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LONG-TERM BORROWINGS
 6 Months Ended
Jun. 30, 2023
Long-Term Debt, by Current and Noncurrent [Abstract]  
LONG-TERM BORROWINGS LONG-TERM BORROWINGS
At June 30, 2023 and December 31, 2022, long-term borrowings consisted of the following:
June 30,
2023		December 31,
2022
Loan from China Merchants Bank$13,914 $15,265 
Loans from Bank of China5,224 5,744 
Less: Current portion(3,239)(2,322)
$15,899 $18,687 
The loan from China Merchants Bank is for the purpose of purchasing housing property in Lingang, Shanghai. The loan is repayable in 120 total installments with the last installment due in November 2030, with an annual interest rate of 3.95%. The loan is pledged by the property of ACM Lingang and guaranteed by ACM Shanghai. The housing property was transferred to ACM Lingang in January 2022 (Note 6).
Scheduled principal payments for the outstanding long-term loan, including the current portion, as of June 30, 2023 are as follows:
Year ending December 31
2023$1,127 
20246,593 
20251,748 
20261,818 
20271,891 
Thereafter5,961 
$19,138 
For the three months ended June 30, 2023 and 2022, respectively, interest related to long-term borrowings of $181 and $244 was incurred.
For the six months ended June 30, 2023 and 2022, respectively, interest related to long-term borrowings of $370 and $502 was incurred, of which $370 and $442 was charged to interest expenses and $0 and $60 was capitalized as property plant and equipment and other long-term assets, respectively.