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INVESTMENT IN EQUITY METHOD INVESTEES
 12 Months Ended
Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENT IN EQUITY METHOD INVESTEES

5INVESTMENT IN EQUITY METHOD INVESTEES

 

Actions Microelectronics Co., Ltd (Beijing) ("Beijing Actions")

 

Beijing Actions is a private company which provides SoC chips and solutions to display and projection markets.

 

As of December 31, 2014 and 2015, the Group owned 45.8% interest of equity interest in Beijing Actions.

 

No change in ownership interest and no additional capital injection were noted for 2013, 2014 and 2015 and the Group continues its significant influence in Beijing Actions as of December 31, 2014 and 2015.

 

Nann Capital Corporation ("Nann Capital")

 

Nann Capital is a private investment holding company and the Group owned 40% interest of equity interest in Nann Capital. The Group exercise significant influence but did not control Nann Capital and the investment in Nann Capital is accounted for under the equity method of accounting.

 

In May 2014, the Group further invested $9,016 to maintain its 40% interest due to a capital contribution by all shareholders.

No change in ownership interest and no additional capital injection were noted for 2015.

 

The carrying value of equity method investees is illustrated as below:

 

   At December 31, 
   2014   2015 
Beijing Actions  $3,332   $3,336 
Nann Capital   24,020    23,626 
   $27,352   $26,962 

 

The summarized financial information prepared in accordance with U.S.GAAP of equity method investees is illustrated as below:

 

   2014   2015 
Balance sheets          
Current assets  $24,187   $18,757 
Non-current assets   44,439    46,436 
Current liabilities   1,200    572 
Non-current liabilities   -    - 

 

   2013   2014   2015 
Results of operations               
Revenues  $5,446   $9,144   $8,207 
Gross profit   3,056    5,478    4,632 
(Loss) income from operations   (933)   653    (397)
Net (loss) income  $(787)  $1,093   $(63)