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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 1,003 $ 1,533
Accounts receivable, net 8,021 5,692
Inventories 31,442 32,874
Amounts due from related parties 50 12
Financial assets available for sales 325
Deposits, prepayments and other receivables 3,230 5,007
Total current assets 44,071 45,118
Non-current assets:    
Property and equipment, net 7,218 7,720
Right-of-use assets 1,489 1,769
Deferred tax assets 8 8
Total non-current assets 8,715 9,497
TOTAL ASSETS 52,786 54,615
Current liabilities:    
Accounts payable and accrued liabilities 4,781 4,413
Customer deposits 5,884 10,427
Amounts due to related parties 17,167 15,952
Bank borrowings 8,862 7,412
Lease liabilities 3,484 1,947
Income tax payable 1,007 522
Total current liabilities 41,185 40,673
Long-term liabilities:    
Bank borrowings 3,175 4,914
Lease liabilities 2,114 3,670
Total long-term liabilities 5,289 8,584
TOTAL LIABILITIES 46,474 49,257
Commitments and contingencies
Shareholders’ equity    
Ordinary share, par value US$0.00025, 400,000,000 shares authorized, 24,800,000 ordinary shares issued and outstanding 6 6
Additional paid-in capital 5,440 5,440
Retained earnings 1,235 257
Non-controlling interest 50
Accumulated other comprehensive loss (419) (345)
Total shareholders’ equity 6,312 5,358
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 52,786 $ 54,615