LONG-TERM INVESTMENT |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||
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| LONG-TERM INVESTMENT | 7.LONG-TERM INVESTMENT As of December 31, 2025 and 2024, long-term investment consisted of the following:
On December 5, 2024, the Company transferred 66.702% equity interest in Anhui Kaixin to a third party. Upon the transfer of equity interest, the Company owned 33.298% equity interest in Anhui Kaixin and exercised significant influence over the equity investee. The Company used equity method to measure the investment in Anhui Kaixin. For the year ended December 31, 2025, Anhui Kaixin incurred net loss of $126 and the Company recorded share of equity loss of $41. For the period from December 5, 2024 through December 31, 2024, Anhui Kaixin incurred minimal net loss and the Company recorded share of equity loss of $nil. The Company assessed indicators reflecting an other-than-temporary decline in fair value below the carrying value and did not provide impairment against the investment in Anhui Kaixin. |
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