XML 13 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 59,238 $ 48,551
Restrict cash 17,716 2,204
Trading securities 825
Accounts receivable, net 45,766 78,053
Inventories 51,254 67,355
Advances on inventory purchases 5,726 9,681
Value added tax receivable 1,340 2,495
Other receivables and prepaid expenses 4,328 5,293
Amounts due from related parties 329 123
Total Current Assets 186,522 213,755
NONCURRENT ASSETS    
Intangible assets, net 4,499 4,729
Property and equipment, net 25,964 28,812
Operating lease right-of-use assets 34,496 53,379
Deferred tax assets 807 996
Total Non-Current Assets 65,766 87,916
TOTAL ASSETS 252,288 301,671
CURRENT LIABILITIES    
Bank loans 40,271 29,931
Accounts payable 51,169 72,418
Accounts payable and other payables - related parties 4,050 4,811
Other payables and accrued liabilities 10,118 19,137
Value added and other taxes payable 1,657
Income tax payable 222 1,142
Current operating lease liabilities 26,309 44,888
Total Current Liabilities 132,139 173,984
NONCURRENT LIABILITIES    
Non-current operating lease liabilities 8,256 8,537
TOTAL LIABILITIES 140,395 182,521
COMMITMENTS AND CONTINGENCIES (Note 8)
Stockholders’ equity:    
Preferred stock ($0.001 par value, authorized 5,000,000 shares, no shares issued and outstanding)
Common stock ($0.001 par value, authorized 50,000,000 shares, 14,804,832 and 14,801,770 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively) 15 15
Additional paid-in capital 3,645 3,640
Retained earnings 99,833 106,328
Statutory reserve 19,939 19,939
Accumulated other comprehensive (loss) (6,031) (4,330)
Amounts due from related party (3,996) (4,932)
Total equity attributable to stockholders of the Company 113,405 120,660
Noncontrolling interest (1,512) (1,510)
Total Equity 111,893 119,150
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 252,288 $ 301,671