Note 8 - Long-term Investments

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

8. Long-term investments

	Gong Xiang Technology		Xiao Peng Education		Business Opportunity Chain Guangzhou		Local Chain Xi’an			Total
	US$(’000)		US$(’000)		US$(’000)		US$(’000)			US$(’000)
Balance as of January 1, 2021		-		-		29		38			67
Cash investment during the year		232		79		110		-			421
Disposed during the year		-		-		-		(38	)		(38	)
Balance as of June 30, 2021 (Unaudited)		232		79		139		-			450

As of June 30, 2021, except for long-term investments which were fully impaired, the Company beneficially owned a 15%, 17% and 19% equity interest in Guangzhou Gong Xiang Technology Co., Ltd. (“Gong Xiang Technology”), Xiao Peng Education Technology (Hubei) Co., Ltd. (“Xiao Peng Education”) and Business Opportunity Chain (Guangzhou) Technology Co., Ltd. (“Business Opportunity Chain Guangzhou”), respectively.

The Company measures these investments which do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the Company.

In May 2021, the Company disposed the 4.9% equity interest it owned in Local Chain Xi’an Information Technology Co., Ltd. (“Local Chain Xi’an”) to an unrelated party and recorded an approximately US$0.04 million disposal loss for the six and three months ended June 30, 2021.