|
Net income (loss)
|
|
$8.7m
|
$7.9m
|
$9.8m
|
($7.4m)
|
$820k
|
|
Less: net income (loss) from discontinued operations
|
|
—
|
—
|
$343k
|
($6.3m)
|
$3.6m
|
|
Net (loss) income from continuing operations
|
|
—
|
—
|
$9.4m
|
($1.1m)
|
($2.8m)
|
|
Effect of exchange rate changes on cash and cash equivalents from continuing operations
|
|
($248k)
|
$66k
|
($56k)
|
$259k
|
($167k)
|
|
Effect of exchange rate changes on cash and cash equivalents from discontinued operations
|
|
—
|
—
|
($34k)
|
($27k)
|
$3k
|
|
Net (decrease) increase in cash and cash equivalents, including cash and cash equivalents classified to assets of discontinued operations
|
|
$2.4m
|
($947k)
|
$7.6m
|
$2.0m
|
($6.2m)
|
|
Less: net increase (decrease) in cash and cash equivalents of discontinued operations
|
|
—
|
—
|
$729k
|
($1.7m)
|
$28k
|
|
Net (decrease) increase in cash and cash equivalents of continuing operations
|
|
—
|
—
|
$6.8m
|
$3.7m
|
($6.2m)
|
|
Cash and cash equivalents of continuing operations at beginning of year
|
|
$6.7m
|
$5.8m
|
$13.3m
|
$15.3m
|
$9.0m
|
|
Reduction of dividend payables due to disposal of discontinued operations
|
|
—
|
—
|
—
|
—
|
$10.0m
|
|
Net settlement of dividends payable with due from related parties from continuing operations
|
|
—
|
—
|
—
|
—
|
$1.1m
|
|
Net settlement of due from related parties and due to related parties within continuing operations
|
|
—
|
—
|
$1.3m
|
$3.5m
|
$3.2m
|
|
Net settlement of due from related parties and due to related parties between continuing operations and discontinued operations
|
|
—
|
—
|
$1.3m
|
$9.2m
|
$962k
|
|
Depreciation expenses
|
|
$126k
|
$131k
|
$223k
|
$224k
|
$54k
|
|
Amortization of right of use assets
|
|
—
|
$286k
|
$658k
|
$612k
|
$55k
|
|
Deferred income tax expenses (benefits)
|
|
($706k)
|
($610k)
|
($1.1m)
|
($2.3m)
|
$1.5m
|
|
Gain from disposal of property and equipment
|
|
—
|
—
|
—
|
($31k)
|
—
|
|
Operating lease right-of-use assets obtained in exchange for operating lease liabilities
|
|
—
|
$273k
|
$2.4m
|
$13k
|
$252k
|
|
Write-down of inventories
|
|
—
|
$31k
|
$12k
|
$4.9m
|
—
|
|
Provision of expected credit loss against other receivables
|
|
—
|
—
|
—
|
$2.1m
|
—
|
|
Accounts receivable
|
|
($5.2m)
|
($10.9m)
|
$6.4m
|
($855k)
|
$2.7m
|
|
Accounts receivable – related parties
|
|
—
|
—
|
$1.6m
|
($1.3m)
|
$1.1m
|
|
Prepayment and other current assets
|
|
($6.4m)
|
$4.1m
|
$198k
|
($864k)
|
($4.1m)
|
|
Inventories
|
|
($4.0m)
|
($8.9m)
|
$1.1m
|
$6.1m
|
$3.3m
|
|
Other non-current assets
|
|
($342k)
|
($300k)
|
($591k)
|
$25k
|
$188k
|
|
Accounts payable
|
|
$2.9m
|
($2.3m)
|
$2.8m
|
($1.2m)
|
($7.9m)
|
|
Advance from customers
|
|
$1.9m
|
($1.8m)
|
$19k
|
($16k)
|
$683k
|
|
Income tax payable
|
|
$996k
|
$871k
|
$2.6m
|
($2.3m)
|
$1.5m
|
|
Lease liabilities
|
|
—
|
($139k)
|
($712k)
|
($829k)
|
($74k)
|
|
Other payable and accrued expenses
|
|
$262k
|
$274k
|
$728k
|
$646k
|
$1.2m
|
|
Amount due to related parties, current
|
|
($9k)
|
($17k)
|
($43k)
|
$287k
|
($967k)
|
|
Purchase of property and equipment
|
|
($175k)
|
($196k)
|
($455k)
|
($71k)
|
($27k)
|
|
Loans to third parties
|
|
—
|
—
|
($1.2m)
|
—
|
($1.2m)
|
|
Collection of loans from a third party
|
|
—
|
—
|
$720k
|
—
|
$500k
|
|
Payment to Shanghai Jingyue (Note 3)
|
|
—
|
—
|
—
|
—
|
($3.2m)
|
|
Advances to related parties
|
|
($141k)
|
($2.6m)
|
($3.0m)
|
($160k)
|
($8k)
|
|
Collection of advances from related parties
|
|
$369k
|
$1.7m
|
$4.2m
|
$178k
|
$8k
|
|
Proceeds from short-term borrowings
|
|
$34.5m
|
$85.5m
|
$58.2m
|
$38.3m
|
$27.2m
|
|
Repayments of short-term borrowings
|
|
($34.3m)
|
($73.2m)
|
($70.8m)
|
($33.2m)
|
($26.0m)
|
|
Borrowings from related parties
|
|
$35.3m
|
$18.3m
|
$25.4m
|
$12.1m
|
$9.2m
|
|
Repayment of short-term borrowings to related parties
|
|
($28.3m)
|
($15.0m)
|
($25.4m)
|
($18.3m)
|
($8.8m)
|
|
Proceeds from long-term borrowings
|
|
—
|
—
|
—
|
$2.2m
|
—
|
|
Payment of offering costs
|
|
($149k)
|
($225k)
|
($3.1m)
|
—
|
—
|
|
Payment to repurchase of Class B ordinary shares
|
|
—
|
—
|
($433k)
|
($866k)
|
—
|
|
Proceeds from issuance of convertible notes
|
|
—
|
—
|
—
|
$4.0m
|
—
|
|
Cash refunded for income tax
|
|
—
|
—
|
—
|
$361k
|
$263k
|
|
Accretion of convertible redeemable preferred shares
|
|
—
|
$136k
|
$160k
|
—
|
—
|
|
Issuance of Class B ordinary shares to a financial advisor
|
|
—
|
$6.8m
|
$6.2m
|
—
|
—
|
|
Issuance of Class B ordinary shares for conversion of convertible notes
|
|
—
|
—
|
—
|
$2.7m
|
—
|
|
Due from a third party for disposal of property and equipment
|
|
—
|
—
|
—
|
$104k
|
—
|
|
Net cash (used in) provided by operating activities from continuing operations
|
|
($1.9m)
|
($12.8m)
|
$25.5m
|
($3.7m)
|
($3.6m)
|
|
Net cash provided by (used in) operating activities from discontinued operations
|
|
($1.9m)
|
($12.8m)
|
($1.9m)
|
$1.5m
|
$4.8m
|
|
Net cash provided by (used in) operating activities
|
|
($1.9m)
|
($12.8m)
|
$23.6m
|
($2.2m)
|
$1.2m
|
|
Net cash (used in) provided by investing activities from continuing operations
|
|
—
|
—
|
$409k
|
($52k)
|
($4.0m)
|
|
Net cash used in investing activities from discontinued operations
|
|
—
|
—
|
($155k)
|
($973)
|
($312k)
|
|
Net cash (used in) provided by investing activities
|
|
$53k
|
($1.1m)
|
$254k
|
($53k)
|
($4.3m)
|
|
Payments of dividends to shareholders
|
|
($2.6m)
|
($6.9m)
|
($57k)
|
($58k)
|
($58k)
|
|
Net cash provided by (used in) financing activities from continuing operations
|
|
—
|
—
|
($19.0m)
|
$7.2m
|
$1.6m
|
|
Net cash (used in) provided by financing activities from discontinued operations
|
|
—
|
—
|
$2.8m
|
($3.2m)
|
($4.5m)
|
|
Net cash (used in) provided by financing activities
|
|
$4.5m
|
$12.9m
|
($16.2m)
|
$4.0m
|
($2.9m)
|
|
Cash paid for interest expense
|
|
$788k
|
$620k
|
$848k
|
$247k
|
$575k
|
|
Cash paid for income tax
|
|
$1.1m
|
$1.2m
|
$483k
|
$2.7m
|
$393k
|