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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net loss $ (44,834) $ (6,265) $ (15,148)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 3,344 3,200 1,981
Amortization 3,931 369 278
Change in fair value of derivative liability (67) (496) (285)
Write-down for inventory 983 0 103
Provision for credit losses 2,735 1,094 4,115
Impairment charges on property and equipment 0 0 2,235
Impairment charges on project assets 0 0 2,455
Share-based compensation expense 5,789 315 821
Amortization of right-of-use assets 1,768 680 434
Reversal of tax penalty 0 0 (6,890)
Amortization of debt discount on convertible bonds 540 452 594
Change in deferred taxes (1,082) (188) (85)
Loss (gain) on disposal of property and equipment (57) 3 (45)
Loss on disposal of subsidiaries 0 32 385
Accrual (reversal) of warranty reserve 99 (1,538) 0
Gain on forgiveness of PPP loan (205) (551) 0
Gain on de-recognition of long-aged liabilities 0 (2,252) 0
Other non-cash expense 34 0 0
Changes in operating assets and liabilities      
Accounts receivable 1,185 963 3,087
Amount due from related parties (36) 338 538
Notes receivable 0 0 4,823
Project assets (6,008) 14,679 3,333
Inventories (7,065) (223) (1,958)
Prepaid expenses and other assets (4,565) (187) (497)
Accounts payable 8,547 (6,961) 7,805
Advances from customers 3,628 (17,628) (8,352)
Income taxes payable 1,653 (530) 268
Accrued liabilities and other liabilities 3,971 9,711 1,264
Lease liability (1,772) (667) (421)
Bitcoin mining, net of mining pool operating fees 0 0 (3,630)
Amount due to related parties 0 0 (79)
Net cash used in operating activities (27,484) (5,650) (2,871)
Cash flows from investing activities:      
Proceeds from disposal of subsidiaries 453 1,216 4,549
Proceeds from sale of bitcoins 0 0 3,630
PDI asset purchase (Note 5) (8,003) 0 0
Acquisitions of Solar PV systems 0 0 (8,345)
Acquisitions of property and equipment (1,316) (195) (4,762)
Proceeds from disposal of property and equipment 0 0 166
Prepayment of purchase of land 0 0 (3,132)
Acquisitions of subsidiaries, net of cash acquired 0 364 0
Net cash (used in) provided by investing activities (8,866) 1,385 (7,894)
Cash flows from financing activities:      
Proceeds from issuance of ordinary shares 13,591 46,810 7,656
Net payment for purchasing minority interests 0 0 (75)
Proceeds from issuance of convertible note 16,000 2,000 1,250
Repayment of convertible notes (13,935) (7,632) 0
Proceeds from exercise of employee stock options 91 397 0
Proceeds from exercise of options issued to Lighting Charm Limited during disposition of SPI China 1,091 0 0
Proceeds from capital injection by noncontrolling shareholders 0 249 0
Proceeds from line of credit and loans payable 175,101 122,284 84,308
Repayments of line of credit and loans payable (173,514) (123,314) (83,619)
Net cash generated from financing activities 18,425 40,794 9,520
Effect of exchange rate changes on cash (4,012) 250 (351)
(Decrease) increase in cash, cash equivalents and restricted cash (21,937) 36,779 (1,596)
Cash, cash equivalents and restricted cash at beginning of year 39,782 3,003 4,599
Cash, cash equivalents and restricted cash at end of year 17,845 39,782 3,003
Supplemental cash flow information:      
Interest paid 1,236 552 645
Income tax paid 58 1,372 0
Non-cash activities:      
Netting off balance due to/from third party 0 0 2,109
Right of use assets obtained in exchange for operating lease obligations 8,502 5,280 2,419
Forgiveness of loan by noncontrolling interest holders 0 0 1,140
Loss on forgiveness of debt due from SPI China (Note 4(1) and Note 25) 0 378 653
Reclassification from project asset to PPE 3,683 0 0
Redemption of convertible bond to ordinary shares $ 4,375 $ 443 $ 0