$ADAG
Adagene Inc

2023 Q4 Form 20-F Financial Statement

#000110465924041109 Filed on March 29, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $815.8K $18.11M
YoY Change -84.81% 94.9%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.202M $8.673M
YoY Change -16.37% -26.96%
% of Gross Profit
Research & Development $15.35M $36.64M
YoY Change -57.59% -54.96%
% of Gross Profit
Depreciation & Amortization $980.1K
YoY Change -14.48%
% of Gross Profit
Operating Expenses $19.49M $41.83M
YoY Change -52.72% -55.12%
Operating Profit -$23.72M
YoY Change -71.74%
Interest Expense $1.656M $4.621M
YoY Change -1.45% 106.36%
% of Operating Profit
Other Income/Expense, Net $1.556M $1.843M
YoY Change -10.46% -14.99%
Pretax Income -$15.46M -$17.25M
YoY Change -52.33% -78.3%
Income Tax -$621.7K $1.691M
% Of Pretax Income
Net Earnings -$14.84M -$18.95M
YoY Change -54.1% -76.31%
Net Earnings / Revenue -1818.89% -104.61%
Basic Earnings Per Share -$0.35
Diluted Earnings Per Share -$0.27 -$0.35
COMMON SHARES
Basic Shares Outstanding 55.15M 54.74M
Diluted Shares Outstanding 54.74M

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $109.9M $109.9M
YoY Change -23.53% -23.53%
Cash & Equivalents $109.9M $109.9M
Short-Term Investments
Other Short-Term Assets $3.287M $3.287M
YoY Change -33.42% -33.42%
Inventory
Prepaid Expenses $591.4K
Receivables
Other Receivables $222.0K
Total Short-Term Assets $113.4M $113.4M
YoY Change -24.02% -24.02%
LONG-TERM ASSETS
Property, Plant & Equipment $2.200M $2.200M
YoY Change -26.04% -26.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $84.89K $84.89K
YoY Change -22.52% -22.52%
Total Long-Term Assets $2.285M $2.285M
YoY Change -25.91% -25.91%
TOTAL ASSETS
Total Short-Term Assets $113.4M $113.4M
Total Long-Term Assets $2.285M $2.285M
Total Assets $115.7M $115.7M
YoY Change -24.06% -24.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.094M $3.094M
YoY Change -15.61% -15.61%
Accrued Expenses $3.197M $3.197M
YoY Change -4.97% -4.97%
Deferred Revenue
YoY Change
Short-Term Debt $4.236M $4.236M
YoY Change -60.67% -60.67%
Long-Term Debt Due $4.162M $4.162M
YoY Change 46.01% 46.01%
Total Short-Term Liabilities $31.46M $31.46M
YoY Change -42.89% -42.89%
LONG-TERM LIABILITIES
Long-Term Debt $13.54M $13.54M
YoY Change -4.29% -4.29%
Other Long-Term Liabilities $173.7K $173.7K
YoY Change 110.37% 110.37%
Total Long-Term Liabilities $13.71M $13.71M
YoY Change -3.62% -3.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.46M $31.46M
Total Long-Term Liabilities $13.71M $13.71M
Total Liabilities $45.17M $45.17M
YoY Change -34.83% -34.83%
SHAREHOLDERS EQUITY
Retained Earnings -$277.8M
YoY Change 7.32%
Common Stock $5.547K
YoY Change 0.91%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $70.56M $70.56M
YoY Change
Total Liabilities & Shareholders Equity $115.7M $115.7M
YoY Change -24.06% -24.06%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$14.84M -$18.95M
YoY Change -54.1% -76.31%
Depreciation, Depletion And Amortization $980.1K
YoY Change -14.48%
Cash From Operating Activities -$28.45M
YoY Change -41.47%
INVESTING ACTIVITIES
Capital Expenditures $85.01K
YoY Change -87.7%
Acquisitions
YoY Change
Other Investing Activities $7.660K
YoY Change 56.65%
Cash From Investing Activities -$77.36K
YoY Change -88.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.500K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.367M
YoY Change -130.11%
NET CHANGE
Cash From Operating Activities -28.45M
Cash From Investing Activities -77.36K
Cash From Financing Activities -5.367M
Net Change In Cash -33.90M
YoY Change 10.66%
FREE CASH FLOW
Cash From Operating Activities -$28.45M
Capital Expenditures $85.01K
Free Cash Flow -$28.54M
YoY Change -42.11%

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-950783
CY2023 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5500
CY2023 adag Stock Issued During Period Value Performance Incentive Plan
StockIssuedDuringPeriodValuePerformanceIncentivePlan
89100
CY2023 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7271700
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
70559497
CY2021 us-gaap Profit Loss
ProfitLoss
-73177935
CY2022 us-gaap Profit Loss
ProfitLoss
-79971847
CY2023 us-gaap Profit Loss
ProfitLoss
-18946370
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1125032
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1145995
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
980053
CY2021 adag Gain Loss On Sale Of Property Plant Equipment And Operating Lease Right Of Use Asset
GainLossOnSaleOfPropertyPlantEquipmentAndOperatingLeaseRightOfUseAsset
18973
CY2022 adag Gain Loss On Sale Of Property Plant Equipment And Operating Lease Right Of Use Asset
GainLossOnSaleOfPropertyPlantEquipmentAndOperatingLeaseRightOfUseAsset
6811
CY2023 adag Gain Loss On Sale Of Property Plant Equipment And Operating Lease Right Of Use Asset
GainLossOnSaleOfPropertyPlantEquipmentAndOperatingLeaseRightOfUseAsset
9365
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
18679658
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
10520282
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
7271700
CY2021 adag Interest Income Expense On Promissory Notes
InterestIncomeExpenseOnPromissoryNotes
9946
CY2022 adag Operating Lease Right Of Use Asset And Interest Of Lease Liabilities Amortization Expense
OperatingLeaseRightOfUseAssetAndInterestOfLeaseLiabilitiesAmortizationExpense
303535
CY2023 adag Operating Lease Right Of Use Asset And Interest Of Lease Liabilities Amortization Expense
OperatingLeaseRightOfUseAssetAndInterestOfLeaseLiabilitiesAmortizationExpense
228405
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-603459
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
2555325
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1446202
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3000000
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3000000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
231287
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
881402
CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1649878
CY2021 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
4374274
CY2022 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-3887238
CY2023 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-397405
CY2021 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
24210
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
40297
CY2023 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-24687
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1511640
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
344509
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-572372
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
4774464
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
9607276
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-15107276
CY2021 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
7930703
CY2022 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
8857276
CY2023 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-2609011
CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1057491
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-823928
CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-122201
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-280465
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-237401
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1657450
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-1657450
CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
52884
CY2021 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-44163
CY2022 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
44163
CY2022 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-29732
CY2023 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-28383
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-43414619
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-48611687
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-28454839
CY2023 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
47000000
CY2023 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
47000000
CY2022 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
4892
CY2023 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
7656
CY2021 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2509926
CY2022 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
690938
CY2023 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
85012
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2509926
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-686046
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-77356
CY2021 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
4386860
CY2022 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
25830030
CY2023 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
8133775
CY2021 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
381282
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
231521
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
323212
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5500
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
149411950
CY2021 us-gaap Repayments Of Debt
RepaymentsOfDebt
5089717
CY2022 us-gaap Repayments Of Debt
RepaymentsOfDebt
4353588
CY2023 us-gaap Repayments Of Debt
RepaymentsOfDebt
13506221
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1595088
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2361576
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3976681
CY2021 adag Retirement Of Treasury Shares
RetirementOfTreasuryShares
8090
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
145357142
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17822973
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5366946
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-192352
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
842195
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
74720
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
99240245
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-30632565
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-33824421
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
75150998
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
174391243
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
143758678
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
174391243
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
143758678
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
109934257
CY2021 us-gaap Interest Paid Net
InterestPaidNet
359569
CY2022 us-gaap Interest Paid Net
InterestPaidNet
603680
CY2023 us-gaap Interest Paid Net
InterestPaidNet
1047717
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2433241
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1376856
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
313929
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
225542
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
217227
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
179919
CY2021 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
28553
CY2021 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
154477960
CY2021 adag Non Cash Activities Retirement Of Treasury Shares
NonCashActivitiesRetirementOfTreasuryShares
1741971
CY2022 adag Non Cash Activities Retirement Of Treasury Shares
NonCashActivitiesRetirementOfTreasuryShares
4596282
CY2021 adag Surrender Of Common Stock Shares For Repayment Of Promissory Notes
SurrenderOfCommonStockSharesForRepaymentOfPromissoryNotes
6800856
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;line-height:1.19;margin:0pt 0pt 12pt 0pt;">Use of estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the balance sheet dates and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in the Group’s consolidated financial statements include, but are not limited to, licensing and collaboration revenue recognition, research and development expense allocation, the useful lives and impairment of long-lived assets, tax valuation allowance, share-based compensation expenses, and measurement of right-of-use assets and lease liabilities. Management bases the estimates on historical experience and various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could materially differ from those estimates.</p>
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023 adag Other Operating Income Net
OtherOperatingIncomeNet
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Other operating income, net</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Other operating income, net included a one-time compensation payment from a contract manufacturer in relation to company losses for a preclinical-related outsourcing arrangement.</p>
CY2021 adag Government Subsidies Received
GovernmentSubsidiesReceived
1400000
CY2022 adag Government Subsidies Received
GovernmentSubsidiesReceived
2100000
CY2023 adag Government Subsidies Received
GovernmentSubsidiesReceived
1500000
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2223493
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2984251
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2584392
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;line-height:1.19;margin:0pt 0pt 12pt 0pt;">Concentration of risks</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;line-height:1.19;margin:0pt 0pt 12pt 0pt;">Concentration of credit risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">As of December 31, 2022 and 2023, the amount of cash and cash equivalents of US$8,617,157 and US$6,538,253 respectively, were held at major financial institutions located in Mainland China, and US$135,141,521 and US$103,396,004,respectively, were deposited with major financial institutions located outside of Mainland China. Management believes that these financial institutions are of high credit quality and continually monitors the credit worthiness of these financial institutions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Accounts receivable, if any, is typically unsecured and denominated in US$ and/or RMB and is derived from revenues earned from customers. The Group manages credit risk of accounts receivable through ongoing monitoring of the outstanding balances.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;line-height:1.19;margin:0pt 0pt 12pt 0pt;">Concentration of suppliers</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">For the year ended December 31, 2021 and 2022, a significant portion of the Group’s research and development services were purchased from one supplier group, who collectively accounted for 18.5%, and 34.1% of the Group’s total research and development services purchases, respectively. For the year ended December 31, 2023, there were no suppliers who collectively accounted for more than 10% of the Group’s total research and development services.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;line-height:1.19;margin:0pt 0pt 12pt 0pt;">Business and economic risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Group believes that changes in any of the following areas could have a material adverse effect on the Group’s future consolidated financial position, results of operations or cash flows: changes in the overall demand for services; competitive pressures due to new entrants; advances and new trends in new technologies and industry standards; changes in certain strategic relationships; regulatory considerations and risks associated with the Group’s ability to attract employees necessary to support its growth. The Group’s operations could also be adversely affected by significant political, regulatory, economic and social uncertainties in the PRC.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;line-height:1.19;margin:0pt 0pt 12pt 0pt;">Foreign currency exchange rate risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">A significant portion of the Group’s businesses are transacted in RMB, which is not a freely convertible currency. On January 1, 1994, the PRC government abolished the dual rate system and introduced a single rate of exchange as quoted daily by the PBOC. However, the unification of the exchange rates does not imply that the RMB may be readily convertible into US$ or other foreign currencies. All foreign exchange transactions continue to take place either through the PBOC or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the PBOC. Approval of foreign currency payments by the PBOC or other institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">From July 21, 2005, the RMB is permitted to fluctuate within a narrow and managed band against a basket of certain foreign currencies. For U.S. dollar against RMB, there was appreciation of approximately 9.24% in the year ended December 31, 2022 and appreciation of approximately 1.70% in the year ended December 31, 2023, respectively. It is difficult to predict how market forces or PRC or U.S. government policy may impact the exchange rate between the RMB and the U.S. dollar in the future.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The functional currency and the reporting currency of the Company are the US$. However, the Group incurs portions of our expenses, and derives revenues, in currencies other than US$, in particular, the RMB. Any significant fluctuation of the valuation of RMB may materially affect the Group’s cash flows, expenses, losses and financial position, and the value of any dividends payable on the American Depositary Shares in US$.</p>
CY2022 adag Percentage Of Depreciation Of Foreign Currency
PercentageOfDepreciationOfForeignCurrency
0.0924
CY2023 adag Percentage Of Depreciation Of Foreign Currency
PercentageOfDepreciationOfForeignCurrency
0.0170
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1161910
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
591383
CY2022Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
2970421
CY2023Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
1790637
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
804992
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
905425
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4937323
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3287445
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8692268
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8543198
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5909305
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6708077
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2782963
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1835121
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1125032
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1145995
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
980053
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1647490
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1194199
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1104365
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1177301
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
349039
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
510259
CY2022Q4 adag Accrued Liabilities And Other Current Liabilities
AccruedLiabilitiesAndOtherCurrentLiabilities
3212809
CY2023Q4 adag Accrued Liabilities And Other Current Liabilities
AccruedLiabilitiesAndOtherCurrentLiabilities
3001508
CY2022Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
10768745
CY2023Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
4235673
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
2850128
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
4161549
CY2022Q4 us-gaap Debt Current
DebtCurrent
13618873
CY2023Q4 us-gaap Debt Current
DebtCurrent
8397222
CY2022Q4 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
14146541
CY2023Q4 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
13540034
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
14146541
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
13540034
CY2022Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
27765414
CY2023Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
21937256
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8397222
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
13116467
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
423567
CY2023Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
21937256
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
154449407
CY2021 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
154477960
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2021Q1 adag Number Of Shares Surrendered
NumberOfSharesSurrendered
491119
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
13.85
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.85
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3294467
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.75
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
6.65
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y9M10D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
33410968
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1894119
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
12.31
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.39
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
233958
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.99
CY2021 adag Share Based Compensation Arrangement By Share Based Payment Award Options Exercised Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedWeightedAverageGrantDateFairValue
5.13
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
145550
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.02
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
7.71
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4809078
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.91
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
7.38
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M4D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2619574
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2640598
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.28
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.13
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
197975
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.08
CY2022 adag Share Based Compensation Arrangement By Share Based Payment Award Options Exercised Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedWeightedAverageGrantDateFairValue
6.95
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
964789
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.75
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
7.57
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6286912
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.80
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
5.16
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y5M8D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
94990
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3442500
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.14
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.72
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
10000
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.55
CY2023 adag Share Based Compensation Arrangement By Share Based Payment Award Options Exercised Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedWeightedAverageGrantDateFairValue
5.72
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
952530
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.59
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
3.45
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8766882
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.39
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
3.60
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M26D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2011843
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
8766882
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.39
CY2023 adag Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageGrantDateFairValue
3.60
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y2M26D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
2011843
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2070533
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.35
CY2022 adag Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageGrantDateFairValue
6.87
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y7M13D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
55880
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2448076
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.79
CY2023 adag Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageGrantDateFairValue
6.64
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y9M
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
207499
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
13833856
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
11929903
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y7M20D
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
6742535
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
16658848
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0111
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0167
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0192
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0425
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0338
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0486
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.731
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.755
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.742
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.749
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.726
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.731
CY2021 adag Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMinimum
2.2
CY2021 adag Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMaximum
2.8
CY2022 adag Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMinimum
2.2
CY2022 adag Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMaximum
2.8
CY2023 adag Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMinimum
2.2
CY2023 adag Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Multiple Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExerciseMultipleMaximum
2.8
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18679658
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10520282
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7271700
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1290009
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
672064
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1502796
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
367441
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-168846
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
188612
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1657450
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
503218
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1691408
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
96804
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-96804
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-52641
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
52641
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
44163
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-44163
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1701613
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
459055
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1691408
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-71476322
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-79512792
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-17254962
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-17869081
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-19878198
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-4313740
CY2021 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
7147633
CY2022 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
7951279
CY2023 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
1725496
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
10549985
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
10560029
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-1012031
CY2021 adag Effective Income Tax Rate Reconciliation Deduction Research And Development Expenses Amount
EffectiveIncomeTaxRateReconciliationDeductionResearchAndDevelopmentExpensesAmount
569016
CY2022 adag Effective Income Tax Rate Reconciliation Deduction Research And Development Expenses Amount
EffectiveIncomeTaxRateReconciliationDeductionResearchAndDevelopmentExpensesAmount
1724740
CY2023 adag Effective Income Tax Rate Reconciliation Deduction Research And Development Expenses Amount
EffectiveIncomeTaxRateReconciliationDeductionResearchAndDevelopmentExpensesAmount
693340
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
569575
CY2023 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
668854
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1054
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
3695
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
7241
CY2022 us-gaap Effective Income Tax Rate Reconciliation Fdii Amount
EffectiveIncomeTaxRateReconciliationFdiiAmount
487183
CY2023 us-gaap Effective Income Tax Rate Reconciliation Fdii Amount
EffectiveIncomeTaxRateReconciliationFdiiAmount
394979
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
2277418
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
4517358
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
7064573
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
291500
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
76127
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-22363
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-127880
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
10263
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-595
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1701613
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
459055
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1691408
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
8217976
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
15413070
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
391843
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
1077073
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
756197
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
94954
CY2023Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
72402
CY2022Q4 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
116238
CY2023Q4 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
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CY2022Q4 adag Deferred Tax Assets Rights Of Use Assets And Lease Liabilities
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 us-gaap Deferred Tax Assets Net
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CY2023Q4 us-gaap Deferred Tax Assets Net
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CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Operating Loss Carryforwards
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CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2022 us-gaap Net Income Loss
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CY2023 us-gaap Net Income Loss
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CY2021 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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28553
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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-73206488
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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-79971847
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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-18946370
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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50032009
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Earnings Per Share Basic
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-1.46
CY2022 us-gaap Earnings Per Share Basic
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-1.48
CY2023 us-gaap Earnings Per Share Basic
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CY2022Q4 us-gaap Other Receivables Net Current
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619432
CY2023Q4 us-gaap Other Receivables Net Current
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CY2022Q4 us-gaap Other Liabilities Current
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CY2023Q4 us-gaap Other Liabilities Current
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
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CY2022Q4 us-gaap Operating Lease Liability Current
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CY2023Q4 us-gaap Operating Lease Liability Current
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CY2022Q4 us-gaap Operating Lease Liability Noncurrent
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CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
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283276
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
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216305
CY2022 us-gaap Short Term Lease Cost
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34729
CY2023 us-gaap Short Term Lease Cost
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13514
CY2022 adag Interest Of Operating Lease Liabilities
InterestOfOperatingLeaseLiabilities
20259
CY2023 adag Interest Of Operating Lease Liabilities
InterestOfOperatingLeaseLiabilities
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CY2022 adag Operating Lease Rental Expense
OperatingLeaseRentalExpense
338264
CY2023 adag Operating Lease Rental Expense
OperatingLeaseRentalExpense
241919
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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157603
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2022Q4 us-gaap Operating Lease Liability
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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16585
CY2023 adag Minimum Percentage Of Profits After Tax To Be Transferred To Statutory Reserve
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CY2023 adag Statutory Reserve Maintenance Required Percentage On Registered Capital
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CY2022Q4 us-gaap Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
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1860667
CY2023Q4 us-gaap Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries
1860667
CY2023 adag After Tax Income Percentage Appropriations
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0.10
CY2023Q4 us-gaap Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries
1860667
CY2023 adag Threshold Percentage On Restricted Net Assets Of Prc Subsidiaries
ThresholdPercentageOnRestrictedNetAssetsOfPrcSubsidiaries
0.25

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