|
INCOME TAX EXPENSE (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| INCOME TAX EXPENSE |
|
| Schedule of (loss) income before income taxes |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2011 |
|
2012 |
|
2013 |
|
|
|
|
US$ |
|
US$ |
|
US$ |
|
|
Cayman Islands |
|
(17,593 |
) |
(7,962 |
) |
(2,943 |
) |
|
Hong Kong |
|
(659 |
) |
(680 |
) |
(480 |
) |
|
PRC |
|
(35,229 |
) |
10,037 |
|
4,379 |
|
|
|
|
(53,481 |
) |
1,395 |
|
956 |
|
|
| Schedule of income tax expenses |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2011 |
|
2012 |
|
2013 |
|
|
|
|
US$ |
|
US$ |
|
US$ |
|
|
Current income tax expense |
|
2,113 |
|
7,013 |
|
3,956 |
|
|
Deferred income tax benefit |
|
(586 |
) |
(562 |
) |
(482 |
) |
|
Income tax expense |
|
1,527 |
|
6,451 |
|
3,474 |
|
|
| Schedule of reconciliation of the effective income tax provisions |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2011 |
|
2012 |
|
2013 |
|
|
|
|
US$ |
|
US$ |
|
US$ |
|
|
Taxation at PRC statutory tax rate of 25% |
|
(13,370 |
) |
349 |
|
239 |
|
|
Effect of non-PRC entities not subject to income tax |
|
4,564 |
|
2,161 |
|
856 |
|
|
Effect of tax holiday |
|
— |
|
(466 |
) |
(8 |
) |
|
Effect of preferential tax rate |
|
(248 |
) |
(14 |
) |
(119 |
) |
|
Current and deferred tax rate differential |
|
1,015 |
|
1,167 |
|
762 |
|
|
Deemed interest income |
|
1,010 |
|
276 |
|
46 |
|
|
Non-deductible expenses |
|
4,337 |
|
3,041 |
|
1,447 |
|
|
Change in valuation allowance |
|
3,818 |
|
575 |
|
1,041 |
|
|
Impact of changes in enacted tax rates |
|
(325 |
) |
— |
|
— |
|
|
Prior year tax audit adjustment |
|
190 |
|
— |
|
— |
|
|
PRC withholding tax on the outside basis difference of the discontinued operations |
|
136 |
|
— |
|
— |
|
|
Provision for (reversal of) PRC dividend withholding tax |
|
400 |
|
(296 |
) |
300 |
|
|
Effect of changes in the tax basis of property, plant and equipment |
|
— |
|
(225 |
) |
(391 |
) |
|
Reduction to unrecognized tax benefits due to lapse of statute of limitations |
|
— |
|
(117 |
) |
(699 |
) |
|
Income tax expense |
|
1,527 |
|
6,451 |
|
3,474 |
|
|
Effective tax rate (%) |
|
(2.86 |
)% |
462.44 |
% |
363.39 |
% |
|
| Schedule of aggregate amount and effects of tax holidays on basic and diluted loss per share |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2011 |
|
2012 |
|
2013 |
|
|
|
|
US$ |
|
US$ |
|
US$ |
|
|
Aggregate amount |
|
— |
|
466 |
|
8 |
|
|
Basic and diluted |
|
— |
|
0.003 |
|
— |
|
|
| Schedule of reconciliation of accrued unrecognized tax benefits |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2011 |
|
2012 |
|
2013 |
|
|
|
|
US$ |
|
US$ |
|
US$ |
|
|
Balance as of January 1 |
|
3,743 |
|
6,093 |
|
6,077 |
|
|
Addition for tax positions taken in the current year |
|
459 |
|
396 |
|
464 |
|
|
Reclassified from income tax payable for tax positions of prior years |
|
2,336 |
|
1,138 |
|
1729 |
|
|
Reduction for tax positions of prior years |
|
(87 |
) |
(171 |
) |
(27 |
) |
|
Lapse of statute of limitations |
|
— |
|
(117 |
) |
(669 |
) |
|
Reclassified to liabilities directly associated with the assets classified as held-for-sale or disposal of discontinued operations |
|
(618 |
) |
(1,276 |
) |
— |
|
|
Foreign currency translation |
|
260 |
|
14 |
|
211 |
|
|
Balance as of December 31 |
|
6,093 |
|
6,077 |
|
7,785 |
| |