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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ (92) $ 3,273
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 6,404 5,291
Loss from sale of property and equipment 610 209
Loss on deconsolidation of a subsidiary 1,085
Provision of bad debt allowance 1,429 1,117
Provision for obsolete inventories 6,735 6,753
Changes in fair value of trading securities (150) (131)
Changes in fair value of investment (1,641) (819)
Deferred income tax 24 154
Stock-based compensation 10 10
Changes in operating assets and liabilities    
Accounts receivable (16,737) 27,173
Inventories (15,483) 10,161
Value added tax receivable (416) 1,336
Other receivables and prepaid expenses (710) (135)
Advances on inventory purchases 2,418 (28)
Amounts due from related parties 3,563 (480)
Accounts payable (2,238) (9,316)
Accounts payable and other payables- related parties (3,142) 1,145
Other payables and accrued liabilities 3,083 (3,098)
Value added and other taxes payable 71 (806)
Income tax payable (747) (148)
Net cash (used in) provided by operating activities (17,009) 40,456
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (10,123) (6,354)
Net purchase of trading securities (1,309) (1,665)
Investment payment (775) (2,936)
Net cash used in investing activities (12,207) (10,955)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from bank loans 73,340 90,729
Repayment of bank loans (71,790) (58,658)
Repurchase of common stock 363
Net collection of amounts due from related party (equity) 863 1,848
Net cash provided by financing activities 2,776 33,919
EFFECT OF EXCHANGE RATE CHANGES ON CASH 2,058 7,548
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (24,382) 70,968
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 121,723 50,755
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 97,341 121,723
Reconciliation of cash, cash equivalents and restricted cash reported within their consolidated balance sheets:    
Cash and Cash Equivalents 56,573 81,865
Restricted cash 40,768 39,858
Total 97,341 121,723
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Net asset (liabilities) derecognized due to deconsolidation of a subsidiary 1,164
Cash paid during the period for:    
Interest 2,391 2,345
Income taxes $ 2,945 $ 2,469