Note 8 - Long-term Investments

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

8. Long-term investments

	Amount
	US$(’000)
Balance as of January 1, 2023		1,596
Exchange translation adjustment		3
Cash investment during the period		43
Disposed during the period		(433	)
Impairment losses provided during the period		(209	)
Balance as of June 30, 2023 (Unaudited)		1,000

As of June 30, 2023, except for long-term investments which were fully impaired, the Company beneficially owned a 15.38%, 9.9%, 9% and 9.9% equity interest in each New Business Holdings Limited (“New Business”), Guangdong Yong Fu Xiang Health Management Co., Ltd (“Yong Fu Xiang”); Guangzhou Yuan Qi Man Man Technology Co., Ltd. (“Yuan Qi Man Man") and Wuhan Ju Liang Media Co., Ltd. (“Wuhan Ju Liang”), respectively.

In June 2023, the Company obtained a 9.9% equity interest in Wuhan Ju Liang through subscription of a RMB0.99 million (approximately US$0.14 million) registered capital of the entity in cash, which amount was committed to be paid up before August 1, 2052. Wuhan Ju Liang is primarily engaged in providing livestream operation services.

In June 2023, the Company disposed its 10% equity interest in Guang Dong WeFriend Co., Ltd. (“Guangdong WeFriend”) to an unrelated party, and received RMB3.0 million (approximately US$0.43 million) proceeds from this transaction.

The Company measures each investment which does 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.

For the six and three months ended June 30, 2023, the Company provided approximately US$0.21 million full impairment loss against its long-term investments to Business Opportunity Chain (Guangzhou) Technology Co., Ltd. (“Business Opportunity Chain Guangzhou”).