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Subsequent Event
6 Months Ended
Jun. 30, 2023
Subsequent Event  
Subsequent Event

Note 20. Subsequent Event

In July 2023, the Company obtained $4.2 million in new one-year bank loans with interest rates ranging from 3.8% to 4.3%. The new bank loans are unsecured. The Company also repaid $2.8 million of an existing loan in July 2023.

Tongmei made an investment in July 2023 and August 2023, of approximately $0.6 million each in one of our equity investments, ChaoYang KaiMei. Tongmei’s ownership of ChaoYang KaiMei remained at 40% after these equity investments.