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Subsequent Event
6 Months Ended
Jun. 30, 2022
Subsequent Event.  
Subsequent Event

Note 20. Subsequent Event

In July, we received a $1.5 million dividend from one of our equity investments, Xiaoyi XingAn Gallium Co., Ltd.

In July and August 2022, ChaoYang JinMei completed the initial funding of $1.0 million in our consolidated subsidiary, ChaoYang ShuoMei. In August 2022, noncontrolling interest contributed $334,000 in ChaoYang ShuoMei. As a result, noncontrolling interests increased $406,000 and redeemable noncontrolling interests increased $73,000.

In July 2022, Tongmei further contributed $0.8 million in our consolidated subsidiary, ChaoYang XinMei. Noncontrolling interest further contributed $0.6 million in ChaoYang XinMei. This completed the agreed amount in the April capital increase agreement. As a result, noncontrolling interests increased $610,000 and redeemable noncontrolling interests increased $57,000. Tongmei’s ownership remained at 58.5% after the July 2022 equity investment.

In August 2022, Tongmei entered into a credit facility with NingBo Bank for $1.5 million with an annual interest rate of 4.8%. The repayment of the loan and any accrued interest is due in August 2023.