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SHORT-TERM BORROWINGS (Tables)

3 Months Ended

Mar. 31, 2021

SHORT-TERM BORROWINGS [Abstract]

Short-Term Borrowings

At March 31, 2021 and December 31, 2020, short-term and long-term borrowings consisted of the following:

		March 31, 2021				December 31, 2020
Line of credit up to RMB 80,000 from China Everbright Bank,
1)due on April 1, 2021 with an annual interest rate of 4.70%. *1 and fully repaid on March 23, 2021.			-				4,599
2)due on June 27, 2021 with an annual interest rate of 4.25%. *1			1,370				1,380
3)due on April 29, 2021 with an annual interest rate of 2.80%. *1 and fully repaid on March 23, 2021.			-				820
4)due on June 27, 2021 with an annual interest rate of 2.70%. *1			2,080				2,080
5)due on September 30, 2021 with an annual interest rate of 2.50%. *1			2,855				-
Line of credit up to RMB 20,000 from Bank of Communications,
1)due on April 12, 2021 with an annual interest rate of 4.65%.			1,522				1,533
2)due on May 24, 2021 with an annual interest rate of 3.65%.			1,522				1,533
Line of credit up to RMB 70,000 from Bank of Shanghai Pudong Branch,
1)due on May 27, 2021 with an annual interest rate of 4.68%. *2			2,557				2,575
2)due on June 27, 2021 with an annual interest rate of 4.68%. *2 and fully repaid on March 29, 2021.			-				1,380
3)due on May 28, 2021 with an annual interest rate of 3.48%. *2			2,442				2,442
4)due on June 7, 2021 with an annual interest rate of 3.50%. *2			1,521				1,521
5)due on June 16, 2021 with an annual interest rate of 3.50%. *2			1,837				1,838
Line of credit up to RMB 80,000 from China Merchants Bank,
1)due on August 10, 2021 with annual interest rate of 3.85%.			1,370				1,380
2)due on August 25, 2021 with annual interest rate of 3.85%.			3,044				3,066
3)due on February 1, 2022 with annual interest rate of 3.85%.			1,370				-
Total		$	23,490			$	26,147

*1 Guaranteed by ACM’s Chief Executive Officer

*2 Guaranteed by ACM’s Chief Executive Officer and CleanChip

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- References

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- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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