ATR periodically has loans outstanding with its minority shareholder. Interest on borrowings accrues at the three-to-five-year loan interest rate set by the People’s Bank of China, which approximated 4.35% for each of the three and six months ended June 30, 2024 and 2023, respectively. For the six months ended June 30, 2024, ATR paid $2 (RMB 17) of interest. For the six months ended June 30, 2023, ATR paid $4 (RMB 25) of interest. No interest was outstanding as of June 30, 2024 or December 31, 2023.

Loan activity for the six months ended June 30, 2024 and 2023 was as follows:


	Six Months Ended June 30,
	2024			2024			2023			2023
	USD			RMB			USD			RMB
Balance at beginning of the period	$	665			4,713		$	-			-
Borrowings		-			-			669			4,600
Repayments		(664	)		(4,713	)		(669	)		(4,600	)
Foreign exchange		(1	)		-			-			-
Balance at end of the period	$	-			-		$	-			-

ATR has sales to and purchases from ATR’s minority shareholder and its affiliates and sales to a shareholder of one of the Corporation's other joint ventures in China and its affiliates. These sales and purchases, which were in the ordinary course of business, for the three and six months ended June 30, 2024 and 2023 were as follows:


	Three Months Ended June 30,
	2024		2024		2023		2023
	USD		RMB		USD		RMB
Purchases from related parties	$	1,901		13,740	$	1,880		13,223
Sales to related parties	$	3,935		28,505	$	303		2,342


	Six Months Ended June 30,
	2024		2024		2023		2023
	USD		RMB		USD		RMB
Purchases from related parties	$	3,138		22,588	$	3,323		23,133
Sales to related parties	$	8,173		58,824	$	2,723		18,960

Balances outstanding with ATR’s minority shareholder including its affiliates and the other joint venture's shareholder and its affiliates as of June 30, 2024 and December 31, 2023 were as follows:


	June 30, 2024		June 30, 2024		December 31, 2023		December 31, 2023
	USD		RMB		USD		RMB
Accounts receivable from related parties	$	4,795		34,861	$	190		1,350
Accounts payable to related parties	$	1,200		8,724	$	401		2,841
Other current liabilities:
Customer deposits	$	94		682	$	149		1,056

The manufacturing facilities of ATR are located on land leased by ATR from the other partner. The land lease commenced in 2007, the date the joint venture was formed, and continues through 2054, the expected end date of the joint venture, and includes variable lease payment provisions based on the land standard price prevailing in Taiyuan, China, where the joint venture is located. Rent paid by ATR to the other partner approximated $30 (RMB 223) for each of the three months ended June 30, 2024 and 2023 and $61 (RMB 446) for each of the six months ended June 30, 2024 and 2023, which is included in purchases from related parties.

In addition, the Corporation had sales, in the ordinary course of business, to a wholly owned subsidiary of Crawford United Corporation which, along with other affiliated persons (collectively, the “Crawford Group”), was the beneficial owner of greater than 5% of the Corporation’s stock at December 31, 2023. Pursuant to Amendment No. 5 to Schedule 13D filed by the Crawford Group with the SEC on February 20, 2024, the Crawford Group ceased to beneficially own greater than 5% of the Corporation’s stock as of February 16, 2024. The trade receivable with the Crawford Group was $722 at December 31, 2023.