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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 480,931 $ 21,496
Restricted cash 55,178 19,700
Accounts receivable (net of allowance for doubtful accounts of $5,047 and $5,005 as of December 31, 2020 and 2021, respectively) 88,717 76,298
Notes receivable 11,144 20,839
Inventories, net 53,424 44,968
Prepaid expenses and other current assets 17,127 6,022
Amount due from related parties 85
Total Current Assets 706,606 189,323
Property, plant and equipment, net 253,057 198,017
Land use rights, net 14,008 14,001
Acquired intangible assets, net 1,882 2,279
Other non-current assets 19,738 890
Total Assets 995,291 404,510
Current liabilities:    
Accounts payable 40,408 42,007
Advance from customers 1,526 2,446
Accrued expenses and other current liabilities 58,740 60,628
Income tax payables 666 664
Short-term bank borrowings 13,301 12,184
Notes payable 60,953 35,782
Bonds payable 29,915
Total Current Liabilities 175,594 183,626
Deposit liability for series B2 convertible preferred shares (“Series B2 Preferred”) 21,792
Long-term bonds payable 73,147 73,147
Warrant liability 1,105
Share-based compensation liability 18,925
Other non-current liabilities 39,822 110,597
Total Liabilities 308,593 389,162
Mezzanine Equity (Note 18 and Note 20)    
Series C1 convertible redeemable preferred shares (“Series C1 Preferred”) (US$0.0001 par value; 26,757,258 authorized, issued and outstanding as of December 31, 2020 and nil authorized, issued and outstanding as of December 31, 2021) 80,581
Series C2 convertible redeemable preferred shares (“Series C2 Preferred”) (US$0.0001 par value; 20,249,450 authorized, issued and outstanding as of December 31, 2020 and nil authorized, issued and outstanding as of December 31, 2021) 81,966
Series D1 convertible redeemable preferred shares (“Series D1 Preferred”) (US$0.0001 par value; 22,311,516 authorized, issued and outstanding as of December 31, 2020 and nil authorized, issued and outstanding as of December 31, 2021) 146,583
Redeemable noncontrolling interests 90,820
Total Mezzanine Equity 399,950
Commitments and contingencies (Note 27)
Shareholders’ (Deficit)/Equity    
Common Stock (par value of US$0.0001 per share, 240,450,000 and 750,000,000 shares authorized as of December 31, 2020 and 2021; 99,028,297 and 300,530,516 shares issued, and 99,028,297 and 298,843,016 shares outstanding as of December 31, 2020 and 2021) 30 6
Additional paid-in capital 1,306,034
Statutory reserves 6,032 6,032
Accumulated deficit (632,099) (397,996)
Accumulated other comprehensive income 6,701 7,356
Total Shareholders’ (Deficit)/Equity 686,698 (384,602)
Total Liabilities, Mezzanine Equity and Shareholders’ (Deficit)/Equity $ 995,291 $ 404,510