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v3.25.1

Consolidated Statements of Changes in Shareholders’ Equity - USD ($) $ in Thousands | Ordinary Shares | Share Premium | Series A convertible preferred shares | Share based payments reserve | Exchange fluctuation reserve | Accumulated deficit | Total
--- | --- | --- | --- | --- | --- | --- | ---
Balance at Dec. 31, 2021 | $ 4 | $ 6,415 | $ 10,980 | $ 7,606 | $ (1,002) | $ (209,431) | $ (185,428)
Loss for the period |  |  |  |  |  | (58,790) | (58,790)
Exchange differences on translation of the financial statements of subsidiaries |  |  |  |  | (3,157) |  | (3,157)
Share-based payments |  |  |  | 6,082 |  |  | 6,082
Balance at Dec. 31, 2022 | 4 | 6,415 | 10,980 | 13,688 | (4,159) | (268,221) | (241,293)
Loss for the period |  |  |  |  |  | (109,228) | (109,228)
Exchange differences on translation of the financial statements of subsidiaries |  |  |  |  | (82) |  | (82)
Issuance of ordinary shares | 1 | 91,779 |  |  |  |  | 91,780
Conversion of Financial liabilities at FVTPL | 5 | 329,534 |  |  |  |  | 329,539
Conversion of Series A convertible preferred shares | 1 | 10,979 | (10,980) |  |  |  |
Share-based payments |  |  |  | 4,330 |  |  | 4,330
Balance at Dec. 31, 2023 | 11 | 438,707 |  | 18,018 | (4,241) | (377,449) | 75,046
Loss for the period |  |  |  |  |  | (51,869) | (51,869)
Exchange differences on translation of the financial statements of subsidiaries |  |  |  |  | (294) |  | (294)
Issuance of ordinary shares |  |  |  |  |  |  |
Vesting of restricted shares |  | 28 |  | (28) |  |  |
Exercise of share options |  | 281 |  | (129) |  |  | 152
Share-based payments |  |  |  | 2,450 |  |  | 2,450
Balance at Dec. 31, 2024 | $ 11 | $ 439,016 |  | $ 20,311 | $ (4,535) | $ (429,318) | $ 25,485

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