v3.25.2
Condensed Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 18,827 $ 18,019
Adjustments to reconcile net income from operations to net cash provided by operating activities:    
Depreciation and amortization 8,267 9,868
(Reversal)/addition of credit losses (159) 9
Equity in losses of affiliated companies 1,342 1,582
Impairment loss on property, plant and equipment 657  
Loss on disposal of property, plant and equipment 580 773
(Increase)/decrease in:    
Accounts and notes receivable 50,982 (20,451)
Inventories (3,491) 4,271
Other current assets (1,077) 3,654
Increase/(decrease) in:    
Accounts and notes payable (24,349) 1,994
Accrued expenses and other payables 2,238 1,134
Long-term taxes payable   (7,025)
Other current liabilities (4,735) (4,697)
Net cash provided by operating activities 49,082 9,131
Cash flows from investing activities:    
Cash received from disposal of property, plant and equipment sales 522 607
Payments to acquire property, plant and equipment (including $2,193 and $2,839 paid to related parties for the six months ended June 30, 2025 and 2024, respectively) (18,484) (10,016)
Payments to acquire intangible assets (67) (332)
Investment under the equity method (1,112)  
Purchase of short-term investments (23,096) (40,054)
Proceeds from maturities of short-term investments 29,570 20,626
Cash received from long-term investments 2,368 937
Net cash used in investing activities (10,299) (28,232)
Cash flows from financing activities:    
Proceeds from bank loans 52,829 47,054
Repayments of bank loans (53,890) (48,384)
Dividends paid to the common shareholders (1,773)  
Cash received from capital contributions of a non-controlling interest   15,504
Net cash (used in)/provided by financing activities (2,834) 14,174
Effects of exchange rate on cash, cash equivalents and pledged cash 1,195 (1,882)
Net increase/(decrease) in cash, cash equivalents and pledged cash 37,144 (6,809)
Cash, cash equivalents and pledged cash at beginning of the period 101,824 155,194
Cash, cash equivalents and pledged cash at end of the period $ 138,968 $ 148,385