XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.21.1

LONG-TERM BORROWINGS | 3 Months Ended
--- | ---
Mar. 31, 2021
LONG-TERM BORROWINGS [Abstract] |
LONG-TERM BORROWINGS | NOTE 12 – LONG-TERM BORROWINGS At March 31, 2021 and December 31, 2020, long-term borrowings consisted of the following:
|  | March 31, 2021 |  |  | December 31, 2020 |
Loan from China Merchants Bank |  | $ | 19,042 |  |  | $ | 19,570 |
Less: Current portion |  |  | (1,598 | ) |  |  | (1,591 | )
|  | $ | 17,444 |  |  | $ | 17,979 |
The loan from China Merchants Bank is for the purpose of purchasing property in Lingang, Shanghai. The loan is repayable in 120 installments with the last installment due in November 2030, with an annual interest rate of 4.65%. The loan is pledged by the property of ACM Shengwei and guaranteed by ACM Shanghai. As of March 31, 2021, the right certificate of the pledged property has not been obtained and the procedures of the formal pledge registration in the bank had not been completed. Scheduled principal payments for the outstanding long-term loan as of March 31, 2021 are as follows:
Year ending December 31, |  |  |
2021 |  | $ | 1,191 |
2022 |  |  | 1,654 |
2023 |  |  | 1,733 |
2024 |  |  | 1,815 |
2025 and onwards |  |  | 12,649 |
|  | $ | 19,042 |
For the three months ended March 31, 2021, interest related to long-term borrowings of $317 was incurred, of which $0 was charged to interest expenses and $317 was capitalized as other long-term assets.

X
- References No definition available. + Details
Name: | us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration