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v3.23.1

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 income before tax | $ 1,557 | $ 2,031 | $ 1,322
Adjustments to reconcile net income to net cash provided by operating activities |  |  |
Depreciation of property and equipment | 800 | 822 | 1,137
Depreciation of right-of-use assets | 828 | 775 | 536
Inventories written down |  | 1,508 | 2,532
Gain on disposal of property and equipment | (2) | (305) | (237)
Provision (reverse) of impairment of trade receivables | 193 | (110) | (372)
Change in operating assets and liabilities: |  |  |
Accounts receivable | (942) | (1,190) | 4,763
Inventories | 940 | (2,757) | (5,726)
Accounts payable and accrued liabilities | 1,887 | (1,329) | (1,475)
Customer deposits | (4,387) | 5,797 | (958)
Income tax payable | (41) | 388 | 134
Net cash provided by operating activities | 833 | 5,630 | 1,656
Cash flows from investing activities: |  |  |
Purchase of property and equipment | (817) |  | (637)
Proceeds from disposal of property and equipment | 2 | 343 | 72
Investment in financial assets available for sales | (325) |  |
Net cash (used in) generated from investing activities | (1,140) | 343 | (565)
Cash flows from financing activities: |  |  |
Repayment of bank borrowings | (105) | (3,712) | (388)
Repayment of lease liabilities | (114) | (1,046) | (511)
Net cash used in financing activities | (219) | (4,758) | (899)
Effect on exchange rate change on cash and cash equivalents | (4) | (7) |
Net change in cash and cash equivalent | (530) | 1,208 | 192
BEGINNING OF YEAR | 1,533 | 325 | 133
END OF YEAR | 1,003 | 1,533 | 325
SUPPLEMENTAL CASH FLOW INFORMATION: |  |  |
Cash (paid) refund for income taxes | (40) | 158 | 134
Cash paid for interest | $ 748 | $ 717 | $ 858

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