China Revenue

Decline of over 20% (from $67.81 million in Q4 2024 to $54.04 million in Q1 2026)

The revenue drop in China reflects external market challenges such as potential currency fluctuations and shifting regulatory environments, which have adversely affected demand compared to the prior period. " "

Other Regions Revenue

Decline of nearly 18% (from $18.08 million in Q4 2024 to $14.76 million in Q1 2026)

A similar downward trend in Other regions points to market volatility and possibly increased logistical or regulatory headwinds that inhibited growth relative to the previous period. " "

Operating Income

Turnaround from an operating loss of $30.88 million to an operating income of $28.4 million

Improved cost management and favorable foreign currency impacts contributed to a significant turnaround in operating income, overcoming previous operational inefficiencies despite continued pressure on revenue. " "

Net Income

Swing from a positive net income of $116.1 million to a negative of -$23.8 million

The dramatic decline in net income is driven by a marked decrease in total revenue and adverse impacts from operational and joint venture performance, which together reversed the earlier robust profit levels. " "