SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
______________________
Report of Foreign Private Issuer
______________________
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of February 2015
Commission File No. 000-51604
______________________
ACTIONS SEMICONDUCTOR CO., LTD.
______________________
No. 1, Ke Ji Si Road
Technology Innovation Coast of Hi-Tech Zone, Zhuhai
Guangdong, 519085
The People’s Republic of China
(86-756) 339-2353
______________________
Indicate by check mark whether the registrant files or will
file annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F ___
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Indicate by check mark whether the registrant by furnishing
the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
Yes ___ No X
If “Yes” is marked, indicate below
the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-______________________.
Actions Semiconductor Co., Ltd. (the “Registrant”) is furnishing under cover of Form 6-K:
Press announcement dated
February 3, 2015 relating to the Registrant’s financial results for the three months ended December 31, 2014
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
|
ACTIONS SEMICONDUCTOR
CO., LTD.
|
|
By: /S/ Nigel Liu
Name: Nigel Liu
Title: Chief Financial Officer |
Dated: February 4, 2015
EXHIBIT INDEX
Exhibit |
Description |
Exhibit 99.1 |
Press announcement dated February 3, 2015 relating to the Registrant’s financial results for the three months ended December 31, 2014. |
Exhibit 99.1
Actions Semiconductor Reports Fourth
Quarter and Full Year 2014 Results
ZHUHAI, China, February 3, 2015 -- Actions Semiconductor Co.,
Ltd. (Nasdaq: ACTS) (“Actions Semiconductor” or “the Company”), one
of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip
(SoC) solutions for portable consumer electronics, today reported its financial results for the fourth quarter and year ended December
31, 2014.
All financial results are reported on a U.S. GAAP basis.
Revenue for the fourth quarter of 2014 was $13.9 million, as
compared to revenue of $13.1 million for the third quarter of 2014, and $17.6 million for the fourth quarter of 2013.
Revenue for the year ended December 31, 2014 was $50.3
million, compared to $69.4 million for the year ended December 31, 2013.
Net loss attributable to Actions Semiconductor's shareholders
for the fourth quarter of 2014 was $12.2 million or $0.206 per basic and diluted American Depositary Share ("ADS"). This
compares to net loss attributable to Actions Semiconductor's shareholders of $9.2 million or $0.137 per basic and diluted
ADS, for the third quarter of 2014, and net loss attributable to Actions Semiconductor’s shareholders of $0.8 million or
$0.012 per basic and diluted ADS, for the fourth quarter of 2013.
Net loss attributable to Actions Semiconductor's shareholders
for the year ended December 31, 2014 was $30.4 million or $0.461 per basic and diluted ADS. This
compares to a net income attributable to Actions Semiconductor's shareholders of $0.1 million or $0.002 per basic
and diluted ADS, for the year ended December 31, 2013.
Actions Semiconductor reported gross margin of negative 19.2%
for the fourth quarter of 2014, compared to gross margin of 14.6% for the third quarter of 2014, and 22.2% for the fourth quarter
of 2013. Gross margin was impacted by fierce competition in the tablet market and a significant inventory write-down that reduced
margin by nearly 30%. The Company ended the fourth quarter with $168.2 million in cash and cash equivalents, together with time
deposits, trading securities and marketable securities.
Since the share repurchase program commenced in 2007, the Company
has invested approximately $79.4 million in repurchasing its ADSs and ordinary shares, including $25.0 million representing the
equivalent of 10.0 million ADSs repurchased through a Dutch auction tender offer in September 2014. As of December 31, 2014, the
equivalent of approximately 33.9 million ADSs were repurchased.
“In the fourth quarter of 2014, revenue came in toward
the low end of our expectations, primarily due to the lingering effects of a supply shortage of wafers for multimedia products
from our foundry, along with relatively flat demand and persistent, intense competition in the worldwide tablet market. Negative
gross margin, along with a non-cash impairment charge of intangibles related to the reorganization of our corporate structure contributed
to the loss for the quarter,” stated Dr. Zhenyu Zhou, CEO of Actions Semiconductor.
“As our financial performance demonstrates, 2014 was a
challenging year for Actions. Despite these challenges, we were steadfast in our commitment to invest in our future and expect
to generate strong results in the year ahead. We are optimistic the recent launches of two new chipsets based on 28 nm process
technology, including our ultra-high performance 64-bit, quad-core solution, the ATM9009, will allow us to compete more effectively
in the application processor market including the tablet market, the OTT set-top box market and other cloud connected device market.
These value-added application processor markets will move Actions beyond tablets into new and profitable growth markets. In our
multimedia business, Bluetooth will be the driving force in 2015 and beyond. We expect our newly launched single-chip Bluetooth
4.0 solution for boomboxes, speakers, headphones and related products will establish Actions as a significant player in the rapidly
growing Bluetooth voice and music market.”
“Supported by these recent product launches, we are targeting
revenue growth of 20% to 25% and a good margin improvement in 2015. We will also focus on cost control, with the goal of reducing
operating expenses from 2014 levels,” Dr. Zhou concluded.
Business Outlook
The following statements are based upon management's current
expectations. These statements are forward-looking, and actual results may differ materially. The Company undertakes no obligation
to update these statements.
Based on current market trends, the Company expects revenue
in the first quarter of 2015 to be in the range of $9.5 to $11.5 million. The Company’s newly launched products are not expected
to contribute to first quarter results, as sales volumes will begin to ramp in the second quarter of 2015. In addition, the first
quarter of the year is traditionally the seasonally slowest quarter due to the Chinese New Year holiday, which causes a slowdown
in production by consumer electronics manufacturers in China for approximately three to four weeks.
Conference Call Details
Actions Semiconductor's fourth quarter of fiscal year 2014
teleconference and webcast is scheduled to begin at 8:00 a.m. Eastern Time, on Tuesday, February 3, 2015. To participate in the
live call, analysts and investors should dial 1-888-299-7209 (within U.S.) or 1-719-325-2464 (outside U.S.) at least ten minutes
prior to the call. The conference ID number is 9195995. Actions Semiconductor will also offer a live and archived webcast of the
conference call, accessible from the "Investor Relations" section of the Company's website at www.actions-semi.com.
An audio replay of the call will be available to investors through February 13, 2015 by dialing 1-888-203-1112 (within U.S.) or
1-719-457-0820 (outside U.S.) and entering access code 9195995.
About Actions Semiconductor
Actions Semiconductor is one of China's leading fabless semiconductor
companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer
electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications
of other required components. Actions Semiconductor also provides total product and technology solutions that allow customers
to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The Company is headquartered
in Zhuhai, China, with offices in Shanghai, Shenzhen, Hong Kong and Taipei. For more information, please visit the Actions Semiconductor
website at http://www.actions-semi.com.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995
Statements contained in this release that are not historical
facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements include statements concerning the outlook for its new products enabled by 28nm process technology and 64-bit CPU for
tablets and high-end OTT set-top boxes and new single chip SoC for Bluetooth boomboxes, customer acceptance of the Actions Semiconductor’s
new products and corresponding increases in market share, Actions Semiconductor's belief that it is positioned to capture some
upside from its new products and Actions Semiconductor's future expectations with respect to revenue. Actions Semiconductor uses
words like "believe," "anticipate," "intend," "estimate," "expect," "project"
and similar expressions to identify forward-looking statements, although not all forward-looking statements contain these words.
These forward-looking statements are estimates reflecting current assumptions, expectations and projections about future events
and involve significant risks, both known and unknown, uncertainties and other factors that may cause Actions Semiconductor's actual
performance, financial condition or results of operations to be materially different from those suggested by the forward-looking
statements including, among others, customers' cancellation or modification of their orders; our failure to accurately forecast
demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; fluctuations
in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and
uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; consumer
demand; worldwide economic and political conditions; fluctuations in our costs to manufacture our products; our reliance on third
parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete
with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights
of others. Other factors that may cause our actual results to differ from those set forth in the forward-looking statements contained
in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange
Commission, including our most recently filed Forms F-1, 20-F and 6-Ks. Other unknown or unpredictable factors also could have
material adverse effects on Actions Semiconductor's future results, performance or achievements. In light of these risks, uncertainties,
assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the
date of this press release. Except as required by law, Actions Semiconductor undertakes no obligation and does not intend to update
or revise any forward-looking statement to reflect subsequent events or changed assumptions or circumstances.
Investor Contacts: |
|
Elaine Ketchmere, CFA |
Ally Xie, CA, CPA |
Compass Investor Relations |
Actions Semiconductor |
eketchmere@compass-ir.com |
investor.relations@actions-semi.com |
+1-310-528-3031 |
+86-756-3392353*1018 |
ACTIONS SEMICONDUCTOR CO., LTD.
CONSOLIDATED CONDENSED BALANCE SHEETS
(in thousands of U.S. dollars)
| |
At December 31, | | |
At September 30, | | |
At December 31, | |
| |
2014 | | |
2014 | | |
2013 | |
| |
(unaudited) | | |
(unaudited) | | |
(audited) | |
ASSETS | |
| | | |
| | | |
| | |
Current assets: | |
| | | |
| | | |
| | |
Cash and cash equivalents | |
| 78,177 | | |
| 78,520 | | |
| 53,263 | |
Time deposit | |
| 5 | | |
| 161 | | |
| 347 | |
Restricted deposits | |
| 51,590 | | |
| 38,985 | | |
| 27,161 | |
Marketable securities | |
| 38,384 | | |
| 43,520 | | |
| 126,607 | |
Trading securities | |
| 70 | | |
| 74 | | |
| 74 | |
Accounts receivable, net of allowance for doubtful accounts of
$558, $379 and $nil as of December 31, 2014, September 30, 2014 and December 31,
2013, respectively | |
| 2,832 | | |
| 4,520 | | |
| 5,782 | |
Amount due from a related party | |
| 1,650 | | |
| 1,032 | | |
| 1,301 | |
Notes receivable | |
| 161 | | |
| - | | |
| - | |
Amount due from an equity method investee | |
| 41 | | |
| 46 | | |
| 38 | |
Inventories, net of inventory written-down of $7,718, $3,747 and $1,558 as of December 31, 2014, September 30, 2014 and December 31, 2013, respectively | |
| 13,970 | | |
| 22,806 | | |
| 20,278 | |
Prepaid expenses and other current assets | |
| 4,511 | | |
| 3,563 | | |
| 3,972 | |
Income tax recoverable | |
| 186 | | |
| 154 | | |
| 67 | |
Deferred tax assets | |
| 1,179 | | |
| 848 | | |
| 416 | |
Total current assets | |
| 192,756 | | |
| 194,229 | | |
| 239,306 | |
| |
| | | |
| | | |
| | |
Investments in equity method investees | |
| 27,352 | | |
| 27,061 | | |
| 17,843 | |
Other investments | |
| 15,627 | | |
| 15,639 | | |
| 15,648 | |
Marketable securities | |
| - | | |
| - | | |
| 17,139 | |
Rental deposits | |
| 54 | | |
| 55 | | |
| 61 | |
Property, plant and equipment, net | |
| 30,327 | | |
| 31,183 | | |
| 31,896 | |
Land use right | |
| 1,514 | | |
| 1,545 | | |
| 1,588 | |
Acquired intangible assets, net | |
| 16,459 | | |
| 17,684 | | |
| 12,218 | |
Deposit paid for acquisition of intangible assets | |
| 538 | | |
| 430 | | |
| 145 | |
Deferred tax assets | |
| 53 | | |
| 85 | | |
| 99 | |
TOTAL ASSETS | |
| 284,680 | | |
| 287,911 | | |
| 335,943 | |
| |
| | | |
| | | |
| | |
LIABILITIES AND EQUITY | |
| | | |
| | | |
| | |
Current liabilities: | |
| | | |
| | | |
| | |
Accounts payable | |
| 6,049 | | |
| 5,170 | | |
| 6,016 | |
Accrued expenses and other current liabilities | |
| 8,349 | | |
| 9,680 | | |
| 6,127 | |
Short-term bank loans | |
| 45,000 | | |
| 33,500 | | |
| 35,500 | |
Other liabilities | |
| 1,929 | | |
| 1,728 | | |
| 1,362 | |
Income tax payable | |
| 49 | | |
| 49 | | |
| 49 | |
Deferred tax liabilities | |
| 160 | | |
| 108 | | |
| 343 | |
Total current liabilities | |
| 61,536 | | |
| 50,235 | | |
| 49,397 | |
| |
| | | |
| | | |
| | |
Other liabilities | |
| - | | |
| 229 | | |
| 412 | |
Payable for acquisition of intangible assets | |
| 155 | | |
| - | | |
| - | |
Deferred tax liabilities | |
| 919 | | |
| 958 | | |
| 3,589 | |
Total liabilities | |
| 62,610 | | |
| 51,422 | | |
| 53,398 | |
Equity: | |
| | | |
| | | |
| | |
Ordinary shares | |
| 1 | | |
| 1 | | |
| 1 | |
Additional paid-in capital | |
| 63,046 | | |
| 63,017 | | |
| 63,001 | |
Treasury Stock | |
| (70,479 | ) | |
| (70,170 | ) | |
| (44,119 | ) |
Accumulated other comprehensive income | |
| 36,937 | | |
| 38,919 | | |
| 40,734 | |
Retained earnings | |
| 192,598 | | |
| 204,754 | | |
| 222,959 | |
Total Actions Semiconductor Co., Ltd. shareholders' equity | |
| 222,103 | | |
| 236,521 | | |
| 282,576 | |
Non-controlling interest | |
| (33 | ) | |
| (32 | ) | |
| (31 | ) |
Total equity | |
| 222,070 | | |
| 236,489 | | |
| 282,545 | |
TOTAL LIABILITIES AND EQUITY | |
| 284,680 | | |
| 287,911 | | |
| 335,943 | |
ACTIONS SEMICONDUCTOR CO., LTD.
CONSOLIDATED CONDENSED STATEMENT OF OPERATIONS
(in thousands of U.S. dollars, except number of shares and per share amounts)
| |
Three months ended | | |
Three months ended | | |
Year ended | | |
Year ended | |
| |
December 31, | | |
December 31, | | |
December 31, | | |
December 31, | |
| |
2014 | | |
2013 | | |
2014 | | |
2013 | |
| |
(unaudited) | | |
(unaudited) | | |
(unaudited) | | |
(audited) | |
| |
| | |
| | |
| | |
| |
Revenues: | |
| | | |
| | | |
| | | |
| | |
Third-parties: | |
| | | |
| | | |
| | | |
| | |
System-on-a-chip products | |
| 10,425 | | |
| 15,095 | | |
| 40,932 | | |
| 64,617 | |
Semiconductor product testing services | |
| 36 | | |
| 29 | | |
| 117 | | |
| 135 | |
| |
| 10,461 | | |
| 15,124 | | |
| 41,049 | | |
| 64,752 | |
Related-parties: | |
| | | |
| | | |
| | | |
| | |
System-on-a-chip products | |
| 3,401 | | |
| 2,451 | | |
| 9,211 | | |
| 4,639 | |
Total revenues | |
| 13,862 | | |
| 17,575 | | |
| 50,260 | | |
| 69,391 | |
Cost of revenues: | |
| | | |
| | | |
| | | |
| | |
Third-parties: | |
| | | |
| | | |
| | | |
| | |
System-on-a-chip products | |
| (12,920 | ) | |
| (11,567 | ) | |
| (37,743 | ) | |
| (44,324 | ) |
Semiconductor product testing services | |
| (18 | ) | |
| (13 | ) | |
| (46 | ) | |
| (58 | ) |
| |
| (12,938 | ) | |
| (11,580 | ) | |
| (37,789 | ) | |
| (44,382 | ) |
Related-parties: | |
| | | |
| | | |
| | | |
| | |
System-on-a-chip products | |
| (3,585 | ) | |
| (2,094 | ) | |
| (8,405 | ) | |
| (3,583 | ) |
Total cost of revenues | |
| (16,523 | ) | |
| (13,674 | ) | |
| (46,194 | ) | |
| (47,965 | ) |
Gross (loss) profit | |
| (2,661 | ) | |
| 3,901 | | |
| 4,066 | | |
| 21,426 | |
Other operating income | |
| 231 | | |
| 1,517 | | |
| 890 | | |
| 2,170 | |
Operating expenses: | |
| | | |
| | | |
| | | |
| | |
Research and development | |
| (7,066 | ) | |
| (6,086 | ) | |
| (31,123 | ) | |
| (25,994 | ) |
General and administrative | |
| (2,661 | ) | |
| (2,547 | ) | |
| (10,330 | ) | |
| (8,764 | ) |
Selling and marketing | |
| (601 | ) | |
| (614 | ) | |
| (2,175 | ) | |
| (2,057 | ) |
Impairment on intangible assets | |
| (535 | ) | |
| - | | |
| (820 | ) | |
| - | |
Total operating expenses | |
| (10,863 | ) | |
| (9,247 | ) | |
| (44,448 | ) | |
| (36,815 | ) |
Loss from operations | |
| (13,293 | ) | |
| (3,829 | ) | |
| (39,492 | ) | |
| (13,219 | ) |
Other (expense) income | |
| (1,085 | ) | |
| 779 | | |
| (2,736 | ) | |
| 2,336 | |
Dividend income from an other investment | |
| - | | |
| - | | |
| 423 | | |
| 493 | |
Other-than-temporary impairment loss on investments | |
| - | | |
| (681 | ) | |
| - | | |
| (681 | ) |
Interest income | |
| 1,699 | | |
| 3,241 | | |
| 9,611 | | |
| 12,358 | |
Interest expense | |
| (147 | ) | |
| (146 | ) | |
| (530 | ) | |
| (498 | ) |
(Loss) income before income taxes, equity in net income (loss) of equity method investees and non-controlling interest | |
| (12,826 | ) | |
| (636 | ) | |
| (32,724 | ) | |
| 789 | |
Income tax credit (expense) | |
| 337 | | |
| (108 | ) | |
| 1,796 | | |
| (403 | ) |
Equity in net income (loss) of equity method investees | |
| 332 | | |
| (82 | ) | |
| 566 | | |
| (264 | ) |
Net (loss) income | |
| (12,157 | ) | |
| (826 | ) | |
| (30,362 | ) | |
| 122 | |
Less: Net loss attributable to non-controlling interest | |
| 1 | | |
| 1 | | |
| 1 | | |
| 2 | |
Net (loss) income attributable to Actions Semiconductor Co., Ltd. Shareholders | |
| (12,156 | ) | |
| (825 | ) | |
| (30,361 | ) | |
| 124 | |
| |
| | | |
| | | |
| | | |
| | |
Net (loss) income attributable to Actions Semiconductor Co., Ltd. Shareholders | |
| | | |
| | | |
| | | |
| | |
Basic (per share) | |
| (0.034 | ) | |
| (0.002 | ) | |
| (0.077 | ) | |
| 0.000 | |
Diluted (per share) | |
| (0.034 | ) | |
| (0.002 | ) | |
| (0.077 | ) | |
| 0.000 | |
| |
| | | |
| | | |
| | | |
| | |
Basic (per ADS) | |
| (0.206 | ) | |
| (0.012 | ) | |
| (0.461 | ) | |
| 0.002 | |
Diluted (per ADS) | |
| (0.206 | ) | |
| (0.012 | ) | |
| (0.461 | ) | |
| 0.002 | |
| |
| | | |
| | | |
| | | |
| | |
Weighted-average shares used in computation: | |
| | | |
| | | |
| | | |
| | |
Basic | |
| 353,508,683 | | |
| 412,162,575 | | |
| 395,380,921 | | |
| 412,103,255 | |
Diluted | |
| 353,508,683 | | |
| 412,162,575 | | |
| 395,380,921 | | |
| 425,415,011 | |
| |
| | | |
| | | |
| | | |
| | |
Weighted-average ADS used in computation : | |
| | | |
| | | |
| | | |
| | |
Basic | |
| 58,918,114 | | |
| 68,693,763 | | |
| 65,896,820 | | |
| 68,683,876 | |
Diluted | |
| 58,918,114 | | |
| 68,693,763 | | |
| 65,896,820 | | |
| 70,902,502 | |
| |
| | | |
| | | |
| | | |
| | |
Note: Share-based compensation recorded in each expense classification above is
as follows: | |
| | | |
| | | |
| | | |
| | |
Research and development | |
| - | | |
| 74 | | |
| 10 | | |
| 347 | |
General and administrative | |
| - | | |
| 25 | | |
| 5 | | |
| 79 | |
Selling and marketing | |
| 1 | | |
| 3 | | |
| 1 | | |
| 17 | |
Cost of revenues | |
| 28 | | |
| - | | |
| 28 | | |
| 49 | |
ACTIONS SEMICONDUCTOR CO., LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands of U.S. dollars)
| |
Three months ended | | |
Year ended | | |
Year ended | |
| |
December 31, | | |
December 31, | | |
December 31, | |
| |
2014 | | |
2014 | | |
2013 | |
| |
(unaudited) | | |
(unaudited) | | |
(audited) | |
Operating activities: | |
| | | |
| | | |
| | |
Net (loss) income | |
| (12,157 | ) | |
| (30,362 | ) | |
| 122 | |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |
| | | |
| | | |
| | |
Depreciation of property, plant and equipment | |
| 487 | | |
| 1,949 | | |
| 2,072 | |
Amortization of land use right | |
| 9 | | |
| 36 | | |
| 36 | |
Amortization of acquired intangible assets | |
| 1,138 | | |
| 4,991 | | |
| 3,480 | |
Allowance for doubtful accounts receivable | |
| 179 | | |
| 558 | | |
| - | |
Utilization of subsidy from local authorities of Zhuhai, the People's Republic of China ("PRC") | |
| - | | |
| - | | |
| (1,068 | ) |
Write down of inventories | |
| 3,971 | | |
| 6,160 | | |
| - | |
Gain (Loss) on disposal of property, plant and equipment | |
| 2 | | |
| (1 | ) | |
| - | |
Loss on disposal of intangible assets | |
| 5 | | |
| 420 | | |
| - | |
Share of net (income) loss of equity method investees | |
| (330 | ) | |
| (564 | ) | |
| 264 | |
Share-based compensation | |
| 29 | | |
| 45 | | |
| 492 | |
Deferred tax | |
| (299 | ) | |
| (3,576 | ) | |
| 279 | |
Dividend income from an other investment | |
| - | | |
| (423 | ) | |
| (493 | ) |
Impairment loss recognised in respect of other investments | |
| - | | |
| - | | |
| 681 | |
Impairment loss recognised in respect of intangible assets | |
| 535 | | |
| 820 | | |
| - | |
Changes in operating assets and liabilities: | |
| | | |
| | | |
| | |
Accounts receivable | |
| 1,487 | | |
| 2,349 | | |
| 195 | |
Amount due from a related party | |
| (618 | ) | |
| (349 | ) | |
| (961 | ) |
Inventories | |
| 4,602 | | |
| (256 | ) | |
| (7,821 | ) |
Amount due from an equity method investee | |
| 5 | | |
| (3 | ) | |
| 41 | |
Prepaid expenses and other current assets | |
| (1,122 | ) | |
| (753 | ) | |
| 922 | |
Accounts payable | |
| 901 | | |
| 86 | | |
| (2,198 | ) |
Accrued expenses and other current liabilities | |
| 935 | | |
| (415 | ) | |
| (3,717 | ) |
Income tax recoverable | |
| (34 | ) | |
| (122 | ) | |
| 123 | |
Income tax payable | |
| 1 | | |
| 1 | | |
| 2 | |
Rental deposit received (paid) | |
| - | | |
| 5 | | |
| (11 | ) |
Note Receivables | |
| (161 | ) | |
| (161 | ) | |
| - | |
Dividend received | |
| - | | |
| 425 | | |
| - | |
| |
| | | |
| | | |
| | |
Net cash used in operating activities | |
| (435 | ) | |
| (19,140 | ) | |
| (7,560 | ) |
| |
| | | |
| | | |
| | |
Investing activities: | |
| | | |
| | | |
| | |
Investment in an equity method investee | |
| - | | |
| (9,016 | ) | |
| (3,712 | ) |
Proceeds from redemption of marketable securities | |
| 6,019 | | |
| 159,296 | | |
| 112,966 | |
Purchase of marketable securities | |
| (906 | ) | |
| (54,290 | ) | |
| (113,329 | ) |
Proceeds from disposal of property, plant and equipment | |
| - | | |
| 20 | | |
| 41 | |
Purchase of property, plant and equipment | |
| (66 | ) | |
| (1,156 | ) | |
| (706 | ) |
Purchase of intangible assets | |
| (2,606 | ) | |
| (8,044 | ) | |
| (4,134 | ) |
Decrease (increase) in time deposits | |
| 156 | | |
| 318 | | |
| (340 | ) |
Deposit paid for acquisition of intangible assets | |
| (108 | ) | |
| (457 | ) | |
| (145 | ) |
Increase in restricted deposits | |
| (13,089 | ) | |
| (24,974 | ) | |
| (16,819 | ) |
Proceeds from disposal of intangible assets | |
| - | | |
| 24 | | |
| - | |
| |
| | | |
| | | |
| | |
Net cash (used in) provided by investing activities | |
| (10,600 | ) | |
| 61,721 | | |
| (26,178 | ) |
| |
| | | |
| | | |
| | |
Financing activities: | |
| | | |
| | | |
| | |
Advance subsidy from local authorities of Zhuhai, the PRC | |
| - | | |
| 232 | | |
| 714 | |
Proceeds from exercise of share-based awards | |
| 132 | | |
| 2,542 | | |
| 3,041 | |
Repurchase of ordinary shares | |
| (441 | ) | |
| (28,902 | ) | |
| (4,853 | ) |
Raise of short-term bank loans | |
| 21,500 | | |
| 31,500 | | |
| 15,000 | |
Repayment of short-term bank loans | |
| (10,000 | ) | |
| (22,000 | ) | |
| - | |
Net cash provided by (used in) financing activities | |
| 11,191 | | |
| (16,628 | ) | |
| 13,902 | |
| |
| | | |
| | | |
| | |
Net increase (decrease) in cash and cash equivalents | |
| 156 | | |
| 25,953 | | |
| (19,836 | ) |
| |
| | | |
| | | |
| | |
Cash and cash equivalents at the beginning of the period | |
| 78,520 | | |
| 53,263 | | |
| 71,336 | |
| |
| | | |
| | | |
| | |
Effect of exchange rate changes on cash | |
| (499 | ) | |
| (1,039 | ) | |
| 1,763 | |
Cash and cash equivalents at the end of the period | |
| 78,177 | | |
| 78,177 | | |
| 53,263 | |
Actions Semiconductor Co., Ltd. ADS, Each Representing Six Ordinary Shares (NASDAQ:ACTS)
Historical Stock Chart
From Apr 2024 to May 2024
Actions Semiconductor Co., Ltd. ADS, Each Representing Six Ordinary Shares (NASDAQ:ACTS)
Historical Stock Chart
From May 2023 to May 2024