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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net less $ (5,089) $ (1,170)
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 2,147 1,377
Loss from sale of property and equipment 52 102
Loss on deconsolidation of a subsidiary
Provision of (recovering from) bad debt allowance 298 (196)
Provision for obsolete inventories 3,759 3,583
Changes in fair value of trading securities (283) (262)
Changes in fair value of investment 479 28
Deferred income tax 701 17
Stock-based compensation 5 5
Changes in operating assets and liabilities    
Accounts receivable 14,815 6,509
Inventories (4,680) 6,805
Value added tax receivable 405 52
Other receivables and prepaid expenses (278) (367)
Advances on inventory purchases 3,150 2,544
Amounts due from related parties (1,089) (71)
Accounts payable (16,838) (14,690)
Accounts payable and other payables- related parties 226 (769)
Other payables and accrued liabilities (6,252) (3,221)
Value added and other taxes payable (1,067) (220)
Income tax payable 165 (358)
Net cash (used in) operating activities (9,374) (302)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (2,507) (1,378)
Net purchase (proceeds from) of trading securities 569 (983)
Investment payment (788)
Net cash used in investing activities (2,726) (2,361)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from bank loans 12,600 12,336
Repayment of bank loans (12,600) (6,168)
Repurchase of common stock (37)
Net collection of amounts due from related party (equity) 148
Net cash (used in) provided by financing activities (37) 6,316
EFFECT OF EXCHANGE RATE CHANGES ON CASH (962) (1,660)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (13,099) 1,993
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 97,341 121,723
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 84,242 123,716
Reconciliation of cash, cash equivalents and restricted cash reported within their consolidated balance sheets:    
Cash and Cash Equivalents 41,717 78,056
Restricted cash 42,525 45,660
Total 84,242 123,716
Cash paid during the period for:    
Interest 613 492
Income taxes $ 1,112 $ 729