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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 17,247 $ 12,876
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 6,050 5,085
Amortization of marketable securities premium 50 45
Stock-based compensation 3,261 3,430
Gain on disposal of equipment (136) (8)
Return of equity method investments (dividends) 1,608 774
Equity in income of unconsolidated joint ventures (5,308) (3,674)
Deferred tax assets 165  
Changes in operating assets and liabilities:    
Accounts receivable (5,406) (11,717)
Inventories (32,659) (8,302)
Prepaid expenses and other current assets 6,445 958
Other assets (1,461) (525)
Accounts payable (1,635) (1,423)
Accrued liabilities (2,927) (7,192)
Other long-term liabilities, including royalties 5,405 (1,064)
Net cash used in operating activities (9,301) (10,737)
Cash flows from investing activities:    
Purchases of property, plant and equipment (28,765) (19,095)
Purchases of available-for-sale debt securities (2,160) (6,691)
Proceeds from sales and maturities of available-for-sale debt securities 5,400 240
Net cash used in investing activities (25,525) (25,546)
Cash flows from financing activities:    
Proceeds from common stock options exercised 517 1,592
Proceeds from sale of subsidiary shares to noncontrolling interests   538
Proceeds from bank loans 42,352 5,845
Proceeds from long-term loan from noncontrolling interest   929
Payments on bank loans (9,826) (3,096)
Proceeds from capital increase in subsidiary shares from noncontrolling interest 2,232  
Formation of new subsidiary with noncontrolling interests   1,283
Costs from issuance of Tongmei's common stock to redeemable noncontrolling interests, net of proceeds   (12)
Net cash provided by financing activities 35,275 7,079
Effect of exchange rate changes on cash, restricted cash and cash equivalents (394) 210
Net increase (decrease) in cash, restricted cash and cash equivalents 55 (28,994)
Cash and cash equivalents at the beginning of the year 36,763 72,602
Cash, restricted cash and cash equivalents at the end of the period 36,818 $ 43,608
Supplemental disclosure of non-cash flow information:    
Conversion of related party borrowings to Additional Paid-in Capital 1,887  
Investment in subsidiary shares from noncontrolling interest 937  
Bank loan proceeds paid directly to a third-party vendor, included in accounts payable 474  
Sale of land and building to unconsolidated joint venture 976  
Consideration payable in connection with construction in progress, included in accrued liabilities $ 3,378