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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Carrying Amounts and Estimated Fair Values of Financial Instruments

The following table presents the carrying amounts and estimated fair values of our Company’s financial instruments at December 31, 2020 and 2021.

(in US$ thousands)		2020								2021
		Carrying amount				Fair value				Carrying amount				Fair value
Financial assets
Cash and cash equivalents		$	45,702			$	45,702			$	41,455			$	41,455
Accounts receivable			275				275				265				265
Restricted cash			300				300				306				306
Refundable deposits			208				208				211				211
Marketable securities - noncurrent			10,000				10,000				10,322				10,322
Financial liabilities
Accounts payable			70				70				118				118
Accrued expenses			1,516				1,516				1,435				1,435
Lease liabilities - current and noncurrent			98				98				1,987				1,987

Summary of Assets and Liabilities Measured at Fair Value

Assets and liabilities measured at fair value on a recurring basis are summarized as below:

(in US$ thousands)		Fair Value Measurement Using
		Level 1				Level 2				Level 3				At December 31, 2021
Assets
Restricted cash - time deposits		$	—			$	306			$	—			$	306
Marketable securities - noncurrent			—				—				10,322				10,322
		$	—			$	306			$	10,322			$	10,628

(in US$ thousands)		Fair Value Measurement Using
		Level 1				Level 2				Level 3				At December 31, 2020
Assets
Cash equivalents - time deposits		$	—			$	6			$	—			$	6
Restricted cash - time deposits			—				300				—				300
Marketable securities - noncurrent			—				—				10,000				10,000
		$	—			$	306			$	10,000			$	10,306

Reconciliation of Beginning and Ending Balances of Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs Level Three

For assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during 2020 and 2021, a reconciliation of the beginning and ending balances are presented as follows:

(in US$ thousands)		Marketable Securities - Debt Securities				Marketable Securities - Debt and Equity Securities
		2020				2021
Balance at beginning of year		$	—			$	10,000
Purchase			10,000				2,190
Disposal			—				(2,033	)
Total gains or (losses) (realized/unrealized)
included in earnings			—				—
included in other comprehensive income - unrealized gain (loss) on security			(351	)			(124	)
included in other comprehensive income - foreign currency items			351				289
Balance at end of year		$	10,000			$	10,322
The amount of total gains or (losses) for the period    included in earnings attributable to the change in    unrealized gains or losses relating to assets still held at    the reporting date.		$	—			$	—

Level 3

Summary of Significant Unobservable Inputs Used in Fair Value Measurements Categorized Within Level 3 of Fair Value Hierarchy

The significant unobservable inputs used in the fair value measurements categorized within Level 3 of the fair value hierarchy, together with a quantitative sensitivity analysis as of December 31, 2020 and 2021 are shown below: Marketable securities-Level 3 financial assets
Calculation Date	Valuation Technique	Significant Unobservable Inputs	Rate for debt investment	Rate for equity investment	Sensitivity of the Input to Fair Value
December 31, 2021	The backsolve method to estimate the enterprise value, and then the option pricing method to allocate equity value among various classes of stakeholders.	Discount for lack of marketability (“DLOM”)	From 9. 0% to 18. 0% for different scenarios	From 11.0% to 18.0% for different scenarios	1% increase or decrease in DLOM would result in a variation in the debt investment’s fair value by approximately $93 thousand and in the equity investment’s fair value by approximately $26 thousand.
		Volatility	36.0%	36.0%	1% increase or decrease in volatility would result in a variation in the debt investment’s fair value by approximately $9 thousand and in the equity investment’s fair value by approximately $13 thousand.
December 31, 2020	The backsolve method to estimate the enterprise value, and then the option pricing method to allocate equity value among various classes of stakeholders	Discount for lack of marketability (“DLOM”)	From 13.50% to 26.00% for different scenarios	-	1% increase or decrease in DLOM would result in a variation in the debt investment’s fair value by approximately $120 thousand.
		Volatility	41.0%	-	1% increase or decrease in volatility would result in a variation in the debt investment’s fair value by less than $30 thousand.

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