BANK BORROWINGS

6 Months Ended

Jun. 30, 2022

Bank Borrowings [Abstract]

BANK BORROWINGS

BANK BORROWINGS

The Group entered into loan agreements and bank facilities with Chinese banks.

The original terms of the loans from Chinese banks range from 6 months to 12 months and the interest rates range from 4.50% to 5.25% per annum.

Changes in bank borrowings are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2022		2021		2022
Beginning balance	$	13,156	$	13,335	$	12,184	$	13,301
Proceeds from bank borrowings	13,158		13,466		26,603		13,466
Repayments of principal	—		(17,332)		(12,265)		(17,332)
Exchange difference	144		(662)		(64)		(628)
Ending balance	$	26,458	$	8,807	$	26,458	$	8,807

All balance of bank borrowings as of December 31, 2021 and June 30, 2022 are current borrowings.

NOTE 7. BANK BORROWINGS-continued

Certain assets of the Group have been pledged to secure the above banking facilities granted to the Group. The aggregate carrying amount of the assets pledged by the Group as of December 31, 2021 and June 30, 2022 are as follows:

	December 31, 2021		June 30, 2022
Buildings	$	31,361	$	7,755
Machinery and equipment	7,376		—
Land use rights	4,470		1,576
Total	$	43,207	$	9,331