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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 1,070 $ 10,731
Restricted cash 387 1,378
Inventory, net 16,719 14,785
Total current assets 77,725 90,828
Property, plant and equipment, net [1] 166,413 181,377
Intangible assets, net 124,464 127,411
Land use rights, net 121,696 126,149
Long-term investments 3,582 3,699
Goodwill 2,633 2,695
Other assets 3,800 4,292
Total assets 500,313 536,451
Current liabilities    
Loans attributable to related parties 227,644 232,867
Long-term payables, current 95,580 97,832
Promissory note payable 1,408
Total current liabilities 523,606 525,054
Accrued post-employment and termination benefits 39,611 43,541
Other liabilities 5,891 6,185
Total liabilities 608,720 615,325
Commitments and contingencies
Shareholders’ Deficit    
Ordinary shares (US$0.003 par value; 10,000,000,000 shares authorized, both 5,471,661 shares issued, both 5,470,076 shares outstanding as of June 30, 2024 and December 31, 2023) [2] 16 16
Treasury Stock (Both 1,585 ordinary shares as of June 30, 2024 and December 31, 2023) [2] (500) (500)
Additional paid-in capital 169,129 169,129
Statutory reserve 6,656 6,656
Accumulated deficit (335,857) (314,235)
Accumulated other comprehensive loss 6,570 6,100
Chijet Motor Company, Inc. shareholders’ deficit (153,986) (132,834)
Non-controlling interest 45,579 53,960
Total shareholders’ deficit (108,407) (78,874)
Total liabilities and shareholders’ deficit 500,313 536,451
Nonrelated Party [Member]    
Current assets    
Accounts and notes receivable, net 1,241 2,241
Other current assets 13,028 9,951
Current liabilities    
Accounts and notes payable 20,001 14,824
Contract liabilities 2,639 2,525
Accruals and other current liabilities 45,737 47,428
Related Party [Member]    
Current assets    
Accounts and notes receivable, net 183 208
Amounts due from related parties 43,435 48,748
Other current assets 1,662 2,786
Current liabilities    
Accounts and notes payable 45,854 47,192
Contract liabilities 1,360 2,483
Accruals and other current liabilities 84,791 78,495
Loans attributable to related parties, non-current $ 39,612 $ 40,545
[1] The carrying amounts of buildings, molds and tooling, machines and equipment and other logistic equipment pledged by FAW Jilin to secure the borrowings were US$52,271 thousand and US$58,584 thousand as of June 30, 2024 and December 31, 2023, respectively.
[2] Par value of ordinary shares, treasury stock and share data have been retrospectively restated to give effect to 1-for-30 reverse stock split that is discussed in Note 1(b).