LONG-TERM BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2025

Long-Term Debt, by Current and Noncurrent [Abstract]

At September 30, 2025 and December 31, 2024, long-term borrowings consisted of the following:


	September 30,		December 31,
	2025		2024
Loan from China Merchants Bank	$	18,502	$	11,475
Loan from Agricultural Bank of China	42,236		13,020
Loans from Bank of China	40,747		28,258
Loan from Bank of Shanghai	—		13,920
Loans from China CITIC Bank	42,177		27,775
Loan from China Everbright Bank	56,167		55,549
Loan from Industrial and Commercial Bank of China	42,164		—
Total borrowings	241,993		149,997
Less: Current portion	(48,637)		(44,472)
Total	$	193,356	$	105,525

Principal Payments for Outstanding Long-Term Loan

Scheduled principal payments for the outstanding long-term loans, including the current portion, as of September 30, 2025 are as follows:


Year Ending December 31,
Remainder of 2025	$	15,610
2026	34,506
2027	101,103
2028	47,667
2029 and thereafter	43,107
	$	241,993

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

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