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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,318 $ 3,306
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 4,491 4,903
Loss from sale of property and equipment 53 6
Provision of bad debt allowance 682
Provision for obsolete inventories 1,824 1,626
Deferred income tax (1,461) (843)
Stock-based compensation 8
Changes in operating assets and liabilities    
Accounts receivable 21,793 20,150
Inventories 1,145 (10,873)
Value added tax receivable 504 681
Other receivables and prepaid expenses 3,502 (8,942)
Advances on inventory purchases (2,353) (7,145)
Amounts due from related parties (129) 1,117
Accounts payable (25,954) (14,296)
Accounts payable and other payables- related parties 58 (1,485)
Other payables and accrued liabilities (10,789) 8,006
Value added and other taxes payable (4,684) (5,924)
Income tax payable 207 (942)
Net cash used in operating activities (9,785) (10,655)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (4,082) (6,295)
Net cash used in investing activities (4,082) (6,295)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from bank loans 16,320 28,111
Repayment of bank loans (19,904) (30,533)
Repayment of loans from related party 8,149 2,556
Advances to related party (5,454) (8,734)
Net cash used in financing activities (889) (8,600)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 2,270 (887)
NET DECREASE IN CASH AND CASH EQUIVALENTS (12,486) (26,437)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 47,012 62,876
CASH AND CASH EQUIVALENTS AT END OF PERIOD 34,526 36,439
Cash paid during the period for:    
Interest 771 924
Income taxes $ 2,436 $ 3,016