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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 73,554 $ 36,381
Adjustments to reconcile net income from operations to net cash used in operating activities    
Non-cash operating lease cost 2,639 2,133
Depreciation and amortization 6,021 4,104
Gain on disposals of property, plant and equipment (2) 0
Realized gain on short-term investments (8,569) (1,136)
Income from equity method investments (3,728) (1,652)
Unrealized loss on short-term investments 4,428 9,562
Inventory provision 5,031 1,739
Provision for credit losses 1,642 0
Deferred income taxes (9,936) 5,036
Stock-based compensation 14,666 5,236
Net changes in operating assets and liabilities:    
Accounts receivable (76,243) (96,840)
Other receivables (1,563) (1,309)
Inventories (135,888) (133,776)
Advances to related party (note 16) 2,158 (2,775)
Prepaid expenses (3,188) (6,387)
Other long-term assets 0 851
Related party accounts payable (note 16) (6,784) (1,310)
Accounts payable 39,081 10,155
Advances from customers 42,340 88,888
Deferred revenue 3,753 1,731
Income taxes payable 7,739 8,337
FIN-48 payable (199) (228)
Other payables and accrued expenses 6,928 13,755
Other long-term liabilities (5,997) (3,892)
Net cash flow used in operating activities (42,117) (61,397)
Cash flows from investing activities:    
Purchase of property and equipment (49,535) (20,550)
Purchase of intangible assets (1,611) (1,079)
Purchase of long-term investments (note 14) 6,488 5,196
Purchase of equity investments (18,109) 0
Purchase of time deposits (22,930) (136,576)
Proceeds from maturity of time deposits 71,471 0
Proceeds from selling short-term investments 19,914 4,488
Dividend from long-term investments (note 14) 5,147 0
Net cash used in investing activities (2,141) (158,913)
Cash flows from financing activities:    
Proceeds from short-term borrowings 29,314 50,688
Repayments of short-term borrowings (49,730) (13,694)
Proceeds from long-term borrowings 27,860 0
Repayments of long-term borrowings (1,770) (1,708)
ACM Shanghai dividends (3,951) 0
Proceeds from exercise of stock options 5,290 1,150
Net cash provided by financing activities 7,013 36,436
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3,545) (42,551)
Net decrease in cash, cash equivalents and restricted cash (40,790) (226,425)
Cash, cash equivalents and restricted cash at beginning of period 248,451 563,067
Cash, cash equivalents and restricted cash at end of period 207,661 336,642
Supplemental disclosure of cash flow information:    
Interest paid, net of capitalized interest 1,984 986
Cash paid for income taxes 16,474 182
Reconciliation of cash, cash equivalents and restricted cash in condensed consolidated statements of cash flows:    
Cash and cash equivalents (note 2) 207,101 336,275
Restricted cash 560 367
Cash, cash equivalents and restricted cash 207,661 336,642
Non-cash financing and investing activities:    
Conversion of Class B common stock to Class A common stock 0 1,002
Cashless exercise of stock options 211 125
Transfer from inventory to property, plant and equipment 4,379 0
Purchase property, plant and equipment through accounts payable and other payable 27,388 1,415
Transfer of prepayment for property to property, plant and equipment $ 0 $ 41,497