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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 income $ 42,921 $ 21,677 $ 19,458
Adjustments to reconcile net income from operations to net cash used in operating activities      
Depreciation and amortization 2,353 1,055 788
Loss on disposals of property, plant and equipment 0 25 294
Equity income in net income of affiliates (4,637) (655) (168)
Unrealized gain on trading securities (607) (12,574) 0
Deferred income taxes (1,840) (4,085) (3,719)
Stock-based compensation 5,117 5,628 3,572
Change in fair value of financial liability 0 11,964 0
Net changes in operating assets and liabilities:      
Accounts receivable (47,624) (22,085) (6,961)
Income tax recoverable (1,082) 0 0
Other receivables (8,420) (6,882) 891
Inventory (127,656) (40,768) (6,658)
Prepaid expenses (10,606) (3,518) (83)
Other long-term assets (4,521) (99) (151)
Accounts payable 65,211 21,275 (3,058)
Advances from customers 34,831 8,578 705
Income tax payable 226 (3,137) 1,952
FIN-48 payable 2,200 (83) 0
Other payables and accrued expenses 10,551 5,236 2,865
Deferred revenue 3,180 1,343 0
Other long-term liabilities 310 3,558 (324)
Net cash flow (used in) provided by operating activities (40,093) (13,547) 9,403
Cash flows from investing activities:      
Purchase of property and equipment (9,153) (5,211) (971)
Purchase of intangible assets (559) (324) (154)
Purchase of land-use-right 0 (9,744) 0
Purchase of trading securities 0 (15,020) 0
Prepayment for property 0 (40,206) 0
Investments in unconsolidated affiliates (1,568) 0 (4,406)
Dividends from unconsolidated affiliates 0 555 0
Net cash used in investing activities (11,280) (69,950) (5,531)
Cash flows from financing activities:      
Proceeds from short-term borrowings 22,884 32,573 18,423
Repayments of short-term borrowings (39,809) (20,234) (14,005)
Proceeds from long-term borrowings 7,056 19,699 0
Repayments of long-term borrowings (2,127) (129) 0
Repayments of notes payable 0 (1,820) 0
Proceeds from stock option exercise to common stock 3,430 2,745 317
Proceeds from issuance of Class A common stock in connection with public offering, net of direct issuance expenses of $2,287 0 0 26,434
Payment for repurchase of Class A common stock 0 0 (2,827)
Payment for cancellation of stock option 0 0 (576)
Proceeds from issuance of common stock to redeemable Non-controlling interest 0 0 59,679
Proceeds from a subsidiary equity issuance, net of issuance costs 545,512 0 0
Proceeds from warrant exercise to common stock 1,820 0 0
Net cash provided by financing activities 538,766 32,834 87,445
Effect of exchange rate changes on cash, cash equivalents and restricted cash 3,908 4,570 (582)
Net increase (decrease) in cash and cash equivalents 491,301 (46,093) 90,735
Cash, cash equivalents and restricted cash at beginning of period 71,766 117,859 27,124
Cash, cash equivalents and restricted cash at end of period 563,067 71,766 117,859
Supplemental disclosure of cash flow information:      
Interest paid, net of capitalized interest 765 982 745
Cash paid for income taxes 1,132 4,971 1,156
Reconciliation of cash, cash equivalents and restricted cash in condensed consolidated statements of cash flows:      
Cash and cash equivalents 563,067 71,766 58,261
Restricted cash 0 0 59,598
Non-cash financing activities:      
Warrant conversion to common stock 0 399 9
Share cancellation, (note 16) 0 9,715 0
Cashless exercise of stock options 137 0 0
Issuance of warrant for settlement of financial liability and cancellation of note receivable $ 0 $ 19,859 $ 0