses 2,450 4,330 6,082
(Increase)/Decrease in prepayments, other receivables and other assets (460) (436) 4,346
(Increase)/Decrease in non-current assets (22) 45 128
Increase in trade payables (4,202) 1,252 10,117
Increase in other payables and accruals (856) 263 656
Increase in contract liabilities 5,000
Net cash flows used in operating activities (51,819) (56,652) (43,223)
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property, plant and equipment (170) (200) (1,249)
Purchases of intangible assets (19)
Proceeds from disposal of items of property, plant and equipment 33 1 17
Purchases of financial assets at FVTPL (7) (58,980)
Disposal of financial assets at FVTPL 21,039 88,057
Purchases of investments at amortized cost (60,546) (31,849)
Recovery of short-term investments at amortized cost 92,259
Interest received from investment at amortized cost 701
Addition of investments in associate (4,212)
Received investment income of financial assets at FVTPL 62 550
Net cash flows provided/(used in) from investing activities 28,065 (10,954) 28,376
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of ordinary shares 91,780
Addition of bank borrowings 44,702 50,234 7,897
Bank borrowings interest paid (1,871) (602) (292)
Repayment of bank borrowings (48,542) (24,069) (13,315)
Exercise of share options 152
Payment for lease liabilities (1,020) (1,103) (1,070)
Net cash flows (used in)/from financing activities (6,579) 116,240 (6,780)
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS (30,333) 48,634 (21,627)
Cash and cash equivalents at beginning of year 91,492 42,758 64,131
Effect of foreign exchange rate changes, net (257) 100 254
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 60,902 $ 91,492 $ 42,758