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BASIS OF PRESENTATION (Tables)

6 Months Ended

Jun. 30, 2021

The following tables represent the financial information of the VIEs whom the Company does not have majority voting interests as of December 31, 2020 and June 30, 2021 and for the six months ended June 30, 2020 and 2021 before eliminating the intercompany balances and transactions between the VIEs and other entities within the group:

	As of December 31,		As of June 30,
	2020		2021
	$		$

ASSETS:
Current assets:
Cash and cash equivalents		94,502		97,396
Amounts due from intercompanies ⁽¹⁾		44,928		141,878
Others		79,484		66,892

Total current assets		218,914		306,166

Non-current assets:
Property and equipment, net		35,453		33,988
Long-term investments		16,080		17,313
Deferred tax assets		47,948		48,776
Others		37,662		23,682

Total non-current assets		137,143		123,759

Total assets		356,057		429,925

	As of December 31,		As of June 30,
	2020		2021
	$		$
LIABILITIES:
Current liabilities:
Accrued expenses and other payables		91,186		112,185
Deferred revenue		212,377		204,926
Amounts due to intercompanies ⁽¹⁾		70,019		116,898
Others		31,104		28,104

Total current liabilities		404,686		462,113

Non-current liabilities:
Deferred revenue		55,200		70,953
Amounts due to intercompanies ⁽¹⁾		15,710		30,910
Others		18,418		6,759

Total non-current liabilities		89,328		108,622

Total liabilities		494,014		570,735

	For the Six Months ended June 30,
	2020			2021
	$			$

Revenue
- Third party customers		262,801			333,847
- Intercompanies		70,363			84,876

Net loss		(28,770	)		(19,089	)

	For the Six Months ended June 30,
	2020			2021
	$			$

Net cash generated from (used in) operating activities		59,030			(12,218	)
Net cash (used in) generated from investing activities		(25,122	)		500
Net cash generated from financing activities		32,220			14,025

⁽¹⁾

Amounts due from or to intercompanies consist of intercompany receivables or payables to the other companies within the group arising from intercompany transactions and funds advanced for working capital purpose.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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