|
CONDENSED FINANCIAL INFORMATION OF THE COMPANY (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| CONDENSED FINANCIAL INFORMATION OF THE COMPANY |
|
| Schedule of condensed balance sheets |
|
|
|
December 31, |
|
|
|
|
2012 |
|
2013 |
|
|
|
|
US$ |
|
US$ |
|
|
ASSETS |
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
164 |
|
228 |
|
|
Amounts due from subsidiaries |
|
10,000 |
|
4,130 |
|
|
Prepayments and other current assets |
|
11,616 |
|
65 |
|
|
Total current assets |
|
21,780 |
|
4,423 |
|
|
Non-current assets: |
|
|
|
|
|
|
Property, plant and equipment, net |
|
5 |
|
1 |
|
|
Investment in subsidiaries |
|
399,364 |
|
427,679 |
|
|
Other non-current assets |
|
— |
|
19 |
|
|
Total non-current assets |
|
399,369 |
|
427,699 |
|
|
TOTAL ASSETS |
|
421,149 |
|
432,122 |
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Amounts due to subsidiaries |
|
16,464 |
|
19,374 |
|
|
Accrued expense and other current liabilities |
|
4,424 |
|
2,549 |
|
|
Amounts due to related parties |
|
2 |
|
1 |
|
|
Deferred tax liabilities |
|
— |
|
300 |
|
|
Warrant liabilities |
|
839 |
|
— |
|
|
Total current liabilities |
|
21,729 |
|
22,224 |
|
|
Total liabilities |
|
21,729 |
|
22,224 |
|
|
Shareholders’ equity: |
|
|
|
|
|
|
Ordinary shares (par value US$0.001 per share, 400,000,000 shares authorized as of December 31, 2012 and 2013; 161,989,097 and 162,099,665 shares issued and outstanding as of December 31, 2012 and 2013) |
|
162 |
|
162 |
|
|
Additional paid-in capital |
|
517,133 |
|
517,370 |
|
|
Accumulated other comprehensive income |
|
41,597 |
|
54,059 |
|
|
Accumulated deficit |
|
(159,472 |
) |
(161,693 |
) |
|
Total shareholders’ equity |
|
399,420 |
|
409,898 |
|
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
421,149 |
|
432,122 |
|
|
| Schedule of condensed statements of comprehensive income |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2011 |
|
2012 |
|
2013 |
|
|
|
|
US$ |
|
US$ |
|
US$ |
|
|
Revenues |
|
— |
|
— |
|
— |
|
|
Cost of revenues |
|
— |
|
— |
|
(7 |
) |
|
Gross profit |
|
— |
|
— |
|
(7 |
) |
|
Operating expenses: |
|
|
|
|
|
|
|
|
General and administrative expenses |
|
(18,247 |
) |
(7,324 |
) |
(3,929 |
) |
|
Total operating expenses |
|
(18,247 |
) |
(7,324 |
) |
(3,936 |
) |
|
Operating loss |
|
(18,247 |
) |
(7,324 |
) |
(3,936 |
) |
|
Equity in (losses) profits of subsidiaries |
|
(27,395 |
) |
3,662 |
|
1,022 |
|
|
Interest income |
|
66 |
|
3 |
|
— |
|
|
Interest expense |
|
(23 |
) |
(142 |
) |
(4 |
) |
|
Changes in fair value of warrant liabilities |
|
951 |
|
(399 |
) |
839 |
|
|
Exchange (loss) gain |
|
(580 |
) |
30 |
|
6 |
|
|
Gain from disposal of subsidiaries |
|
— |
|
3,726 |
|
— |
|
|
Other income, net |
|
375 |
|
293 |
|
152 |
|
|
Loss before income tax expense |
|
(44,853 |
) |
(151 |
) |
(1,921 |
) |
|
Income tax expense |
|
(536 |
) |
(1,092 |
) |
(300 |
) |
|
Net loss |
|
(45,389 |
) |
(1,243 |
) |
(2,221 |
) |
|
|
|
|
|
|
|
|
|
|
Other comprehensive income (loss), net of income tax expense |
|
|
|
|
|
|
|
|
Foreign currency translation adjustments |
|
20,079 |
|
(1,404 |
) |
12,462 |
|
|
Defined benefit pension plans |
|
(33 |
) |
33 |
|
— |
|
|
Other comprehensive income (loss) |
|
20,046 |
|
(1,371 |
) |
12,462 |
|
|
Comprehensive (loss) income |
|
(25,343 |
) |
(2,614 |
) |
10,241 |
|
|
| Schedule of condensed statements of cash flows |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2011 |
|
2012 |
|
2013 |
|
|
|
|
US$ |
|
US$ |
|
US$ |
|
|
Cash flows used in operating activities |
|
(8,740 |
) |
(3,651 |
) |
(2,433 |
) |
|
Cash flows (used in) provided by investing activities |
|
(6,500 |
) |
931 |
|
2,471 |
|
|
Cash flows provided by financing activities |
|
10,036 |
|
— |
|
26 |
|
|
Net (decrease) increasein cash and cash equivalents |
|
(5,204 |
) |
(2,720 |
) |
64 |
|
|
Cash and cash equivalents at the beginning oftheyear |
|
8,088 |
|
2,884 |
|
164 |
|
|
Cash and cash equivalents at the end oftheyear |
|
2,884 |
|
164 |
|
228 |
|
|