v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net (loss) / income $ 8,279 $ (2,489) $ (9,590)
Adjustments to reconcile net (loss) / income to net cash (used in) / provided by operating activities:      
Depreciation and amortization 1,601 2,198 3,177
Gain on disposal of property and equipment (20) (87) (1)
Share-based compensation 92 345 415
Unrealized foreign exchange gain / loss (422) 313 (1,114)
Allowance for credit losses 69 24  
Interest income     (71)
Reversal of unrecognized tax benefits (107)    
Deferred income tax   (48) 40
Changes in operating assets and liabilities:      
Accounts receivable (379) (361) 61
Inventories (1,302) 2,126 8,493
Prepayments and other current assets 657 4,260 (423)
Long-term rental deposits 372 (414) 819
Other non-current assets   592 (592)
Accounts payable 1,931 (5,468) (10,672)
Advance from customers 837 (8,644) (15,240)
Accrued expenses and other current liabilities (5,135) (40,497) 4,276
Operating lease right-of-use assets 4,011 5,139 5,414
Operating lease liabilities (4,272) (5,152) (5,707)
Net cash (used in) / provided by operating activities 6,212 (48,163) (20,715)
Cash flows from investing activities      
Purchase of property and equipment (42) (782) (1,149)
Purchase of land use right   (1,493)  
Interest received     71
Loans to a third party     (2,824)
Repayment of loans by a third party     2,824
Proceeds from disposal of property and equipment 54 92  
Payment for long-term investment   (73)  
Net cash (used in) / provided by investing activities 12 (2,256) (1,078)
Cash flows from financing activities      
Proceeds from short-term borrowings 1,391 685  
Repayment of short-term borrowings (1,391)    
Principal repayment of finance leases   (34) (44)
Issuance of ordinary shares from treasury shares     45
Repurchase of ordinary shares (724) (1,237) (2,296)
Net cash used in financing activities (724) (586) (2,295)
Net (decrease) / increase in cash, cash equivalents and restricted cash 5,500 (51,005) (24,088)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 703 (954) 1,224
Cash, cash equivalents and restricted cash at beginning of year 19,745 71,704 94,568
Cash, cash equivalents and restricted cash at end of year 25,948 19,745 71,704
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:      
Cash and cash equivalents 23,629 17,945 66,425
Restricted cash 2,319 1,800 5,279
Total cash, cash equivalents and restricted cash 25,948 19,745 71,704
Supplemental cash flow information:      
Income tax refunded / (paid) (28) 9  
Interest expense paid $ (17)   (4)
Noncash investing activities:      
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities   8,860 $ 862
Operating lease right-of-use assets derecognized upon lease cancellation   $ 1,651