0001171843-23-002333 | 10-K | XBRL Viewer | ZW Data Action Technologies INC

Name of the entity

Place and date of incorporation

Percentage of legal ownership

Principal activities

Subsidiaries:

China Net Online Media Group Limited (“China Net BVI”)

British Virgin Islands

August 13, 2007

Investment holding company

Note 18 - Employee Defined Contribution Plan

12 Months Ended

Dec. 31, 2022

18.

Employee defined contribution plan

Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the PRC subsidiaries and VIEs of the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The employee benefits were expensed as incurred. The Company has no legal obligation for the benefits beyond the contributions made. Total amounts for such employee benefits were approximately US$0.22 million for both the years ended December 31, 2022 and 2021.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Note 4 - Summary of Significant Accounting Policies - Estimated Useful Lives of Property, Plant, and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Leasehold Improvements [Member]
Property and equipment, useful life (Year)	3 years
Vehicles [Member]
Property and equipment, useful life (Year)	5 years
Office Equipment [Member] \| Minimum [Member]
Property and equipment, useful life (Year)	3 years
Office Equipment [Member] \| Maximum [Member]
Property and equipment, useful life (Year)	5 years
Electronic Devices [Member]
Property and equipment, useful life (Year)	5 years

Note 14 - Taxation - Taxes Payable (Details) - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Turnover tax and surcharge payable

$ 1,288

$ 1,414

Enterprise income tax payable

1,960

2,120

Taxes payable

^[1]

$ 3,248

$ 3,534

[1]	Liabilities recognized as a result of consolidating the VIEs do not represent additional claims on the Company’s general assets (Note 2).

Note 13 - Accrued Payroll and Other Accruals

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

13.

Accrued payroll and other accruals

	As of December 31,
	2022		2021
	US$(’000)		US$(’000)

Accrued payroll and staff welfare		101		142
Accrued operating expenses		337		247
		438		389

Note 17 - Restricted Net Assets

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Restricted Assets Disclosure [Text Block]

17.

Restricted Net Assets

The Company is a Nevada holding company with operations primarily conducted in China through its PRC subsidiaries, the consolidated VIEs and VIEs’ subsidiaries. The Company’s ability to pay dividends to U.S. investors may depend on receiving distributions from its PRC subsidiaries and settlement of the amounts owed under the VIE agreements from the consolidated VIEs. Any limitation on the ability of the Company’s PRC subsidiaries and the consolidated VIEs to make payments to the Company, or the tax implications of making payments to the Company, could have a material adverse effect on its ability to pay dividends to the U.S. investors.

The PRC regulations currently permit payment of dividends only out of accumulated profits, as determined in accordance with PRC accounting standards and regulations. The Company’s PRC subsidiaries, the consolidated VIEs and their subsidiaries in China are also required to set aside at least 10% of their respective after-tax profit based on the PRC accounting standards and regulations each year to the statutory surplus reserve, until the balance in the reserve reaches 50% of the registered capital of the respective PRC entities. In accordance with these PRC laws and regulations, the Company’s PRC subsidiaries, the consolidated VIEs and their subsidiaries are restricted in their ability to transfer a portion of their net assets to the Nevada holding company. As of December 31, 2022 and December 31, 2021, net assets restricted in the aggregate, that are included in the Company’s consolidated net assets, were approximately US$13.31 million and US$11.58 million, respectively. Appropriations to the enterprise expansion fund and staff welfare and bonus fund of a foreign-invested PRC entity and appropriation to the discretionary surplus reserve of other PRC entities are at the discretion of the board of directors. To date, none of the Company’s PRC subsidiaries, the consolidated VIEs and their subsidiaries appropriated any of these non-mandatory funds and reserves. Furthermore, if these entities incur debt on their own in the future, the instruments governing the debt may restrict their ability to pay dividends or make other payments.

Under the PRC Enterprise Income Tax (“EIT”) Law and related regulations, dividends, interests, rent or royalties payable by a foreign-invested enterprise to its immediate holding company outside China are subject to a 10% withholding tax. A lower withholding tax rate will be applied if there is a tax treaty arrangement between mainland China and the jurisdiction of the foreign holding company. Hong Kong has a tax arrangement with mainland China that provides for a 5% withholding tax on dividends subject to certain conditions and requirements, such as the requirements that the Hong Kong enterprise owns at least 25% of the PRC enterprise distributing the dividend at all times within the 12-month period immediately preceding the distribution of dividends and provides that the recipient can demonstrate it is a Hong Kong tax resident and it is the beneficial owner of the dividends. The PRC government adopted regulations in 2018 which stipulate that in determining whether a non-resident enterprise has the status as a beneficial owner, comprehensive analysis shall be conducted based on the factors listed therein and the actual circumstances of the specific case shall be taken into consideration. Specifically, it expressly excludes an agent or a designated payee from being considered as a “beneficial owner”. The Company owns its PRC subsidiaries through China Net HK. China Net HK currently does not hold a Hong Kong tax resident certificate from the Inland Revenue Department of Hong Kong, there is no assurance that the reduced withholding tax rate will be available for the Company. If China Net HK is not considered to be the “beneficial owner” of the dividends by the Chinese local tax authority, any dividends paid to it by the Company’s PRC subsidiaries would be subject to a withholding tax rate of 10%.

There are no restrictions for the consolidated VIEs to settle the amounts owed under the VIE agreements to Rise King WFOE. However, arrangements and transactions among affiliated entities may be subject to audit or challenge by the PRC tax authorities. If at any time the VIE agreements and the related fee structure between the consolidated VIEs and Rise King WFOE is determined to be non-substantive and disallowed by Chinese tax authorities, the consolidated VIEs could, as a matter of last resort, make a non-deductible transfer to Rise King WFOE for the amounts owed under the VIE agreements. This would result in such transfer being non-deductible expenses for the consolidated VIEs but still taxable income for Rise King WFOE. If this happens, it may increase the Company’s tax burden and reduce its after-tax income in the PRC, and may materially and adversely affect its ability to make distributions to the holding company. The Company’s management is of the view that the likelihood that this scenario would happen is remote.

The Company’s PRC subsidiaries generate all of their revenue in Renminbi, Renminbi is not freely convertible into other currencies. As a result, any restriction on currency exchange may limit the ability of the Company’s PRC subsidiaries to pay dividends/make distributions to the Company. The Chinese government imposes controls on the convertibility of Renminbi into foreign currencies and, in certain cases, the remittance of currency out of China. Shortages in availability of foreign currency may then restrict the ability of the Company’s PRC subsidiaries to remit sufficient foreign currency to the Nevada holding company for the holding company to pay dividends to the U.S. investors. Renminbi is currently convertible under the “current account,” which includes dividends, trade and service-related foreign exchange transactions, but not under the “capital account,” which includes foreign direct investment and foreign debt. Currently, the Company’s PRC subsidiaries may purchase foreign currency for settlement of current account transactions, including payment of dividends to the Nevada holding company, without the approval of the State Administration of Foreign Exchange of China (the “SAFE”) by complying with certain procedural requirements. However, the relevant Chinese governmental authorities may limit or eliminate the Company’s ability to purchase foreign currencies in the future for current account transactions. The Chinese government may continue to strengthen its capital controls, and additional restrictions and substantial vetting processes may be instituted by the SAFE for cross-border transactions falling under both the current account and the capital account. Any existing and future restrictions on currency exchange may limit the Company’s ability to utilize revenue generated in Renminbi to pay dividends in foreign currencies to holders of the Company’s securities. Foreign exchange transactions under the capital account remain subject to limitations and require approvals from, or registration with, the SAFE and other relevant Chinese governmental authorities. This could affect the Company’s ability to obtain foreign currency through debt or equity financing for its PRC subsidiaries.

To date, none of the Company’s subsidiaries has made any distribution of earnings or issued any dividends to their respective shareholder in or outside of China, or to the Nevada holding company, and the Nevada holding company has never declared or paid any cash dividends to U.S. investors.

The Company does not have any present plan to make any distribution of earnings/issue any dividends directly or indirectly to its Nevada holding company or pay any cash dividends on its common stock in the foreseeable future, because the Company currently intend to retain most, if not all, of its available funds and any future earnings to operate and expand the Company’s business.

Note 11 - Intangible Assets, Net

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

11.

Intangible assets, net

	As of December 31, 2022
Items	Gross Carrying Value		Accumulated Amortization			Impairment			Net Carrying Value
	US$(’000)		US$(’000)			US$(’000)			US$(’000)
Intangible assets subject to amortization:
--10 years life:
Cloud compute software technology		1,333		(924	)		(409	)		-
Licensed products use right		1,201		(374	)		-			827

--5 years life:
Internet Ad tracking system		1,160		(405	)		-			755
Live streaming technology		1,500		(625	)		(875	)		-

--3 years life:
Blockchain Integrated Framework		4,038		(1,346	)		(1,010	)		1,682
Bo!News application		345		(115	)		(230	)		-
Other computer software		113		(113	)		-			-
Total	$	9,690	$	(3,902	)	$	(2,524	)	$	3,264

As of December 31, 2021

Items

Gross

Carrying

Value

Accumulated

Amortization

Impairment

Net

Carrying

Value

US$(’000)

US$(’000)

US$(’000)

US$(’000)

Intangible assets subject to amortization:

--10 years life:

Cloud compute software technology
1,456 (1,010 ) (446 ) -

Licensed products use right
1,205 (255 ) - 950

--5 years life:

Internet Ad tracking system
1,158 (174 ) - 984

Live streaming technology
1,500 (325 ) - 1,175

--3 years life:

Blockchain Integrated Framework
4,038 - - 4,038

Bo!News application
376 - - 376

Other computer software
123 (123 ) - -

Total
$ 9,856 $ (1,887 ) $ (446 ) $ 7,523

Amortization expenses in the aggregate for the years ended December 31, 2022 and 2021 were approximately US$2.12 million and US$0.60 million, respectively.

Intangible assets of the Company are tested for impairment when events or circumstances occur that could indicate that the carrying amount of an asset may not be recoverable. For the year ended December 31, 2022, the Company recorded approximately US$2.12 million impairment loss associated with its intangible assets, due to insufficient estimated future cash flows expected to be generated by these assets. For the year ended December 31, 2021, the Company did not recognize any impairment loss associated with its intangible assets.

Based on the adjusted carrying value of the finite-lived intangible assets after the deduction of the impairment losses, which has a weighted average remaining useful life of 3.51 years as of December 31, 2022, and assuming no further subsequent impairment of the underlying intangible assets, the estimated future amortization expenses is approximately US$1.19 million each year for the year ending December 31, 2023 and 2024, US$0.35 million for the year ending December 31, 2025, approximately US$0.18 million for the year ending December 31, 2026, and approximately US$0.12 million for the year ending December 31, 2027.

Note 4 - Summary of Significant Accounting Policies - Maturity of Operating Lease Liabilities (Details) - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

$ 447

313

328

345

362

444

Total undiscounted lease payments

2,239

Less: imputed interest

(357)

Operating lease liabilities

1,882

Operating lease liabilities

^[1]

347

$ 202

Operating lease liabilities-Non current

^[1]

1,535

$ 1,907

Operating lease liabilities

$ 1,882

[1]	Liabilities recognized as a result of consolidating the VIEs do not represent additional claims on the Company’s general assets (Note 2).

Note 7 - Due from Related Parties, Net (Tables)

12 Months Ended

Dec. 31, 2022

Due From Related Parties [Member]

Notes Tables

	As of December 31,
	2022			2021
	US$(’000)			US$(’000)

Zhongwang Xiyue Technology (Beijing) Co., Ltd. (“Zhongwang Xiyue”)		-			62
Guangzhou Gong Xiang Technology Co., Ltd. (“Gong Xiang Technology”)		14			28
Due from related parties, total		14			90
Allowance for doubtful accounts		(14	)		-
Due from related parties, net		-			90

Note 21 - Segment Reporting - Summary of Segment Reporting Information (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Revenues

$ 26,235

$ 47,328

Cost of revenues

26,429

47,230

Total operating expenses

10,925

13,688

Depreciation and amortization expenses included in cost of revenues and operating expenses

2,215

632

Impairment on intangible assets included in operating expenses

2,123

Loss from operations

(11,119)

(13,590)

Impairment on long-term investments

596

Change in fair value of warrant liabilities

1,854

11,329

Net loss

(9,791)

(2,688)

Total assets

19,658

32,631

Expenditure for long-term assets

1,494

Corporate, Non-Segment [Member]

Revenues

Cost of revenues

Total operating expenses

3,713

^[1]

9,734

^[2]

Depreciation and amortization expenses included in cost of revenues and operating expenses

Loss from operations

(3,713)

(9,734)

Impairment on long-term investments

520

Change in fair value of warrant liabilities

1,854

11,329

Net loss

(2,254)

990

Total assets

39,136

44,328

Expenditure for long-term assets

280

Intersegment Eliminations [Member]

Impairment on intangible assets included in operating expenses

Loss from operations

Net loss

Total assets

(31,701)

(30,497)

Expenditure for long-term assets

Internet Ad [Member] | Operating Segments [Member]

Revenues

25,810

46,666

Cost of revenues

26,093

45,730

Total operating expenses

3,072

1,423

Depreciation and amortization expenses included in cost of revenues and operating expenses

366

313

Impairment on intangible assets included in operating expenses

Loss from operations

(3,355)

(487)

Impairment on long-term investments

Net loss

(3,485)

(309)

Total assets

10,385

12,150

Expenditure for long-term assets

1,214

Ecommerce O2O Ad and Marketing Services [Member] | Operating Segments [Member]

Revenues

662

Cost of revenues

1,500

Total operating expenses

1,764

2,529

Depreciation and amortization expenses included in cost of revenues and operating expenses

300

Impairment on intangible assets included in operating expenses

875

Loss from operations

(1,764)

(3,367)

Net loss

(1,764)

(3,366)

Total assets

156

2,236

Expenditure for long-term assets

Corporate Segment [Member]

Revenues

26,235

Cost of revenues

26,429

Total operating expenses

10,925

Change in fair value of warrant liabilities

1,854

Blockchain Technology [Member] | Operating Segments [Member]

Cost of revenues

336

Total operating expenses

2,376

Depreciation and amortization expenses included in cost of revenues and operating expenses

1,465

Impairment on intangible assets included in operating expenses

1,248

Loss from operations

(2,287)

(2)

Net loss

(2,288)

(3)

Total assets

$ 1,682

4,414

Expenditure for long-term assets

$ 0

[1]	Including approximately US$0.14 million share-based compensation expenses.
[2]	Including approximately US$0.05 million share-based compensation expenses.

Note 4 - Summary of Significant Accounting Policies - Summary of Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Warrant liabilities	$ 185	$ 2,039
Fair Value, Recurring [Member]
Warrant liabilities	185	2,039
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Warrant liabilities	$ 185	$ 2,039

Note 1 - Organization and Nature of Operations

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Nature of Operations [Text Block]

1.	Organization and nature of operations

ZW Data Action Technologies Inc. (f/k/a ChinaNet Online Holdings, Inc.) (the “Company”) was incorporated in the State of Texas in April 2006 and re-domiciled to become a Nevada corporation in October 2006. On June 26, 2009, the Company consummated a share exchange transaction with China Net Online Media Group Limited (the “Share Exchange”), a company organized under the laws of British Virgin Islands (“China Net BVI”). As a result of the Share Exchange, China Net BVI became a wholly owned subsidiary of the Company and the Company is now a holding company, which, through certain contractual arrangements with operating companies in the People’s Republic of China (the “PRC”), is engaged in providing Internet advertising, precision marketing, e-commerce online to offline (O2O) advertising and marketing services as well as the related data and technical services to small and medium enterprises (SMEs) in the PRC. The Company also develops blockchain enabled web/mobile applications and provides software solutions, i.e., Software-as-a-Service (“SaaS”) services for clients.

The Company’s wholly owned subsidiary, China Net BVI was incorporated in the British Virgin Islands on August 13, 2007. On April 11, 2008, China Net BVI became the parent holding company of a group of companies comprised of CNET Online Technology Co. Limited, a Hong Kong company (“China Net HK”), which established and is the parent company of Rise King Century Technology Development (Beijing) Co., Ltd., a wholly foreign-owned enterprise (“WFOE”) established in the PRC (“Rise King WFOE”). The Company refers to the transactions that resulted in China Net BVI becoming an indirect parent company of Rise King WFOE as the “Offshore Restructuring.”

PRC regulations prohibit direct foreign ownership of business entities providing Internet content, or ICP services in the PRC, and used to restrict foreign ownership of business entities engaging in the advertising business, which was subsequently lifted in June 2015. To satisfy PRC laws and regulations, the Company conducts certain business in the PRC through its Variable Interest Entities (“VIEs”). Through a series of contractual agreements (the “Contractual Agreements” or “VIE Agreements”) between Rise King WFOE and Business Opportunity Online (Beijing) Network Technology Co., Ltd. (“Business Opportunity Online”), Beijing CNET Online Advertising Co., Ltd. (“Beijing CNET Online”) (collectively the “PRC Operating Entities” or the “VIEs”) and its common individual owners (the “PRC Shareholders” or the “Control Group”), the Company, through Rise King WFOE, secures significant rights to influence the PRC Operating Entities’ business operations, policies and management, approve all matters requiring shareholder approval, and the right to receive the income earned by the PRC Operating Entities. In return, Rise King WFOE provides consulting services to the PRC Operating Entities. In addition, to ensure that the PRC Operating Entities and the PRC Shareholders perform their obligations under the Contractual Arrangements, the PRC Shareholders have pledged all of their equity interests in the PRC Operating Entities to Rise King WFOE. They also entered into an option agreement with Rise King WFOE which provides that at such time as when the restrictions under PRC law on foreign ownership of Chinese companies engaging in the Internet content, information services or advertising business in China are lifted, Rise King WFOE may exercise its option to purchase the equity interests in the PRC Operating Entities, directly.

As a result of these Contractual Agreements, Rise King WFOE has the power to direct activities of the PRC Operating Entities that most significantly impact the economic performance of the PRC Operating Entities and the obligation to absorb the losses and the right to receive benefits of the PRC Operating Entities that could potentially be significant to the PRC Operating Entities in a manner that does not violate the related PRC laws. As such, Rise King WFOE is deemed to be the primary beneficiary of the PRC Operating Entities, or the VIEs, that are parties to the relevant VIE agreements, for accounting purposes only, which serves the purpose of consolidating the VIEs’ operating results in the preparation of the Company’s consolidated financial statements in accordance with the provisions of FASB Accounting Standards Codification ("ASC") Topic 810 “Consolidation”, subtopic 10.

As of December 31, 2022, the Company’s consolidated subsidiaries, VIEs and VIEs’ subsidiaries are summarized as follows:

CNET Online Technology Co. Limited (“China Net HK”)	Hong Kong, PRC September 4, 2007	100%	Investment holding company

ChinaNet Investment Holding Ltd. (“ChinaNet Investment BVI”)	British Virgin Islands January 12, 2015	100%	Investment holding company

Grandon Investments Limited (“Grandon BVI”)	British Virgin Islands February 13, 2006	100%	Investment holding company, providing e-commerce advertising services and blockchain-based SaaS services

Winner Glory Limited(“Winner Glory HK”)	Hong Kong, PRC August 12, 2020	100%	Investment holding company

Rise King Century Technology Development (Beijing) Co., Ltd. (“Rise King WFOE”)	PRC January 17, 2008	100%	Investment holding company, providing advertising, marketing and related services

ChinaNet Online Holdings Co., Ltd. (“ChinaNet Online Holdings”)	PRC August 31, 2015	100%	Investment holding company

ChinaNet Online (Guangdong) Holdings Co., Ltd. (“ChinaNet Online Guangdong Holdings”)	PRC May 12, 2021	100%	Investment holding company

*VIEs:*

Business Opportunity Online (Beijing) Network Technology Co., Ltd. (“Business Opportunity Online”)	PRC December 8, 2004	Consolidated VIE	Providing online advertising, precision marketing and the related data services

Beijing CNET Online Advertising Co., Ltd. (“Beijing CNET Online”)	PRC January 27, 2003	Consolidated VIE	Providing advertising, marketing and related value-added services

*VIEs’ subsidiaries:*

Beijing Chuang Fu Tian Xia Network Technology Co., Ltd. (“Beijing Chuang Fu Tian Xia”)	PRC March 1, 2011	VIE’s subsidiary	Providing online advertising, precision marketing and the related data services

Business Opportunity Online (Hubei) Network Technology Co., Ltd. (“Business Opportunity Online Hubei”)	PRC January 28, 2011	VIE’s subsidiary	Providing online advertising, precision marketing and the related data services

Beijing Chuang Shi Xin Qi Advertising Media Co., Ltd. (“Beijing Chuang Shi Xin Qi”)	PRC April 16, 2014	VIE’s subsidiary	Providing online advertising, precision marketing and the related data services

Beijing Hong Da Shi Xing Network Technology Co., Ltd. (“Beijing Hong Da Shi Xing”)	PRC April 16, 2014	VIE’s subsidiary	Providing online advertising, precision marketing and the related data services

ChinaNet Online (Guangdong) Technology Co., Ltd. (“ChinaNet Online Guangdong Technology”)	PRC May 26, 2020	VIE’s subsidiary	Developing and operating blockchain technology-based products and services, and other related value-added services

Note 23 - Share-based Compensation Expenses

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

23.

Share-based compensation expenses

In March 2022, under its 2020 Omnibus Securities and Incentive Plan, the Company granted and issued an aggregate of 0.019 million fully-vested shares of the Company’s restricted common stock to two of the Company’s executive officers in exchange for their services to the Company for the year ended December 31, 2022. These shares were valued at the closing bid price of the Company’s common stock on the respective date of grant. Total compensation expenses recognized was approximately US$0.06 million for the year ended December 31, 2022.

In June 2022, the Company granted and issued 0.08 million fully-vested and non-forfeitable shares of the Company restricted common stock to a management consulting and advisory service provider in exchange for its service for a 12-month period until May 2023. The Company valued these shares at US$1.75 per share, the closing bid price of the Company’s common stock on the grant date of these shares and recorded the related total cost of approximately US$0.14 million as a prepayment asset in prepayment and deposit to suppliers account upon the grant and issuance of these shares. Total compensation expenses amortized was approximately US$0.08 million for the year ended December 31, 2022.

In May 2021, under its 2020 Omnibus Securities and Incentive Plan, the Company granted and issued 0.797 million fully-vested shares of the Company’s restricted common stock to its management and employees for their services provided to the Company. These shares were valued at the closing bid price of the Company’s common stock on the date of grant, which was US$8.35 per share. Total compensation expenses recognized was approximately US$6.66 million for the year ended December 31, 2021.

In March 2021, the Company granted and issued 0.006 million shares of the Company’s restricted common stock to one of its independent directors, in exchange for his services to the Company. The shares issued were valued at US$15.65 per share, the closing bid price of the Company’s common stock on the grant date. Total compensation expenses of approximately US$0.09 million was recorded for the years ended December 31, 2021.

For the years ended December 31, 2022 and 2021, the Company amortized an approximately US$0.04 million and US$0.24 million compensation expense, respectively, which was related to fully-vested and nonforfeitable restricted common stock granted and issued to one of its service providers in March 2020 for a 24-month period until February 2022.

For the year ended December 31, 2021, the Company also amortized an approximately US$0.04 million compensation expense, which was related to fully-vested and nonforfeitable restricted common stock granted and issued to another service provider of the Company in August 2020 for a 12-month period until July 2021.

The table below summarized share-based compensation expenses recorded for the years ended December 31, 2022 and 2021, respectively:

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)

Sales and marketing expenses		-		-
General and administrative expenses		186		7,028
Research and development expenses		-		-
Total		186		7,028

The aggregate unrecognized share-based compensation expenses as of December 31, 2022 was approximately US$0.06 million, which will be recognized for the year ending December 31, 2023.

**The numbers of restricted common stock and the related stock prices discussed in this note have been retroactively restated for effect of the 1-for-5 reverse stock split on January 18, 2023, see Note 4(l).

Note 11 - Intangible Assets, Net - Intangible Assets, Net (Details) (Parentheticals)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Useful life (Year)	3 years 6 months 3 days
Cloud-Computing Based Software Platforms [Member]
Useful life (Year)	10 years	10 years
Licensing Agreements [Member]
Useful life (Year)	10 years	10 years
Internet Ad Tracking System [Member]
Useful life (Year)	5 years	5 years
Livestreaming Technology [Member]
Useful life (Year)	5 years	5 years
Blockchain Integrated Framework Platform [Member]
Useful life (Year)	3 years	3 years
Bo!News Application [Member]
Useful life (Year)	3 years	3 years
Other Computer Software [Member]
Useful life (Year)	3 years	3 years

Note 10 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Depreciation, Total	$ 100	$ 30

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net loss	$ (9,791)	$ (2,688)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	2,215	632
Amortization of operating lease right-of-use assets	341	207
Share-based compensation expenses	186	7,028
Loss on disposal of long-term investment	0	38
Impairment on long-term investments	596	0
Impairment of Intangible Assets, Finite-Lived	2,123	0
Provision of allowances for doubtful accounts	2,394	0
Change in fair value of warrant liabilities	(1,854)	(11,329)
Deferred taxes	(3)	177
Other non-operating (income)/losses	(113)	524
Changes in operating assets and liabilities
Accounts receivable	(276)	(986)
Prepayment and deposit to suppliers	1,652	(2,061)
Due from related parties	59	0
Other current assets	2	6
Long-term deposits and prepayments	0	(74)
Accounts payable	(848)	495
Advances from customers	(420)	(221)
Accrued payroll and other accruals	60	(90)
Other current liabilities	836	(355)
Taxes payable	(6)	29
Operating lease liabilities	(302)	(116)
Lease payment liability related to short-term leases	(40)	(54)
Net cash used in operating activities	(3,189)	(8,838)
Cash flows from investing activities
Payment for leasehold improvements and purchase of vehicles, furniture and office equipment	0	(334)
Cash effect of deconsolidation of VIE’s subsidiaries	0	(8)
Investment and advances to ownership investee entities	0	(2,263)
Repayment of short-term loans from ownership investee entities	12	0
Short-term loans to unrelated parties	(2,600)	(1,507)
Repayment of short-term loans and interest income from unrelated parties	2,140	1,305
Deposit and prepayment repaid from/(paid for) contracts of other investing activities	1,000	(1,500)
Payment for purchase of software technology and other intangible assets	0	(1,160)
Net cash provided by/(used in) investing activities	552	(5,467)
Cash flows from financing activities
Proceeds from issuance of common stock and warrants (net of cash offering cost of $1,600)	0	17,111
Net cash provided by financing activities	0	17,111
Effect of exchange rate fluctuation on cash and cash equivalents	(145)	70
Net (decrease)/increase in cash and cash equivalents	(2,782)	2,876
Cash and cash equivalents, at beginning of the year	7,173	4,297
Cash and cash equivalents, at end of the year	4,391	7,173
Supplemental disclosure of cash flow information
Income taxes paid	0	0
Interest expense paid	$ 0	$ 0

Note 12 - Long-term Deposits and Prepayment

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Long-term Prepayments [Text Block]

12.

Long-term deposits and prepayment

As of December 31, 2022 and 2021, long-term deposits and prepayments represented the Company’s operating deposits and prepayments that were not expected to be refunded or consumed within one year of the respective reporting date.

Note 10 - Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Property and Equipment [Table Text Block]

	As of December 31,
	2022			2021
	US$(’000)			US$(’000)

Vehicles		855			933
Office equipment		865			944
Electronic devices		575			629
Leasehold improvement		185			202
Property and equipment, cost		2,480			2,708
Less: accumulated depreciation		(2,231	)		(2,333	)
Property and equipment, net		249			375

Note 1 - Organization and Nature of Operations (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Consolidated Subsidiaries and VIEs [Table Text Block]

CNET Online Technology Co. Limited (“China Net HK”)	Hong Kong, PRC September 4, 2007	100%	Investment holding company

ChinaNet Investment Holding Ltd. (“ChinaNet Investment BVI”)	British Virgin Islands January 12, 2015	100%	Investment holding company

Grandon Investments Limited (“Grandon BVI”)	British Virgin Islands February 13, 2006	100%	Investment holding company, providing e-commerce advertising services and blockchain-based SaaS services

Winner Glory Limited(“Winner Glory HK”)	Hong Kong, PRC August 12, 2020	100%	Investment holding company

Rise King Century Technology Development (Beijing) Co., Ltd. (“Rise King WFOE”)	PRC January 17, 2008	100%	Investment holding company, providing advertising, marketing and related services

ChinaNet Online Holdings Co., Ltd. (“ChinaNet Online Holdings”)	PRC August 31, 2015	100%	Investment holding company

ChinaNet Online (Guangdong) Holdings Co., Ltd. (“ChinaNet Online Guangdong Holdings”)	PRC May 12, 2021	100%	Investment holding company

*VIEs:*

Business Opportunity Online (Beijing) Network Technology Co., Ltd. (“Business Opportunity Online”)	PRC December 8, 2004	Consolidated VIE	Providing online advertising, precision marketing and the related data services

Beijing CNET Online Advertising Co., Ltd. (“Beijing CNET Online”)	PRC January 27, 2003	Consolidated VIE	Providing advertising, marketing and related value-added services

*VIEs’ subsidiaries:*

Beijing Chuang Fu Tian Xia Network Technology Co., Ltd. (“Beijing Chuang Fu Tian Xia”)	PRC March 1, 2011	VIE’s subsidiary	Providing online advertising, precision marketing and the related data services

Business Opportunity Online (Hubei) Network Technology Co., Ltd. (“Business Opportunity Online Hubei”)	PRC January 28, 2011	VIE’s subsidiary	Providing online advertising, precision marketing and the related data services

Beijing Chuang Shi Xin Qi Advertising Media Co., Ltd. (“Beijing Chuang Shi Xin Qi”)	PRC April 16, 2014	VIE’s subsidiary	Providing online advertising, precision marketing and the related data services

Beijing Hong Da Shi Xing Network Technology Co., Ltd. (“Beijing Hong Da Shi Xing”)	PRC April 16, 2014	VIE’s subsidiary	Providing online advertising, precision marketing and the related data services

ChinaNet Online (Guangdong) Technology Co., Ltd. (“ChinaNet Online Guangdong Technology”)	PRC May 26, 2020	VIE’s subsidiary	Developing and operating blockchain technology-based products and services, and other related value-added services

Note 8 - Other Current Assets, Net

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Other Current Assets [Text Block]

8.	Other current assets, net

	December 31, 2022			December 31, 2021
	US$(’000)			US$(’000)

Short-term loans to unrelated parties		2,197			1,646
Short-term loans interest receivables		22			-
Staff advances for business operations		8			11
Total other current assets		2,227			1,657
Allowance for doubtful accounts		(617	)		-
Other current assets, net		1,610			1,657

In fiscal 2022, the Company provided unsecured, interest-bearing short-term working capital loans to two unrelated parties, which were set forth as below. These short-term working capital loans were recorded as other current assets.

On January 5, 2022, the Company provided a short-term working capital loan of US$2.5 million to an unrelated party, which would mature on May 5, 2022. The loan was unsecured and borne a fixed annualized interest rate of 7.5%. On April 25, 2022, the Company and this unrelated party entered into a supplementary contract, based on which, the unrelated party repaid a portion of the loan principal of US$1.02 million, together with a loan interest of US0.06 million for the period from January 5, 2022 through April 30, 2022, based on the loan principal of US$2.5 million. In addition, the Company agreed to extend the term of the remaining loan principal of US$1.48 million to October 31, 2022 with a revised fixed annualized interest rate of 5%. On October 31, 2022, the Company further extended the term of this loan to April 30, 2023. In October 2022, the Company received the loan interest of approximately US$0.03 million for the period from May 1, 2022 through September 30, 2022. In February 2023, the Company received the loan interest of approximately US$0.02 million for the period from October 1, 2022 through December 31, 2022.

On April 21, 2022, the Company provided a short-term working capital loan of US$0.10 million to another unrelated party, which would mature on December 31, 2022. The loan is unsecured and bears a fixed annualized interest rate of 5%. The loan and the related loan interest was required to be repaid in lump sum at maturity on December 31, 2022. The term of this loan was further extended to March 17, 2023 with the same interest rate for the extended period. On March 17, 2023, the Company fully collected the loan principal of US$0.10 million together with a loan interest of approximately US$0.005 million for the period from April 21, 2022 through March 17, 2023.

As of December 31, 2022, other current assets also included a US$0.62 million remaining outstanding balance of a working capital loan that the Company provided to an unrelated party, Digital Sun Ventures Limited, a Hong Kong-based company (“Digital Sun”). In March 2021, the Company and Digital Sun reached an oral agreement, pursuant to which the Company provided a working capital loan of US$1.65 million to Digital Sun. The loan has a one-year term. The loan is unsecured, interest free and is required to be repaid in lump sum at maturity by March 2022.

The Company provided this unsecured and interest free loan to Digital Sun in consideration of the promises and claims made by Digital Sun’s management that Digital Sun has close connections with international well-known media companies seeking for strategic cooperation partners in China, and Digital Sun will facilitate building strategic business partnerships among the Company and these media companies.

As of March 31, 2022, Digital Sun had repaid US$1.03 million of this loan and defaults on the loan balance of US$0.62 million. The Company attempted to collect the outstanding loan balance. In June 2022, the Company fully allowanced the outstanding loan balance of US$0.62 million based on the Company’s assessment of the collectability of this outstanding balance. The Company had engaged a law firm and prepared and sent a legal letter to Digital Sun in March 2023, and the Company intends to take further actions to safeguard its rights against the default, including but not limited to, arranging meetings with the management of Digital Sun to negotiate the repayment plan in person and filing a lawsuit against Digital Sun after all other means of collection have been exhausted. As of the date hereof, the Company has not received any formal responses from Digital Sun.

Note 4 - Summary of Significant Accounting Policies - Operating Lease Expenses and Supplemental Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Long-term operating lease contracts	$ 459	$ 302
Short-term operating lease contracts	48	60
Total	507	362
Operating cash flows used for operating leases (US$’000)	361	210
Right-of-use assets obtained in exchange for new lease liabilities (US$’000)	$ 252	$ 2,186
Weighted-average remaining lease term (Year)	5 years 9 months	7 years 1 month 13 days
Weighted-average discount rate	6.00%	6.00%

Note 2 - Variable Interest Entities

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Variable Interest Entities Disclosure [Text Block]

2.	Variable Interest Entities

To satisfy PRC laws and regulations, the Company conducts certain business in the PRC through its Variable Interest Entities (“VIEs”).

The significant terms of the Company’s VIE Agreements are summarized below:

Exclusive Business Cooperation Agreements: Pursuant to the Exclusive Business Cooperation Agreements entered into by and between Rise King WFOE and each of the PRC Operating Entities, Rise King WFOE has the exclusive right to provide to the PRC Operating Entities complete technical support, business support and related consulting services during the term of these agreements, which includes but is not limited to technical services, business consultations, equipment or property leasing, marketing consultancy system integration, product research and development, and system maintenance. In exchange for such services, each PRC Operating Entity has agreed to pay a service fee consisting of a management fee and a fee for services provided, to Rise King WFOE, which shall be determined by Rise King WFOE according to the following factors: the complexity and difficulty of the services, seniority of and time consumed by the employees, specific contents, scope and value of the services, market price of the same type of services, and operation conditions of the PRC Operating Entities. Each agreement shall remain effective unless terminated in accordance with the provisions thereof or terminated in writing by Rise King WFOE.

Exclusive Option Agreements: Under the Exclusive Option Agreements entered into by and among Rise King WFOE, each of the PRC Shareholders irrevocably granted to Rise King WFOE or its designated person an exclusive option to purchase, to the extent permitted by PRC law, a portion or all of their respective equity interest in any PRC Operating Entities for a purchase price of RMB 10, or a purchase price to be adjusted to be in compliance with applicable PRC laws and regulations. Rise King WFOE, or its designated person, has the sole discretion to decide when to exercise the option, whether in part or in full. Each of these agreements shall become effective upon execution and remain effective until all equity interests held by the relevant PRC Shareholder(s) in the PRC Operating Entities have been transferred or assigned to Rise King WFOE and/or any other person designated by Rise King WFOE.

Equity Pledge Agreements: Under the Equity Pledge Agreements entered into by and among Rise King WFOE, the PRC Operating Entities and each of the PRC Shareholders, the PRC Shareholders pledged all of their equity interests in the PRC Operating Entities to guarantee the PRC Operating Entities’ and the PRC Shareholders’ performance of the relevant obligations under the Exclusive Business Cooperation Agreements and other Contractual Agreements. If the PRC Operating Entities or any of the PRC Shareholders breaches its/his/her respective contractual obligations under these agreements, or upon the occurrence of one of the events regarded as an event of default under each such agreement, Rise King WFOE, as pledgee, will be entitled to certain rights, including the right to dispose of the pledged equity interests. The PRC Shareholders of the PRC Operating Entities agreed not to dispose of the pledged equity interests or take any actions that would prejudice Rise King WFOE's interest, and to notify Rise King WFOE of any events or upon receipt of any notices which may affect Rise King WFOE's interest in the pledge. Each of the equity pledge agreements will be valid until all the obligations under the Exclusive Business Cooperation Agreements and other Contractual Agreements have been fulfilled, including the service fee payments related to the Exclusive Business Cooperation Agreement are paid in full.

Irrevocable Powers of Attorney: The PRC Shareholders have each executed an irrevocable power of attorney to appoint Rise King WFOE as their exclusive attorneys-in-fact to vote on their behalf on all PRC Operating Entities matters requiring shareholder approval. The term of each power of attorney is valid so long as such shareholder is a shareholder of the respective PRC Operating Entity.

As a result of these VIE Agreements, the Company through its wholly-owned subsidiary, Rise King WFOE, was granted with unconstrained decision making rights and power over key strategic and operational functions that would significantly impact the PRC Operating Entities or the VIEs’ economic performance, which includes, but is not limited to, the development and execution of the overall business strategy; important and material decision making; decision making for merger and acquisition targets and execution of merger and acquisition plans; business partnership strategy development and execution; government liaison; operation management and review; and human resources recruitment and compensation and incentive strategy development and execution. Rise King WFOE also provides comprehensive services to the VIEs for their daily operations, such as operational technical support, office automation technical support, accounting support, general administration support and technical support for products and services. As a result of the Exclusive Business Cooperation Agreements, the Equity Pledge Agreements and the Exclusive Option Agreements, Rise King WFOE has the obligation to absorb the losses and the right to receive benefits of the VIEs that could potentially be significant to the VIEs. Rise King WFOE is deemed to be the primary beneficiary of the PRC Operating Entities, or the VIEs, that are parties to the relevant VIE agreements, for accounting purposes only, which serves the purpose of consolidating the VIEs’ operating results in the preparation of the Company’s consolidated financial statements under the U.S. GAAP.

In the opinion of the Company’s PRC legal counsel, as of the date hereof, the Company’s current contractual arrangements with the VIEs and their respective shareholders are valid, binding and enforceable. However, there exist substantial uncertainties and risks regarding regulations and their potential effect on the Company’s VIE structure and contractual arrangements.

On March 15, 2019, the National People’s Congress of the PRC approved the Foreign Investment Law, which came into effect on January 1, 2020. The Foreign Investment Law embodies an expected PRC regulatory trend to rationalize its foreign investment regulatory regime in line with prevailing international practice and the legislative efforts to unify the corporate legal requirements for both foreign and domestic investments. However, since it is relatively new, uncertainties still exist in relation to its interpretation and implementation. Though it does not explicitly classify contractual arrangements as a form of foreign investment, there is no assurance that foreign investment via contractual arrangement would not be interpreted as a type of indirect foreign investment activities under the definition in the future. In addition, the definition contains a catch-all provision which includes investments made by foreign investors through means stipulated in laws or administrative regulations or other methods prescribed by the State Council. Therefore, it still leaves leeway for future laws, administrative regulations or provisions promulgated by the State Council to provide for contractual arrangements as a form of foreign investment. In any of these cases, it will be uncertain whether the Company’s contractual arrangements will be deemed to be in violation of the market access requirements for foreign investment under the PRC laws and regulations. Furthermore, if future laws, administrative regulations or provisions prescribed by the State Council mandate further actions to be taken by companies with respect to existing contractual arrangements, the Company may face substantial uncertainties as to whether it can complete such actions in a timely manner, or at all. Failure to take timely and appropriate measures to cope with any of these or similar regulatory compliance challenges could materially and adversely affect the Company’s current corporate structure, corporate governance and business operations.

In addition, these contractual arrangements may not be as effective in providing the Company with control over the VIEs as would direct ownership. Due to its VIE structure, the Company has to rely on contractual rights to effect control and management of the VIEs, which exposes it to the risk of potential breach of contract by the shareholders of the VIEs for a number of reasons. For example, their interests as shareholders of the VIEs and the interests of the Company may conflict, and the Company may fail to resolve such conflicts; the shareholders may believe that breaching the contracts will lead to greater economic benefit for them; or the shareholders may otherwise act in bad faith. If any of the foregoing were to happen, the Company may have to rely on legal or arbitral proceedings to enforce its contractual rights, including specific performance or injunctive relief, and claiming damages. Such arbitral and legal proceedings may cost substantial financial and other resources, and result in a disruption of its business, and the Company cannot assure that the outcome will be in its favor. In addition, as all of these contractual arrangements are governed by PRC law and provide for the resolution of disputes through either arbitration or litigation in the PRC, they would be interpreted in accordance with PRC law and any disputes would be resolved in accordance with PRC legal procedures. The legal environment in the PRC is not as developed as in other jurisdictions, such as the United States. As a result, uncertainties in the PRC legal system could further limit the Company’s ability to enforce these contractual arrangements. Furthermore, these contracts may not be enforceable in China if PRC government authorities or courts take a view that such contracts contravene PRC laws and regulations or are otherwise not enforceable for public policy reasons. In the event that the Company is unable to enforce any of these agreements, the Company would not be able to exert effective control over the affected VIEs and consequently, the results of operations, assets and liabilities of the affected VIEs and their subsidiaries would not be included in the Company's consolidated financial statements. If such were the case, the Company's cash flows, financial position and operating performance would be materially adversely affected.

As of the date hereof, to the best knowledge of the Company and its directors and management, the Company’s VIE agreements have not been tested in a court of law in the PRC and may not be effective in providing control over the VIEs as would direct equity ownership.

Summarized below is the information related to the VIEs’ assets and liabilities reported in the Company’s consolidated balance sheets as of December 31, 2022 and 2021, respectively:

As of December 31,

2022

2021

US$(’000)

US$(’000)

Assets

Current assets:

Cash and cash equivalents
$ 578 $ 181

Accounts receivable, net
1,745 2,796

Prepayment and deposit to suppliers
2,020 5,287

Due from related parties, net
- 90

Other current assets
2 4

Total current assets
4,345 8,358

Long-term investments, net
165 496

Operating lease right-of-use assets
145 21

Property and equipment, net
113 168

Deferred tax assets
406 441

Total Assets
$ 5,174 $ 9,484

Liabilities

Current liabilities:

Accounts payable
$ 205 $ 1,119

Advances from customers
515 1,113

Accrued payroll and other accruals
63 83

Taxes payable
2,602 2,849

Operating lease liabilities
146 9

Lease payment liabilities related to short-term leases
101 110

Other current liabilities
320 53

Total current liabilities
3,952 5,336

Operating lease liabilities-Non current
- 10

Total Liabilities
$ 3,952 $ 5,346

Liabilities recognized as a result of consolidating the VIEs do not represent additional claims on the Company’s general assets.

Summarized below is the information related to the financial performance of the VIEs reported in the Company’s consolidated statements of operations and comprehensive loss for the years ended December 31, 2022 and 2021, respectively:

Year Ended December 31,

2022

2021

US$(’000)

US$(’000)

Revenues
$ 24,188 $ 42,136

Cost of revenues
25,599 45,730

Total operating expenses
3,117 1,409

Net loss before allocation to noncontrolling interests
4,873 5,182

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Share-Based Payment Arrangement, Employee [Member] Common Stock [Member]	Share-Based Payment Arrangement, Employee [Member] Additional Paid-in Capital [Member]	Share-Based Payment Arrangement, Employee [Member] Statutory Reserves [Member]	Share-Based Payment Arrangement, Employee [Member] Retained Earnings [Member]	Share-Based Payment Arrangement, Employee [Member] AOCI Attributable to Parent [Member]	Share-Based Payment Arrangement, Employee [Member] Noncontrolling Interest [Member]	Share-Based Payment Arrangement, Employee [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Statutory Reserves [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2020								5,221,552
Balance at Dec. 31, 2020								$ 5	$ 49,793	$ 2,598	$ (40,980)	$ 1,129	$ (66)	$ 12,479
Issuance of common stock for private placement, net of $10,476 proceeds allocated to investor warrants labilities and $3,045 direct offering costs (including $1,445 proceeds allocated to placement agent warrants liabilities and $1,600 cash offering cost, respectively), respectively (in shares)								1,042,400
Issuance of common stock for private placement, net of $10,476 proceeds allocated to investor warrants labilities and $3,045 direct offering costs (including $1,445 proceeds allocated to placement agent warrants liabilities and $1,600 cash offering cost, respectively), respectively								$ 1	5,189	0	0	0	0	5,190
Share-based compensation in exchange for services from employees and directors (in shares)	803,148
Share-based compensation in exchange for services from employees and directors	$ 1	$ 6,749	$ 0	$ 0	$ 0	$ 0	$ 6,750
Cashless exercise of warrants (in shares)								8,406
Cashless exercise of warrants								$ 0	82	0	0	0	0	82
Net loss								0	0	0	(2,754)	0	66	(2,688)
Foreign currency translation adjustment								$ 0	0	0	0	(47)	0	(47)
Balance (in shares) at Dec. 31, 2021								7,075,506
Balance at Dec. 31, 2021								$ 7	61,813	2,598	(43,734)	1,082	0	21,766
Share-based compensation in exchange for services from employees and directors (in shares)								19,000
Share-based compensation in exchange for services from employees and directors								$ 0	64	0	0	0	0	64
Net loss								0	0	0	(9,791)	0	0	(9,791)
Foreign currency translation adjustment								$ 0	0	0	0	118	0	118
Share-based compensation in exchange for services from nonemployees (in shares)								80,000
Share-based compensation in exchange for services from nonemployees								$ 0	140	0	0	0	0	140
Balance (in shares) at Dec. 31, 2022								7,174,506
Balance at Dec. 31, 2022								$ 7	$ 62,017	$ 2,598	$ (53,525)	$ 1,200	$ 0	$ 12,297

Note 9 - Long-term Investments (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Other Investments Not Readily Marketable [Table Text Block]

	Amount
	US$(’000)

Balance as of January 1, 2021		67
Exchange translation adjustment		1
Cash investments during the year		2,250
Disposed during the year		(38	)
Balance as of December 31, 2021		2,280
Exchange translation adjustment		(88	)
Impairment losses provided during the year		(596	)
Balance as of December 31, 2022		1,596

Note 9 - Long-term Investments (Details Textual) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 CNY (¥)	Aug. 31, 2022 USD ($)	Aug. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Equity Securities without Readily Determinable Fair Value, Amount	$ 1,596					$ 2,280	$ 67
New Business Holdings Limited [Member]
Equity Securities without Readily Determinable Fair Value, Percent	15.38%
Guang Dong WeFriend Co., Ltd [Member]
Equity Securities without Readily Determinable Fair Value, Percent	10.00%
Guangdong Yong Fu Xiang Health Management Co., Ltd (Yong Fu Xiang) [Member]
Equity Securities without Readily Determinable Fair Value, Percent	9.90%			9.90%	9.90%
Equity Securities without Readily Determinable Fair Value, Amount				$ 970	¥ 6,730
Guangzhou Yuan Qi Man Man Technology Co., Ltd. (Yuan Qi Man Man) [Member]
Equity Securities without Readily Determinable Fair Value, Percent	9.00%	9.00%	9.00%
Equity Securities without Readily Determinable Fair Value, Amount		$ 10	¥ 90
Business Opportunity Chain [Member]
Equity Securities without Readily Determinable Fair Value, Percent	19.00%
Shenzhen Global Best Products, Gong Xiang Technology, and Xiao Peng Education [Member]
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount	$ 600

Note 2 - Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Variable Interest Entities [Table Text Block]

	As of December 31,
	2022		2021
	US$(’000)		US$(’000)
Assets
Current assets:
Cash and cash equivalents	$	578	$	181
Accounts receivable, net		1,745		2,796
Prepayment and deposit to suppliers		2,020		5,287
Due from related parties, net		-		90
Other current assets		2		4
Total current assets		4,345		8,358

Long-term investments, net		165		496
Operating lease right-of-use assets		145		21
Property and equipment, net		113		168
Deferred tax assets		406		441
Total Assets	$	5,174	$	9,484

Liabilities
Current liabilities:
Accounts payable	$	205	$	1,119
Advances from customers		515		1,113
Accrued payroll and other accruals		63		83
Taxes payable		2,602		2,849
Operating lease liabilities		146		9
Lease payment liabilities related to short-term leases		101		110
Other current liabilities		320		53
Total current liabilities		3,952		5,336

Operating lease liabilities-Non current		-		10
Total Liabilities	$	3,952	$	5,346

Financial Performance of VIEs [Table Text Block]

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)

Revenues	$	24,188	$	42,136
Cost of revenues		25,599		45,730
Total operating expenses		3,117		1,409
Net loss before allocation to noncontrolling interests		4,873		5,182

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Note 23 - Share-based Compensation Expenses (Details Textual) $ / shares in Units, shares in Thousands, $ in Thousands		1 Months Ended				12 Months Ended
	Jan. 18, 2023	Jun. 30, 2022 USD ($) $ / shares shares	Mar. 31, 2022 shares	May 31, 2021 $ / shares shares	Mar. 31, 2021 $ / shares shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Share-Based Payment Arrangement, Expense						$ 186	$ 7,028
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total						60
Subsequent Event [Member] \| Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5
Restricted Stock [Member]
Share-Based Payment Arrangement, Expense						40	240
Executive Officer [Member] \| Restricted Stock [Member] \| The 2020 Omnibus Securities and Incentive Plan, Second Issuance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) \| shares			19
Share-Based Payment Arrangement, Expense						60
Management Consulting and Advisory Service Providers [Member] \| Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) \| shares		80
Share-Based Payment Arrangement, Expense						$ 80
Shares Issued, Price Per Share (in dollars per share) \| $ / shares		$ 1.75
Issuance of Stock and Warrants for Services or Claims		$ 140
Management and Employees [Member] \| Restricted Stock [Member] \| The 2020 Omnibus Securities and Incentive Plan, Second Issuance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) \| shares				797
Share-Based Payment Arrangement, Expense							6,660
Shares Issued, Price Per Share (in dollars per share) \| $ / shares				$ 8.35
Independent Director [Member] \| Restricted Stock [Member] \| The 2020 Omnibus Securities and Incentive Plan, Second Issuance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) \| shares					6
Share-Based Payment Arrangement, Expense							$ 90
Shares Issued, Price Per Share (in dollars per share) \| $ / shares					$ 15.65

Consolidated Statements of Cash Flows (Parentheticals) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Issuance of common stock, cost	$ 1.6

Note 6 - Prepayments and Deposit to Suppliers - Prepayments and Deposit to Suppliers (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Prepayment and deposit to suppliers	$ 4,567	$ 7,559
Deposits to TV Ad and Internet Ad Resources Providers [Member]
Prepayment and deposit to suppliers	1,077	934
Prepayment to TV Ad and Internet Ad Resources Providers [Member]
Prepayment and deposit to suppliers	3,036	5,185
Deposits and Prepayments for Potential Investing Contracts [Member]
Prepayment and deposit to suppliers	0	1,000
Other Deposits and Prepayments [Member]
Prepayment and deposit to suppliers	$ 454	$ 440

Note 23 - Share-based Compensation Expenses - Share-based Compensation Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation expenses	$ 186	$ 7,028
Selling and Marketing Expense [Member]
Share-based Compensation expenses		0
General and Administrative Expense [Member]
Share-based Compensation expenses	$ 186	7,028
Research and Development Expense [Member]
Share-based Compensation expenses		$ 0

Note 21 - Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Internet Ad. and data service			Ecommerce O2O Ad and marketing services			Blockchain technology			Corporate			Inter- segment and reconciling item			Total
	US$(’000)			US$(’000)			US$(’000)			US$(’000)			US$(’000)			US$(’000)

Revenues		25,810			-			425			-			-			26,235
Cost of revenues		26,093			-			336			-			-			26,429
Total operating expenses		3,072			1,764			2,376			3,713	⁽¹⁾		-			10,925
Depreciation and amortization expenses included in cost of revenues and operating expenses		366			300			1,465			84			-			2,215
Impairment on intangible assets included in operating expenses		-			875			1,248			-			-			2,123
Loss from operations		(3,355	)		(1,764	)		(2,287	)		(3,713	)		-			(11,119	)

Impairment on long-term investments		76			-			-			520			-			596

Change in fair value of warrant liabilities		-			-			-			1,854			-			1,854

Net loss		(3,485	)		(1,764	)		(2,288	)		(2,254	)		-			(9,791	)

Total assets-December 31, 2022		10,385			156			1,682			39,136			(31,701	)		19,658

	Internet Ad. and data service			Ecommerce O2O Ad and marketing services			Blockchain technology			Corporate			Inter- segment and reconciling item			Total
	US$(’000)			US$(’000)			US$(’000)			US$(’000)			US$(’000)			US$(’000)

Revenues		46,666			662			-			-			-			47,328
Cost of revenues		45,730			1,500			-			-			-			47,230
Total operating expenses		1,423			2,529			2			9,734	⁽¹⁾		-			13,688
Depreciation and amortization expenses included in cost of revenues and operating expenses		313			300			1			18			-			632
Loss from operations		(487	)		(3,367	)		(2	)		(9,734	)		-			(13,590	)

Change in fair value of warrant liabilities		-			-			-			11,329			-			11,329

Net (loss)/income		(309	)		(3,366	)		(3	)		990			-			(2,688	)

Expenditure for long-term assets		1,214			-			-			280			-			1,494

Total assets-December 31, 2021		12,150			2,236			4,414			44,328			(30,497	)		32,631

Note 21 - Segment Reporting

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

21.

Segment reporting

The Company follows ASC Topic 280 “Segment Reporting”, which requires that companies disclose segment data based on how management makes decisions about allocating resources to segments and evaluating their performance. Reportable operating segments include components of an entity about which separate financial information is available and which operating results are regularly reviewed by the chief operating decision maker (“CODM”), the Company’s Chief Executive Officer, to make decisions about resources to be allocated to the segment and assess each operating segment’s performance.

For the Year Ended December 31, 2022

	Internet Ad. and data service			Ecommerce O2O Ad and marketing services			Blockchain technology			Corporate			Inter- segment and reconciling item			Total
	US$(’000)			US$(’000)			US$(’000)			US$(’000)			US$(’000)			US$(’000)

Revenues		25,810			-			425			-			-			26,235
Cost of revenues		26,093			-			336			-			-			26,429
Total operating expenses		3,072			1,764			2,376			3,713	⁽¹⁾		-			10,925
Depreciation and amortization expenses included in cost of revenues and operating expenses		366			300			1,465			84			-			2,215
Impairment on intangible assets included in operating expenses		-			875			1,248			-			-			2,123
Loss from operations		(3,355	)		(1,764	)		(2,287	)		(3,713	)		-			(11,119	)

Impairment on long-term investments		76			-			-			520			-			596

Change in fair value of warrant liabilities		-			-			-			1,854			-			1,854

Net loss		(3,485	)		(1,764	)		(2,288	)		(2,254	)		-			(9,791	)

Total assets-December 31, 2022		10,385			156			1,682			39,136			(31,701	)		19,658

(1) Including approximately US$0.19 million share-based compensation expenses.

For the Year Ended December 31, 2021

Internet Ad.

and data service

Ecommerce
O2O Ad and
marketing
services

Blockchain technology

Corporate

Inter- segment and reconciling item

Total

US$(’000)

US$(’000)

US$(’000)

US$(’000)

US$(’000)

US$(’000)

Revenues
46,666 662 - - - 47,328

Cost of revenues
45,730 1,500 - - - 47,230

Total operating expenses
1,423 2,529 2 9,734 ⁽¹⁾ - 13,688

Depreciation and amortization expenses included in cost of revenues and operating expenses
313 300 1 18 - 632

Loss from operations
(487 ) (3,367 ) (2 ) (9,734 ) - (13,590 )

Change in fair value of warrant liabilities
- - - 11,329 - 11,329

Net (loss)/income
(309 ) (3,366 ) (3 ) 990 - (2,688 )

Expenditure for long-term assets
1,214 - - 280 - 1,494

Total assets-December 31, 2021
12,150 2,236 4,414 44,328 (30,497 ) 32,631

(1) Including approximately US$7.03 million share-based compensation expenses.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Note 5 - Accounts Receivable, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss, Current	$ 3,760	$ 2,236
Accounts Receivable, Credit Loss Expense (Reversal)	2,394	0
Internet Advertising and TV Advertising [Member]
Accounts Receivable, Allowance for Credit Loss, Current	$ 3,760
Number of Months Past Due (Month)	6 months
Accounts Receivable, Credit Loss Expense (Reversal)	$ 1,760	1,760
Internet Advertising And TV Advertising Contractual Deposit [Member]
Accounts Receivable, Allowance for Credit Loss, Current		$ 2,240

Note 22 - (Loss) Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Net loss attributable to ZW Data Action Technologies Inc. (numerator for basic and diluted loss per share)

$ (9,791)

$ (2,754)

Weighted average number of common shares outstanding – Basic and diluted ** (in shares)

7,136,290

6,618,754

Loss per share -Basic and diluted ** (in dollars per share)

^[1]

$ (1.37)

$ (0.42)

[1]	Retrospectively restated for effect of the 1-for-5 reverse stock split on January 18, 2023, see Note 4(l).

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
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-Name Accounting Standards Codification
-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Note 11 - Intangible Assets, Net - Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finite-lived intangible assets	$ 9,690	$ 9,856
Finite-lived intangible assets, Accumulated amortization	(3,902)	(1,887)
Finite-lived intangible assets, Impairment	(2,524)	(446)
Intangible assets, net	3,264	7,523
Finite-lived intangible assets, Impairment	2,524	446
Finite-lived intangible assets, Accumulated amortization	3,902	1,887
Cloud-Computing Based Software Platforms [Member]
Finite-lived intangible assets	1,333	1,456
Finite-lived intangible assets, Accumulated amortization	(924)	(1,010)
Finite-lived intangible assets, Impairment	(409)	446
Intangible assets, net	0	0
Finite-lived intangible assets, Impairment	409	(446)
Finite-lived intangible assets, Accumulated amortization	924	1,010
Licensing Agreements [Member]
Finite-lived intangible assets	1,201	1,205
Finite-lived intangible assets, Accumulated amortization	(374)	(255)
Intangible assets, net	827	950
Finite-lived intangible assets, Accumulated amortization	374	255
Internet Ad Tracking System [Member]
Finite-lived intangible assets	1,160	1,158
Finite-lived intangible assets, Accumulated amortization	(405)	(174)
Intangible assets, net	755	984
Finite-lived intangible assets, Accumulated amortization	405	174
Livestreaming Technology [Member]
Finite-lived intangible assets	1,500	1,500
Finite-lived intangible assets, Accumulated amortization	(625)	(325)
Finite-lived intangible assets, Impairment	(875)
Intangible assets, net	0	1,175
Finite-lived intangible assets, Impairment	875
Finite-lived intangible assets, Accumulated amortization	625	325
Blockchain Integrated Framework Platform [Member]
Finite-lived intangible assets	4,038	4,038
Finite-lived intangible assets, Accumulated amortization	(1,346)	0
Finite-lived intangible assets, Impairment	(1,010)
Intangible assets, net	1,682	4,038
Finite-lived intangible assets, Impairment	1,010
Finite-lived intangible assets, Accumulated amortization	1,346	0
Bo!News Application [Member]
Finite-lived intangible assets	345	376
Finite-lived intangible assets, Accumulated amortization	(115)	0
Finite-lived intangible assets, Impairment	(230)
Intangible assets, net	0	376
Finite-lived intangible assets, Impairment	230
Finite-lived intangible assets, Accumulated amortization	115	0
Other Computer Software [Member]
Finite-lived intangible assets	113	123
Finite-lived intangible assets, Accumulated amortization	(113)	(123)
Intangible assets, net	0	0
Finite-lived intangible assets, Accumulated amortization	$ 113	$ 123

Note 11 - Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Finite and Indefinite-Lived Intangible Assets [Table Text Block]

	As of December 31, 2022
Items	Gross Carrying Value		Accumulated Amortization			Impairment			Net Carrying Value
	US$(’000)		US$(’000)			US$(’000)			US$(’000)
Intangible assets subject to amortization:
--10 years life:
Cloud compute software technology		1,333		(924	)		(409	)		-
Licensed products use right		1,201		(374	)		-			827

--5 years life:
Internet Ad tracking system		1,160		(405	)		-			755
Live streaming technology		1,500		(625	)		(875	)		-

--3 years life:
Blockchain Integrated Framework		4,038		(1,346	)		(1,010	)		1,682
Bo!News application		345		(115	)		(230	)		-
Other computer software		113		(113	)		-			-
Total	$	9,690	$	(3,902	)	$	(2,524	)	$	3,264

	As of December 31, 2021
Items	Gross Carrying Value		Accumulated Amortization			Impairment			Net Carrying Value
	US$(’000)		US$(’000)			US$(’000)			US$(’000)
Intangible assets subject to amortization:
--10 years life:
Cloud compute software technology		1,456		(1,010	)		(446	)		-
Licensed products use right		1,205		(255	)		-			950

--5 years life:
Internet Ad tracking system		1,158		(174	)		-			984
Live streaming technology		1,500		(325	)		-			1,175

--3 years life:
Blockchain Integrated Framework		4,038		-			-			4,038
Bo!News application		376		-			-			376
Other computer software		123		(123	)		-			-
Total	$	9,856	$	(1,887	)	$	(446	)	$	7,523

Note 16 - The Financing and Warrant Liabilities (Details Textual) $ / shares in Units, $ in Thousands				12 Months Ended
	Jan. 18, 2023	Jul. 02, 2021 USD ($) shares	Feb. 18, 2021 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2020 USD ($)	Dec. 14, 2020
Warrants and Rights Outstanding				$ 2,039	$ 185	$ 1,505
Subsequent Event [Member] \| Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5
Investor Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) \| shares			521,200
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) \| $ / shares			$ 17.95
Placement Agent Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) \| shares			72,968
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) \| $ / shares			$ 22.4375
Warrants and Rights Outstanding			$ 1,450
Stock Issued During Period, Shares, Cashless Warrants Exercised (in shares) \| shares		8,000.000
Placement Agent Warrants [Member] \| Other Nonoperating Income (Expense) [Member]
Gain (Loss), Exercise of Cashless Warrants		$ (20)
The Warrants [Member] \| Minimum [Member]
Class of Warrant or Right, Beneficial Ownership Percentage							4.99%
The Warrants [Member] \| Maximum [Member]
Class of Warrant or Right, Beneficial Ownership Percentage							9.99%
Private Placement [Member]
Stock Issued During Period, Shares, New Issues (in shares) \| shares			1,042,400
Shares Issued, Price Per Share (in dollars per share) \| $ / shares			$ 17.95
Proceeds from Issuance or Sale of Equity, Total			$ 18,700	18,711
Sale of Equity, Placement Fee, Percent			7.00%
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs			$ 3,050
Placement Agent Fee			1,310
Stock Issuance Costs, Other Offering Costs			$ 290
Private Placement [Member] \| Investor Warrants [Member]
Warrants and Rights Outstanding				$ 10,476

Note 16 - The Financing and Warrant Liabilities - Warrant Liabilities (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Jul. 02, 2021

Feb. 18, 2021

^[1]

Dec. 31, 2020

Proceeds allocated to warrant liabilities

$ 185

$ 2,039

$ 1,505

Change in fair value of warrants

(1,854)

(11,329)

Change in fair value of warrant liabilities

1,854

11,329

Investor Warrants Issued in Connection with 2021 Financing [Member]

Proceeds allocated to warrant liabilities

964

$ 10,476

Change in fair value of warrants

(878)

(9,512)

Change in fair value of warrant liabilities

878

9,512

Placement Agent Warrants Issued in Connection with 2021 Financing [Member]

Proceeds allocated to warrant liabilities

132

$ 1,445

Change in fair value of warrants

(123)

(1,313)

Change in fair value of warrant liabilities

123

1,313

Investor Warrants Issued in Connection with 2020 Financing [Member]

Proceeds allocated to warrant liabilities

795

1,279

Change in fair value of warrants

(719)

(484)

Change in fair value of warrant liabilities

719

484

Placement Agent Warrants Issued in Connection with 2020 Financing [Member]

Proceeds allocated to warrant liabilities

148

224

Change in fair value of warrants

(134)

(76)

Change in fair value of warrant liabilities

$ 134

Placement Agent Warrants Issued in Connection with 2018 Financing [Member]

Proceeds allocated to warrant liabilities

$ 58

$ 2

Change in fair value of warrants

Change in fair value of warrant liabilities

$ (56)

[1]	Closing date of the 2021 Financing.

Note 20 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

20.

Commitments and contingencies

The Company may from time to time become a party to various legal or administrative proceedings arising in its ordinary course of business. The Company evaluates the status of each legal matter and assesses the potential financial exposure. If the potential loss from any legal proceedings or litigation is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. Significant judgment is required to determine the probability of a loss and whether the amount of the loss is reasonably estimated. As of the date hereof, based on the information currently available, the Company believes that the loss contingencies that may arise as a result of currently pending legal proceedings are not reasonably likely to have a material adverse effect on the Company’s business, results of operations, financial condition, and cash flows.

Note 4 - Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Significant Accounting Policies [Text Block]

4.	Summary of significant accounting policies

Basis of presentation

The consolidated financial statements are prepared and presented in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).

b)

Principles of consolidation

The consolidated financial statements include the accounts of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation.

c)

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates.

d)

Foreign currency translation and transactions

The Company conducts substantially all of its operations through its PRC operating subsidiaries and VIEs, PRC is the primary economic environment in which the Company operates. For financial reporting purposes, the financial statements of the Company’s PRC operating subsidiaries and VIEs, which are prepared using the functional currency of the PRC, Renminbi (“RMB”), are translated into the Company’s reporting currency, the United States Dollar (“U.S. dollar”). Assets and liabilities are translated using the exchange rate at each balance sheet date. Revenue and expenses are translated using average rates prevailing during each reporting period, and stockholders’ equity is translated at historical exchange rates. Adjustments resulting from the translation are recorded as a separate component of accumulated other comprehensive income in stockholders’ equity.

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transactions. The resulting exchange differences are included in the determination of net loss of the consolidated statements of operations and comprehensive loss for the respective periods.

The exchange rates used to translate amounts in RMB into US$ for the purposes of preparing the consolidated financial statements are as follows:

	As of December 31,
	2022		2021

Balance sheet items, except for equity accounts		6.9646		6.3757

	Year Ended December 31,
	2022		2021

Items in the statements of operations and comprehensive loss		6.7261		6.4515

No representation is made that the RMB amounts could have been or could be converted into US$ at the above rates.

e)

Cash and cash equivalents

Cash and cash equivalents consist of cash on hand and bank deposits. The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents.

The Company’s cash is held in accounts at major financial institutions located in the U.S. and the PRC. As of December 31, 2022, US$1.66 million of the Company’s cash was held in accounts at financial institutions located in the U.S., and the remaining US$2.73 million was held in the accounts at financial institutions located in the PRC. The Company believes that these financial institutions are of high credit quality, all of which have participated in the federal/national deposit insurance scheme of their respective jurisdiction. The Company’s cash held in accounts at the financial institutions in the U.S. are insured by the Federal Deposit Insurance Corporation (FDIC) for up to US$0.25 million per depositor per insured bank and the cash held in accounts at the financial institutions in the PRC are insured by the Deposit Insurance Capital Corporation (DICC), a wholly-owned subsidiary of the People’s Bank of China, for up to RMB0.50 million per depositor per insured bank. The Company, its subsidiaries, VIEs and VIEs’ subsidiaries have not experienced any losses in such accounts in the U.S. and the PRC and do not believe their cash is exposed to any significant risk.

The cash held in accounts at the financial institutions in the PRC is in Renminbi. Renminbi is not freely convertible into other currencies. The Chinese government imposes controls on the convertibility of Renminbi into foreign currencies and, in certain cases, the remittance of currency out of China. Renminbi is currently convertible under the “current account,” which includes dividends, trade and service-related foreign exchange transactions, but not under the “capital account,” which includes foreign direct investment and foreign debt. Currently, our PRC subsidiaries may purchase foreign currency for settlement of current account transactions, including payment of dividends to us, without the approval of the State Administration of Foreign Exchange of China (the “SAFE”) by complying with certain procedural requirements. However, the relevant Chinese governmental authorities may limit or eliminate our ability to purchase foreign currencies in the future for current account transactions. The Chinese government may continue to strengthen its capital controls, and additional restrictions and substantial vetting processes may be instituted by the SAFE for cross-border transactions falling under both the current account and the capital account. Foreign exchange transactions under the capital account remain subject to limitations and require approvals from, or registration with, the SAFE and other relevant Chinese governmental authorities. There is no restriction for the Company to transfer its cash held in accounts at the financial institutions located in the U.S. outside the border of the U.S.

The Company is a Nevada holding company with operations primarily conducted in China through its PRC subsidiaries, VIEs and VIEs’ subsidiaries. The intercompany flow of funds within its organization is effected through capital contributions and intercompany loans, which requires prior approval by the delegated executive officers before execution.

The Company has transferred, and intends to continue to transfer, most of its cash raised from the U.S. stock market to its PRC operating entities to support their operations and expansions. The Company’s ability to pay dividends to U.S. investors may depend on receiving dividends or other distributions from its PRC subsidiaries and settlement of the amounts owed under the VIE agreements from the consolidated VIEs. The Company does not have any present plan to demand the consolidated VIEs to settle their amounts owed under the VIE agreements, or make any distribution of earnings or issue any dividends directly or indirectly to the Nevada holding company. In addition, the Company also currently does not have any plan to pay any cash dividends on its common stock in the foreseeable future.

For the year ended December 31, 2022, the Company did not transfer any cash to its operating subsidiaries. One of the Company’s subsidiaries paid US$0.48 million operating expenses in cash on behalf of the Company to the service providers, as a repayment of shareholder loans provided by the Company to this subsidiary in previous years. For the year ended December 31, 2021, the Company transferred aggregately US$16.33 million cash to its operating subsidiaries to support their business operations and expansions, of which US$5.0 million was transferred in form of capital contributions and US$11.33 million was transferred in form of shareholder loans, of which a US$2.0 million loan was subsequently converted to capital contribution during 2022.

For the years ended December 31, 2022 and 2021, the Company’s operating subsidiaries transferred US$0.34 million and US$4.25 million cash to the consolidated VIEs in form of loans, respectively.

For the years ended December 31, 2022 and 2021, the Company’s PRC subsidiaries, the VIEs, and VIE’s subsidiaries did not transfer any cash outside of the PRC.

f)

Accounts receivable, net

Accounts receivable are recorded at net realizable value consisting of the carrying amount less an allowance for uncollectible accounts as needed. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company determines the allowance based on aging data, historical collection experience, customer specific facts and economic conditions. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company did not have any off-balance-sheet credit exposure relating to its customers, suppliers or others. For the year ended December 31, 2022, the Company recorded approximately US$1.76 million of allowance for doubtful accounts against its accounts receivable. For the year ended December 31, 2021, the Company did not provide any allowance for doubtful accounts against its accounts receivable.

g)

Long-term investments

The Company’s investments in equity securities and other ownership interests (except those accounted for under the equity method of accounting or those that resulted in consolidation of the investee), i.e. investments in investee companies that are not consolidated, and over which the Company does not exercise significant influence, are accounted for in accordance with ASC Topic 321: “Investments-Equity securities”. The Company generally owns less than 20% interest in the voting securities of these investee companies. In accordance with ASC 321-10-35-2, the Company chooses to measure these investments which do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the Company and records the carrying value of these investments as “Long-term investments” in the Company’s consolidated balance sheets.

In accordance with ASC 321-10-35-3, the Company writes down the carrying value of these investments to its fair value if a qualitative assessment indicates that the investment is impaired, and the fair value of the investment is less than its carrying value, as determined using the guidance in ASC 321-10-35-2.

For the year ended December 31, 2022, the Company recorded approximately US$0.60 million impairment loss associated with its long-term investments. For the year ended December 31, 2021, the Company did not record any impairment loss associated with its long-term investments.

h)

Property and equipment, net

Property and equipment are recorded at cost less accumulated depreciation/amortization. Depreciation/amortization is calculated on the straight-line method after taking into account their respective estimated residual values over the following estimated useful lives:

Leasehold improvements (years)	3
Vehicles (years)	5
Office equipment (years)	3	-	5
Electronic devices (years)	5

Depreciation/amortization expenses of fixed assets are included in sales and marketing expenses, general and administrative expenses and research and development expenses. Leasehold improvements are amortized over the lesser of the lease term or estimated useful life.

When property and equipment are retired or otherwise disposed of, resulting gain or loss is included in net income or loss in the period of disposition. Maintenance and repairs which do not improve or extend the expected useful lives of the assets are charged to expenses as incurred, whereas the cost of renewals and betterments that extend the useful life of the assets are capitalized as additions to the related assets.

i)

Intangible assets, net

The Company accounted for cost related to internal-used software in accordance with ASC Topic 350-40 “Intangibles-Goodwill and Other-Internal-Use Software”. Internal-use software is initially recorded at cost and amortized on a straight-line basis over the estimated useful economic life of 3 to 10 years.

j)

Impairment of long-lived assets

In accordance with ASC 360-10-35, long-lived assets, which include tangible long-lived assets and intangible long-lived assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount of the asset and its fair value.

For the year ended December 31, 2022, the Company recorded aggregately US$2.12 million impairment loss associated with its intangible assets. For the year ended December 31, 2021, the Company did not record any impairment loss associated with its long-lived assets.

k)

Fair value

The Company’s financial instruments primarily consist of cash and cash equivalents, accounts receivable, short-term loans to unrelated parties and accounts payable. The carrying values of these financial instruments approximate fair values due to their short maturities.

ASC Topic 820 "Fair Value Measurement and Disclosures," defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy which requires classification based on observable and unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter.

Liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2022 and 2021 is as follows:

Fair value measurement at reporting date using

As of

December 31, 2022

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

Warrant liabilities

185

Fair value measurement at reporting date using

As of

December 31, 2021

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

Warrant liabilities

2,039

Significant unobservable inputs utilized to determine the fair value of the Company’s warrant liabilities was disclosed in Note 16.

l)

Reverse stock split

When the Reverse Stock Split became effective, each five shares of issued and outstanding Common Stock were automatically converted into one newly issued and outstanding share of Common Stock. No fractional shares were issued in connection with the Reverse Stock Split. Any fractional shares of Common Stock that would have otherwise resulted from the Reverse Stock Split were rounded up to the nearest full share. No cash or other consideration was paid in connection with any fractional shares that would otherwise have resulted from the Reverse Stock Split.

As a result of the Reverse Stock Split, 35,827,677 shares of Common Stock that were issued and outstanding at January 18, 2023 was reduced to 7,174,506 shares of Common Stock (taking into account the rounding of fractional shares).

Except where otherwise specified, all number of shares, number of warrants, share prices, exercise prices and per share data in the consolidated financial statements and notes to the consolidated financial statements have been retroactively restated as if the Reverse Stock Split occurred at the beginning of the periods presented.

m)

Revenue recognition

In accordance with ASC Topic 606, revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. In determining when and how much revenue is recognized from contracts with customers, the Company performs the following five-step analysis: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; (5) recognize revenue when (or as) the entity satisfies a performance obligation.

Multiple performance obligations included in the Company’s contracts with customers are neither capable of being distinct, that is, can benefit the customer on its own or together with other readily available resources, nor is distinct within the context of the contract, that is, the promise to transfer the service separately identifiable from other promises in the contract.

The Company’s contract with customers do not include significant financing component and any variable consideration.

Advance from customers related to unsatisfied performance obligations are generally refundable. Refund of advance from customers was insignificant for both the years ended December 31, 2022 and 2021.

The Company does not believe that significant management judgements are involved in revenue recognition, but the amount and timing of the Company’s revenues could be different for any period if management made different judgments or utilized different estimates. Generally, the Company recognizes revenue under ASC Topic 606 for each type of its performance obligation either over time or at a point in time as follows:

Distribution of the right to use search engine marketing service

Revenue from distribution of the right to use search engine marketing service is recognized on a monthly basis based on the direct cost consumed through search engines for providing such services with a premium (“over time”). The Company recognizes the revenue on a gross basis, because the Company determines that it is a principal in the transaction who control the goods or services before they are transferred to the customers.

Online advertising placement service/ecommerce advertising placement service

For online advertising placement service contracts and other ecommerce advertising placement service contracts that are established based on a fixed price scheme with the related advertisement placements obligation, the Company provides advertisement placements in specified locations on the Company’s advertising portals for agreed periods and/or place the advertisements onto the Company’s purchased advertisement time on specific outdoor billboards for agreed periods. Revenue is recognized ratably over the period the advertisement is placed and, as such, the Company considers the services to have been delivered (“over time”).

Blockchain-based SaaS services

The Company develops blockchain enabled web/mobile applications and provides Software-as-a-Service (“SaaS”) services for clients. Fixed periodical subscription fee revenues for the use of the Company’s Blockchain Integrated Framework (“BIF”) platform are recognized ratably on a monthly basis over the period of the subscription service (“over time”). Revenues related to the Non-fungible Token (“NFT”) generation service provided through the BIF platform are recognized based on a fixed price per NFT generation, when a NFT is generated, delivered and accepted by customers (“point in time”).

The following tables present the Company’s revenues disaggregated by products and services and timing of revenue recognition:

Year Ended December 31,

2022

2021

US$(’000)

US$(’000)

Internet advertising and related service

--distribution of the right to use search engine marketing service
22,262 39,224

--online advertising placements
3,548 7,442

Ecommerce O2O advertising and marketing services
- 662

Blockchain-based SaaS services
425 -

Total revenues
$ 26,235 $ 47,328

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)

Revenue recognized over time		25,835		47,328
Revenue recognized at a point in time		400		-
Total revenues	$	26,235	$	47,328

Contract costs

For the years ended December 31, 2022 and 2021, the Company did not have any significant incremental costs of obtaining contracts with customers incurred and/or costs incurred in fulfilling contracts with customers, that shall be recognized as an asset and amortized to expenses in a pattern that matches the timing of the revenue recognition of the related contract.

Contract balances

The Company evaluates overall economic conditions, its working capital status and customer specific credit and negotiates the payment terms of a contract with individual customer on a case-by-case basis in its normal course of business.

Advances received from customers related to unsatisfied performance obligations are recoded as contract liabilities (advance from customers), which will be realized as revenues upon the satisfaction of performance obligations through the transfer of related promised goods and services to customers.

For contracts without a full or any advance payments required, the Company bills the customers any unpaid contract price immediately upon satisfaction of the related performance obligations when revenue is recognized.

The Company does not have any contract assets (unbilled receivables) since revenue is recognized when control of the promised goods or services is transferred and the payment from customers is not contingent on a future event.

The Company’s contract liabilities primarily consist of advance from customers related to unsatisfied performance obligations in relation to online advertising placement service and distribution of the right to use search engine marketing service. All contract liabilities are expected to be recognized as revenue within one year. The table below summarized the movement of the Company’s contract liabilities for the two years ended December 31, 2022:

	Contract liabilities
	US$(’000)

Balance as of January 1, 2021		1,436
Exchange translation adjustment		34
Revenue recognized from beginning contract liability balance		(1,390	)
Advances received from customers related to unsatisfied performance obligations		1,165
Balance as of December 31, 2021		1,245
Exchange translation adjustment		(105	)
Revenue recognized from beginning contract liability balance		(1,104	)
Advances received from customers related to unsatisfied performance obligations		703
Balance as of December 31, 2022		739

For the years ended December 31, 2022 and 2021, there is no revenue recognized from performance obligations that were satisfied in prior periods.

Transaction price allocated to remaining performance obligation

The Company has elected to apply the practical expedient in paragraph ASC Topic 606-10-50-14 and did not disclose the information related to transaction price allocated to the performance obligations that are unsatisfied or partially unsatisfied as of December 31, 2022 and 2021, because all performance obligations of the Company’s contracts with customers have an original expected duration of one year or less.

n)

Cost of revenues

Cost of revenues primarily includes the cost of Internet and other forms of advertising resources and related technical services purchased from third parties, amortization of software platform development cost and other direct cost associated with providing services.

o)

Research and development expenses

The Company accounts for expenses for the enhancement, maintenance and technical support to the Company’s Internet platforms and intellectual properties that are used in its daily operations in research and development expenses. Research and development costs are charged to expense when incurred. Expenses for research and development for the years ended December 31, 2022 and 2021 were approximately US$0.23 million and US$0.33 million, respectively.

p)

Lease

The Company leases office spaces from unrelated parties in its normal course of business. Other than these office spaces lease contracts, the Company does not have any other contract that is or contains a lease under ASC Topic 842.

The Company’s lease contracts do not contain any option for the Company to extend or terminate the lease, and do not contain the option for the Company to purchase the underlying assets. Based on the noncancelable lease period in the contract, the Company considers contract-based, asset-based, market-based and entity-based factors to determine the term over which it is reasonably certain to extend the lease, and then determine the lease term of each contract, which is 1-8 years. The Company’s lease contracts only contain fixed lease payments and do not contain any residual value guarantee.

The Company’s office lease contracts do not contain any nonlease component and are classified as operating leases in accordance with ASC Topic 842-10-25-3.

For lease contracts with a duration of twelve months or less and thus met the definition of a short-term lease under ASC 842, the Company, in accordance with ASC 842-20-25-2, elected not to apply the recognition requirements (i.e. not to recognize right-of-use asset and related lease liability) to these short-term leases. Instead, the Company recognized the lease payments of these short-term leases in its consolidated statements of operations and comprehensive loss on a straight-line basis over the lease term. As of December 31, 2022 and 2021, lease payments liability related to these short-term leases was approximately US$0.10 million and US$0.15 million, respectively.

For lease contracts with a duration of over twelve months, as the implicit rates of the Company leases cannot be readily determined, in accordance with ASC Topic 842-20-30-3, the Company used its incremental borrowing rate as the discount rate to determine the present value of the lease payments for each lease contract. The Company’s incremental borrowing rate was determined based on the interest rate expected to be used by the commercial banks in the PRC for long-term loans with the same maturity terms as the respective lease contracts at lease inception, if lent to the Company on a collateralized basis.

As of December 31, 2022, operating lease right-of-use assets and total operating lease liabilities recognized was approximately US$1.76 million and US$1.88 million, respectively.

Maturity of operating lease liabilities

	Operating leases
	US$(’000)
Year ending December 31,
-2023		447
-2024		313
-2025		328
-2026		345
-2027		362
-thereafter		444
Total undiscounted lease payments		2,239
Less: imputed interest		(357	)
Operating lease liabilities as of December 31, 2022	$	1,882

Including:
Operating lease liabilities		347
Operating lease liabilities-Non current		1,535
	$	1,882

As of December 31, 2021, operating lease right-of-use assets and total operating lease liabilities recognized was approximately US$2.02 million and US$2.11 million, respectively.

Operating lease expenses:

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)

Long-term operating lease contracts		459		302
Short-term operating lease contracts		48		60
Total		507		362

Supplemental information related to operating leases:

	Year Ended December 31,
	2022			2021

Operating cash flows used for operating leases (US$’000)		361			210
Right-of-use assets obtained in exchange for new lease liabilities (US$’000)		252			2,186
Weighted-average remaining lease term (years)		5.75			7.12
Weighted-average discount rate		6	%		6	%

q)

Income taxes

The Company follows the guidance of ASC Topic 740 “Income taxes” and uses liability method to account for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets, if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized in statement of operations and comprehensive loss in the period that includes the enactment date.

r)

Uncertain tax positions

The Company follows the guidance of ASC Topic 740 “Income taxes”, which prescribes a more likely than not threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As a result, the impact of an uncertain income tax position is recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained.

The Company recognizes interest on non-payment of income taxes under requirement by tax law and penalties associated with tax positions when a tax position does not meet the minimum statutory threshold to avoid payment of penalties. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes. The tax returns of the Company and its subsidiaries and VIEs are subject to examination by the relevant local tax authorities. The statute of limitations related to these tax returns under different circumstances various from 3-10 years, and for PRC entities, there is no statute of limitation in the case of tax evasion. The Company did not have any material interest or penalties associated with tax positions for the years ended December 31, 2022 and 2021 and did not have any significant unrecognized uncertain tax positions as of December 31, 2022 or 2021.

s)

Share-based payment transactions

The Company adopts ASC Topic 718 “Compensation-Stock Compensation” to account for share-based payment transactions with both employees and nonemployees, which requires that share-based payment transactions be measured based on the grant-date fair value of the instrument issued, net of an estimated forfeiture rate, if applicable, and therefore only recognizes compensation expenses for those instruments expected to vest over the requisite service period, or vesting period. Forfeitures are estimated at the time of grant and revised in the subsequent periods if actual forfeitures differ from those estimates.

For fully vested, nonforfeitable equity instruments granted to a nonemployee service provider at the date upon entering into the agreement (no specific performance is required by the nonemployee to retain those equity instruments), because of the elimination of any obligation on the part of the nonemployee to earn the equity instruments, the Company recognizes the instruments when they are granted (in most cases, when the agreement is entered into), the corresponding cost is recorded as a prepayment on the balance sheet, and amortized as share-based compensation expenses over the requisite service period.

t)

Comprehensive income (loss)

The Company accounts for comprehensive income (loss) in accordance with ASC Topic 220 “Comprehensive Income”, which establishes standards for reporting and displaying comprehensive income (loss) and its components in the consolidated financial statements. Comprehensive income (loss) is defined as the change in equity of a company during a period from transactions and other events and circumstances excluding transactions resulting from investments from owners and distributions to owners. Accumulated other comprehensive income, as presented in the Company’s consolidated balance sheets are the cumulative foreign currency translation adjustments.

u)

Earnings (loss) per share

Earnings (loss) per share are calculated in accordance with ASC Topic 260, “Earnings Per Share”. Basic earnings (loss) per share is computed by dividing income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Common shares issuable upon the conversion of the convertible preferred shares are included in the computation of diluted earnings per share on an “if-converted” basis when the impact is dilutive. The dilutive effect of outstanding common stock warrants and options are reflected in the diluted earnings per share by application of the treasury stock method when the impact is dilutive.

v)

Commitments and contingencies

The Company adopts ASC Topic 450 “Contingencies” subtopic 20, in determining its accruals and disclosures with respect to loss contingencies. Accordingly, estimated losses from loss contingencies are accrued by a charge to income when information available before financial statements are issued or are available to be issued indicates that it is probable that an asset had been impaired, or a liability had been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred.

w)

Recent issued or adopted accounting standards

In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. The amendments in this ASU require the measurement and recognition of expected credit losses for financial assets held at amortized cost. The amendments in this ASU replace the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. In November 2018, the FASB issued ASU No. 2018-19, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses”, which among other things, clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. For public entities, the amendments in these ASUs are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. In November 2019, the FASB issued ASU No. 2019-10, “Financial Instruments-Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842)-Effective date”, which deferred the effective date of this ASU until fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, for SEC filers that are eligible to be smaller reporting companies under the SEC’s definition. The Company, as a SEC smaller reporting company, has adopted the amendments in this ASU from January 1, 2023. The adoption of this ASU did not have a material impact on the Company’s consolidated financial position and results of operations.

Note 23 - Share-based Compensation Expenses (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)

Sales and marketing expenses		-		-
General and administrative expenses		186		7,028
Research and development expenses		-		-
Total		186		7,028

Note 18 - Employee Defined Contribution Plan (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan, Cost	$ 220	$ 220

Note 8 - Other Current Assets, Net - Summary of Other Current Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Short-term loans to unrelated parties	$ 2,197	$ 1,646
Short-term loans interest receivables	22	0
Staff advances for business operations	8	11
Total other current assets	2,227	1,657
Allowance for doubtful accounts	(617)	0
Other current assets, net	$ 1,610	$ 1,657

Note 14 - Taxation - Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Current	$ 0	$ 0
Deferred	3	(177)
Effective income tax benefit/(expense)	$ 3	$ (177)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Note 9 - Long-term Investments - Summary of Long-term Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance	$ 2,280	$ 67
Exchange translation adjustment	(88)	1
Cash investments during the year		2,250
Disposed during the year		(38)
Impairment losses provided during the year	(596)
Balance	$ 1,596	$ 2,280

Note 6 - Prepayments and Deposit to Suppliers

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Prepayments and Deposits to Suppliers Disclosure [Text Block]

6.	Prepayments and deposit to suppliers

	As of December 31,
	2022		2021
	US$(’000)		US$(’000)

Deposits to advertising resources providers		1,077		934
Prepayments to advertising resources providers		3,036		5,185
Deposit for a potential investing contract		-		1,000
Other deposits and prepayments		454		440
		4,567		7,559

As of December 31, 2022 and 2021, contractual deposits were primarily paid to the Company’s major Internet advertising resources suppliers and other advertising resource suppliers. The contractual deposits will be refunded to the Company upon expiration of the contracts, which are generally for a one-year period.

According to the contracts signed between the Company and its suppliers, the Company is required to pay certain of the contract amounts in advance. These prepayments will be recognized as cost of revenues when the related services are delivered by the suppliers. As of December 31, 2022 and 2021, prepayments were primarily paid for purchasing Internet resources from the Company’s major Internet advertising resources suppliers.

Other deposits and prepayments as of December 31, 2022 and 2021 represented deposits and prepayments to the Company’s other services providers, which primarily included deposits for office lease contracts, prepayment for various kinds of professional services, etc.

As of December 31, 2021, deposit for a potential investing contract represented a US$1.0 million refundable deposit paid for a potential acquisition transaction, which had been refunded in December 2022 as there was no definitive agreement reached among the contract parties by the date as agreed upon.

Note 3 - Liquidity and Capital Resource and Going Concern Evaluation

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Liquidity and Management’s Plan, Policy [Policy Text Block]

3.	Liquidity and capital resource and going concern evaluation

For the years ended December 31, 2022 and 2021, the Company incurred a loss from operations of US$11.12 million and US$13.59 million, respectively. Net operating cash outflow for the years ended December 31, 2022 and 2021 was US$3.19 million and US$8.84 million, respectively. As of December 31, 2022, the Company had cash and cash equivalents of US$4.39 million and working capital of US$6.61 million.

The Company experienced temporary decreases in revenues, incurred a gross loss, and did not generate a positive net cash flow from its existing core business, i.e., Internet advertising and related data service business for the year ended December 31, 2022. This was primarily attributable to the repeated severe COVID-19 cases rebound in many provinces in China during fiscal 2022, and the strict zero-COVID policy adopted by the Chinese government to constrain the spread of the virus. The COVID-19 pandemic in China during fiscal 2022 resulted in regional large-scale quarantine and business shutdown, and further resulted in pandemic fears and in return severely affected the SMEs owners’ confidence to further expand their businesses, and thus adversely affected the SMEs owners’ demands on the Company’s online advertising and marketing services. As a result, the Company has been relying on proceeds generated from financing activities for its liquidity in fiscal 2022. In December 2022, after a severe lockdown in most parts of mainland China, the Chinese government ended its three-year zero-COVID policy, most of the travel restrictions and quarantine requirements were lifted accordingly. Although there remain uncertainties as to the future development and impact of the COVID-19 pandemic, the Company anticipates a slow recovery of performance and improvement of cash flow status of its core business in the next 12 months.

In order to improve operation performance, from early 2022, the Company started to introduce its new SaaS services to customers. The Company’s SaaS services are provided based on technologies of its self-developed Blockchain Integrated Framework (“BIF”) platform. The subscriptions of the Company’s BIF platform would enable its clients to utilize the BIF platform as an enterprise management software to record, share and storage operating data on-chain, and/or to generate unique designed Non-fungible Token (“NFTs”) for their IPs and certificates. Although the unexpected long-time quarantine and business shutdown measures for COVID-19 epidemic control incurred throughout fiscal 2022 adversely affected the Company’s promotion of the new SaaS services, and revenues from the new SaaS services business and its profitability have not met the Company’s expectations, it is still expected to bring the Company positive cash flow and help to improve liquidity, as these services are provided based on technologies of the Company’s self-developed software platform, which does not need any further material cash outflow to other third-party service providers.

In addition, to further improve its liquidity, the Company plans to negotiate with its major suppliers for more favorable payment terms, collect short-term loan principals provided to unrelated parties and the related interest income, when they become due, reduce its operating costs through optimizing the personnel structure among different offices, and reduce its office leasing spaces, if needed. The Company also intends to obtain revolving credit facilities to supplement its short-term working capital, as needed, from the commercial banks in the PRC. The Company has not experienced any difficulties in obtaining such credit facility before.

Based on the above discussion, the Company believes that its current cash and cash equivalents, its anticipated new cash flows from operations and from investing and financing activities, and other liquidity improving measures will ensure the Company has sufficient cash to meet its obligations as they become due with the next 12 months from the date hereof.

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2022	Apr. 17, 2023	Jun. 30, 2022
Document Information [Line Items]
Entity Central Index Key	0001376321
Entity Registrant Name	ZW Data Action Technologies Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-34647
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	20-4672080
Entity Address, Address Line One	Room 1811, Xinghuo Keji Plaza, No. 2 Fufeng Road, Fengtai District
Entity Address, City or Town	Beijing
Entity Address, Country	CN
City Area Code	86
Local Phone Number	10-6084-6616
Title of 12(b) Security	Common Stock, par value $0.001
Trading Symbol	CNET
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 9,724,763
Entity Common Stock, Shares Outstanding		7,174,506
Auditor Firm ID	2769
Auditor Name	Centurion ZD CPA & Co.
Auditor Location	Hong Kong, China

Note 19 - Concentration of Risk - Company's Concentration of Customers and Suppliers (Details)

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Cost Of Sales Total [Member] | Supplier Concentration Risk [Member] | Supplier A [Member]

Concentration risk

57.00%

Cost Of Sales Total [Member] | Supplier Concentration Risk [Member] | Supplier B [Member]

Concentration risk

20.00%

73.00%

Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member]

Concentration risk

16.00%

33.00%

Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member]

Concentration risk

16.00%

32.00%

Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer C [Member]

Concentration risk

33.00%

11.00%

Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer D [Member]

Concentration risk

24.00%

Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer E [Member]

Concentration risk

^[1]

19.00%

[1]	Less than 10%.

Note 10 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property and equipment, gross	$ 2,480	$ 2,708
Less: accumulated depreciation	(2,231)	(2,333)
Property and equipment, net	249	375
Vehicles [Member]
Property and equipment, gross	855	933
Office Equipment [Member]
Property and equipment, gross	865	944
Electronic Devices [Member]
Property and equipment, gross	575	629
Leasehold Improvements [Member]
Property and equipment, gross	$ 185	$ 202

Note 14 - Taxation - Reconciliation of the Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Pre-tax loss	$ (9,794)	$ (2,511)
U.S. federal rate	21.00%	21.00%
Income tax benefit computed at U.S. federal rate	$ 2,057	$ 527
Rate differential for foreign earnings	(4)	(131)
Tax effect on non-taxable change in fair value of warrant liabilities	389	2,379
Tax effect enactment of new tax rate of a VIE	0	683
Provision of valuation allowance on deferred tax assets	(833)	(2,312)
Expired tax attribute carryforwards	(1,528)	(1,358)
Tax effect on other (non-deductible expenses)/non-taxable income	(78)	35
Effective income tax benefit/(expense)	$ 3	$ (177)

Note 1 - Organization and Nature of Operations - Consolidated Subsidiaries and VIEs (Details)	Dec. 31, 2022
ChinaNet BVI [Member]
Consolidated subsidiaries, percentage of ownership	100.00%
China Net HK [Member]
Consolidated subsidiaries, percentage of ownership	100.00%
ChinaNet Investment BVI [Member]
Consolidated subsidiaries, percentage of ownership	100.00%
Grandon BVI [Member]
Consolidated subsidiaries, percentage of ownership	100.00%
Winner Glory HK [Member]
Consolidated subsidiaries, percentage of ownership	100.00%
Rise King WFOE [Member]
Consolidated subsidiaries, percentage of ownership	100.00%
ChinaNet Online Holdings Co. [Member]
Consolidated subsidiaries, percentage of ownership	100.00%
ChinaNet Online Guangdong [Member]
Consolidated subsidiaries, percentage of ownership	100.00%

Note 3 - Liquidity and Capital Resource and Going Concern Evaluation (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating Income (Loss), Total	$ (11,119)	$ (13,590)
Net Cash Provided by (Used in) Operating Activities, Total	(3,189)	(8,838)
Cash and Cash Equivalents, at Carrying Value, Total	4,391	$ 7,173
Working Capital	$ 6,610

Note 11 - Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Amortization of Intangible Assets	$ 2,120	$ 600
Impairment of Intangible Assets, Finite-Lived	$ 2,123	$ 0
Finite-Lived Intangible Asset, Useful Life (Year)	3 years 6 months 3 days
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 1,190
Finite-Lived Intangible Asset, Expected Amortization, Year Three	350
Finite-Lived Intangible Asset, Expected Amortization, Year Four	180
Finite-Lived Intangible Asset, Expected Amortization, Year Five	120
Finite-Lived Intangible Asset, Expected Amortization, Year Two	$ 1,190

Consolidated Balance Sheets (Parentheticals) - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Accounts receivable, allowance for doubtful account

$ 3,760

$ 2,236

Common stock, par value (in dollars per share)

$ 0.001

Common stock, shares authorized (in shares)

20,000,000

Common stock, shares issued (in shares)

^[1]

7,174,506

7,075,506

Common stock, shares outstanding (in shares)

^[1]

7,174,506

7,075,506

[1]	Retrospectively restated for effect of the 1-for-5 reverse stock split on January 18, 2023, see Note 4(l).

Note 8 - Other Current Assets, Net (Details Textual) - USD ($) $ in Thousands				1 Months Ended	3 Months Ended	4 Months Ended	5 Months Ended
	Mar. 17, 2023	Apr. 25, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2022	Apr. 30, 2022	Sep. 30, 2022	Jun. 30, 2022	May 01, 2022	Apr. 21, 2022	Jan. 05, 2022	Dec. 31, 2021
Financing Receivable, before Allowance for Credit Loss, Current					$ 2,197							$ 1,646
Loan to Unrelated Party [Member]
Financing Receivable, before Allowance for Credit Loss, Current											$ 2,500
Loans Receivable, Interest Rate, Stated Percentage											7.50%
Proceeds from Collection of Notes Receivable		$ 1,020
Proceeds from Interest Received						$ 60
Revised Loan to Original Unrelated Party [Member]
Financing Receivable, before Allowance for Credit Loss, Current									$ 1,480
Loans Receivable, Interest Rate, Stated Percentage									5.00%
Proceeds from Interest Received					20		$ 30
Second Loan to Unrelated Party [Member]
Financing Receivable, before Allowance for Credit Loss, Current										$ 100
Loans Receivable, Interest Rate, Stated Percentage										5.00%
Second Loan to Unrelated Party [Member] \| Subsequent Event [Member]
Proceeds from Collection of Notes Receivable	$ 100
Proceeds from Interest Received	$ 5
Digital Sun [Member]
Financing Receivable, before Allowance for Credit Loss, Current				$ 1,650
Proceeds from Collection of Notes Receivable			$ 1,030
Notes And Loans Receivable, Term (Year)				1 year
Financing Receivable, Troubled Debt Restructuring, Subsequent Default			$ 620
Financing Receivable, Allowance for Credit Loss, Ending Balance								$ 620
Digital Sun [Member] \| Other Current Assets [Member]
Financing Receivable, after Allowance for Credit Loss, Current, Total					$ 620

Note 22 - Loss Per Share

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

22.

Loss per share

Basic and diluted loss per share for each of the years presented is calculated as follows (All amounts, except number of shares and per share data, are presented in thousands of U.S. dollars):

	Year Ended December 31,
	2022			2021
	US$(’000)			US$(’000)

Net loss attributable to ZW Data Action Technologies Inc. (numerator for basic and diluted loss per share)	$	(9,791	)	$	(2,754	)

Weighted average number of common shares outstanding – Basic and diluted **		7,136,290			6,618,754

Loss per share -Basic and diluted **	$	(1.37	)	$	(0.42	)

For the years ended December 31, 2022 and 2021, the diluted loss per share calculation did not include any outstanding warrants and options to purchase the Company’s common stock, because they were out-of-the-money and their effect was anti-dilutive.

** Retrospectively restated for effect of the 1-for-5 reverse stock split on January 18, 2023, see Note 4(l).

Note 17 - Restricted Net Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries	$ 13,310	$ 11,580
Withholding Tax Rate Pursuant To EIT Law	10.00%
WFOE [Member]
Minimum Percentage Of Annual After-tax Profit For General Reserve	10.00%
Minimum Required Reserve As Percent Of Registered Capital	50.00%
Domestic Enterprise [Member]
Minimum Percentage Of Annual After-tax Profit For General Reserve	10.00%

Note 13 - Accrued Payroll and Other Accruals - Accrued Payroll and Other Accruals (Details) - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Accrued payroll and other accruals

^[1]

$ 438

$ 389

Accrued Payroll and Staff Welfare [Member]

Accrued payroll and other accruals

101

142

Accrued Operating Expenses [Member]

Accrued payroll and other accruals

$ 337

$ 247

[1]	Liabilities recognized as a result of consolidating the VIEs do not represent additional claims on the Company’s general assets (Note 2).

Note 16 - The Financing and Warrant Liabilities

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Warrants Disclosure [Text Block]

16.

The Financing and warrant liabilities

On February 18, 2021 (the “Closing Date”), the Company consummated a registered direct offering of 1,042,400 shares of the Company’s common stock to certain institutional investors at a purchase price of US$17.95 per share (the “2021 Financing”). As part of the transaction, the Company also issued to the investors warrants to purchase up to 521,200 shares of the Company’s common stock at an exercise price of US$17.95 per share (the “2021 Investor Warrants”). The 2021 Investor Warrants are exercisable at any time on or after February 18, 2021 and on or prior to the close of business on August 18, 2024 (the third and one-half years anniversary of the Closing Date). The Company received gross proceeds of approximately US$18.7 million from the 2021 Financing. The placement agent of the 2021 Financing received (i) a placement fee in the amount equal to 7% of the gross proceeds and (ii) warrants to purchase up to 72,968 shares of the Company’s common stock at an exercise price of US$22.4375 per share (the “2021 Placement Agent Warrants”). The 2021 Placement Agent Warrants are exercisable at any time on or after August 18, 2021 (the six-month anniversary of the Closing Date) and on or prior to the close of business on August 18, 2024 (the third and one-half years anniversary of the Closing Date).

The Company consummated similar registered direct offerings and issued the Company’s common stock and common stock purchase warrants to certain institutional investors, and common stock purchase warrants to its placement agent, in December 2020 (the “2020 Financing”) and January 2018 (the “2018 Financing”). Warrants issued to the investors and placement agent in the 2020 Financing were referred to as the “2020 Investors Warrants” and the “2020 Placement Agent Warrants”, respectively. Warrants issued to the investors and placement agent in the 2018 Financing were referred to as the “2018 Investors Warrants” and the “2018 Placement Agent Warrants”, respectively. The warrants issued in the 2021 Financing, the 2020 Financing and the 2018 Financing (Collectively, the “Financings”) were referred to collectively as the “Warrants”.

The respective initial exercise price of the Warrants is subject to anti-dilution provisions that require adjustment of the number of shares of common stock that may be acquired upon exercise of the warrant, or to the exercise price of such shares, or both, to reflect stock dividends and splits, subsequent rights offerings, pro-rata distributions, and certain fundamental transactions. The Warrants also contain “full ratchet” price protection in the event of subsequent issuances below the applicable exercise price (the “Down round feature”).

The Warrants may not be exercised if it would result in the holder beneficially owning more than 4.99% of the Company’s outstanding common shares (the “Beneficial Ownership Limitation”). The holder of the warrants, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation, provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the Company’s outstanding common shares. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the Company.

Accounting for securities issued in the Financings

The Company determined that the Company’s common stock issued in the Financings should be classified as permanent equity as there was no redemption provision at the option of the holders that is not within the control of the Company on or after an agreed upon date.

The Company analyzed the Warrants issued in the Financings in accordance with ASC Topic 815 “Derivatives and Hedging”. In accordance with ASC Topic 815, the Company determined that the Warrants should not be considered index to its own stock, as the strike price of the Warrants is dominated in a currency (U.S. dollar) other than the functional currency of the Company (Renminbi or Yuan). As a result, the Warrants do not meet the scope exception of ASC Topic 815, therefore, should be accounted for as derivative liabilities and measure at fair value with changes in fair value be recorded in earnings in each reporting period.

Allocation of gross proceeds from the 2021 Financing

	Initial Measurement
	(USD’000)

Investor Warrants		10,476
Common Stock (par value and additional paid in capital)		8,235
Total proceeds from the Financing		18,711

The 2021 Investor Warrants were initially measurement at fair value. The residual amount, representing difference between the total proceeds from the 2021 Financing and the fair value of the 2021 Investor Warrants as of the closing date of the 2021 Financing was assigned as the carrying value of the common stock issued.

Offering costs of the 2021 Financing

Offering costs of the 2021 Financing in the amount of approximately US$3.05 million consisting of cash payment of approximately US$1.31 million placement fee, approximately US$0.29 million other direct offering cost of professional service fees and fair value of the 2021 Placement Agent Warrants of approximately US$1.45 million, which were charged to additional paid-in-capital.

Fair value of the Warrants

The Company used Binomial model to determine the fair value of the Warrants on their respective valuation dates, based on the assumptions summarized as below:

Warrants issued in the 2021 Financing:

	2021 Investors Warrants									2021 Placement Agent Warrants
	December 31, 2022			December 31, 2021			February 18, 2021*			December 31, 2022			December 31, 2021			February 18, 2021*

Stock price #	$	0.46		$	1.00		$	4.48		$	0.46		$	1.00		$	4.48
Years to maturity		1.63			2.63			3.50			1.63			2.63			3.50
Risk-free interest rate		4.625	%		0.87	%		0.26	%		4.625	%		0.87	%		0.26	%
Dividend yield		-			-			-			-			-			-
Expected volatility		99.74	%		115	%		168	%		99.74	%		115	%		168	%
Exercise Price #	$	3.59		$	3.59		$	3.59		$	4.4875		$	4.4875		$	4.4875

Fair value of the warrant	$	0.0329		$	0.37		$	4.02		$	0.0256		$	0.36		$	3.96

Warrant Liabilities (US$’000)	$	86		$	964		$	10,476		$	9		$	132		$	1,445

* Closing date of the 2021 Financing.

Warrants issued in the 2020 Financing

	2020 Investors Warrants									2020 Placement Agent Warrants
	December 31, 2022			December 31, 2021			December 31, 2020			December 31, 2022			December 31, 2021			December 31, 2020

Stock price #	$	0.46		$	1.00		$	1.35		$	0.46		$	1.00		$	1.35
Years to maturity		0.95			1.95			2.95			0.95			1.95			2.95
Risk-free interest rate		4.716	%		0.72	%		0.17	%		4.716	%		0.72	%		0.17	%
Dividend yield		-			-			-			-			-			-
Expected volatility		115.61	%		128	%		102	%		115.61	%		128	%		102	%
Exercise Price #	$	2.03		$	2.03		$	2.03		$	2.03		$	2.03		$	2.03

Fair value of the warrant	$	0.0439		$	0.46		$	0.74		$	0.0456		$	0.49		$	0.74

Warrant Liabilities (US$’000)	$	76		$	795		$	1,279		$	14		$	148		$	224

Warrants issued in the 2018 Financing:

	2018 Placement Agent Warrants
	July 2, 2021*			December 31, 2020

Stock price #	$	1.94		$	1.35
Years to maturity		0.04			0.05
Risk-free interest rate		0.05	%		0.08	%
Dividend yield		-			-
Expected volatility		75	%		59	%
Exercise Price #	$	1.4927		$	1.4927

Fair value of the warrant	$	0.45		$	0.02

Warrant liabilities (US$’000)	$	58		$	2

* The investor warrants issued in the 2018 Financing expired in July 2020. The placement agent warrants issued in the 2018 Financing were cashless exercised on July 2, 2021. As a result, the Company issued approximately 0.008 million shares of the Company’s restricted common stock to the placement agent, with a loss of approximately US$0.02 million recognized in other income/(loss) account for the year ended December 31, 2021, which represented the difference between the fair value of these warrants on the date of the cashless exercise and the cost of the Company’s restricted common stock issued, based on the close bid price of the Company’s common stock on the same date.

# To reflect the actual inputs used for the determination of fair value of the Warrants, the stock prices and exercise prices presented in the above tables were not retrospectively restated for effect of the 1-for-5 reverse stock split on January 18, 2023, see Note 4(l).

Stock price is the closing bid price of the Company’s common stock at the respective valuation date. Years to maturity is the respective remaining contract life of the warrants. Yield-to-maturities in continuous compounding of the United States Government Bonds with the time-to-maturities same as the respective warrant are adopted as the risk-free rate. Annualized historical stock price volatility of the Company at the respective valuation date is deemed to be appropriate to serve as the expected volatility of the stock price of the Company. The dividend yield is calculated based on management’s estimate of dividends to be paid on the underlying stock. Exercise price is the respective contractual exercise price of the Warrants at the respective valuation date.

Changes in fair value of warrant liabilities

For the year ended December 31, 2022

	As of December 31, 2022		As of December 31, 2021		Change in Fair Value (Gain)/Loss
	(US$’000)		(US$’000)		(US$’000)

Warrants issued in the 2021 Financing:
--Investor warrants		86		964		(878	)
--Placement agent warrants		9		132		(123	)
Warrants issued in the 2020 Financing:
--Investor warrants		76		795		(719	)
--Placement agent warrants		14		148		(134	)
Warrant liabilities		185		2,039		(1,854	)

For the year ended December 31, 2021

As of

December 31,

2021

As of

July 2,

2021

As of

February 18,

2021

As of

December 31,

2020

Change in

Fair Value

(Gain)/Loss

(US$’000)

Warrants issued in the 2021 Financing:

--Investor warrants

964

10,476

(9,512

)

--Placement agent warrants

132

1,445

(1,313

)

Warrants issued in the 2020 Financing:

--Investor warrants

795

1,279

(484

)

--Placement agent warrants

148

224

(76

)

Warrants issued in the 2018 Financing:

--Placement agent warrants

Warrant liabilities

2,039

1,505

(11,329

)

* Not applicable.

Warrants issued and outstanding on December 31, 2022 and their movements during the two years then ended are as follows:

	Warrant Outstanding							Warrant Exercisable
	Number of underlying shares			Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of underlying shares			Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price

Balance, January 1, 2021		431,975			2.78	$	9.99		25,800			0.05	$	7.4635
Issued/Vested		594,168			2.63	$	18.50		1,000,343			2.36	$	15.11
Exercised		(25,800	)			$	7.4635		(25,800	)			$	7.4635
Balance, December 31, 2021		1,000,343			2.36	$	15.11		1,000,343			2.36	$	15.11
Issued/Vested		-							-
Exercised		-							-
Balance, December 31, 2022		1,000,343			1.36	$	15.11		1,000,343			1.36	$	15.11

** Except where otherwise specified, the numbers of common stock and common stock purchase warrant, the purchase prices of the common stock, the exercise prices of the common stock purchase warrant discussed in this note have been retroactively restated for effect of the 1-for-5 reverse stock split on January 18, 2023, see Note 4(l).

Note 16 - The Financing and Warrant Liabilities - Warrant Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Balance (in shares)	1,000,343	431,975
Balance, weighted average remaining contractual life (Year)	1 year 4 months 9 days	2 years 4 months 9 days	2 years 9 months 10 days
Weighted average exercise price (in dollars per share)	$ 15.11	$ 9.99
Exercisable (in shares)	1,000,343	25,800
Exercisable, weighted average remaining contractual life (Year)	1 year 4 months 9 days	2 years 4 months 9 days	18 days
Exercisable, weighted average exercise price (in dollars per share)	$ 15.11	$ 7.4635
Issued/Vested (in shares)	0	594,168
Issued/Vested, weighted average remaining contractual life (Year)		2 years 7 months 17 days
Issued/Vested, weighted average exercise price (in dollars per share)		$ 18.50
Issued/Vested, Exercisable (in shares)	0	1,000,343
Issued/Vested, exercisable, weighted average remaining contractual life (Year)		2 years 4 months 9 days
Issued/Vested, exercisable, weighted average exercise price (in dollars per share)		$ 15.11
Exercised (in shares)	0	(25,800)
Exercised, weighted average exercise price (in dollars per share)		$ 7.4635
Exercised, exercisable (in shares)	0	(25,800)
Exercised, exercisable, weighted average exercise price (in dollars per share)		$ 7.4635
Balance (in shares)	1,000,343	1,000,343	431,975
Weighted average exercise price (in dollars per share)	$ 15.11	$ 15.11	$ 9.99
Exercisable (in shares)	1,000,343	1,000,343	25,800
Exercisable, weighted average exercise price (in dollars per share)	$ 15.11	$ 15.11	$ 7.4635

Note 6 - Prepayments and Deposit to Suppliers (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Prepayments and Deposit to Suppliers [Table Text Block]

	As of December 31,
	2022		2021
	US$(’000)		US$(’000)

Deposits to advertising resources providers		1,077		934
Prepayments to advertising resources providers		3,036		5,185
Deposit for a potential investing contract		-		1,000
Other deposits and prepayments		454		440
		4,567		7,559

Note 14 - Taxation - Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Tax effect of net operating losses carried forward	$ 11,537	$ 12,130
Operating lease cost	30	23
Impairment on long-term investments	144	0
Impairment on intangible assets	368	0
Bad debts provision	1,018	559
Valuation allowance	(12,691)	(12,271)
Deferred tax assets, net	$ 406	$ 441

Note 4 - Summary of Significant Accounting Policies - Exchange Rates Used to Translate Amounts in RMB Into US$ (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance sheet items, except for equity accounts	6.9646	6.3757
Items in the statements of operations and comprehensive loss	6.7261	6.4515

Note 2 - Variable Interest Entities - Consolidated VIEs' Financial Performance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues	$ 26,235	$ 47,328
Cost of revenues	26,429	47,230
Total operating expenses	10,925	13,688
Net loss before allocation to noncontrolling interests	(9,791)	(2,688)
Variable Interest Entity, Primary Beneficiary [Member]
Revenues	24,188	42,136
Cost of revenues	25,599	45,730
Total operating expenses	3,117	1,409
Net loss before allocation to noncontrolling interests	$ 4,873	$ 5,182

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Note 16 - The Financing and Warrant Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Allocation of Proceeds from Issuance of Equity [Table Text Block]

	Initial Measurement
	(USD’000)

Investor Warrants		10,476
Common Stock (par value and additional paid in capital)		8,235
Total proceeds from the Financing		18,711

Schedule of Warrant Liabilities [Table Text Block]

	As of December 31, 2022		As of December 31, 2021		Change in Fair Value (Gain)/Loss
	(US$’000)		(US$’000)		(US$’000)

Warrants issued in the 2021 Financing:
--Investor warrants		86		964		(878	)
--Placement agent warrants		9		132		(123	)
Warrants issued in the 2020 Financing:
--Investor warrants		76		795		(719	)
--Placement agent warrants		14		148		(134	)
Warrant liabilities		185		2,039		(1,854	)

As of

December 31,

2021

As of

July 2,

2021

As of

February 18,

2021

As of

December 31,

2020

Change in

Fair Value

(Gain)/Loss

(US$’000)

Warrants issued in the 2021 Financing:

--Investor warrants

964

10,476

(9,512

)

--Placement agent warrants

132

1,445

(1,313

)

Warrants issued in the 2020 Financing:

--Investor warrants

795

1,279

(484

)

--Placement agent warrants

148

224

(76

)

Warrants issued in the 2018 Financing:

--Placement agent warrants

Warrant liabilities

2,039

1,505

(11,329

)

Schedule of Warrant Activity [Table Text Block]

	Warrant Outstanding							Warrant Exercisable
	Number of underlying shares			Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of underlying shares			Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price

Balance, January 1, 2021		431,975			2.78	$	9.99		25,800			0.05	$	7.4635
Issued/Vested		594,168			2.63	$	18.50		1,000,343			2.36	$	15.11
Exercised		(25,800	)			$	7.4635		(25,800	)			$	7.4635
Balance, December 31, 2021		1,000,343			2.36	$	15.11		1,000,343			2.36	$	15.11
Issued/Vested		-							-
Exercised		-							-
Balance, December 31, 2022		1,000,343			1.36	$	15.11		1,000,343			1.36	$	15.11

Warrant [Member]

Notes Tables

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	2021 Investors Warrants									2021 Placement Agent Warrants
	December 31, 2022			December 31, 2021			February 18, 2021*			December 31, 2022			December 31, 2021			February 18, 2021*

Stock price #	$	0.46		$	1.00		$	4.48		$	0.46		$	1.00		$	4.48
Years to maturity		1.63			2.63			3.50			1.63			2.63			3.50
Risk-free interest rate		4.625	%		0.87	%		0.26	%		4.625	%		0.87	%		0.26	%
Dividend yield		-			-			-			-			-			-
Expected volatility		99.74	%		115	%		168	%		99.74	%		115	%		168	%
Exercise Price #	$	3.59		$	3.59		$	3.59		$	4.4875		$	4.4875		$	4.4875

Fair value of the warrant	$	0.0329		$	0.37		$	4.02		$	0.0256		$	0.36		$	3.96

Warrant Liabilities (US$’000)	$	86		$	964		$	10,476		$	9		$	132		$	1,445

	2020 Investors Warrants									2020 Placement Agent Warrants
	December 31, 2022			December 31, 2021			December 31, 2020			December 31, 2022			December 31, 2021			December 31, 2020

Stock price #	$	0.46		$	1.00		$	1.35		$	0.46		$	1.00		$	1.35
Years to maturity		0.95			1.95			2.95			0.95			1.95			2.95
Risk-free interest rate		4.716	%		0.72	%		0.17	%		4.716	%		0.72	%		0.17	%
Dividend yield		-			-			-			-			-			-
Expected volatility		115.61	%		128	%		102	%		115.61	%		128	%		102	%
Exercise Price #	$	2.03		$	2.03		$	2.03		$	2.03		$	2.03		$	2.03

Fair value of the warrant	$	0.0439		$	0.46		$	0.74		$	0.0456		$	0.49		$	0.74

Warrant Liabilities (US$’000)	$	76		$	795		$	1,279		$	14		$	148		$	224

	2018 Placement Agent Warrants
	July 2, 2021*			December 31, 2020

Stock price #	$	1.94		$	1.35
Years to maturity		0.04			0.05
Risk-free interest rate		0.05	%		0.08	%
Dividend yield		-			-
Expected volatility		75	%		59	%
Exercise Price #	$	1.4927		$	1.4927

Fair value of the warrant	$	0.45		$	0.02

Warrant liabilities (US$’000)	$	58		$	2

Note 19 - Concentration of Risk

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

19.

Concentration of risk

Credit risk

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable and short-term loans to unrelated parties. As of December 31, 2022, 38% of the Company’s cash and cash equivalents were held by financial institutions located in the United States of America, and the remaining 62% was held by major financial institutions located in the PRC. The Company believes that these financial institutions located in the PRC and the United States of America are of high credit quality. For accounts receivable and short-term loans to unrelated parties, the Company extends credit based on an evaluation of the customer’s or other parties’ financial condition, generally without requiring collateral or other security. In order to minimize the credit risk, the Company delegated a team responsible for credit approvals and other monitoring procedures to ensure that follow-up action is taken to recover overdue debts. Further, the Company reviews the recoverable amount of each individual receivable at each balance sheet date to ensure that adequate allowances are made for doubtful accounts. In this regard, the Company considers that its credit risk for accounts receivable and short-term loans to unrelated parties are significantly reduced.

Concentration of customers

The following tables summarized the information about the Company’s concentration of customers for the years ended December 31, 2022 and 2021, respectively:

	Customer A	Customer B	Customer C	Customer D	Customer E
Year Ended December 31, 2022
Revenues, customer concentration risk	*	*	*	*	-

Year Ended December 31, 2021
Revenues, customer concentration risk	*	*	*	*	*

As of December 31, 2022
Accounts receivable, customer concentration risk	16%	16%	33%	24%	-

As of December 31, 2021
Accounts receivable, customer concentration risk	33%	32%	11%	-	19%

* Less than 10%.

- No transaction incurred for the reporting period/no balance existed as of the reporting date.

Concentration of suppliers

The following tables summarized the information about the Company’s concentration of suppliers for the years ended December 31, 2022 and 2021, respectively:

	Supplier A	Supplier B
Year Ended December 31, 2022
Cost of revenues, supplier concentration risk	57%	20%

Year Ended December 31, 2021
Cost of revenues, supplier concentration risk	*	73%

* Less than 10%.

Note 5 - Accounts Receivable, Net

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Accounts Receivable Disclosure [Text Block]

5.	Accounts receivable, net

	As of December 31,
	2022			2021
	US$(’000)			US$(’000)

Accounts receivable		5,505			5,675
Allowance for doubtful accounts		(3,760	)		(2,236	)
Accounts receivable, net		1,745			3,439

All of the accounts receivable are non-interest bearing. Based on the assessment of the collectability of the accounts receivable as of December 31, 2022 and 2021, the Company provided approximately US$3.76 million and US$2.24 million allowance for doubtful accounts, respectively, which were primarily related to the accounts receivable of the Company’s Internet advertising and related services business segment with an aging over six months. The Company evaluates its accounts receivable with an aging over six months and determines the allowance based on aging data, historical collection experience, customer specific facts and economic conditions. For the years ended December 31, 2022 and 2021, approximately US$1.76 million and US$nil allowance for doubtful accounts was provided, respectively.

Note 14 - Taxation (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule Of Taxes Payable [Table Text Block]

	As of December 31,
	2022		2021
	US$(’000)		US$(’000)

Turnover tax and surcharge payable		1,288		1,414
Enterprise income tax payable		1,960		2,120
Taxes payable		3,248		3,534

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
	2022			2021
	US$(’000)			US$(’000)

Pre-tax loss		(9,794	)		(2,511	)
U.S. federal rate		21	%		21	%
Income tax benefit computed at U.S. federal rate		2,057			527
Reconciling items:
Rate differential for foreign earnings		(4	)		(131	)
Tax effect on non-taxable change in fair value of warrant liabilities		389			2,379
Tax effect enactment of new tax rate of a VIE		-			683
Provision of valuation allowance on deferred tax assets		(833	)		(2,312	)
Expired tax attribute carryforwards		(1,528	)		(1,358	)
Tax effect on other (non-deductible expenses)/non-taxable income		(78	)		35
Effective income tax benefit/(expense)		3			(177	)

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)

Current		-		-
Deferred		3		(177	)
Income tax benefit/(expense)		3		(177	)

Schedule Of Deferred Tax Assets [Table Text Block]

	As of December 31,
	2022			2021
	US$(’000)			US$(’000)

Tax effect of net operating losses carried forward		11,537			12,130
Operating lease cost		30			23
Impairment on long-term investments		144			-
Impairment on intangible assets		368			-
Bad debts provision		1,018			559
Valuation allowance		(12,691	)		(12,271	)
Deferred tax assets, net		406			441

Note 19 - Concentration of Risk (Details Textual) - Geographic Concentration Risk [Member] - Cash and Cash Equivalents [Member]	12 Months Ended
	Dec. 31, 2022
UNITED STATES
Concentration Risk, Percentage	38.00%
CHINA
Concentration Risk, Percentage	62.00%

Note 7 - Due from Related Parties, Net

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

7.	Due from related parties, net

	As of December 31,
	2022			2021
	US$(’000)			US$(’000)

Zhongwang Xiyue Technology (Beijing) Co., Ltd. (“Zhongwang Xiyue”)		-			62
Guangzhou Gong Xiang Technology Co., Ltd. (“Gong Xiang Technology”)		14			28
Due from related parties, total		14			90
Allowance for doubtful accounts		(14	)		-
Due from related parties, net		-			90

Related parties of the Company represented the Company’s direct or indirect unconsolidated investee entities, as well as entities that the Company’s officers or directors can exercise significant influence.

As of December 31, 2021, due from Zhongwang Xiyue represented the outstanding receivables for the advertising and marketing service that the Company provided to this related party in its normal course of business, which was on the same terms as those provided to its unrelated clients. Amount due from Zhongwang Xiyue had been fully collected by December 31, 2022.

As of December 31, 2022 and 2021, due from Gong Xiang Technology were the remaining outstanding balances of a short-term working capital loan with an original amount of US$0.04 million that the Company provided to this investee entity in March 2021. The Company had provided full allowance against the remaining outstanding balance as of December 31, 2022, as the business activities of Gong Xiang Technology had become dormant as of December 31, 2022 and the potential recovery of this outstanding amount was considered remote.

Note 2 - Variable Interest Entities - Consolidated VIEs' Assets and Liabilities (Details) - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Cash and Cash Equivalents, at Carrying Value, Total

$ 4,391

$ 7,173

Accounts receivable, net

1,745

3,439

Prepayment and deposit to suppliers

4,567

7,559

Other current assets

1,610

1,657

Total current assets

12,313

19,918

Long-term investments, net

1,596

2,280

Operating Lease, Right-of-Use Asset

1,761

2,019

Property and equipment, net

249

375

Deferred tax assets

406

441

Total Assets

19,658

32,631

Accounts payable

^[1]

205

1,119

Advances from customers

^[1]

739

1,245

Accrued payroll and other accruals

^[1]

438

389

Taxes payable

^[1]

3,248

3,534

Operating lease liabilities

^[1]

347

202

Short-term Lease Liability

101

152

Other current liabilities

^[1]

437

141

Total current liabilities

5,700

8,821

Operating lease liabilities-Non current

^[1]

1,535

1,907

Total Liabilities

7,361

10,865

Variable Interest Entity, Primary Beneficiary [Member]

Cash and Cash Equivalents, at Carrying Value, Total

578

181

Accounts receivable, net

1,745

2,796

Prepayment and deposit to suppliers

2,020

5,287

Other current assets

Total current assets

4,345

8,358

Long-term investments, net

165

496

Operating Lease, Right-of-Use Asset

145

Property and equipment, net

113

168

Deferred tax assets

406

441

Total Assets

5,174

9,484

Accounts payable

205

1,119

Advances from customers

515

1,113

Accrued payroll and other accruals

Taxes payable

2,602

2,849

Operating lease liabilities

146

Short-term Lease Liability

101

110

Other current liabilities

320

Total current liabilities

3,952

5,336

Operating lease liabilities-Non current

Total Liabilities

$ 3,952

$ 5,346

[1]	Liabilities recognized as a result of consolidating the VIEs do not represent additional claims on the Company’s general assets (Note 2).

Note 5 - Accounts Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Accounts Receivable [Table Text Block]

	As of December 31,
	2022			2021
	US$(’000)			US$(’000)

Accounts receivable		5,505			5,675
Allowance for doubtful accounts		(3,760	)		(2,236	)
Accounts receivable, net		1,745			3,439

Note 7 - Due from Related Parties, Net - Due From Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Due from related parties, gross	$ 14	$ 90
Allowance for doubtful accounts	(14)	0
Due from related parties, net	0	90
Zhong Wang Xi Yue Technology (Beijing) Co. Ltd [Member]
Due from related parties, gross	0	62
Guangzhou Gong Xiang Technology Co. [Member]
Due from related parties, gross	$ 14	$ 28

- Definition

The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=124098289&loc=d3e6676-107765

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(3)(a)(2))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Note 24 - Subsequent Events (Details Textual)

Jan. 18, 2023

Jan. 17, 2023

Dec. 31, 2022

$ / shares

Dec. 31, 2021

$ / shares

Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares

$ 0.001

Common Stock, Shares Authorized (in shares)

20,000,000

Common Stock, Shares, Issued (in shares)

^[1]

7,174,506

7,075,506

Common Stock, Shares, Outstanding, Ending Balance (in shares)

^[1]

7,174,506

7,075,506

Subsequent Event [Member]

Common Stock, Shares Authorized (in shares)

20,000,000

100,000,000

Common Stock, Shares, Issued (in shares)

7,174,506

35,827,677

Common Stock, Shares, Outstanding, Ending Balance (in shares)

7,174,506

35,827,677

Reverse Stock Split [Member] | Subsequent Event [Member]

Stockholders' Equity Note, Stock Split, Conversion Ratio

[1]	Retrospectively restated for effect of the 1-for-5 reverse stock split on January 18, 2023, see Note 4(l).

Note 5 - Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts receivable	$ 5,505	$ 5,675
Allowance for doubtful accounts	(3,760)	(2,236)
Accounts receivable, net	$ 1,745	$ 3,439

Note 13 - Accrued Payroll and Other Accruals (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Accrued Liabilities [Table Text Block]

	As of December 31,
	2022		2021
	US$(’000)		US$(’000)

Accrued payroll and staff welfare		101		142
Accrued operating expenses		337		247
		438		389

Note 14 - Taxation (Details Textual) $ in Thousands, $ in Millions		12 Months Ended
	Apr. 01, 2018 HKD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%	21.00%
Income Tax Withholding Rate Pursuant to EIT Law		10.00%
Operating Loss Carryforwards		$ 31,800	$ 31,000
Operating Loss Carryforwards, Taxable Income Deduction Limitations		80.00%
Deferred Tax Assets, Valuation Allowance		$ 12,691	12,271
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ 830	$ 2,310
Minimum [Member]
PRC Value Added Tax Surcharge Rate		12.00%
PRC [Member]
PRC Value Added Tax Rate for Modern Service Provided		6.00%	6.00%
PRC Value Added Tax Rate for Modern Service Provided Small Scale Tax Payer		3.00%	3.00%
Other PRC Operating Entities [Member] \| PRC [Member]
Applicable Income Tax Rate	25.00%	25.00%	25.00%
Business Opportunity Online [Member] \| PRC [Member]
Applicable Income Tax Rate		25.00%	15.00%
PRC Subsidiary And VIE's [Member]
Operating Loss Carryforwards		$ 15,400	$ 18,300
HONG KONG
Applicable Income Tax Rate for First Profit Limit	8.25%
Taxable Profits for Applicable Income Tax Rate	$ 2
Applicable Income Tax Rate for Subsequent Profit	16.50%

Consolidated Balance Sheets - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Current assets

Cash and cash equivalents

$ 4,391

$ 7,173

Accounts receivable, net of allowance for doubtful accounts of $3,760 and $2,236, respectively

1,745

3,439

Prepayment and deposit to suppliers

4,567

7,559

Due from related parties, net

Other current assets, net

1,610

1,657

Total current assets

12,313

19,918

Long-term investments, net

1,596

2,280

Operating lease right-of-use assets

1,761

2,019

Property and equipment, net

249

375

Intangible assets, net

3,264

7,523

Long-term deposits and prepayments

Deferred tax assets, net

406

441

Total Assets

19,658

32,631

Current liabilities:

Accounts payable

^[1]

205

1,119

Advances from customers *

^[1]

739

1,245

Accrued payroll and other accruals

^[1]

438

389

Taxes payable

^[1]

3,248

3,534

Operating lease liabilities

^[1]

347

202

Lease payment liabilities related to short-term leases *

101

152

Other current liabilities

^[1]

437

141

Warrant liabilities

185

2,039

Total current liabilities

5,700

8,821

Long-term liabilities:

Operating lease liabilities-Non current

^[1]

1,535

1,907

Long-term borrowing from a related party

126

137

Total Liabilities

7,361

10,865

Commitments and contingencies

Equity:

Common stock (US$0.001 par value; authorized 20,000,000 shares; issued and outstanding 7,174,506 shares and 7,075,506 shares at December 31, 2022 and 2021, respectively **)

Additional paid-in capital **

^[2]

62,017

61,813

Statutory reserves

2,598

Accumulated deficit

(53,525)

(43,734)

Accumulated other comprehensive income

1,200

1,082

Total ZW Data Action Technologies Inc.’s stockholders’ equity

12,297

21,766

Noncontrolling interests

Total equity

12,297

21,766

Total Liabilities and Equity

$ 19,658

$ 32,631

[1]	Liabilities recognized as a result of consolidating the VIEs do not represent additional claims on the Company’s general assets (Note 2).
[2]	Retrospectively restated for effect of the 1-for-5 reverse stock split on January 18, 2023, see Note 4(l).

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of presentation

The consolidated financial statements are prepared and presented in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).

Consolidation, Policy [Policy Text Block]

Principles of consolidation

Use of Estimates, Policy [Policy Text Block]

Use of estimates

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign currency translation and transactions

The exchange rates used to translate amounts in RMB into US$ for the purposes of preparing the consolidated financial statements are as follows:

	As of December 31,
	2022		2021

Balance sheet items, except for equity accounts		6.9646		6.3757

	Year Ended December 31,
	2022		2021

Items in the statements of operations and comprehensive loss		6.7261		6.4515

No representation is made that the RMB amounts could have been or could be converted into US$ at the above rates.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and cash equivalents

For the years ended December 31, 2022 and 2021, the Company’s PRC subsidiaries, the VIEs, and VIE’s subsidiaries did not transfer any cash outside of the PRC.

Accounts Receivable [Policy Text Block]

Accounts receivable, net

Investment, Policy [Policy Text Block]

Long-term investments

Property, Plant and Equipment, Policy [Policy Text Block]

Property and equipment, net

Leasehold improvements (years)	3
Vehicles (years)	5
Office equipment (years)	3	-	5
Electronic devices (years)	5

Intangible Assets, Finite-Lived, Policy [Policy Text Block]

Intangible assets, net

Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]

Impairment of long-lived assets

Fair Value Measurement, Policy [Policy Text Block]

Fair value

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter.

Liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2022 and 2021 is as follows:

Fair value measurement at reporting date using

As of

December 31, 2022

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

Warrant liabilities

185

Fair value measurement at reporting date using

As of

December 31, 2021

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

Warrant liabilities

2,039

Significant unobservable inputs utilized to determine the fair value of the Company’s warrant liabilities was disclosed in Note 16.

Stockholders' Equity, Policy [Policy Text Block]

Reverse stock split

Revenue from Contract with Customer [Policy Text Block]

Revenue recognition

The Company’s contract with customers do not include significant financing component and any variable consideration.

Distribution of the right to use search engine marketing service

Online advertising placement service/ecommerce advertising placement service

Blockchain-based SaaS services

The following tables present the Company’s revenues disaggregated by products and services and timing of revenue recognition:

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)

Revenue recognized over time		25,835		47,328
Revenue recognized at a point in time		400		-
Total revenues	$	26,235	$	47,328

Contract costs

Contract balances

	Contract liabilities
	US$(’000)

Balance as of January 1, 2021		1,436
Exchange translation adjustment		34
Revenue recognized from beginning contract liability balance		(1,390	)
Advances received from customers related to unsatisfied performance obligations		1,165
Balance as of December 31, 2021		1,245
Exchange translation adjustment		(105	)
Revenue recognized from beginning contract liability balance		(1,104	)
Advances received from customers related to unsatisfied performance obligations		703
Balance as of December 31, 2022		739

For the years ended December 31, 2022 and 2021, there is no revenue recognized from performance obligations that were satisfied in prior periods.

Transaction price allocated to remaining performance obligation

Cost of Goods and Service [Policy Text Block]

Cost of revenues

Research and Development Expense, Policy [Policy Text Block]

Research and development expenses

Lessee, Leases [Policy Text Block]

Lease

The Company’s office lease contracts do not contain any nonlease component and are classified as operating leases in accordance with ASC Topic 842-10-25-3.

As of December 31, 2022, operating lease right-of-use assets and total operating lease liabilities recognized was approximately US$1.76 million and US$1.88 million, respectively.

Maturity of operating lease liabilities

	Operating leases
	US$(’000)
Year ending December 31,
-2023		447
-2024		313
-2025		328
-2026		345
-2027		362
-thereafter		444
Total undiscounted lease payments		2,239
Less: imputed interest		(357	)
Operating lease liabilities as of December 31, 2022	$	1,882

Including:
Operating lease liabilities		347
Operating lease liabilities-Non current		1,535
	$	1,882

As of December 31, 2021, operating lease right-of-use assets and total operating lease liabilities recognized was approximately US$2.02 million and US$2.11 million, respectively.

Operating lease expenses:

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)

Long-term operating lease contracts		459		302
Short-term operating lease contracts		48		60
Total		507		362

Supplemental information related to operating leases:

	Year Ended December 31,
	2022			2021

Operating cash flows used for operating leases (US$’000)		361			210
Right-of-use assets obtained in exchange for new lease liabilities (US$’000)		252			2,186
Weighted-average remaining lease term (years)		5.75			7.12
Weighted-average discount rate		6	%		6	%

Income Tax, Policy [Policy Text Block]

Income taxes

Income Tax Uncertainties, Policy [Policy Text Block]

Uncertain tax positions

Share-Based Payment Arrangement [Policy Text Block]

Share-based payment transactions

Comprehensive Income, Policy [Policy Text Block]

Comprehensive income (loss)

Earnings Per Share, Policy [Policy Text Block]

Earnings (loss) per share

Commitments and Contingencies, Policy [Policy Text Block]

Commitments and contingencies

New Accounting Pronouncements, Policy [Policy Text Block]

Recent issued or adopted accounting standards

Note 4 - Summary of Significant Accounting Policies - Contract liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance	$ 1,245	$ 1,436
Exchange translation adjustment	(105)	34
Revenue recognized from beginning contract liability balance	(1,104)	(1,390)
Advances received from customers related to unsatisfied performance obligations	703	1,165
Balance	$ 739	$ 1,245

Note 14 - Taxation

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Income Tax Disclosure [Text Block]

14.

Taxation

Income tax

The entities within the Company file separate tax returns in the respective tax jurisdictions in which they operate.

i). a. The Company is incorporated in the state of Nevada. Under the current law of Nevada, the Company is not subject to state corporate income tax. Following the Share Exchange, the Company became a holding company and does not conduct any substantial operations of its own. Before enactment of the Tax Cuts and Jobs Act (“TCJA” or the “Act”) in December 2017, the Company did not provide for U.S. taxes or foreign withholding taxes on undistributed earnings from its non-U.S. subsidiaries because such earnings are intended to be reinvested indefinitely. On December 22, 2017, the U.S. enacted the Act (which is commonly referred to as “U.S. tax reform”). The Act significantly changes U.S. corporate income tax laws including but not limited to reducing the U.S. corporate income tax rate from 35% to 21% beginning in 2018, imposing a one-time mandatory tax on previously deferred foreign earnings and imposing a new tax on global intangible low-taxed income (“GILTI”) effective for tax years of non-U.S. corporations beginning after December 31, 2017.

i). b. Effective from January 1, 2018, the Company is subject to the new GILTI tax rules. The GILTI provisions impose a tax on foreign income in excess of a deemed return on tangible assets of controlled foreign corporations (“CFCs”), subject to the possible use of foreign tax credits and a deduction equal to 50 percent to offset the income tax liability, subject to some limitations. Under U.S. GAAP, the Company has made an accounting policy choice of treating taxes due on future U.S. inclusions in taxable income related to GILTI as a current period expense when incurred (the “period cost method”), instead of factoring such amounts into the Company’s measurement of its deferred taxes (the “deferred method”). For the years ended December 31, 2022 and 2021, no provision for federal corporate income tax has been made in the financial statements as the Company has no aggregated positive tested income.

ii). Under the current law of the BVI, the Company’s subsidiaries being incorporate in the BVI are not subject to tax on income or capital gains. Additionally, upon payments of dividends by these BVI companies to its respective shareholders, no BVI withholding tax will be imposed.

iii). The Company’s subsidiaries being incorporated in Hong Kong are governed by the Hong Kong Inland Revenue Ordinance (the “HK tax laws”). Effective from April 1, 2018, a two-tier corporate income tax system was officially implemented in Hong Kong. The applicable income tax rate is 8.25% for the first HK$2.0 million profits, and the subsequent profits are taxed at 16.5%. Additionally, upon payments of dividends by these Hong Kong subsidiaries to its shareholders, no Hong Kong withholding tax will be imposed.

iv). The Company’s operating subsidiaries and VIEs, being incorporated in the PRC, are governed by the income tax law of the PRC and is subject to PRC enterprise income tax (“EIT”). The EIT rate of PRC is 25%, which applies to both domestic and foreign invested enterprises.

●

The applicable EIT rate for all the Company’s PRC operating entities is 25% for both the years ended December 31, 2022 and 2021.

●

Business Opportunity Online’s qualification as a High and New Technology Enterprise expired in November 2021, as a result, the applicable EIT rates of Business Opportunity Online had changed from 15% to 25% since the year ended December 31, 2021, and its net operating losses (NOLs) carryforward period changed to 5 years from 10 years for a High and New Technology Enterprise. The effect on deferred taxes of such changes was recognized in the statement of operations and comprehensive loss for the year ended December 31, 2021.

●

Under the current PRC EIT law and related regulations, dividends, interests, rent or royalties payable by a foreign-invested enterprise to its immediate holding company outside China are subject to a 10% withholding tax. A lower withholding tax rate will be applied if there is a tax treaty arrangement between mainland China and the jurisdiction of the foreign holding company, subject to certain conditions and requirements.

Turnover taxes and the relevant surcharges

Service revenues generated by the Company’s PRC operating subsidiaries and VIEs are subject to Value Added Tax (“VAT”). VAT rate for provision of modern services (other than lease of corporeal movables) is 6%, and for small scale taxpayer, 3%. Therefore, for the years ended December 31, 2022 and 2021, the Company’s service revenues generated in the PRC are subject to VAT at a rate of 6%, after deducting the VAT paid for the resources and services purchased from suppliers, or at a rate of 3% without any deduction of VAT paid for the resources and services purchased from suppliers. The surcharges of the VAT in the aggregate is 12% of the VAT.

As of December 31, 2022, and 2021, taxes payable consists of:

	As of December 31,
	2022		2021
	US$(’000)		US$(’000)

Turnover tax and surcharge payable		1,288		1,414
Enterprise income tax payable		1,960		2,120
Taxes payable		3,248		3,534

A reconciliation of the income tax benefit determined at the U.S. federal corporate income tax rate to the Company’s effective income tax benefit/(expense) is as follows:

	Year Ended December 31,
	2022			2021
	US$(’000)			US$(’000)

Pre-tax loss		(9,794	)		(2,511	)
U.S. federal rate		21	%		21	%
Income tax benefit computed at U.S. federal rate		2,057			527
Reconciling items:
Rate differential for foreign earnings		(4	)		(131	)
Tax effect on non-taxable change in fair value of warrant liabilities		389			2,379
Tax effect enactment of new tax rate of a VIE		-			683
Provision of valuation allowance on deferred tax assets		(833	)		(2,312	)
Expired tax attribute carryforwards		(1,528	)		(1,358	)
Tax effect on other (non-deductible expenses)/non-taxable income		(78	)		35
Effective income tax benefit/(expense)		3			(177	)

For the years ended December 31, 2022 and 2021, the Company’s income tax (benefit)/expense consisted of:

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)

Current		-		-
Deferred		3		(177	)
Income tax benefit/(expense)		3		(177	)

The Company’s deferred tax assets at December 31, 2022 and 2021 were as follows:

	As of December 31,
	2022			2021
	US$(’000)			US$(’000)

Tax effect of net operating losses carried forward		11,537			12,130
Operating lease cost		30			23
Impairment on long-term investments		144			-
Impairment on intangible assets		368			-
Bad debts provision		1,018			559
Valuation allowance		(12,691	)		(12,271	)
Deferred tax assets, net		406			441

The U.S. holding company has incurred aggregate net operating losses (NOLs) of approximately US$31.8 million and US$31.0 million at December 31, 2022 and 2021, respectively. The NOLs carryforwards as of December 31, 2017 gradually expire over time, the last of which expires in 2037. NOLs incurred after December 31, 2017 will no longer be available to carry back but can be carried forward indefinitely. Furthermore, the Act imposes an annual limit of 80% on the amount of taxable income that can be offset by NOLs arising in tax years ending after December 31, 2017. The Company maintains a full valuation allowance against its net U.S. deferred tax assets, since due to uncertainties surrounding future utilization, the Company estimates there will not be sufficient future earnings to utilize its U.S. deferred tax assets.

The NOLs carried forward incurred by the Company’s PRC subsidiaries and VIEs were approximately US$15.4 million and US$18.3 million at December 31, 2022 and 2021, respectively. The losses carryforwards gradually expire over time, the last of which expires in 2027. The related deferred tax assets were calculated based on the respective net operating losses incurred by each of the PRC subsidiaries and VIEs and the respective corresponding enacted tax rate that will be in effect in the period in which the losses are expected to be utilized.

The Company recorded approximately US$12.7 million and US$12.3 million valuation allowance as of December 31, 2022 and 2021, respectively, because it is considered more likely than not that a portion of the deferred tax assets will not be realized through sufficient future earnings of the entities to which the operating losses related.

For the years ended December 31, 2022 and 2021, total net deferred tax assets valuation allowance provided was approximately US$0.83 million and US$2.31 million, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Note 4 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues	$ 26,235	$ 47,328
Search Engine Marketing and Data Service [Member]
Revenues	22,262	39,224
Online Advertising Placement [Member]
Revenues	3,548	7,442
Offline Advertising and Marketing Services [Member]
Revenues	0	662
Blockchain-based SaaS services [Member]
Revenues	425	0
Transferred over Time [Member]
Revenues	25,835	47,328
Transferred at Point in Time [Member]
Revenues	$ 400	$ 0

- Definition

+ References

+ Details

Note 15 - Long-term Borrowing From a Related Party

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Long-Term Borrowing from Director Disclosure [Text Block]

15.

Long-term borrowing from a related party

Long-term borrowing from a related party is a non-interest bearing loan from a related party of the Company relating to the original paid-in capital contribution in the Company’s wholly-owned subsidiary Rise King WFOE, which is not expected to be repaid within one year.

Note 19 - Concentration of Risk (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedules of Concentration of Risk, by Risk Factor [Table Text Block]

	Customer A	Customer B	Customer C	Customer D	Customer E
Year Ended December 31, 2022
Revenues, customer concentration risk	*	*	*	*	-

Year Ended December 31, 2021
Revenues, customer concentration risk	*	*	*	*	*

As of December 31, 2022
Accounts receivable, customer concentration risk	16%	16%	33%	24%	-

As of December 31, 2021
Accounts receivable, customer concentration risk	33%	32%	11%	-	19%

	Supplier A	Supplier B
Year Ended December 31, 2022
Cost of revenues, supplier concentration risk	57%	20%

Year Ended December 31, 2021
Cost of revenues, supplier concentration risk	*	73%

Note 21 - Segment Reporting (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement, Expense	$ 186	$ 7,028

Note 22 - Loss Per Share (Details Textual)	Jan. 18, 2023
Subsequent Event [Member] \| Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5

Note 6 - Prepayments and Deposit to Suppliers (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Contractual Deposits, Term of Contract (Year)	1 year
Deposit Assets, Total		$ 1
Increase (Decrease) in Deposit Assets, Total	$ (1)

Note 16 - The Financing and Warrant Liabilities - Allocation of Gross Proceeds from the Financing (Details) - Private Placement [Member] - USD ($) $ in Thousands		12 Months Ended
	Feb. 18, 2021	Dec. 31, 2021
Investor Warrants		$ 10,476
Common Stock (par value and additional paid in capital)		8,235
Total proceeds from the Financing	$ 18,700	$ 18,711

Note 9 - Long-term Investments

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

9.	Long-term investment

	Amount
	US$(’000)

Balance as of January 1, 2021		67
Exchange translation adjustment		1
Cash investments during the year		2,250
Disposed during the year		(38	)
Balance as of December 31, 2021		2,280
Exchange translation adjustment		(88	)
Impairment losses provided during the year		(596	)
Balance as of December 31, 2022		1,596

As of December 31, 2022, except for long-term investments which were fully impaired, the Company beneficially owned a 15.38%, 10%, 9.9%, 9% and 19% equity interest in each New Business Holdings Limited (“New Business”), Guang Dong WeFriend Co., Ltd. (“Guangdong WeFriend”), Guangdong Yong Fu Xiang Health Management Co., Ltd (“Yong Fu Xiang”); Guangzhou Yuan Qi Man Man Technology Co., Ltd. (“Yuan Qi Man Man") and Business Opportunity Chain (Guangzhou) Technology Co., Ltd. (“Business Opportunity Chain Guangzhou”), respectively.

In August 2022, the Company obtained a 9.9% equity interest in Yong Fu Xiang, through subscription of a RMB6.73 million (approximately US$0.97 million) registered capital of the entity in cash, which amount was committed to be paid up before December 31, 2065. Yong Fu Xiang is primarily engaged in providing health care consultancy and health management services.

In September 2022, the Company obtained a 9% equity interest in Yuan Qi Man Man, through subscription of a RMB0.09 million (approximately US$0.01 million) registered capital of the entity in cash, which amount was committed to be paid up before December 31, 2040. Yuan Qi Man Man is primarily engaged in providing franchise consultancy and marketing services.

The Company measures these investments which do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the Company.

For the year ended December 31 2022, the Company provided full impairment loss provision against its investments in Shenzhen Global Best Products Import & Export Co., Ltd. (“Shenzhen Global Best Products”), Guangzhou Gong Xiang Technology Co., Ltd. (“Gong Xiang Technology”) and Xiao Peng Education Technology (Hubei) Co., Ltd. (“Xiao Peng Education”) with an aggregate amount of approximately US$0.60 million, as the business activities of these entities had become dormant as of December 31, 2022.

Note 4 - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Foreign Currency Exchange Rates [Table Text Block]

	As of December 31,
	2022		2021

Balance sheet items, except for equity accounts		6.9646		6.3757

	Year Ended December 31,
	2022		2021

Items in the statements of operations and comprehensive loss		6.7261		6.4515

Property, Plant and Equipment, Useful Life [Table Text Block]

Leasehold improvements (years)	3
Vehicles (years)	5
Office equipment (years)	3	-	5
Electronic devices (years)	5

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

Fair value measurement at reporting date using

As of

December 31, 2022

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

Warrant liabilities

185

Fair value measurement at reporting date using

As of

December 31, 2021

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

Warrant liabilities

2,039

Disaggregation of Revenue [Table Text Block]

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)
Internet advertising and related service
--distribution of the right to use search engine marketing service		22,262		39,224
--online advertising placements		3,548		7,442
Ecommerce O2O advertising and marketing services		-		662
Blockchain-based SaaS services		425		-
Total revenues	$	26,235	$	47,328

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)

Revenue recognized over time		25,835		47,328
Revenue recognized at a point in time		400		-
Total revenues	$	26,235	$	47,328

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]

	Contract liabilities
	US$(’000)

Balance as of January 1, 2021		1,436
Exchange translation adjustment		34
Revenue recognized from beginning contract liability balance		(1,390	)
Advances received from customers related to unsatisfied performance obligations		1,165
Balance as of December 31, 2021		1,245
Exchange translation adjustment		(105	)
Revenue recognized from beginning contract liability balance		(1,104	)
Advances received from customers related to unsatisfied performance obligations		703
Balance as of December 31, 2022		739

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

	Operating leases
	US$(’000)
Year ending December 31,
-2023		447
-2024		313
-2025		328
-2026		345
-2027		362
-thereafter		444
Total undiscounted lease payments		2,239
Less: imputed interest		(357	)
Operating lease liabilities as of December 31, 2022	$	1,882

Including:
Operating lease liabilities		347
Operating lease liabilities-Non current		1,535
	$	1,882

Lease, Cost [Table Text Block]

	Year Ended December 31,
	2022		2021
	US$(’000)		US$(’000)

Long-term operating lease contracts		459		302
Short-term operating lease contracts		48		60
Total		507		362

	Year Ended December 31,
	2022			2021

Operating cash flows used for operating leases (US$’000)		361			210
Right-of-use assets obtained in exchange for new lease liabilities (US$’000)		252			2,186
Weighted-average remaining lease term (years)		5.75			7.12
Weighted-average discount rate		6	%		6	%

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Note 7 - Due from Related Parties, Net (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Due from Related Parties, Current, Total	$ 0	$ 90
Guangzhou Gong Xiang Technology Co. [Member] \| Related Party, Working Capital Loan [Member]
Due from Related Parties, Current, Total			$ 40

- Definition

+ References

+ Details

Note 10 - Property and Equipment, Net

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

10.

Property and equipment, net

	As of December 31,
	2022			2021
	US$(’000)			US$(’000)

Vehicles		855			933
Office equipment		865			944
Electronic devices		575			629
Leasehold improvement		185			202
Property and equipment, cost		2,480			2,708
Less: accumulated depreciation		(2,231	)		(2,333	)
Property and equipment, net		249			375

Depreciation expenses in the aggregate for the years ended December 31, 2022 and 2021 were approximately US$0.10 million and US$0.03 million, respectively.

Note 24 - Subsequent Events

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Subsequent Events [Text Block]

24.

Subsequent events

The Board of Directors of the Company approved a reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.001 per share (the “Common Stock”) at a ratio of 1-for-5 (the “Reverse Stock Split”). The Reverse Stock Split became effective on January 18, 2023 (the “Effective Date”). The Reverse Stock Split was effected by the Company filing a Certificate of Change (the “Certificate”) pursuant to Nevada Revised Statutes Section 78.209 with the Secretary of State of the State of Nevada on the Effective Date. As a result of the filing of the Certificate, the number of shares of the Company’s authorized Common Stock was reduced from 100,000,000 shares to 20,000,000 shares. The issued and outstanding number of shares of the Common Stock was decreased correspondingly from 35,827,677 shares of Common Stock at January 18, 2023 to 7,174,506 shares of Common Stock (taking into account the rounding of fractional shares). No cash or other consideration was paid in connection with any fractional shares that would otherwise have resulted from the Reverse Stock Split. The Reverse Stock Split has no effect on the par value of the Company’s Common Stock or authorized shares of preferred stock.

In March 2020, the spread of a novel coronavirus (“COVID-19”) resulted in the World Health Organization declaring the outbreak of COVID-19 as a global pandemic. The Company’s principal business activity is to provide advertising and marketing services to small and medium enterprises in the PRC, which is particularly sensitive to changes in general economic conditions. The pandemic of COVID-19 in the PRC had caused and may continue to cause decreases in or delays in advertising spending, and had negatively impacted and may continue to negatively impact the Company’s short-term ability to grow revenues. Although the COVID-19 outbreak had been largely under control within China, and the PRC government ended its three-year zero-COVID policy in late 2022, and most of the travel restrictions and quarantine requirements were lifted in December 2022, there remains uncertainty as to the future impact of the pandemic. The Company will continue to assess its financial impacts for the future periods. There can be no assurance that this assessment will enable the Company to avoid part or all of any impact from the spread of COVID-19 or its consequences, including downturns in business sentiment generally or in the Company’s sector in particular.

Except for the above mentioned matters, no other material events which are required to be adjusted or disclosed as of the date of this consolidated financial statements.

Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Revenues

$ 26,235

$ 47,328

Total revenues

26,235

47,328

Cost of revenues

26,429

47,230

Gross (loss)/profit

(194)

Operating expenses

Sales and marketing expenses

269

730

General and administrative expenses

8,304

12,632

Research and development expenses

229

326

Impairment on intangible assets

2,123

Total operating expenses

10,925

13,688

Loss from operations

(11,119)

(13,590)

Other income/(expenses)

Change in fair value of warrant liabilities

1,854

11,329

Interest income

116

Impairment on long-term investments

(596)

Loss on disposal of long-term investments

(38)

Other expenses, net

(49)

(216)

Total other income

1,325

11,079

Loss before income tax benefit/(expense) and noncontrolling interests

(9,794)

(2,511)

Income tax benefit/(expenses)

(177)

Net income (loss)

(9,791)

(2,688)

Net income attributable to noncontrolling interests

(66)

Net loss attributable to ZW Data Action Technologies Inc.

(9,791)

(2,754)

Net loss

(9,791)

(2,688)

Foreign currency translation income/(loss)

118

(47)

Comprehensive loss

(9,673)

(2,735)

Comprehensive income attributable to noncontrolling interests

(66)

Comprehensive loss attributable to ZW Data Action Technologies Inc.

$ (9,673)

$ (2,801)

Loss per common share

Basic and diluted ** (in dollars per share)

^[1]

$ (1.37)

$ (0.42)

Weighted average number of common shares outstanding :

Basic and diluted ** (in shares)

7,136,290

6,618,754

Unrelated Parties [Member]

Revenues

$ 26,235

$ 47,324

Total revenues

26,235

47,324

Related Parties [Member]

Revenues

Total revenues

$ 0

$ 4

[1]	Retrospectively restated for effect of the 1-for-5 reverse stock split on January 18, 2023, see Note 4(l).

Note 4 - Summary of Significant Accounting Policies (Details Textual)
$ / shares in Units, $ in Thousands

12 Months Ended

Jan. 18, 2023

Dec. 31, 2022

USD ($)

$ / shares

Dec. 31, 2021

USD ($)

$ / shares

Jan. 17, 2023

Cash and Cash Equivalents, at Carrying Value, Total

$ 4,391

$ 7,173

Off-Balance-Sheet, Credit Loss, Liability, Ending Balance

Accounts Receivable, Allowance for Credit Loss, Ending Balance

1,760

Other than Temporary Impairment Losses, Investments

$ 596

Finite-Lived Intangible Asset, Useful Life (Year)

3 years 6 months 3 days

Asset Impairment Charges, Total

$ 2,120

$ 0

Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares

$ 0.001

Common Stock, Shares Authorized (in shares) | shares

20,000,000

Common Stock, Shares, Issued (in shares) | shares

^[1]

7,174,506

7,075,506

Common Stock, Shares, Outstanding, Ending Balance (in shares) | shares

^[1]

7,174,506

7,075,506

Contract with Customer, Asset, after Allowance for Credit Loss, Total

$ 0

Contract with Customer, Performance Obligation Satisfied in Previous Period

$ 0

Research and Development Expense, Total

229

326

Short-term Lease Liability

101

152

Operating Lease, Right-of-Use Asset

1,761

2,019

Operating Lease, Liability, Total

1,882

Other Current Assets [Member]

Operating Lease, Right-of-Use Asset

1,760

2,020

Other Current Liabilities [Member]

Operating Lease, Liability, Total

$ 1,880

2,110

Subsequent Event [Member]

Common Stock, Shares Authorized (in shares) | shares

20,000,000

100,000,000

Stock Issued During Period, Fractional Shares, Reverse Stock Splits (in shares) | shares

Common Stock, Shares, Issued (in shares) | shares

7,174,506

35,827,677

Common Stock, Shares, Outstanding, Ending Balance (in shares) | shares

7,174,506

35,827,677

Reverse Stock Split [Member] | Subsequent Event [Member]

Stockholders' Equity Note, Stock Split, Conversion Ratio

Minimum [Member]

Lessee, Operating Lease, Term of Contract (Year)

1 year

Maximum [Member]

Lessee, Operating Lease, Term of Contract (Year)

8 years

Purchased Software and Software Platform [Member] | Minimum [Member]

Finite-Lived Intangible Asset, Useful Life (Year)

3 years

Purchased Software and Software Platform [Member] | Maximum [Member]

Finite-Lived Intangible Asset, Useful Life (Year)

10 years

Variable Interest Entity, Primary Beneficiary [Member]

Cash and Cash Equivalents, at Carrying Value, Total

$ 578

181

Short-term Lease Liability

101

110

Operating Lease, Right-of-Use Asset

145

Subsidiaries [Member] | Subsidiary's Payment on Behalf of Parent to Satisfy Shareholder loans Obligation [Member]

480

Subsidiaries [Member] | Cash Transfer [Member]

16,330

Subsidiaries [Member] | Capital Contributions [Member]

5,000

Subsidiaries [Member] | Shareholder Loans [Member]

11,330

Subsidiaries [Member] | Shareholder Loans Converted to Capital Contribution [Member]

2,000

Subsidiaries [Member] | Subsidiary, Loan to Variable Entity Interests (VIEs) [Member] | Variable Interest Entity, Primary Beneficiary [Member]

340

4,250

Scenario, Plan [Member]

Dividends, Common Stock, Cash

UNITED STATES

Cash and Cash Equivalents, at Carrying Value, Total

1,660

CHINA

Cash and Cash Equivalents, at Carrying Value, Total

2,730

CHINA | PRC Subsidiary And VIE's [Member] | Cash Transfer [Member]

$ 0

[1]	Retrospectively restated for effect of the 1-for-5 reverse stock split on January 18, 2023, see Note 4(l).

Note 22 - Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Year Ended December 31,
	2022			2021
	US$(’000)			US$(’000)

Net loss attributable to ZW Data Action Technologies Inc. (numerator for basic and diluted loss per share)	$	(9,791	)	$	(2,754	)

Weighted average number of common shares outstanding – Basic and diluted **		7,136,290			6,618,754

Loss per share -Basic and diluted **	$	(1.37	)	$	(0.42	)

Note 8 - Other Current Assets, Net (Tables)

12 Months Ended

Dec. 31, 2022

Notes Tables

Schedule of Other Current Assets [Table Text Block]

	December 31, 2022			December 31, 2021
	US$(’000)			US$(’000)

Short-term loans to unrelated parties		2,197			1,646
Short-term loans interest receivables		22			-
Staff advances for business operations		8			11
Total other current assets		2,227			1,657
Allowance for doubtful accounts		(617	)		-
Other current assets, net		1,610			1,657

Consolidated Statements of Changes in Equity (Parentheticals) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Private Placement [Member] \| Investor Warrants [Member]
Proceeds allocated to warrant liabilities	$ 10,476
Private Placement [Member] \| Private Placement Agent Costs [Member]
Proceeds allocated to warrant liabilities	1,445
Investor Costs [Member]
Direct offering costs	3,045
Private Placement Agent Costs [Member]
Direct offering costs	1,600
Proceeds allocated to warrant liabilities	$ 2,039