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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net loss $ (158,200) $ (206,483) $ (33,625)
Adjustments to reconcile net loss to net cash generated from/(used in) operating activities:      
Loss /(Gain) on disposal of property, plant and equipment (14) 13 207
Depreciation of property, plant and equipment 19,811 19,975 16,097
Amortization of land use rights and intangible assets 554 738 695
Noncash lease expenses 2,214 0 0
Share-based compensation 90,808 82,894 0
Changes in fair value of warrant liability (979) (2,469) 0
Changes in fair value of Bridge Notes 0 9,861 0
(Reversal)/allowance of doubtful accounts 1,640 721 (240)
Provision for obsolete inventories 4,789 18,295 1,343
Impairment loss from property, plant and equipment 1,798 2,443 567
Product warranty 14,097 52,932 3,477
Changes in operating assets and liabilities:      
Notes receivable 3,187 10,016 13,940
Accounts receivable (38,924) (11,844) (3,599)
Inventories (43,694) (25,892) 13,611
Prepaid expenses and other current assets 3,628 (10,980) (1,693)
Amounts due from/to related parties 85 (84) 1,872
Operating lease right-of-use assets (19,375) 0 0
Other non-current assets (282) (2,135) (139)
Notes payable 13,490 24,159 (1,643)
Accounts payable 7,146 (2,499) 3,818
Advance from customers 53,022 (971) (1,395)
Accrued expenses and other liabilities (24,674) (5,947) 2,256
Operating lease liabilities 14,999 0 0
Other non-current liabilities 946 2,218 0
Income tax payables 0 0 7
Net cash generated from/(used in) operating activities (53,928) (45,039) 15,556
Cash flows from investing activities      
Purchases of property, plant and equipment (150,880) (87,862) (18,645)
Proceeds on disposal of property, plant and equipment 5 0 13
Purchase of short-term investments (25,070) 0 (4,635)
Proceeds from maturity of short-term investments 0 0 5,593
Net cash used in investing activities (175,945) (87,862) (17,674)
Cash flows from financing activities      
Proceeds from bank borrowings 58,708 38,926 17,308
Repayment of bonds payable (29,259) 0 0
Repayment of bank borrowings (24,482) (37,568) (17,815)
Loans borrowing from related parties 0 8,426 18,889
Repayment of related party loans 0 (8,426) (18,889)
Cash received from the trust account upon Merger, net of transaction costs (Note 3) 0 222,629 0
Cash received from Private Investment in Public Equity (“PIPE”) investors upon Merger (Note 3) 0 482,500 0
Payment to exited noncontrolling interests (Note 19) 0 (139,038) 0
Issuance of Bridge Notes (Note 14) 0 57,500 0
Net cash (used in)/generated from financing activities 4,967 624,949 (507)
Effect of exchange rate changes (8,586) 2,865 2,037
(Decrease) Increase in cash, cash equivalents and restricted cash (233,492) 494,913 (588)
Cash, cash equivalents and restricted cash at beginning of the year 536,109 41,196 41,784
Cash, cash equivalents and restricted cash at end of the year 302,617 536,109 41,196
Reconciliation to amounts on consolidated balance sheets      
Cash and cash equivalents 231,420 480,931 21,496
Restricted cash 71,197 55,178 19,700
Total cash, cash equivalents and restricted cash 302,617 536,109 41,196
Supplemental disclosure of cash flow information      
Interest paid 5,135 2,686 1,969
Income tax paid 0 0 0
Non-cash investing and financing activities      
Payable for redemption of noncontrolling interest 0 0 124,316
Payable for purchase of property, plant and equipment $ 29,183 $ 18,500 $ 15,122