Note 7 - Due from Related Parties, Net

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Due from Related Parties Disclosure [Text Block]

7. Due from related parties, net

	As of December 31,
	2022			2021
	US$(’000)			US$(’000)
Zhongwang Xiyue Technology (Beijing) Co., Ltd. (“Zhongwang Xiyue”)		-			62
Guangzhou Gong Xiang Technology Co., Ltd. (“Gong Xiang Technology”)		14			28
Due from related parties, total		14			90
Allowance for doubtful accounts		(14	)		-
Due from related parties, net		-			90

Related parties of the Company represented the Company’s direct or indirect unconsolidated investee entities, as well as entities that the Company’s officers or directors can exercise significant influence.

As of December 31, 2021, due from Zhongwang Xiyue represented the outstanding receivables for the advertising and marketing service that the Company provided to this related party in its normal course of business, which was on the same terms as those provided to its unrelated clients. Amount due from Zhongwang Xiyue had been fully collected by December 31, 2022.

As of December 31, 2022 and 2021, due from Gong Xiang Technology were the remaining outstanding balances of a short-term working capital loan with an original amount of US$0.04 million that the Company provided to this investee entity in March 2021. The Company had provided full allowance against the remaining outstanding balance as of December 31, 2022, as the business activities of Gong Xiang Technology had become dormant as of December 31, 2022 and the potential recovery of this outstanding amount was considered remote.