Note 13 - Short-term Bank Loan

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Short-term Debt [Text Block]

13. Short-term bank loan

Short-term bank loan as of

June 30, 2018

and

December 31, 2017

represented short-term bank loans of

RMB5.0

million (approximately

US$0.8

million), in the aggregate, borrowed by

one

of the Company’s VIEs from a major financial institution in China to supplement its short-term working capital needs, of which

RMB3.0

million (approximately

US$0.5

million) was borrowed on

August 16, 2017

and will mature on

August 15, 2018,

the remaining

RMB2.0

million (approximately

US$0.3

million) was borrowed on

October 23, 2017

and will mature on

October 22, 2018.

On

July 13, 2018,

the Company repaid the

RMB3.0

million (approximately

US$0.5

million) short-term loan and re-borrowed it on the same date, which will mature on

January 12, 2019.

The interest rate of these short-term bank loans was

5.655%

per annum as of

June 30, 2018

and

December 31, 2017,

which is

30%

over the benchmark rate of the People’s Bank of China (the “PBOC”).