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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 41,717 $ 56,573
Restricted cash 42,525 40,768
Trading securities 2,965 3,251
Accounts receivable, net 55,025 69,859
Inventories 65,013 63,841
Advances on inventory purchases 5,065 8,179
Value added tax receivable 1,296 1,693
Other receivables and prepaid expenses 6,732 6,345
Amounts due from related parties 1,308 220
Total Current Assets 221,646 250,729
NON-CURRENT ASSETS    
Equity security investment 5,229 5,682
Intangible assets, net 4,770 4,794
Property and equipment, net 36,838 36,340
Operating lease right-of-use assets 52,751 50,077
Deferred tax assets 202 899
Other non-current assets 1,575 784
Total Non-Current Assets 101,365 98,576
TOTAL ASSETS 323,011 349,305
CURRENT LIABILITIES    
Bank loans 69,300 68,992
Accounts payable 50,533 67,930
Accounts payable and other payables – related parties 1,474 1,332
Other payables and accrued liabilities 13,288 18,531
Value added and other taxes payable 999
Income tax payable 500 334
Current operating lease liabilities 44,287 41,633
Total Current Liabilities 179,382 199,751
NON-CURRENT LIABILITIES    
Non-current operating lease liabilities 8,628 8,596
TOTAL LIABILITIES 188,010 208,347
COMMITMENTS AND CONTINGENCIES (Note 9)
STOCKHOLDERS’ EQUITY    
Common stock ($0.001 par value, authorized 50,000,000 shares, 14,814,354 and 14,812,312 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively) 15 15
Additional paid-in capital 3,665 3,660
Retained earnings 103,121 108,210
Statutory reserve 21,245 21,245
Treasury stock (at cost,162,080 and 147,334 shares at March 31,2022 and December 31, 2021, respectively) (400) (363)
Accumulated other comprehensive income 7,355 8,191
Total equity 135,001 140,958
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 323,011 $ 349,305