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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 68,183 $ 44,541
Restricted cash, current 34,737 37,477
Short-term investments 0 5,634
Accounts receivable (net of allowance for credit losses of $4,571 and $4,679 as of December 31, 2023 and June 30, 2024, respectively) 104,976 138,717
Notes receivable 10,872 23,736
Inventories, net 152,509 149,749
Prepaid expenses and other current assets 16,675 25,752
Held-for-sale assets 30,097 0
Total Current Assets 418,049 425,606
Restricted cash, non-current 1,564 6,171
Property, plant and equipment, net 519,432 620,667
Land use rights, net 11,565 11,984
Acquired intangible assets, net 2,854 3,136
Operating lease right-of-use assets 19,601 19,507
Other non-current assets 11,494 9,661
Total Assets 984,559 1,096,732
Current liabilities:    
Accounts payable 79,891 112,618
Notes payable 48,388 63,374
Accrued expenses and other current liabilities 142,773 148,284
Advance from customers 40,810 43,087
Short-term bank borrowings 60,034 35,392
Income tax payables 653 655
Total Current Liabilities 372,549 403,410
Long-term bonds payable 43,157 43,157
Long-term bank borrowings 34,203 43,761
Warrant liability 3 67
Share-based compensation liability 190 199
Operating lease liabilities 16,363 17,087
Convertible loan with shareholder 13,313 0
Other non-current liabilities 26,678 24,861
Total Liabilities 506,456 532,542
Commitments and contingencies (Note 16)
Shareholders’ Equity    
Common Stock (par value of US$0.0001 per share, 750,000,000 and 750,000,000 shares authorized as of December 31, 2023 and June 30, 2024; 316,694,442 and 317,197,947 shares issued, and 315,006,942 and 315,510,447 shares outstanding as of December 31, 2023 and June 30, 2024) 32 32
Additional paid-in capital 1,506,031 1,481,241
Statutory reserves 6,032 6,032
Accumulated deficit (1,000,767) (897,501)
Accumulated other comprehensive loss (33,225) (25,614)
Total Equity 478,103 564,190
Total Liabilities and Equity $ 984,559 $ 1,096,732