XML 44 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income (loss) $ (11,791) $ (19,193) $ 18,742
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 8,979 8,722 8,119
Amortization of marketable securities premium   18 58
Stock-based compensation 3,097 3,540 4,006
Provision for credit losses   272 (177)
Loss on sale of equity investment   166  
(Gain) loss on disposal of equipment 118 21 (85)
Return of equity method investments as dividends 2,396 4,316 1,608
Equity in income of unconsolidated joint ventures (3,439) (2,050) (5,957)
Deferred tax assets 265 553 104
Changes in operating assets and liabilities:      
Accounts receivable (6,896) 9,306 4,535
Inventories (737) 1,073 (31,412)
Prepaid expenses and other current assets (6,002) (652) (3,486)
Other assets 1,261 419 (471)
Accounts payable 3,038 (162) (5,519)
Accrued liabilities 1,004 (1,897) (2,127)
Other long-term liabilities (3,405) (1,049) 3,297
Net cash provided by (used in) operating activities (12,112) 3,403 (8,765)
Cash flows from investing activities:      
Purchases of property, plant and equipment (5,771) (10,475) (28,465)
Purchases of available-for-sale debt securities     (2,158)
Proceeds from sales and maturities of available-for-sale debt securities 2,160 9,582 5,400
Proceeds from sales of equity securities - 15% Jia Mei   827  
Investments in non-marketable equity investments (834) (2,538)  
Net cash used in investing activities (4,445) (2,604) (25,223)
Cash flows from financing activities:      
Proceeds from common stock options exercised 28 10 518
Proceeds from short-term bank loans 54,501 56,470 53,078
Payments on short-term bank loans (60,092) (49,210) (17,798)
Proceeds from capital increase in subsidiary shares from noncontrolling interests   708 2,233
Proceeds from long-term loan 5,831 635  
Payments on long-term loan (804)    
Net cash provided by (used in) financing activities (536) 8,613 38,031
Effect of exchange rate changes on cash, restricted cash and cash equivalents 790 (646) 542
Net increase (decrease) in cash, restricted cash and cash equivalents (16,303) 8,766 4,585
Cash, restricted cash and cash equivalents at the beginning of the year 50,114 41,348 36,763
Cash, restricted cash and cash equivalents at the end of the period 33,811 50,114 41,348
Supplemental disclosures:      
Income taxes paid, net of refunds 962 686 1,692
Interest expense paid 2,069 1,564  
Supplemental disclosure of non-cash flow information:      
Loan proceeds received by notes receivable   1,481  
Notes receivables paid to purchase fixed assets 4,572 4,170 6,835
Non-cash consideration received from sale of DongFang   585  
Conversion of related party borrowings to Additional Paid-in Capital     1,887
Investment in subsidiary shares from noncontrolling interest   308 937
Bank loan proceeds paid directly to a third-party vendor, included in accounts payable     474
Sales of land and building to unconsolidated joint venture     976
Consideration payable in connection with construction in progress, included in accrued liabilities $ 857 $ 6,574 $ 4,135