​

Six Months Ended June 30, 

​

2025

2024

​

​

(in US$’000)

Net income

​

455,555

​

26,165

Adjustments to reconcile net income to net cash used in operating activities

​

​

​

​

Depreciation and amortization

​

6,118

​

6,252

Share-based compensation expense—share options

​

1,552

​

1,432

Share-based compensation expense—LTIP

​

7,691

​

9,880

Equity in earnings of an equity investee, net of tax

​

(23,125)

​

(33,807)

Gain from divestment of an equity investee

​

(477,456)

​

—

Dividends received from an equity investee

​

6,987

​

—

Other adjustments

​

2,606

​

709

Changes in operating assets and liabilities

​

​

​

​

Accounts receivable

​

8,596

​

(39,879)

Other receivables, prepayments and deposits

​

(4,943)

​

(393)

Amounts due from related parties

​

204

​

228

Inventories

​

2,095

​

3,636

Accounts payable

​

1,204

​

7,071

Other payables, accruals and advance receipts

​

(37,433)

​

(4,410)

Deferred revenue

​

(22,718)

​

(16,363)

Others

​

173

​

(353)

Total changes in operating assets and liabilities

​

(52,822)

​

(50,463)

Net cash used in operating activities

​

(72,894)

​

(39,832)