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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (24,825) $ (29,571)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss/ (gain) on disposal of property, plant and equipment (34) 824
Depreciation of property, plant and equipment 7,470 4,892
Amortization of land use right and intangible assets 194 205
Noncash lease expenses 664 658
Share-based compensation 11,865 17,929
Changes in fair value of warrant liability (42) (17)
(Reversal)/ allowance of credit losses 578 (1,094)
Product warranty 3,269 2,530
Changes in operating assets and liabilities:    
Notes receivable 10,577 (21,340)
Accounts receivable 12,011 32,293
Inventories 16,341 (7,039)
Prepaid expenses and other current assets 4,305 (857)
Operating lease right-of-use assets (323) (2,493)
Other non-current assets (275) 288
Notes payable 1,042 (936)
Accounts payable (27,843) (3,956)
Advance from customers (1,694) (1,179)
Accrued expenses and other liabilities (10,623) (3,434)
Operating lease liabilities (500) 1,239
Other non-current liabilities (126) (108)
Net cash (used in) generated from operating activities 2,031 (11,166)
Cash flows from investing activities    
Purchases of property, plant and equipment (10,241) (35,922)
Purchase of short-term investments 0 (243)
Proceeds on disposal of property, plant and equipment 152 340
Proceeds from maturity of short-term investments 5,564 0
Net cash used in investing activities (4,525) (35,825)
Cash flows from financing activities    
Proceeds from borrowings 18,780 4,384
Repayment of bank borrowings (12,520) 0
Net cash generated from financing activities 6,260 4,384
Effect of exchange rate changes (5,251) 470
Decrease in cash, cash equivalents and restricted cash (1,485) (42,137)
Cash, cash equivalents and restricted cash at beginning of the period 88,189 302,617
Cash, cash equivalents and restricted cash at end of the period 86,704 260,480
Cash and cash equivalents 39,451 200,305
Restricted cash 47,253 60,175
Total cash, cash equivalents and restricted cash 86,704 260,480
Non-cash investing and financing activities    
Payable for purchase of property, plant and equipment $ 92,817 $ 58,121