|
Net income
|
|
$6.0m
|
$6.6m
|
$7.8m
|
$10.3m
|
$10.8m
|
$12.2m
|
|
Depreciation and amortization of property and equipment
|
|
$4.7m
|
$5.9m
|
$7.0m
|
$6.4m
|
$6.4m
|
$6.4m
|
|
Amortization of operating lease expense
|
|
$8.6m
|
$9.5m
|
$10.8m
|
$9.3m
|
$6.6m
|
$4.6m
|
|
Amortization of intangible assets
|
|
$493k
|
$542k
|
$526k
|
$591k
|
$652k
|
$452k
|
|
Deferred income taxes
|
|
$1.3m
|
$1.5m
|
$1.2m
|
$1.5m
|
$589k
|
$341k
|
|
Loss (income) from equity method investment
|
|
($55k)
|
($70k)
|
($82k)
|
($19k)
|
($15k)
|
$41k
|
|
(Gain) loss on disposal of property and equipment
|
|
$180k
|
$145k
|
$89k
|
($283k)
|
$315k
|
($57k)
|
|
Operating lease liabilities
|
|
($8.5m)
|
($9.4m)
|
($11.3m)
|
($9.4m)
|
($6.8m)
|
($4.5m)
|
|
Operating lease right-of-use assets extinguished in exchange for operating lease liabilities
|
|
—
|
$12.2m
|
$9.7m
|
($1.3m)
|
($2.1m)
|
($181k)
|
|
(Recovery of) provision for credit losses
|
|
—
|
$447k
|
$1.2m
|
$566k
|
$88k
|
($95k)
|
|
(Gain) loss from disposal of subsidiaries
|
|
—
|
$247k
|
—
|
$90k
|
($8k)
|
—
|
|
Notes receivable
|
|
($1.6m)
|
$9.4m
|
($1.0m)
|
($682k)
|
($724k)
|
($111k)
|
|
Accounts receivable
|
|
($18.7m)
|
($3.2m)
|
($17.0m)
|
($10.7m)
|
($31.2m)
|
($5.8m)
|
|
Prepayments and other current assets
|
|
($5.0m)
|
($2.3m)
|
($2.0m)
|
$3.5m
|
$4.8m
|
$3.3m
|
|
Due from related parties
|
|
$226k
|
$30k
|
$600k
|
($40k)
|
($626k)
|
($4.4m)
|
|
Other non-current assets
|
|
($6.0m)
|
($3.8m)
|
—
|
($3.7m)
|
$2.9m
|
$945k
|
|
Accounts payable
|
|
$14.0m
|
$2.5m
|
$7.9m
|
$4.5m
|
$29.3m
|
($1.1m)
|
|
Due to related parties
|
|
$395k
|
($652k)
|
$600k
|
($600k)
|
$8k
|
$110k
|
|
Salary and welfare payable
|
|
$1.3m
|
$419k
|
($965k)
|
$1.5m
|
($1.5m)
|
$2.4m
|
|
Accrued expenses and other current liabilities
|
|
$1.8m
|
$110k
|
$551k
|
$177k
|
($8.2m)
|
$2.0m
|
|
Tax payables
|
|
$2.3m
|
($458k)
|
($453k)
|
$105k
|
$779k
|
$1.0m
|
|
Other non-current liabilities
|
|
$225k
|
$4k
|
$539k
|
$500k
|
$880k
|
($1.6m)
|
|
Investments deposit refund
|
|
—
|
—
|
—
|
$5.7m
|
$6.8m
|
$1.6m
|
|
Investments deposit
|
|
—
|
—
|
—
|
—
|
($9.1m)
|
—
|
|
Loan to a related party
|
|
—
|
—
|
—
|
—
|
—
|
($2.8m)
|
|
Loan to third parties
|
|
—
|
—
|
—
|
—
|
($5.8m)
|
($11.4m)
|
|
Loan repaid from a third party
|
|
—
|
—
|
—
|
—
|
$2.8m
|
—
|
|
Purchase of intangible assets
|
|
($19k)
|
($284k)
|
($340k)
|
($17.9m)
|
($9.1m)
|
—
|
|
Purchase of property and equipment
|
|
($7.9m)
|
($25.4m)
|
($6.9m)
|
($10.8m)
|
($29.5m)
|
($19.0m)
|
|
Proceeds from disposal of property and equipment
|
|
$118k
|
$1.3m
|
$533k
|
$1.2m
|
$1.3m
|
$255k
|
|
Proceeds from disposal of subsidiaries
|
|
—
|
$480k
|
—
|
$51k
|
$9.7m
|
—
|
|
Consideration deposit received from third parties
|
|
—
|
—
|
—
|
$2.8m
|
$140k
|
—
|
|
Proceeds from initial public offering
|
|
—
|
—
|
—
|
$8.5m
|
—
|
—
|
|
Proceeds from notes payable
|
|
—
|
—
|
$2.1m
|
$7.2m
|
$34.0m
|
$9.1m
|
|
Repayments of notes payable
|
|
—
|
—
|
—
|
($2.0m)
|
($27.4m)
|
($15.0m)
|
|
Proceeds from short-term bank loans
|
|
$62.3m
|
$62.6m
|
$61.3m
|
$46.4m
|
$50.3m
|
$54.4m
|
|
Repayments of short-term bank loans
|
|
($50.0m)
|
($67.6m)
|
($55.5m)
|
($48.7m)
|
($46.5m)
|
($50.2m)
|
|
Proceeds from long-term bank loans
|
|
—
|
—
|
—
|
—
|
$16.5m
|
$19.5m
|
|
Capital contribution from non-controlling shareholders
|
|
$277k
|
$3.4m
|
—
|
$556k
|
$2.1m
|
$238k
|
|
Payment of deferred issuance costs
|
|
—
|
—
|
($81k)
|
($279k)
|
—
|
—
|
|
Loans from third parties
|
|
—
|
—
|
—
|
—
|
—
|
$1.2m
|
|
Repayment to a third party
|
|
—
|
—
|
—
|
—
|
—
|
($600k)
|
|
Advance from a third-party
|
|
—
|
—
|
—
|
$7.2m
|
—
|
—
|
|
Liabilities (settled) incurred for purchase of property and equipment
|
|
$2.0m
|
$2.6m
|
($1.2m)
|
($387k)
|
$344k
|
($362k)
|
|
Disposition consideration settled by long term investment
|
|
—
|
—
|
—
|
—
|
—
|
$700k
|
|
Reclassification of deferred issuance costs
|
|
—
|
—
|
—
|
$81k
|
—
|
—
|
|
Net cash provided by operating activities
|
|
$2.3m
|
$16.6m
|
$6.9m
|
$12.1m
|
$15.0m
|
$16.1m
|
|
Purchase of long-term investments
|
|
—
|
—
|
—
|
—
|
—
|
($6.2m)
|
|
Net cash used in investing activities
|
|
($7.8m)
|
($23.9m)
|
($6.7m)
|
($18.8m)
|
($32.6m)
|
($37.4m)
|
|
Dividend received from investment
|
|
—
|
—
|
—
|
$114k
|
—
|
—
|
|
Dividend to non-controlling shareholders
|
|
($43k)
|
—
|
($254k)
|
—
|
—
|
($28k)
|
|
Net cash provided by financing activities
|
|
$13.1m
|
($2.1m)
|
$6.0m
|
$13.2m
|
$29.1m
|
$18.8m
|
|
Effects of exchange rate changes on cash, cash equivalents and restricted cash
|
|
$1.7m
|
$538k
|
($1.8m)
|
($558k)
|
($533k)
|
$867k
|
|
Net (decrease) increase in cash, cash equivalents and restricted cash
|
|
$9.4m
|
($8.9m)
|
$4.5m
|
$5.9m
|
$10.9m
|
($1.6m)
|
|
Cash, cash equivalents and restricted cash, beginning of year
|
|
$27.8m
|
$18.9m
|
$23.4m
|
$29.3m
|
$40.2m
|
$38.6m
|
|
Cash and cash equivalents
|
|
—
|
$18.6m
|
$21.3m
|
$26.7m
|
$34.7m
|
$35.3m
|
|
Restricted cash
|
|
$467k
|
$275k
|
$2.1m
|
$2.6m
|
$5.5m
|
$3.3m
|
|
Cash paid for interest
|
|
$2.0m
|
$2.2m
|
$2.2m
|
$1.8m
|
$1.9m
|
$2.3m
|
|
Cash paid for income tax
|
|
$268k
|
$247k
|
$187k
|
$634k
|
$589k
|
$1.5m
|