Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2014

Related sales and purchases: During the years ended December 31, 2014 and 2013, the joint ventures entered into related party transactions with companies with common directors as shown below (figures are in thousands of USD):

Merchandise Sold to Related Parties

	Year Ended December 31,
	2014		2013
Xiamen Joylon	$	7,159	$	6,152
Xiamen Automotive Parts		4,327		2,757
Shanghai Fenglong		384		406
JingzhouYude		3		583
Jingzhou Tongying		1,321		-
Beijing Henglong		37,176		27,283
Other Related Parties		72		272
Total	$	50,442	$	37,453

Technology Sold to Related Parties

	Year Ended December 31,
	2014		2013

Beijing Henglong	$	88	$	88

Rental income obtained from related parties

	Year Ended December 31,
	2014		2013

Total rental income	$	111	$	-

Materials sold to related parties

	Year Ended December 31,
	2014		2013
Jingzhou Tongying		638		-
Jiangling Tongchuang		204		-
Jingzhou Yude		910		-
Other Related Parties		92		-
Total	$	1,844	$	-

Materials Purchased from Related Parties

	Year Ended December 31,
	2014		2013

Honghu Changrun	$	891	$	1,258
Jiangling Tongchuang		7,243		9,025
Jingzhou Tongying		11,206		12,622
Hubei Wiselink		1,629		1,106
Wuhan Tongkai		2,536		1,897
Other Related Parties		1		8
Total	$	23,506	$	25,916

Technology and Services Purchased from Related Parties

	Year Ended December 31,
	2014		2013

Changchun Hualong	$	407	$	422
Jingzhou Derun		-		492
Honghu Changrun		-		285
Beijing Hualong		287		432
Hubei Asta		204		-
Total		898		1,631

Equipment Purchased from Related Parties

	Year Ended December 31,
	2014		2013

Hubei Wiselink	$	3,365	$	5,373

Related receivables, advance payments and account payable: As at December 31, 2014 and 2013, accounts receivables, advance payments and account payable between the Company and related parties are as shown below (figures are in thousands of USD):

Accounts and Notes Receivable from Related Parties

	December 31,
	2014		2013
Xiamen Joylon	$	4,916	$	4,076
Xiamen Automotive Parts		929		843
Shanghai Fenglong		332		298
Jingzhou Yude		1,953		2,008
Jingzhou Tongying		349		485
Beijing Henglong		14,252		9,426
Other Related Parties		29		58
Total	$	22,760	$	17,194

Other Receivables from Related Parties

	December 31,
	2014		2013
Wuhan Dida	$	48	$	62
Jiulong Machinery		667		621
Other Related Parties		10		46
Total		725		729
Less: provisions for bad debts		(649)		(621)
Balance at end of year	$	76	$	108

Other receivables from related parties are primarily unsecured demand loans, with no stated interest rate or due date.

Accounts payable to Related Parties

	December 31,
	2014		2013
Shanghai Tianxiang	$	176	$	341
Jiangling Tongchuang		584		891
Hubei Wiselink		1,815		755
Jingzhou Tongying		1,645		1,911
Wuhan Tongkai		576		620
Honghu Changrun		58		94
Other Related Parties		3		22
Total	$	4,857	$	4,634

Advanced equipment payments to Related Parties

	December 31,
	2014		2013
Hubei Wiselink	$	2,085	$	2,097

Other advance payments to Related Parties

	December 31,
	2014		2013
Jiangling Tongchuang	$	30	$	176
Changchun Hualong		82		86
Wuhan Tongkai		4		181
Honghu Changrun		511		423
Other Related Parties		114		-
Total	$	741	$	866

For the years ended December 31, 2014 and 2013, the loans to related parties were comprised of the following:

	For the Year Ended December 31,
	2014		2013
Henglong Real Estate ⁽¹⁾	$	-	$	18,309
Hubei Wiselink ⁽²⁾		-		3,253
Xiamen Joylon ⁽²⁾		-		943
Juilong Machine ⁽³⁾		-		399
Total	$	-	$	22,904

⁽¹⁾	Mr. Hanlin Chen, Chairman of the Company, Mr. Wu Qizhou, the CEO of the Company, and the spouse of Mr. Andy Tse, Senior Vice President of the Company, collectively own 59.2% of the equity interests of Henglong Real Estate.

⁽²⁾	Hubei Wiselink and Xiamen Joylon are directly and indirectly controlled by Mr. Hanlin Chen, Chairman of the Company.

⁽³⁾	Jiulong Machine was a non-controlling interest shareholder that owned 20% and 19% of the equity interests of Henglong and Jiulong, subsidiaries of the Company, respectively, until September 26, 2014.