0001171843-24-003699 | 10-K | XBRL Viewer | ZW Data Action Technologies INC

Schedule Of Taxes Payable [Table Text Block]

	As of December 31,
	2023		2022
	US$(’000)		US$(’000)

Turnover tax and surcharge payable		1,264		1,288
Enterprise income tax payable		1,930		1,960
Taxes payable		3,194		3,248

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

	Year Ended December 31,
	2023			2022
	US$(’000)			US$(’000)

Pre-tax loss		(5,976	)		(9,794	)
U.S. federal rate		21	%		21	%
Income tax benefit computed at U.S. federal rate		1,255			2,057
Reconciling items:
Rate differential for foreign earnings		(55	)		(4	)
Tax effect on non-taxable change in fair value of warrant liabilities		39			389
Provision of valuation allowance on deferred tax assets		353			(833	)
Expired tax attribute carryforwards		(1,583	)		(1,528	)
Tax effect on other (non-deductible expenses)/non-taxable income		(7	)		(78	)
Effective income tax benefit/(expense)		2			3

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

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)

Current		-		-
Deferred		2		3
Income tax benefit/(expense)		2		3

Schedule Of Deferred Tax Assets [Table Text Block]

	As of December 31,
	2023			2022
	US$(’000)			US$(’000)

Tax effect of net operating losses carried forward		10,745			11,537
Operating lease cost		1			30
Impairment on long-term investments		161			144
Impairment on intangible assets		571			368
Bad debts provision		1,226			1,018
Valuation allowance		(12,303	)		(12,691	)
Deferred tax assets, net		401			406

Note 20 - Segment Reporting (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Expense	$ 108	$ 186

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net loss	$ (5,974)	$ (9,791)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	1,288	2,215
Amortization of operating lease right-of-use assets	364	341
Share-based compensation expenses	107	186
Loss on disposal of fixed assets	6	0
Other income/expenses)	433	596
Impairment on intangible assets	1,231	2,123
Provision of allowances for doubtful accounts	1,033	2,394
Change in fair value of warrant liabilities	(185)	(1,854)
Deferred taxes	(2)	(3)
Gain on disposal of subsidiaries	(10)	0
Effect of termination of an operating lease contract	(138)	0
Other non-operating (income)/losses	(300)	(113)
Changes in operating assets and liabilities
Accounts receivable	593	(276)
Prepayment and deposit to suppliers	36	1,652
Due from related parties	0	59
Other current assets	3	2
Accounts payable	(1)	(848)
Advances from customers	115	(420)
Accrued payroll and other accruals	(80)	60
Other current liabilities	(184)	836
Taxes payable	(4)	(6)
Operating lease liabilities	(343)	(302)
Lease payment liability related to short-term leases	0	(40)
Net cash used in operating activities	(2,012)	(3,189)
Cash flows from investing activities
Payment for leasehold improvements and purchase of vehicles, furniture and office equipment	(81)	0
Net proceeds from disposal of fixed assets	14	0
Cash effect of deconsolidation of subsidiaries	(3)	0
Investment and advances to ownership investee entities	(64)	0
Proceeds from disposal of subsidiaries	3	0
Proceeds from disposal of ownership investee entities	426	0
Repayment of short-term loans from ownership investee entities	0	12
Short-term loans to unrelated parties	(2,000)	(2,600)
Repayment of short-term loans and interest income from unrelated parties	168	2,140
Deposit and prepayment repaid from/(paid for) contracts of other investing activities	0	1,000
Net cash provided by/(used in) investing activities	(1,537)	552
Cash flows from financing activities
Proceeds from issuance of common stock and warrants (net of cash offering cost of $1,600)	0	0
Net cash provided by financing activities	0	0
Effect of exchange rate fluctuation on cash and cash equivalents	(25)	(145)
Net (decrease)/increase in cash and cash equivalents	(3,574)	(2,782)
Cash and cash equivalents, at beginning of the year	4,391	7,173
Cash and cash equivalents, at end of the year	817	4,391
Supplemental disclosure of cash flow information
Income taxes paid	0	0
Interest expense paid	$ 0	$ 0

Note 15 - The Financing and Warrant Liabilities - Warrant Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Balance (in shares)	1,000,343	1,000,343
Balance, weighted average remaining contractual life (Year)	7 months 17 days	1 year 4 months 9 days	2 years 4 months 9 days
Weighted average exercise price (in dollars per share)	$ 15.11	$ 15.11
Exercisable (in shares)	1,000,343	1,000,343
Exercisable, weighted average remaining contractual life (Year)	7 months 17 days	1 year 4 months 9 days	2 years 4 months 9 days
Exercisable, weighted average exercise price (in dollars per share)	$ 15.11	$ 15.11
Issued/Vested (in shares)	0	0
Exercisable, Issued/Vested (in shares)	0	0
Exercised (in shares)	0	0
Expired (in shares)	(406,175)
Expired, weighted average exercise price (in dollars per share)	$ 10.15
Balance (in shares)	594,168	1,000,343	1,000,343
Weighted average exercise price (in dollars per share)	$ 18.5	$ 15.11	$ 15.11
Exercisable (in shares)	594,168	1,000,343	1,000,343
Exercisable, weighted average exercise price (in dollars per share)	$ 18.5	$ 15.11	$ 15.11

Note 18 - Concentration of Risk (Details Textual) - Geographic Concentration Risk [Member] - Cash and Cash Equivalents [Member]	12 Months Ended
	Dec. 31, 2023
UNITED STATES
Concentration Risk, Percentage	51.00%
CHINA
Concentration Risk, Percentage	49.00%

Note 18 - Concentration of Risk

12 Months Ended

Dec. 31, 2023

Concentration Risk Disclosure [Text Block]

18.

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, 2023, 51% of the Company’s cash and cash equivalents were held by financial institutions located in the United States of America, and the remaining 49% 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, 2023 and 2022, respectively:

Customer
A

Customer
B

Customer
C

Customer
D

Customer
E

Year Ended December 31, 2023

Revenues, customer concentration risk

Year Ended December 31, 2022

Revenues, customer concentration risk

As of December 31, 2023

Accounts receivable, customer concentration risk

11%

56%

19%

As of December 31, 2022

Accounts receivable, customer concentration risk

16%

33%

24%

16%

* 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, 2023 and 2022, respectively:

Supplier
A

Supplier
B

Supplier
C

Supplier
D

Year Ended December 31, 2023

Cost of revenues, supplier concentration risk

65%

17%

Year Ended December 31, 2022

Cost of revenues, supplier concentration risk

57%

20%

* Less than 10%.

Note 16 - Restricted Net Assets

12 Months Ended

Dec. 31, 2023

Restricted Assets Disclosure [Text Block]

16.

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, 2023 and December 31, 2022, net assets restricted in the aggregate, that are included in the Company’s consolidated net assets, were approximately US$13.41 million and US$13.31 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 7 - Due from Related Parties, Net - Due From Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for doubtful accounts	$ (3,987)	$ (3,760)	$ (2,236)
Guangzhou Gong Xiang Technology Co. [Member]
Due from related parties, total	0	14
Related Party [Member]
Due from related parties, total	0	14
Allowance for doubtful accounts	0	(14)
Due from related parties, net	$ 0	$ 0

Note 4 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues	$ 30,585	$ 26,235
Search Engine Marketing and Data Service [Member]
Revenues	30,510	22,262
Online Advertising Placement [Member]
Revenues	0	3,548
Offline Advertising and Marketing Services [Member]
Revenues	0	0
Blockchain-based SaaS services [Member]
Revenues	75	425
Transferred over Time [Member]
Revenues	30,585	25,835
Transferred at Point in Time [Member]
Revenues	$ 0	$ 400

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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Note 17 - Employee Defined Contribution Plan (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Contribution Plan, Cost	$ 160	$ 220

Note 5 - Accounts Receivable, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 3,987	$ 3,760
Accounts Receivable, Allowance for Credit Loss	246	1,763
Internet Advertising and TV Advertising [Member]
Accounts Receivable, Allowance for Credit Loss, Current	$ 3,990
Number of Months Past Due (Month)	6 months
Accounts Receivable, Allowance for Credit Loss	$ 250	1,760
Internet Advertising And TV Advertising Contractual Deposit [Member]
Accounts Receivable, Allowance for Credit Loss, Current		$ 3,760

Note 13 - Taxation - Taxes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Turnover tax and surcharge payable	$ 1,264	$ 1,288
Enterprise income tax payable	1,930	1,960
Taxes payable	$ 3,194	$ 3,248

Note 4 - Summary of Significant Accounting Policies - Maturity of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 25
Lessee, Operating Lease, Liability, to be Paid, Year Two	0
Lessee, Operating Lease, Liability, to be Paid, Year Three	0
Lessee, Operating Lease, Liability, to be Paid, Year Four	0
-thereafter	0
Total undiscounted lease payments	25
Less: imputed interest	(1)
Operating lease liabilities as of December 31, 2023	24		$ 1,880
Operating lease liabilities	24	$ 347
Operating lease liabilities-Non current	0	$ 1,535
Operating Lease, Liability	$ 24		$ 1,880

Note 20 - Segment Reporting

12 Months Ended

Dec. 31, 2023

Segment Reporting Disclosure [Text Block]

20.

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, 2023

	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		30,510			-			75						-			30,585
Cost of revenues		30,180			-			841						-			31,021
Total operating expenses		2,388			11			-			3,177	⁽¹⁾		-			5,576
Depreciation and amortization expenses included in cost of revenues and operating expenses		366			-			841			81			-			1,288
Impairment on intangible assets included in operating expenses		1,231			-			-			-			-			1,231
Loss from operations		(2,058	)		(11	)		(766	)		(3,177	)		-			(6,012	)

Impairment on long-term investments		-			-			-			433			-			433

Change in fair value of warrant liabilities		-			-			-			185			-			185

Net loss		(2,085	)		(6	)		(766	)		(3,117	)		-			(5,974	)

Total assets-December 31, 2023		7,966			144			841			34,867			(32,585	)		11,233

(1) Including approximately US$0.11 million share-based compensation expenses.

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.

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.

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Note 8 - Other Current Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Other Current Assets [Table Text Block]

	December 31, 2023			December 31, 2022
	US$(’000)			US$(’000)

Short-term loans to unrelated parties		4,097			2,197
Short-term loans interest receivables		250			22
Staff advances for business operations		5			8
Total other current assets		4,352			2,227
Allowance for doubtful accounts		(1,558	)		(617	)
Other current assets, net		2,794			1,610

Note 9 - Long-term Investments (Tables)

12 Months Ended

Dec. 31, 2023

Other Investments Not Readily Marketable [Table Text Block]

	Amount
	US$(’000)

Balance as of January 1, 2022		2,280
Exchange translation adjustment		(88	)
Impairment losses provided during the year		(596	)
Balance as of December 31, 2022		1,596
Exchange translation adjustment		(7	)
Cash investments during the year		64
Disposed during the year		(426	)
Impairment losses provided during the year		(433	)
Balance as of December 31, 2023		794

Note 20 - Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

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		30,510			-			75						-			30,585
Cost of revenues		30,180			-			841						-			31,021
Total operating expenses		2,388			11			-			3,177	⁽¹⁾		-			5,576
Depreciation and amortization expenses included in cost of revenues and operating expenses		366			-			841			81			-			1,288
Impairment on intangible assets included in operating expenses		1,231			-			-			-			-			1,231
Loss from operations		(2,058	)		(11	)		(766	)		(3,177	)		-			(6,012	)

Impairment on long-term investments		-			-			-			433			-			433

Change in fair value of warrant liabilities		-			-			-			185			-			185

Net loss		(2,085	)		(6	)		(766	)		(3,117	)		-			(5,974	)

Total assets-December 31, 2023		7,966			144			841			34,867			(32,585	)		11,233

	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

Note 4 - Summary of Significant Accounting Policies - Operating Lease Expenses and Supplemental Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Long-term operating lease contracts	$ 326	$ 459
Operating cash flows used for operating leases (US$’000)	498	361
Short-term operating lease contracts	31	48
Right-of-use assets obtained in exchange for new lease liabilities (US$’000)	0	252
Total	$ 357	$ 507
Weighted-average remaining lease term (years) (Year)	29 days	5 years 9 months
Weighted-average discount rate	6.00%	6.00%

Note 7 - Due from Related Parties, Net

12 Months Ended

Dec. 31, 2023

7.	Due from related parties, net

	As of December 31,
	2023		2022
	US$(’000)		US$(’000)

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

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, 2023, there were no outstanding balance due from related parties.

As of December 31, 2022, 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 3 - Liquidity and Capital Resource and Going Concern Evaluation (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating Income (Loss)	$ (6,012)	$ (11,119)
Net Cash Provided by (Used in) Operating Activities	(2,012)	(3,189)
Cash and cash equivalents	817	$ 4,391
Working Capital	$ 4,110

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Common Stock [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Additional Paid-in Capital [Member]	Statutory Reserves [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Statutory Reserves [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Noncontrolling Interest [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Total
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
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
Net loss		0		0		0		(9,791)		0		0		(9,791)
Foreign currency translation adjustment		$ 0		0		0		0		118		0		118
Balance (in shares) at Dec. 31, 2022		7,174,506
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022	$ 0		$ 0		$ 0		$ (191)		$ 0		$ 0		$ (191)
Balance at Dec. 31, 2022		$ 7		62,017		2,598		(53,525)		1,200		0		12,297
Share-based compensation in exchange for services from employees and directors (in shares)		30,000
Share-based compensation in exchange for services from employees and directors		$ 0		50		0		0		0		0		50
Net loss		0		0		0		(5,974)		0		0		(5,974)
Foreign currency translation adjustment		$ 0		0		0		0		72		0		72
Balance (in shares) at Dec. 31, 2023		7,204,506
Balance at Dec. 31, 2023		$ 7		$ 62,067		$ 2,598		$ (59,690)		$ 1,272		$ 0		$ 6,254

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 of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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Note 1 - Organization and Nature of Operations (Details Textual)	Dec. 31, 2023
ChinaNet BVI [Member]
Subsidiary, Ownership Percentage, Parent	100.00%
China Net HK [Member]
Subsidiary, Ownership Percentage, Parent	100.00%
ChinaNet Investment BVI [Member]
Subsidiary, Ownership Percentage, Parent	100.00%
Grandon BVI [Member]
Subsidiary, Ownership Percentage, Parent	100.00%
Rise King WFOE [Member]
Subsidiary, Ownership Percentage, Parent	100.00%
ChinaNet Online Holdings Co. [Member]
Subsidiary, Ownership Percentage, Parent	100.00%
ChinaNet Online Guangdong [Member]
Subsidiary, Ownership Percentage, Parent	100.00%

Note 10 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Depreciation	$ 90	$ 100

Note 21 - Loss Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Text Block]

21.

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,
	2023			2022
	US$(’000)			US$(’000)

Net loss attributable to ZW Data Action Technologies Inc. (numerator for basic and diluted loss per share)	$	(5,974	)	$	(9,791	)

Weighted average number of common shares outstanding – Basic and diluted **		7,194,890			7,136,290

Loss per share -Basic and diluted **	$	(0.83	)	$	(1.37	)

For the years ended December 31, 2023 and 2022, 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 21 - Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2023

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

	Year Ended December 31,
	2023			2022
	US$(’000)			US$(’000)

Net loss attributable to ZW Data Action Technologies Inc. (numerator for basic and diluted loss per share)	$	(5,974	)	$	(9,791	)

Weighted average number of common shares outstanding – Basic and diluted **		7,194,890			7,136,290

Loss per share -Basic and diluted **	$	(0.83	)	$	(1.37	)

Note 22 - Share-based Compensation Expenses - Share-based Compensation Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share based expense	$ 108	$ 186
Selling and Marketing Expense [Member]
Share based expense	0	0
General and Administrative Expense [Member]
Share based expense	108	186
Research and Development Expense [Member]
Share based expense	$ 0	$ 0

Note 6 - Prepayments and Deposit to Suppliers (Tables)

12 Months Ended

Dec. 31, 2023

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

	As of December 31,
	2023		2022
	US$(’000)		US$(’000)

Deposits to advertising resources providers		911		1,077
Prepayments to advertising resources providers		3,136		3,036
Deposit for a potential investing contract		-		-
Other deposits and prepayments		458		454
		4,505		4,567

Note 9 - Long-term Investments (Details Textual) ¥ in Thousands, $ in Thousands		12 Months Ended
	May 27, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2023 CNY (¥)	Jun. 30, 2023 USD ($)	Jun. 30, 2023 CNY (¥)	Dec. 31, 2021 USD ($)
Equity Securities without Readily Determinable Fair Value, Amount		$ 794	$ 1,596					$ 2,280
Other than Temporary Impairment Losses, Investments		433	596
Proceeds from Sale of Equity Method Investments		$ 426	$ 0
New Business Holdings Limited [Member]
Equity Securities Without Readily Determinable Fair Value, Percent		15.38%
Equity Securities without Readily Determinable Fair Value, Amount		$ 800
Other than Temporary Impairment Losses, Investments		$ 200
New Business Holdings Limited [Member] \| Forecast [Member]
Equity Securities Without Readily Determinable Fair Value, Percent	7.69%
Proceeds from Sale of Equity Method Investments	$ 400
Guangdong Yong Fu Xiang Health Management Co., Ltd (Yong Fu Xiang) [Member]
Equity Securities Without Readily Determinable Fair Value, Percent		9.90%
Wuhan Ju Liang [Member]
Equity Securities Without Readily Determinable Fair Value, Percent		9.90%				9.90%	9.90%
Equity Securities without Readily Determinable Fair Value, Amount						$ 140	¥ 990
Guangzhou Yuan Qi Man Man Technology Co., Ltd. (Yuan Qi Man Man) [Member]
Equity Securities Without Readily Determinable Fair Value, Percent		9.00%				10.00%	10.00%
Equity Securities without Readily Determinable Fair Value, Amount						$ 430	¥ 3,000
Fu Meng Hui (Guangzhou) Management Consulting Co., Ltd. (“Fu Meng Hui”) [Member]
Equity Securities Without Readily Determinable Fair Value, Percent				9.00%	9.00%
Equity Securities without Readily Determinable Fair Value, Amount				$ 60	¥ 450
Other than Temporary Impairment Losses, Investments		$ 20
Business Opportunity Chain (Guangzhou) Technology Co., Ltd. [Member]
Other than Temporary Impairment Losses, Investments		$ 210

Note 18 - Concentration of Risk - Company's Concentration of Customers and Suppliers (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cost Of Sales Total [Member] \| Supplier Concentration Risk [Member] \| Supplier A [Member]
Accounts receivable, customer concentration risk	65.00%
Cost Of Sales Total [Member] \| Supplier Concentration Risk [Member] \| Supplier B [Member]
Accounts receivable, customer concentration risk	17.00%	0.00%
Cost Of Sales Total [Member] \| Supplier Concentration Risk [Member] \| Supplier C [Member]
Accounts receivable, customer concentration risk	0.00%	57.00%
Cost Of Sales Total [Member] \| Supplier Concentration Risk [Member] \| Supplier D [Member]
Accounts receivable, customer concentration risk		20.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer B [Member]
Accounts receivable, customer concentration risk	11.00%	33.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer D [Member]
Accounts receivable, customer concentration risk	56.00%	16.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer E [Member]
Accounts receivable, customer concentration risk	19.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer A [Member]
Accounts receivable, customer concentration risk		16.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Customer C [Member]
Accounts receivable, customer concentration risk		24.00%

Note 22 - Share-based Compensation Expenses

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Text Block]

22.

Share-based compensation expenses

In April 2023, under its 2020 Omnibus Securities and Incentive Plan, the Company granted and issued an aggregate of 0.03 million fully-vested shares of the Company’s restricted common stock to one of the Company’s executive officers in exchange for their services to the Company for the year ended December 31, 2023. 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$0.05 million for the year ended December 31, 2023.

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$0.06 million for the year ended December 31, 2023.

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.

The table below summarized share-based compensation expenses recorded for the years ended December 31, 2023 and 2022, respectively:

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)

Sales and marketing expenses		-		-
General and administrative expenses		108		186
Research and development expenses		-		-
Total		108		186

The aggregate unrecognized share-based compensation expenses as of December 31, 2022 was approximately US$0.06 million, which was 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 12 - Accrued Payroll and Other Accruals (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Accrued Liabilities [Table Text Block]

	As of December 31,
	2023		2022
	US$(’000)		US$(’000)

Accrued payroll and staff welfare		67		101
Accrued operating expenses		283		337
		350		438

Note 8 - Other Current Assets, Net (Details Textual) - USD ($)					1 Months Ended			3 Months Ended	5 Months Ended	12 Months Ended
	May 29, 2024	May 28, 2024	Apr. 25, 2022	Mar. 31, 2022	May 31, 2023	Apr. 30, 2022	Mar. 31, 2021	Jul. 31, 2023	Feb. 28, 2023	Dec. 31, 2023	Dec. 31, 2022	Jan. 11, 2023	Jun. 30, 2022	May 01, 2022	Jan. 05, 2022	Dec. 31, 2021
Financing Receivable, before Allowance for Credit Loss, Current										$ 4,097,000	$ 2,197,000
Financing Receivable, Allowance for Credit Loss										1,559,000	617,000					$ 0
Loan to Unrelated Party [Member]
Financing Receivable, before Allowance for Credit Loss, Current															$ 2,500,000
Loans Receivable, Interest Rate, Stated Percentage															7.50%
Proceeds from Collection of Notes Receivable			$ 1,020,000.00
Proceeds from Interest Received						$ 60,000.00
Revised Loan to Original Unrelated Party [Member]
Financing Receivable, before Allowance for Credit Loss, Current														$ 1,480,000
Loans Receivable, Interest Rate, Stated Percentage														5.00%
Proceeds from Interest Received					$ 20.00			$ 20,000.00	$ 50,000.00
Revised Loan to Original Unrelated Party [Member] \| Forecast [Member]
Proceeds from Collection of Notes Receivable	$ 130,000
Proceeds from Interest Received	50,000.00
Proceeds from Loans	$ 80,000.00
Second Loan to Unrelated Party [Member]
Financing Receivable, before Allowance for Credit Loss, Current												$ 2,000,000
Loans Receivable, Interest Rate, Stated Percentage												12.00%
Allowance for Credit Loss on Short Term Loans										$ 790,000	620,000
Second Loan to Unrelated Party [Member] \| Forecast [Member]
Proceeds from Interest Received		$ 260,000
Digital Sun [Member]
Financing Receivable, before Allowance for Credit Loss, Current							$ 1,650,000
Proceeds from Collection of Notes Receivable				$ 1,030,000.00
Notes And Loans Receivable, Term (Year)							1 year
Financing Receivable, Modified, Subsequent Default				$ 620,000
Financing Receivable, Allowance for Credit Loss													$ 620,000
Digital Sun [Member] \| Other Current Assets [Member]
Financing Receivable, after Allowance for Credit Loss, Current											$ 620,000

Note 12 - Accrued Payroll and Other Accruals

12 Months Ended

Dec. 31, 2023

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

12.

Accrued payroll and other accruals

	As of December 31,
	2023		2022
	US$(’000)		US$(’000)

Accrued payroll and staff welfare		67		101
Accrued operating expenses		283		337
		350		438

Note 22 - Share-based Compensation Expenses (Details Textual) $ / shares in Units, shares in Thousands, $ in Thousands		1 Months Ended			12 Months Ended
	Jan. 18, 2023	Apr. 30, 2023 shares	Jun. 30, 2022 USD ($) $ / shares shares	May 31, 2022 shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Share-Based Payment Arrangement, Expense					$ 108	$ 186
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount						60
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5
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		30
Share-Based Payment Arrangement, Expense					50
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					$ 60	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				19
Share-Based Payment Arrangement, Expense						$ 60

Note 4 - Summary of Significant Accounting Policies (Details Textual) $ / shares in Units, $ in Thousands		12 Months Ended
	Jan. 18, 2023 $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Jan. 17, 2023 shares	Jan. 01, 2023 USD ($)	Dec. 31, 2021 USD ($)
Cash and cash equivalents		$ 817	$ 4,391
Accounts Receivable, Allowance for Credit Loss		246	1,763
Other than Temporary Impairment Losses, Investments		$ 433	596
Finite-Lived Intangible Asset, Useful Life (Year)		1 year
Impairment of Intangible Assets (Excluding Goodwill)		$ 1,231	$ 2,123
Common Stock, Par or Stated Value Per Share (in dollars per share) \| $ / shares	$ 0.001	$ 0.001	$ 0.001
Common Stock, Shares Authorized (in shares) \| shares	20,000,000	20,000,000	20,000,000	100,000,000
Stock Issued During Period, Fractional Shares, Reverse Stock Splits (in shares) \| shares	0
Common Stock, Shares, Issued (in shares) \| shares	7,174,506	7,204,506	7,174,506	35,827,677
Contract with Customer, Asset, after Allowance for Credit Loss		$ 0
Contract with Customer, Performance Obligation Satisfied in Previous Period		0	$ 0
Research and Development Expense		17	229
Lease payment liabilities related to short-term leases		99	101
Operating lease right-of-use assets		22	1,761			$ 1,760
Operating Lease, Liability		24				1,880
Retained Earnings (Accumulated Deficit)		(59,690)	(53,525)
Accounts Receivable, Allowance for Credit Loss		3,987	3,760			2,236
Financing Receivable, Allowance for Credit Loss		$ 1,559	617			0
Accounting Standards Update 2016-13 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Retained Earnings (Accumulated Deficit)					$ 190
Accounts Receivable, Allowance for Credit Loss			36		40	0
Financing Receivable, Allowance for Credit Loss			155		$ 150	$ 0
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5
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		$ 367	578
Lease payment liabilities related to short-term leases		99	101
Operating lease right-of-use assets		0	145
Subsidiaries [Member] \| Subsidiary's Payment on Behalf of Parent to Satisfy Shareholder loans Obligation [Member]
Related Party Transaction, Amounts of Transaction		790
Subsidiaries [Member] \| Subsidiary, Loan to Variable Entity Interests (VIEs) [Member] \| Variable Interest Entity, Primary Beneficiary [Member]
Related Party Transaction, Amounts of Transaction		550	$ 340
Scenario, Plan [Member]
Dividends, Common Stock, Cash		0
UNITED STATES
Cash and cash equivalents		420
CHINA
Cash and cash equivalents		400
CHINA \| PRC Subsidiary And VIE's [Member] \| Cash Transfer [Member]
Related Party Transaction, Amounts of Transaction		$ 0

Note 5 - Accounts Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Accounts Receivable [Table Text Block]

	As of December 31,
	2023			2022
	US$(’000)			US$(’000)

Accounts receivable		4,831			5,505
Allowance for doubtful accounts		(3,987	)		(3,760	)
Accounts receivable, net		844			1,745

Note 15 - The Financing and Warrant Liabilities - Warrant Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Warrant Liabilities (US$’000)	$ 0	$ 185	$ 2,039
Change in Fair Value (Gain)/Loss	(185)	(1,854)
Investor Warrants Issued in Connection with 2021 Financing [Member]
Warrant Liabilities (US$’000)	0	86	964
Change in Fair Value (Gain)/Loss	(86)	(878)
Placement Agent Warrants Issued in Connection with 2021 Financing [Member]
Warrant Liabilities (US$’000)	0	9	132
Change in Fair Value (Gain)/Loss	(9)	(123)
Investor Warrants Issued in Connection with 2020 Financing [Member]
Warrant Liabilities (US$’000)		76	795
Change in Fair Value (Gain)/Loss	(76)	(719)
Placement Agent Warrants Issued in Connection with 2020 Financing [Member]
Warrant Liabilities (US$’000)	0	14	$ 148
Change in Fair Value (Gain)/Loss	$ (14)	$ (134)

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

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Revenues

$ 30,585

$ 26,235

Cost of revenues

31,021

26,429

Gross (loss)/profit

(436)

(194)

Operating Expenses [Abstract]

Sales and marketing expenses

267

269

General and administrative expenses

4,061

8,304

Research and development expenses

229

Impairment on intangible assets

1,231

2,123

Total operating expenses

5,576

10,925

Loss from operations

(6,012)

(11,119)

Other income/(expenses)

Other income/expenses)

433

596

Change in fair value of warrant liabilities

185

1,854

Interest income

298

116

Gain on disposal of subsidiaries

Other expenses, net

(24)

(49)

Total other income

1,325

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

(5,976)

(9,794)

Income tax benefit/(expenses)

Net loss

(5,974)

(9,791)

Net income attributable to noncontrolling interests

Net loss attributable to ZW Data Action Technologies Inc.

(5,974)

(9,791)

Net loss

(5,974)

(9,791)

Foreign currency translation income/(loss)

118

Comprehensive loss

(5,902)

(9,673)

Comprehensive income attributable to noncontrolling interests

Comprehensive loss attributable to ZW Data Action Technologies Inc.

$ (5,902)

$ (9,673)

Loss per common share

Basic and diluted ** (in dollars per share)

^[1]

$ (0.83)

$ (1.37)

Weighted average number of common shares outstanding :

Basic and diluted ** (in shares)

^[1]

7,194,890

7,136,290

[1]	Retrospectively 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) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Gross carrying value	$ 9,663	$ 9,690
Accumulated amortization	(5,078)	(3,902)
Impairment	(3,744)	(2,524)
Intangible assets, net	841	3,264
Cloud-Computing Based Software Platforms [Member]
Gross carrying value	1,311	1,333
Accumulated amortization	(909)	(924)
Impairment	(402)	(409)
Intangible assets, net	0	0
Licensing Agreements [Member]
Gross carrying value	1,204	1,201
Accumulated amortization	(496)	(374)
Impairment	(708)	0
Intangible assets, net	0	827
Internet Ad Tracking System [Member]
Gross carrying value	1,160	1,160
Accumulated amortization	(637)	(405)
Impairment	(523)	0
Intangible assets, net	0	755
Livestreaming Technology [Member]
Gross carrying value	1,500	1,500
Accumulated amortization	(625)	(625)
Impairment	(875)	(875)
Intangible assets, net	0	0
Blockchain Integrated Framework Platform [Member]
Gross carrying value	4,038	4,038
Accumulated amortization	(2,187)	(1,346)
Impairment	(1,010)	(1,010)
Intangible assets, net	841	1,682
Bo!News Application [Member]
Gross carrying value	339	345
Accumulated amortization	(113)	(115)
Impairment	(226)	(230)
Intangible assets, net	0	0
Other Computer Software [Member]
Gross carrying value	111	113
Accumulated amortization	(111)	(113)
Impairment	0	0
Intangible assets, net	$ 0	$ 0

Note 2 - Variable Interest Entities

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022, respectively:

	As of December 31,
	2023		2022
	US$(’000)		US$(’000)
Assets
Current assets:
Cash and cash equivalents	$	367	$	578
Accounts receivable, net		844		1,745
Prepayment and deposit to suppliers		2,005		2,020
Due from related parties, net		-		-
Other current assets		2		2
Total current assets		3,218		4,345

Long-term investments, net		-		165
Operating lease right-of-use assets		-		145
Property and equipment, net		139		113
Deferred tax assets		401		406
Total Assets	$	3,758	$	5,174

Liabilities
Current liabilities:
Accounts payable	$	201	$	205
Advances from customers		843		515
Accrued payroll and other accruals		37		63
Taxes payable		2,555		2,602
Operating lease liabilities		-		146
Lease payment liabilities related to short-term leases		99		101
Other current liabilities		56		320
Total current liabilities		3,791		3,952

Operating lease liabilities-Non current		-		-
Total Liabilities	$	3,791	$	3,952

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, 2023 and 2022, respectively:

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)

Revenues	$	30,365	$	24,188
Cost of revenues		30,087		25,599
Total operating expenses		1,330		3,117
Net loss before allocation to noncontrolling interests		1,296		4,873

Note 11 - Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Intangible Assets Disclosure [Text Block]

11.

Intangible assets, net

	As of December 31, 2023
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		1,311		(909	)		(402	)		-
Licensed products use right		1,204		(496	)		(708	)		-

--5 years life:
Internet Ad tracking system		1,160		(637	)		(523	)		-
Live streaming technology		1,500		(625	)		(875	)		-

--3 years life:
Blockchain Integrated Framework		4,038		(2,187	)		(1,010	)		841
Bo!News application		339		(113	)		(226	)		-
Other computer software		111		(111	)		-			-
Total	$	9,663	$	(5,078	)	$	(3,744	)	$	841

	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

Amortization expenses in the aggregate for the years ended December 31, 2023 and 2022 were approximately US$1.19 million and US$2.12 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, 2023, the Company recorded approximately US$1.23 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, 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.

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 1 year as of December 31, 2023, and assuming no further subsequent impairment of the underlying intangible assets, the estimated future amortization expenses is approximately US$0.84 million for the year ending December 31, 2024.

Note 11 - Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

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

	As of December 31, 2023
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		1,311		(909	)		(402	)		-
Licensed products use right		1,204		(496	)		(708	)		-

--5 years life:
Internet Ad tracking system		1,160		(637	)		(523	)		-
Live streaming technology		1,500		(625	)		(875	)		-

--3 years life:
Blockchain Integrated Framework		4,038		(2,187	)		(1,010	)		841
Bo!News application		339		(113	)		(226	)		-
Other computer software		111		(111	)		-			-
Total	$	9,663	$	(5,078	)	$	(3,744	)	$	841

	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

Note 5 - Accounts Receivable, Net

12 Months Ended

Dec. 31, 2023

Accounts Receivable Disclosure [Text Block]

5.	Accounts receivable, net

	As of December 31,
	2023			2022
	US$(’000)			US$(’000)

Accounts receivable		4,831			5,505
Allowance for doubtful accounts		(3,987	)		(3,760	)
Accounts receivable, net		844			1,745

All of the accounts receivable are non-interest bearing. Based on the assessment of the collectability of the accounts receivable as of December 31, 2023 and 2022, the Company provided approximately US$3.99 million and US$3.76 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, 2023 and 2022, approximately US$0.25 million and US$1.76 million allowance for doubtful accounts was provided, respectively.

Note 9 - Long-term Investments - Summary of Long-term Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Balance as of January 1, 2022	$ 1,596	$ 2,280
Exchange translation adjustment	(7)	(88)
Disposed during the year	(426)	(596)
Cash investments during the year	64
Impairment on long-term investments	(433)	(596)
Balance as of December 31, 2022	$ 794	$ 1,596

Note 6 - Prepayments and Deposit to Suppliers (Details Textual)	12 Months Ended
	Dec. 31, 2023
Contractual Deposits, Term of Contract (Year)	1 year

Note 21 - Loss Per Share (Details Textual)	Jan. 18, 2023
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5

Note 11 - Intangible Assets, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Amortization of Intangible Assets	$ 1,190	$ 2,120
Impairment on intangible assets	$ 1,231	$ 2,123
Finite-Lived Intangible Asset, Useful Life (Year)	1 year
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 840

Note 15 - The Financing and Warrant Liabilities- Fair Value of Warrants (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Warrant Liabilities (US$’000)	$ 0	$ 185	$ 2,039
Investor Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0	0	0
Warrant Liabilities (US$’000)	$ 0	$ 86	$ 964
Investor Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		0	0
Warrant Liabilities (US$’000)		$ 76	$ 795
Placement Agent Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		0	0
Warrant Liabilities (US$’000)	$ 0	$ 14	$ 148
Placement Agent Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0	0	0
Warrant Liabilities (US$’000)	$ 0	$ 9	$ 132
Measurement Input, Share Price [Member] \| Investor Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0.83	0.46	1
Measurement Input, Share Price [Member] \| Investor Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		0.46	1
Measurement Input, Share Price [Member] \| Placement Agent Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		0.46	1
Measurement Input, Share Price [Member] \| Placement Agent Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0.83	0.46	1
Measurement Input, Expected Term [Member] \| Investor Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0.6	1.63	2.63
Measurement Input, Expected Term [Member] \| Investor Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		0.95	1.95
Measurement Input, Expected Term [Member] \| Placement Agent Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		0.95	1.95
Measurement Input, Expected Term [Member] \| Placement Agent Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0.6	1.63	2.63
Measurement Input, Risk Free Interest Rate [Member] \| Investor Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0.0513	0.04625	0.0087
Measurement Input, Risk Free Interest Rate [Member] \| Investor Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		0.04716	0.0072
Measurement Input, Risk Free Interest Rate [Member] \| Placement Agent Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		0.04716	0.0072
Measurement Input, Risk Free Interest Rate [Member] \| Placement Agent Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0.0513	0.04625	0.0087
Measurement Input, Price Volatility [Member] \| Investor Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0.82	0.9974	1.15
Measurement Input, Price Volatility [Member] \| Investor Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		1.1561	1.28
Measurement Input, Price Volatility [Member] \| Placement Agent Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		1.1561	1.28
Measurement Input, Price Volatility [Member] \| Placement Agent Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0.82	0.9974	1.15
Measurement Input, Exercise Price [Member] \| Investor Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	17.95	3.59	3.59
Measurement Input, Exercise Price [Member] \| Investor Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		2.03	2.03
Measurement Input, Exercise Price [Member] \| Placement Agent Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		2.03	2.03
Measurement Input, Exercise Price [Member] \| Placement Agent Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	22.4375	4.4875	4.4875
Measurement Input, Quoted Price [Member] \| Investor Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0	0.0329	0.37
Measurement Input, Quoted Price [Member] \| Investor Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		0.0439	0.46
Measurement Input, Quoted Price [Member] \| Placement Agent Warrants Issued in Connection with 2020 Financing [Member]
Fair value of the warrants		0.0456	0.49
Measurement Input, Quoted Price [Member] \| Placement Agent Warrants Issued in Connection with 2021 Financing [Member]
Fair value of the warrants	0	0.0256	0.36

Note 2 - Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Variable Interest Entities [Table Text Block]

	As of December 31,
	2023		2022
	US$(’000)		US$(’000)
Assets
Current assets:
Cash and cash equivalents	$	367	$	578
Accounts receivable, net		844		1,745
Prepayment and deposit to suppliers		2,005		2,020
Due from related parties, net		-		-
Other current assets		2		2
Total current assets		3,218		4,345

Long-term investments, net		-		165
Operating lease right-of-use assets		-		145
Property and equipment, net		139		113
Deferred tax assets		401		406
Total Assets	$	3,758	$	5,174

Liabilities
Current liabilities:
Accounts payable	$	201	$	205
Advances from customers		843		515
Accrued payroll and other accruals		37		63
Taxes payable		2,555		2,602
Operating lease liabilities		-		146
Lease payment liabilities related to short-term leases		99		101
Other current liabilities		56		320
Total current liabilities		3,791		3,952

Operating lease liabilities-Non current		-		-
Total Liabilities	$	3,791	$	3,952

Financial Performance of VIEs [Table Text Block]

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)

Revenues	$	30,365	$	24,188
Cost of revenues		30,087		25,599
Total operating expenses		1,330		3,117
Net loss before allocation to noncontrolling interests		1,296		4,873

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 8 - Other Current Assets, Net - Summary of Other Current Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Short-term loans to unrelated parties	$ 4,097	$ 2,197
Short-term loans interest receivables	250	22
Staff advances for business operations	5	8
Total other current assets	4,352	2,227
Allowance for doubtful accounts	(1,558)	(617)
Other current assets, net	$ 2,794	$ 1,610

Note 19 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Text Block]

19.

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.

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss, Current	$ 3,987	$ 3,760
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized (in shares)	20,000,000	20,000,000
Common Stock, Shares, Issued (in shares)	7,204,506	7,174,506
Common Stock, Shares, Outstanding (in shares)	7,204,506	7,174,506

Note 20 - Segment Reporting - Summary of Segment Reporting Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues	$ 30,585	$ 26,235
Cost of revenues	31,021	26,429
Total operating expenses	5,576	10,925
Depreciation and amortization expenses included in cost of revenues and operating expenses	1,288	2,215
Impairment on intangible assets	1,231	2,123
Impairment on intangible assets included in operating expenses	1,231	2,123
Loss from operations	(6,012)	(11,119)
Other than Temporary Impairment Losses, Investments	433	596
Change in fair value of warrant liabilities	185	1,854
Net loss	(5,974)	(9,791)
Total assets-December 31, 2023	11,233	19,658
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Revenues		0
Cost of revenues		0
Total operating expenses	3,177	3,713
Depreciation and amortization expenses included in cost of revenues and operating expenses	81	84
Impairment on intangible assets	0	0
Impairment on intangible assets included in operating expenses	0	0
Loss from operations	(3,177)	(3,713)
Other than Temporary Impairment Losses, Investments	433	520
Change in fair value of warrant liabilities	185	1,854
Net loss	(3,117)	(2,254)
Total assets-December 31, 2023	34,867	39,136
Intersegment Eliminations [Member]
Revenues	0	0
Cost of revenues	0	0
Total operating expenses	0	0
Depreciation and amortization expenses included in cost of revenues and operating expenses	0	0
Impairment on intangible assets	0	0
Impairment on intangible assets included in operating expenses	0	0
Loss from operations	0	0
Other than Temporary Impairment Losses, Investments	0	0
Change in fair value of warrant liabilities	0	0
Net loss	0	0
Total assets-December 31, 2023	(32,585)	(31,701)
Internet Ad [Member] \| Operating Segments [Member]
Revenues	30,510
Cost of revenues	30,180
Total operating expenses	2,388
Depreciation and amortization expenses included in cost of revenues and operating expenses	366
Impairment on intangible assets	1,231
Impairment on intangible assets included in operating expenses	1,231
Loss from operations	(2,058)
Other than Temporary Impairment Losses, Investments	0
Change in fair value of warrant liabilities	0
Net loss	(2,085)
Total assets-December 31, 2023	7,966
Internet Advertising and TV Advertising [Member] \| Operating Segments [Member]
Revenues		25,810
Cost of revenues		26,093
Total operating expenses		3,072
Depreciation and amortization expenses included in cost of revenues and operating expenses		366
Impairment on intangible assets		0
Impairment on intangible assets included in operating expenses		0
Loss from operations		(3,355)
Other than Temporary Impairment Losses, Investments		76
Change in fair value of warrant liabilities		0
Net loss		(3,485)
Total assets-December 31, 2023		10,385
Ecommerce O2O Ad and Marketing Services [Member] \| Operating Segments [Member]
Revenues	0	0
Cost of revenues	0	0
Total operating expenses	11	1,764
Depreciation and amortization expenses included in cost of revenues and operating expenses	0	300
Impairment on intangible assets	0	875
Impairment on intangible assets included in operating expenses	0	875
Loss from operations	(11)	(1,764)
Other than Temporary Impairment Losses, Investments	0	0
Change in fair value of warrant liabilities	0	0
Net loss	(6)	(1,764)
Total assets-December 31, 2023	144	156
Blockchain Technology [Member] \| Operating Segments [Member]
Revenues	75	425
Cost of revenues	841	336
Total operating expenses	0	2,376
Depreciation and amortization expenses included in cost of revenues and operating expenses	841	1,465
Impairment on intangible assets	0	1,248
Impairment on intangible assets included in operating expenses	0	1,248
Loss from operations	(766)	(2,287)
Other than Temporary Impairment Losses, Investments	0	0
Change in fair value of warrant liabilities	0	0
Net loss	(766)	(2,288)
Total assets-December 31, 2023	$ 841	$ 1,682

Note 5 - Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts receivable	$ 4,831	$ 5,505
Allowance for doubtful accounts	(3,987)	(3,760)
Accounts receivable, net	$ 844	$ 1,745

Note 13 - Taxation (Details Textual) $ in Thousands, $ in Millions		3 Months Ended	12 Months Ended
	Apr. 01, 2018 HKD ($)	Apr. 01, 2018	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021
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			$ 32,300	$ 31,800
Operating Loss Carryforwards, Taxable Income Deduction Limitations			80.00%
Deferred Tax Assets, Valuation Allowance			$ 12,303	12,691
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount			$ 350	$ 830
Minimum [Member]
PRC Value Added Tax Surcharge Rate			12.00%
PRC [Member]
PRC Value Added Tax Rate for Modern Service Provided			6.00%
PRC Value Added Tax Rate for Modern Service Provided Small Scale Tax Payer			3.00%
Other PRC Operating Entities [Member] \| PRC [Member]
Applicable Income Tax Rate	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			$ 10,600	$ 15,400
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%

Note 17 - Employee Defined Contribution Plan

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Text Block]

17.

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$0.16 million and US$0.22 million for the years ended December 31, 2023 and 2022, respectively.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Note 10 - Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Property and Equipment [Table Text Block]

	As of December 31,
	2023			2022
	US$(’000)			US$(’000)

Vehicles		520			855
Office equipment		846			865
Electronic devices		571			575
Leasehold improvement		182			185
Property and equipment, cost		2,119			2,480
Less: accumulated depreciation		(1,904	)		(2,231	)
Property and equipment, net		215			249

Note 15 - The Financing and Warrant Liabilities

12 Months Ended

Dec. 31, 2023

Warrants Disclosure [Text Block]

15.

The Financing and warrant liabilities

The Company consummated 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 February 2021 (the “2021 Financing”) and December 2020 (the “2020 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. The warrants issued in the 2021 Financing and the 2020 (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.

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, 2023			December 31, 2022			December 31, 2021			December 31, 2023			December 31, 2022			December 31, 2021

Stock price #	$	0.83		$	0.46		$	1.00		$	0.83		$	0.46		$	1.00
Years to maturity		0.6			1.63			2.63			0.6			1.63			2.63
Risk-free interest rate		5.13	%		4.625	%		0.87	%		5.13	%		4.625	%		0.87	%
Dividend yield		-			-			-			-			-			-
Expected volatility		82	%		99.74	%		115	%		82	%		99.74	%		115	%
Exercise Price #	$	17.95		$	3.59		$	3.59		$	22.4375		$	4.4875		$	4.4875

Fair value of the warrant	$	-		$	0.0329		$	0.37		$	-		$	0.0256		$	0.36

Warrant Liabilities (US$’000)	$	-		$	86		$	964		$	-		$	9		$	132

Warrants issued in the 2020 Financing

	2020 Investors Warrants							2020 Placement Agent Warrants
	December 31, 2023*	December 31, 2022			December 31, 2021			December 31, 2023*	December 31, 2022			December 31, 2021

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

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

Warrant Liabilities (US$’000)		$	76		$	795			$	14		$	148

# 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 for the year ended December 31, 2022 and December 2021 were not retrospectively restated for effect of the 1-for-5 reverse stock split on January 18, 2023, see Note 4(l). However, the stock prices and exercise prices presented for the year ended December 31, 2023 does reflect the 1-for-5 reverse stock split on January 18, 2023.

* The investor and placement agent warrants issued in 2020 expired during the year ended December 31, 2023.

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, 2023

	As of December 31, 2023		As of December 31, 2022		Change in Fair Value (Gain)/Loss
	(US$’000)		(US$’000)		(US$’000)

Warrants issued in the 2021 Financing:
--Investor warrants		-		86		(86	)
--Placement agent warrants		-		9		(9	)
Warrants issued in the 2020 Financing:
--Investor warrants		-		76		(76	)
--Placement agent warrants		-		14		(14	)
Warrant liabilities		-		185		(185	)

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	)

Warrants issued and outstanding on December 31, 2023 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, 2022		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
Issued/Vested		-							-
Exercised		-
Expired		(406,175	)			$	10.15		(406,175	)			$	10.15
Balance, December 31, 2023		594,168			0.63	$	18.50		594,168			0.63	$	18.50

** 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 2 - Variable Interest Entities - Consolidated VIEs' Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash and cash equivalents	$ 817	$ 4,391
Accounts receivable, net	844	1,745
Prepayment and deposit to suppliers	4,505	4,567
Other current assets	2,794	1,610
Total current assets	8,960	12,313
Long-term investments, net	794	1,596
Operating lease right-of-use assets	22	1,761	$ 1,760
Property and equipment, net	215	249
Deferred tax assets	401	406
Total Assets	11,233	19,658
Accounts payable	201	205
Advances from customers	843	739
Accrued payroll and other accruals	350	438
Taxes payable	3,194	3,248
Operating lease liabilities	24	347
Lease payment liabilities related to short-term leases	99	101
Other current liabilities	144	437
Total current liabilities	4,855	5,700
Operating lease liabilities-Non current	0	1,535
Total Liabilities	4,979	7,361
Variable Interest Entity, Primary Beneficiary [Member]
Cash and cash equivalents	367	578
Prepayment and deposit to suppliers	2,005	2,020
Other current assets	2	2
Total current assets	3,218	4,345
Long-term investments, net	0	165
Operating lease right-of-use assets	0	145
Property and equipment, net	139	113
Deferred tax assets	401	406
Total Assets	3,758	5,174
Accounts payable	201	205
Advances from customers	843	515
Accrued payroll and other accruals	37	63
Taxes payable	2,555	2,602
Operating lease liabilities	0	146
Lease payment liabilities related to short-term leases	99	101
Other current liabilities	56	320
Total current liabilities	3,791	3,952
Operating lease liabilities-Non current	0	0
Total Liabilities	3,791	3,952
Variable Interest Entity, Primary Beneficiary [Member] \| Nonrelated Party [Member]
Accounts receivable, net	844	1,745
Variable Interest Entity, Primary Beneficiary [Member] \| Related Party [Member]
Accounts receivable, net	$ 0	$ 0

Note 10 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property and equipment, cost	$ 2,119	$ 2,480
Less: accumulated depreciation	(1,904)	(2,231)
Property and equipment, net	215	249
Vehicles [Member]
Property and equipment, cost	520	855
Office Equipment [Member]
Property and equipment, cost	846	865
Electronic Devices [Member]
Property and equipment, cost	571	575
Leasehold Improvements [Member]
Property and equipment, cost	$ 182	$ 185

Note 15 - The Financing and Warrant Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Warrant Liabilities [Table Text Block]

	As of December 31, 2023		As of December 31, 2022		Change in Fair Value (Gain)/Loss
	(US$’000)		(US$’000)		(US$’000)

Warrants issued in the 2021 Financing:
--Investor warrants		-		86		(86	)
--Placement agent warrants		-		9		(9	)
Warrants issued in the 2020 Financing:
--Investor warrants		-		76		(76	)
--Placement agent warrants		-		14		(14	)
Warrant liabilities		-		185		(185	)

	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	)

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, 2022		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
Issued/Vested		-							-
Exercised		-
Expired		(406,175	)			$	10.15		(406,175	)			$	10.15
Balance, December 31, 2023		594,168			0.63	$	18.50		594,168			0.63	$	18.50

Warrant [Member]

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

	2021 Investors Warrants									2021 Placement Agent Warrants
	December 31, 2023			December 31, 2022			December 31, 2021			December 31, 2023			December 31, 2022			December 31, 2021

Stock price #	$	0.83		$	0.46		$	1.00		$	0.83		$	0.46		$	1.00
Years to maturity		0.6			1.63			2.63			0.6			1.63			2.63
Risk-free interest rate		5.13	%		4.625	%		0.87	%		5.13	%		4.625	%		0.87	%
Dividend yield		-			-			-			-			-			-
Expected volatility		82	%		99.74	%		115	%		82	%		99.74	%		115	%
Exercise Price #	$	17.95		$	3.59		$	3.59		$	22.4375		$	4.4875		$	4.4875

Fair value of the warrant	$	-		$	0.0329		$	0.37		$	-		$	0.0256		$	0.36

Warrant Liabilities (US$’000)	$	-		$	86		$	964		$	-		$	9		$	132

	2020 Investors Warrants							2020 Placement Agent Warrants
	December 31, 2023*	December 31, 2022			December 31, 2021			December 31, 2023*	December 31, 2022			December 31, 2021

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

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

Warrant Liabilities (US$’000)		$	76		$	795			$	14		$	148

Note 2 - Variable Interest Entities - Consolidated VIEs' Financial Performance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues	$ 30,585	$ 26,235
Cost of revenues	31,021	26,429
Total operating expenses	5,576	10,925
Net loss before allocation to noncontrolling interests	(5,974)	(9,791)
Variable Interest Entity, Primary Beneficiary [Member]
Revenues	30,365	24,188
Cost of revenues	30,087	25,599
Total operating expenses	1,330	3,117
Net loss before allocation to noncontrolling interests	$ 1,296	$ 4,873

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

Note 8 - Other Current Assets, Net

12 Months Ended

Dec. 31, 2023

Other Current Assets [Text Block]

8.	Other current assets, net

	December 31, 2023			December 31, 2022
	US$(’000)			US$(’000)

Short-term loans to unrelated parties		4,097			2,197
Short-term loans interest receivables		250			22
Staff advances for business operations		5			8
Total other current assets		4,352			2,227
Allowance for doubtful accounts		(1,558	)		(617	)
Other current assets, net		2,794			1,610

In fiscal 2023, the Company provided unsecured, interest-bearing short-term working capital loans to three 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 matured on May 5, 2022. The loan was unsecured and borne a fixed annualized interest rate of 7.5%. In April 2022, as agreed by both parties, 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. The Company extended the term of the remaining loan principal of US$1.48 million to April 30, 2023 with a revised fixed annualized interest rate of 5%. In October 2022 and February 2023, the Company received loan interests of US$0.05 million in the aggregate for the period from May 1, 2022 through December 31, 2022. On April 30, 2023, the Company further extended the term of this loan to October 31, 2023. In May 2023, the Company received a loan interest of US$0.02 million for the period from January 1, 2023 through April 30, 2023. In July 2023, the Company received a loan interest of US$0.02 million for the period from May 1, 2023 through July 31, 2023. On October 31, 2023, the Company agreed to further extend the term of this loan to September 30, 2024. On May 29, 2024, the Company received payment of approximately US$0.13 million, of which approximately US$0.05 million settled outstanding interest and approximately US$0.08 million settled the loan principal.

On January 11, 2023, the Company provided a short-term loan of US$2.0 million to another unrelated party. The loan is unsecured and bears a fixed annualized interest rate of 12%. The original maturity date of this loan was July 17, 2023. On July 1, 2023, the Company extended the term of this loan for a six-month period to January 18, 2024. And on January 8, 2024, the Company further agreed to extend the term of the loan to January 18, 2025. On May 28, 2024, the Company received loan interest of approximately US$0.26 million.

The Company evaluates its short-term loans provided to unrelated parties for expected credit losses on a regular basis, and maintains an estimated allowance for credit losses to reduce its short-term loans to the amount that it believes will be collected. The Company evaluates its short-term loans on an individual basis and determines the allowance for credit loss based on creditworthiness of the borrowers, aging information, past transaction history with the borrowers and their current condition, as well as the current economic conditions and reasonable and supportable forecasts of future economic conditions. For the years ended December 31, 2023 and 2022, the Company provided US$0.79 million and US$0.62 million credit losses on short-term loans provided to unrelated parties, respectively.

As of December 31, 2023, 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 13 - Taxation

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Text Block]

13.

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, 2023 and 2022, 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, 2023 and 2022.

●

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, 2023 and 2022, 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, 2023, and 2022, taxes payable consists of:

	As of December 31,
	2023		2022
	US$(’000)		US$(’000)

Turnover tax and surcharge payable		1,264		1,288
Enterprise income tax payable		1,930		1,960
Taxes payable		3,194		3,248

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,
	2023			2022
	US$(’000)			US$(’000)

Pre-tax loss		(5,976	)		(9,794	)
U.S. federal rate		21	%		21	%
Income tax benefit computed at U.S. federal rate		1,255			2,057
Reconciling items:
Rate differential for foreign earnings		(55	)		(4	)
Tax effect on non-taxable change in fair value of warrant liabilities		39			389
Provision of valuation allowance on deferred tax assets		353			(833	)
Expired tax attribute carryforwards		(1,583	)		(1,528	)
Tax effect on other (non-deductible expenses)/non-taxable income		(7	)		(78	)
Effective income tax benefit/(expense)		2			3

For the years ended December 31, 2023 and 2022, the Company’s income tax (benefit)/expense consisted of:

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)

Current		-		-
Deferred		2		3
Income tax benefit/(expense)		2		3

The Company’s deferred tax assets at December 31, 2023 and 2022 were as follows:

	As of December 31,
	2023			2022
	US$(’000)			US$(’000)

Tax effect of net operating losses carried forward		10,745			11,537
Operating lease cost		1			30
Impairment on long-term investments		161			144
Impairment on intangible assets		571			368
Bad debts provision		1,226			1,018
Valuation allowance		(12,303	)		(12,691	)
Deferred tax assets, net		401			406

The U.S. holding company has incurred aggregate net operating losses (NOLs) of approximately US$32.3 million and US$31.8 million at December 31, 2023 and 2022, 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$10.6 million and US$15.4 million at December 31, 2023 and 2022, 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$12.3 million and US$12.7 million valuation allowance as of December 31, 2023 and 2022, 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, 2023 and 2022, total net deferred tax assets valuation allowance reversed was approximately US$0.35 million and total deferred tax assets valuation allowance provided was approximately US$$0.83 million, respectively.

The entire disclosure for income tax.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Consolidated Statements of Cash Flows (Parentheticals) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Payments of Stock Issuance Costs	$ 1.6

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

12 Months Ended

Dec. 31, 2023

	As of December 31,
	2023		2022
	US$(’000)		US$(’000)

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

Note 4 - Summary of Significant Accounting Policies - Allowance for Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Balance as of beginning of the period	$ 3,760	$ 2,236
Balance as of beginning of the period	617	0
Provision for/(reverse of) credit loss during the period	246	1,763
Provision for credit loss during the period	787	617
Written off during the period	0	0
Written off during the period	0	0
Exchange translation adjustments	(55)	(239)
Exchange translation adjustments	0	0
Balance as of end of the period	3,987	3,760
Balance as of end of the period	1,559	617
Accounting Standards Update 2016-13 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance as of beginning of the period	36	0
Balance as of beginning of the period	$ 155	0
Balance as of end of the period		36
Balance as of end of the period		$ 155

Note 13 - Taxation - Reconciliation of the Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pre-tax loss	$ (5,976)	$ (9,794)
U.S. federal rate	21.00%	21.00%
Income tax benefit computed at U.S. federal rate	$ 1,255	$ 2,057
Rate differential for foreign earnings	(55)	(4)
Tax effect on non-taxable change in fair value of warrant liabilities	39	389
Provision of valuation allowance on deferred tax assets	353	(833)
Expired tax attribute carryforwards	(1,583)	(1,528)
Tax effect on other (non-deductible expenses)/non-taxable income	(7)	(78)
Effective income tax benefit/(expense)	$ (2)	$ (3)

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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

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Note 18 - Concentration of Risk (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023

Revenues, customer concentration risk

Year Ended December 31, 2022

Revenues, customer concentration risk

As of December 31, 2023

Accounts receivable, customer concentration risk

11%

56%

19%

As of December 31, 2022

Accounts receivable, customer concentration risk

16%

33%

24%

16%

Supplier
A

Supplier
B

Supplier
C

Supplier
D

Year Ended December 31, 2023

Cost of revenues, supplier concentration risk

65%

17%

Year Ended December 31, 2022

Cost of revenues, supplier concentration risk

57%

20%

Note 22 - Share-based Compensation Expenses (Tables)

12 Months Ended

Dec. 31, 2023

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

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)

Sales and marketing expenses		-		-
General and administrative expenses		108		186
Research and development expenses		-		-
Total		108		186

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets, Current [Abstract]
Cash and cash equivalents	$ 817	$ 4,391
Accounts receivable, net of allowance for doubtful accounts of $3,987 and $3,760 respectively	844	1,745
Prepayment and deposit to suppliers	4,505	4,567
Other current assets, net	2,794	1,610
Total current assets	8,960	12,313
Long-term investments, net	794	1,596
Operating lease right-of-use assets	22	1,761
Property and equipment, net	215	249
Intangible assets, net	841	3,264
Long-term deposits and prepayments	0	69
Deferred tax assets, net	401	406
Total Assets	11,233	19,658
Liabilities, Current [Abstract]
Accounts payable *	201	205
Advances from customers *	843	739
Accrued payroll and other accruals *	350	438
Taxes payable *	3,194	3,248
Operating lease liabilities *	24	347
Lease payment liabilities related to short-term leases *	99	101
Other current liabilities *	144	437
Warrant liabilities	0	185
Total current liabilities	4,855	5,700
Long-term liabilities:
Operating lease liabilities-Non current *	0	1,535
Total Liabilities	4,979	7,361
Commitments and Contingencies
Equity:
Common stock (US$0.001 par value; authorized 20,000,000 shares; issued and outstanding 7,204,506 shares and 7,174,506 shares at December 31, 2023 and 2022, respectively)	7	7
Additional paid-in capital	62,067	62,017
Statutory reserves	2,598	2,598
Accumulated deficit	(59,690)	(53,525)
Accumulated other comprehensive income	1,272	1,200
Total ZW Data Action Technologies Inc.’s stockholders’ equity	6,254	12,297
Noncontrolling interests	0	0
Total equity	6,254	12,297
Total Liabilities and Equity	11,233	19,658
Related Party [Member]
Long-term liabilities:
Long-term borrowing from a related party	$ 124	$ 126

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2023	Jun. 28, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-34647
Entity Registrant Name	ZW Data Action Technologies Inc.
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
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 7,507,992
Entity Common Stock, Shares Outstanding (in shares)		7,204,506
Auditor Firm ID	3299
Auditor Name	ARK Pro CPA & Co
Auditor Location	Hong Kong, China
Entity Central Index Key	0001376321
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Note 12 - Accrued Payroll and Other Accruals - Accrued Payroll and Other Accruals (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued payroll and other accruals *	$ 350	$ 438
Accrued Payroll and Staff Welfare [Member]
Accrued payroll and other accruals *	67	101
Accrued Operating Expenses [Member]
Accrued payroll and other accruals *	$ 283	$ 337

Note 3 - Liquidity and Capital Resource and Going Concern Evaluation

12 Months Ended

Dec. 31, 2023

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

3.	Liquidity and capital resource and going concern evaluation

For the years ended December 31, 2023 and 2022, the Company incurred a loss from operations of US$6.01 million and US$11.12 million, respectively. Net operating cash outflow for the years ended December 31, 2023 and 2022 was US$2.01 million and US$3.19 million, respectively. As of December 31, 2023, the Company had cash and cash equivalents of US$0.82 million and working capital of US$4.11 million.

The Company experienced increased 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, 2023. The increase in revenue was primarily attributable to the recovery of the general economy from the lifting of COVID-19 related restrictions. This in turn improved the advertising investment budgets and advertising service demands of our SME clients when compared to 2022.

However, our business and results of operations are still materially and adversely effected by the challenging macroeconomic environment in the PRC which adversely 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 and our ability to negotiate favorable operating margins. As a result, the Company has been relying on proceeds generated from prior financing activities for its liquidity in fiscal 2023. In 2024, the Chinese Government implemented various stimulus programs to boost the Chinese economy through improving industrial output, increasing consumer spending and supporting the property sector. Although there remain uncertainties as to the future macroeconomic environment in the PRC, the Company anticipates a slow recovery of performance and improvement of cash flow status of its core business beginning in the second half of 2024.

In order to improve operation performance, the Company continues 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 economic downturn in the PRC 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.

Note 15 - The Financing and Warrant Liabilities (Details Textual)	Jan. 18, 2023	Dec. 14, 2020
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5
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%

Insider Trading Arrangements

12 Months Ended

Dec. 31, 2023

Insider Trading Arr Line Items

Material Terms of Trading Arrangement [Text Block]

ITEM 9B.

OTHER INFORMATION

None.

Rule 10b5-1 Arrangement Adopted [Flag]

false

Non-Rule 10b5-1 Arrangement Adopted [Flag]

false

Rule 10b5-1 Arrangement Terminated [Flag]

false

Non-Rule 10b5-1 Arrangement Terminated [Flag]

false

Note 6 - Prepayments and Deposit to Suppliers - Prepayments and Deposit to Suppliers (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prepayment and deposit to suppliers	$ 4,505	$ 4,567
Deposits to TV Ad and Internet Ad Resources Providers [Member]
Prepayment and deposit to suppliers	911	1,077
Prepayment to TV Ad and Internet Ad Resources Providers [Member]
Prepayment and deposit to suppliers	3,136	3,036
Deposits and Prepayments for Potential Investing Contracts [Member]
Prepayment and deposit to suppliers	0	0
Other Deposits and Prepayments [Member]
Prepayment and deposit to suppliers	$ 458	$ 454

Note 13 - Taxation - Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Tax effect of net operating losses carried forward	$ 10,745	$ 11,537
Operating lease cost	1	30
Impairment on long-term investments	161	144
Impairment on intangible assets	571	368
Bad debts provision	1,226	1,018
Valuation allowance	(12,303)	(12,691)
Deferred tax assets, net	$ 401	$ 406

Note 14 - Long-term Borrowing From a Related Party

12 Months Ended

Dec. 31, 2023

Long-Term Borrowing from Director Disclosure [Text Block]

14.

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

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

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

$ (5,974)

$ (9,791)

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

^[1]

7,194,890

7,136,290

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

^[1]

$ (0.83)

$ (1.37)

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

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

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 1 - Organization and Nature of Operations

12 Months Ended

Dec. 31, 2023

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, 2023, the Company’s consolidated subsidiaries, VIEs and VIEs’ subsidiaries are summarized as follows:

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	100%	Investment holding company

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

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

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
ChinaNet Yun Chuang (Guangzhou) Media Technology Co., Ltd. (“ChinaNet Yun Chuang”)	PRC July 27 2023	VIE’s subsidiary	Providing online-content production, distribution, promotion, and live streamer training and management services

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

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

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.

Use of Estimates, Policy [Policy Text Block]

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.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

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,
	2023		2022
Balance sheet items, except for equity accounts		7.0827		6.9646

	Year Ended December 31,
	2023		2022
Items in the statements of operations and comprehensive loss		7.0467		6.7261

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

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, 2023, US$0.42 million of the Company’s cash was held in accounts at financial institutions located in the U.S., and the remaining US$0.40 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, 2023, the Company did not transfer any cash to its operating subsidiaries. One of the Company’s subsidiaries paid US$0.79 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, 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 years ended December 31, 2023 and 2022, the Company’s operating subsidiaries transferred US$0.55 million and US$0.34 million cash to the consolidated VIEs in form of loans, respectively.

For the years ended December 31, 2023 and 2022, 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

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, 2023, the Company recorded approximately US$0.25 million of allowance for doubtful accounts against its accounts receivable. For the year ended December 31, 2022, the Company recorded approximately US$1.76 million of allowance for doubtful accounts against its accounts receivable.

Investment, Policy [Policy Text Block]

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, 2023, the Company recorded approximately US$0.43 million impairment loss associated with its long-term investments. For the year ended December 31, 2022, the Company recorded approximately US$0.60 million impairment loss associated with its long-term investments.

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

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	3 years
Vehicles	5 years
Office equipment	3-5 years
Electronic devices	5 years

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.

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

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.

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

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, 2023, the Company recorded aggregately US$1.23 million impairment loss associated with its intangible assets. For the year ended December 31, 2022, the Company recorded aggregately US$2.12 million impairment loss associated with its intangible assets.

Fair Value Measurement, Policy [Policy Text Block]

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, 2023 and 2022 is as follows:

Fair value measurement at reporting date using

As of

December 31, 2023

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

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

Significant unobservable inputs utilized to determine the fair value of the Company’s warrant liabilities was disclosed in Note 15.

Stockholders' Equity, Policy [Policy Text Block]

Reverse stock split

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”). As a result, the number of shares of the Company’s authorized Common Stock was reduced from 100,000,000 shares to 20,000,000 shares and the issued and outstanding number of shares of the Common Stock was correspondingly decreased. The Reverse Stock Split has no effect on the par value of the Company’s Common Stock or authorized shares of preferred stock.

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.

Revenue from Contract with Customer [Policy Text Block]

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, 2023 and 2022.

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,
	2023		2022
	US$(’000)		US$(’000)
Internet advertising and related service
--distribution of the right to use search engine marketing service		30,510		22,262
--online advertising placements		-		3,548
Ecommerce O2O advertising and marketing services		-		-
Blockchain-based SaaS services		75		425
Total revenues	$	30,585	$	26,235

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)
Revenue recognized over time		30,585		25,835
Revenue recognized at a point in time		-		400
Total revenues	$	30,585	$	26,235

Contract costs

For the years ended December 31, 2023 and 2022, 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, 2023:

	Contract liabilities
	US$(’000)

Balance as of January 1, 2022		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
Exchange translation adjustment		(10	)
Revenue recognized from beginning contract liability balance		(670	)
Advances received from customers related to unsatisfied performance obligations		784
Balance as of December 31, 2023		843

For the years ended December 31, 2023 and 2022, 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, 2023 and 2022, because all performance obligations of the Company’s contracts with customers have an original expected duration of one year or less.

Cost of Goods and Service [Policy Text Block]

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.

Research and Development Expense, Policy [Policy Text Block]

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, 2023 and 2022 were approximately US$0.02 million and US$0.23 million, respectively.

Lessee, Leases [Policy Text Block]

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, 2023 and 2022, lease payments liability related to these short-term leases was approximately US$0.10 million and US$0.10 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, 2023, operating lease right-of-use assets and total operating lease liabilities recognized was approximately US$0.02 million and US$0.02 million, respectively.

Maturity of operating lease liabilities

	Operating leases
	US$(’000)
Year ending December 31,
-2024		25
-2025		-
-2026		-
-2027		-
-thereafter		-
Total undiscounted lease payments		25
Less: imputed interest		(1	)
Operating lease liabilities as of December 31, 2023	$	24

Including:
Operating lease liabilities		24
Operating lease liabilities-Non current		-
	$	24

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.

Operating lease expenses:

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)

Long-term operating lease contracts		326		459
Short-term operating lease contracts		31		48
Total		357		507

Supplemental information related to operating leases:

	Year Ended December 31,
	2023			2022

Operating cash flows used for operating leases (US$’000)		498			361
Right-of-use assets obtained in exchange for new lease liabilities (US$’000)		-			252
Weighted-average remaining lease term (years)		0.08			5.75
Weighted-average discount rate		6	%		6	%

Income Tax, Policy [Policy Text Block]

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.

Income Tax Uncertainties, Policy [Policy Text Block]

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, 2023 and 2022 and did not have any significant unrecognized uncertain tax positions as of December 31, 2023 or 2022.

Share-Based Payment Arrangement [Policy Text Block]

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.

Comprehensive Income, Policy [Policy Text Block]

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.

Earnings Per Share, Policy [Policy Text Block]

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.

Commitments and Contingencies, Policy [Policy Text Block]

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.

Credit Loss, Financial Instrument [Policy Text Block]

Current expected credit losses

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, which replace the existing incurred loss impairment model with an expected loss methodology. The Company, as a SEC smaller reporting company, has adopted the amendments in this ASU from January 1, 2023, using a modified retrospective transition method and did not restate the related accounts in the comparable period. Instead, the Company recognized a cumulative-effect adjustment to increase the opening balance of its accumulated deficit on January 1, 2023 by US$0.19 million, of which US$0.04 million was related to the cumulative-effect adjustment to allowance for credit loss of accounts receivable, and the remaining US$0.15 million was related to the cumulative-effect adjustment to allowance for credit loss of other current assets, which primarily consisted of short-term loans the Company provided to unrelated parties.

The allowance for credit losses reflects the Company's current estimate of credit losses expected to be incurred over the life of the related financial assets. The allowance for credit losses is presented as a valuation account that is deducted from the amortized cost basis of financial asset(s) to present the net amount expected to be collected on the financial asset(s).

The Company considers various factors in establishing, monitoring, and adjusting its allowance for credit losses, including the aging and aging trends, customer/other parties’ creditworthiness and specific exposures related to particular customers/other parties. The Company also monitors other risk factors and forward-looking information, such as country specific risks and economic factors that may affect a customer/other party’s ability to pay in establishing and adjusting its allowance for credit losses. The Company assesses collectability by reviewing the financial assets on a collective basis where similar characteristics exist and on an individual basis when the Company identifies specific customers/other parties with known disputes or collectability issues. Accounts receivable and short-term loans to unrelated parties are written off after all collection efforts have ceased.

The following tables summarized the movements of the Company’s credit losses as of December 31, 2023 and 2022, respectively:

	Year Ended December 31,
	2023			2022
	US$(’000)			US$(’000)
	(Unaudited)			(Unaudited)
*Credit loss for accounts receivable:*

Balance as of beginning of the period		3,760			2,236
Cumulative-effect adjustment upon adoption of ASU No. 2016-13, Financial Instruments-Credit losses (Topic 326)		36			-
Provision for/(reverse of) credit loss during the period		246			1,763
Written off during the period		-			-
Exchange translation adjustments		(55	)		(239	)
Balance as of end of the period		3,987			3,760

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)
	(Unaudited)		(Unaudited)
*Credit loss for other current assets:*

Balance as of beginning of the period		617		-
Cumulative-effect adjustment upon adoption of ASU No. 2016-13, Financial Instruments-Credit losses (Topic 326)		155		-
Provision for credit loss during the period		787		617
Written off during the period		-		-
Exchange translation adjustments		-		-
Balance as of end of the period		1,559		617

Note 4 - Summary of Significant Accounting Policies - Summary of Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Warrant liabilities	$ 0	$ 185
Fair Value, Recurring [Member]
Warrant liabilities	0	185
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Warrant liabilities	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Warrant liabilities	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Warrant liabilities	$ 0	$ 185

Note 10 - Property and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment Disclosure [Text Block]

10.

Property and equipment, net

	As of December 31,
	2023			2022
	US$(’000)			US$(’000)

Vehicles		520			855
Office equipment		846			865
Electronic devices		571			575
Leasehold improvement		182			185
Property and equipment, cost		2,119			2,480
Less: accumulated depreciation		(1,904	)		(2,231	)
Property and equipment, net		215			249

Depreciation expenses in the aggregate for the years ended December 31, 2023 and 2022 were approximately US$0.09 million and US$0.10 million, respectively.

Note 6 - Prepayments and Deposit to Suppliers

12 Months Ended

Dec. 31, 2023

Prepayments and Deposits to Suppliers Disclosure [Text Block]

6.	Prepayments and deposit to suppliers

	As of December 31,
	2023		2022
	US$(’000)		US$(’000)

Deposits to advertising resources providers		911		1,077
Prepayments to advertising resources providers		3,136		3,036
Deposit for a potential investing contract		-		-
Other deposits and prepayments		458		454
		4,505		4,567

As of December 31, 2023 and 2022, 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, 2023 and 2022, 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, 2023 and 2022 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.

Note 7 - Due from Related Parties, Net (Details Textual) - Guangzhou Gong Xiang Technology Co. [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Due from related parties, total	$ 0	$ 14
Related Party, Working Capital Loan [Member]
Due from related parties, total		$ 40

Note 16 - Restricted Net Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries	$ 13,410	$ 13,310
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 - Taxation - Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Current	$ 0	$ 0
Deferred	2	3
Income tax benefit/(expense)	$ 2	$ 3

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

Note 4 - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Foreign Currency Exchange Rates [Table Text Block]

	As of December 31,
	2023		2022
Balance sheet items, except for equity accounts		7.0827		6.9646

	Year Ended December 31,
	2023		2022
Items in the statements of operations and comprehensive loss		7.0467		6.7261

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

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

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

Fair value measurement at reporting date using

As of

December 31, 2023

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

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

Disaggregation of Revenue [Table Text Block]

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)
Internet advertising and related service
--distribution of the right to use search engine marketing service		30,510		22,262
--online advertising placements		-		3,548
Ecommerce O2O advertising and marketing services		-		-
Blockchain-based SaaS services		75		425
Total revenues	$	30,585	$	26,235

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)
Revenue recognized over time		30,585		25,835
Revenue recognized at a point in time		-		400
Total revenues	$	30,585	$	26,235

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

	Contract liabilities
	US$(’000)

Balance as of January 1, 2022		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
Exchange translation adjustment		(10	)
Revenue recognized from beginning contract liability balance		(670	)
Advances received from customers related to unsatisfied performance obligations		784
Balance as of December 31, 2023		843

Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

	Operating leases
	US$(’000)
Year ending December 31,
-2024		25
-2025		-
-2026		-
-2027		-
-thereafter		-
Total undiscounted lease payments		25
Less: imputed interest		(1	)
Operating lease liabilities as of December 31, 2023	$	24

Including:
Operating lease liabilities		24
Operating lease liabilities-Non current		-
	$	24

Lease, Cost [Table Text Block]

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)

Long-term operating lease contracts		326		459
Short-term operating lease contracts		31		48
Total		357		507

	Year Ended December 31,
	2023			2022

Operating cash flows used for operating leases (US$’000)		498			361
Right-of-use assets obtained in exchange for new lease liabilities (US$’000)		-			252
Weighted-average remaining lease term (years)		0.08			5.75
Weighted-average discount rate		6	%		6	%

Financing Receivable, Current, Allowance for Credit Loss [Table Text Block]

	Year Ended December 31,
	2023			2022
	US$(’000)			US$(’000)
	(Unaudited)			(Unaudited)
*Credit loss for accounts receivable:*

Balance as of beginning of the period		3,760			2,236
Cumulative-effect adjustment upon adoption of ASU No. 2016-13, Financial Instruments-Credit losses (Topic 326)		36			-
Provision for/(reverse of) credit loss during the period		246			1,763
Written off during the period		-			-
Exchange translation adjustments		(55	)		(239	)
Balance as of end of the period		3,987			3,760

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)
	(Unaudited)		(Unaudited)
*Credit loss for other current assets:*

Balance as of beginning of the period		617		-
Cumulative-effect adjustment upon adoption of ASU No. 2016-13, Financial Instruments-Credit losses (Topic 326)		155		-
Provision for credit loss during the period		787		617
Written off during the period		-		-
Exchange translation adjustments		-		-
Balance as of end of the period		1,559		617

Note 4 - Summary of Significant Accounting Policies - Schedule of Useful Lives (Details)	Dec. 31, 2023
Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Vehicles [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Office Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Office Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years
Electronic Devices [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years

Note 4 - Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Significant Accounting Policies [Text Block]

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”).

Principles of consolidation

Use of estimates

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,
	2023		2022
Balance sheet items, except for equity accounts		7.0827		6.9646

	Year Ended December 31,
	2023		2022
Items in the statements of operations and comprehensive loss		7.0467		6.7261

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

For the years ended December 31, 2023 and 2022, the Company’s operating subsidiaries transferred US$0.55 million and US$0.34 million cash to the consolidated VIEs in form of loans, respectively.

For the years ended December 31, 2023 and 2022, the Company’s PRC subsidiaries, the VIEs, and VIE’s subsidiaries did not transfer any cash outside of the PRC.

Accounts receivable, net

Long-term investments

Property and equipment, net

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

Intangible assets, net

Impairment of long-lived assets

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, 2023 and 2022 is as follows:

Fair value measurement at reporting date using

As of

December 31, 2023

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

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

Significant unobservable inputs utilized to determine the fair value of the Company’s warrant liabilities was disclosed in Note 15.

Reverse stock split

Revenue recognition

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, 2023 and 2022.

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,
	2023		2022
	US$(’000)		US$(’000)
Internet advertising and related service
--distribution of the right to use search engine marketing service		30,510		22,262
--online advertising placements		-		3,548
Ecommerce O2O advertising and marketing services		-		-
Blockchain-based SaaS services		75		425
Total revenues	$	30,585	$	26,235

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)
Revenue recognized over time		30,585		25,835
Revenue recognized at a point in time		-		400
Total revenues	$	30,585	$	26,235

Contract costs

Contract balances

	Contract liabilities
	US$(’000)

Balance as of January 1, 2022		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
Exchange translation adjustment		(10	)
Revenue recognized from beginning contract liability balance		(670	)
Advances received from customers related to unsatisfied performance obligations		784
Balance as of December 31, 2023		843

For the years ended December 31, 2023 and 2022, there is no revenue recognized from performance obligations that were satisfied in prior periods.

Transaction price allocated to remaining performance obligation

Cost of revenues

Research and development expenses

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, 2023, operating lease right-of-use assets and total operating lease liabilities recognized was approximately US$0.02 million and US$0.02 million, respectively.

Maturity of operating lease liabilities

	Operating leases
	US$(’000)
Year ending December 31,
-2024		25
-2025		-
-2026		-
-2027		-
-thereafter		-
Total undiscounted lease payments		25
Less: imputed interest		(1	)
Operating lease liabilities as of December 31, 2023	$	24

Including:
Operating lease liabilities		24
Operating lease liabilities-Non current		-
	$	24

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.

Operating lease expenses:

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)

Long-term operating lease contracts		326		459
Short-term operating lease contracts		31		48
Total		357		507

Supplemental information related to operating leases:

	Year Ended December 31,
	2023			2022

Operating cash flows used for operating leases (US$’000)		498			361
Right-of-use assets obtained in exchange for new lease liabilities (US$’000)		-			252
Weighted-average remaining lease term (years)		0.08			5.75
Weighted-average discount rate		6	%		6	%

Income taxes

Uncertain tax positions

Share-based payment transactions

Comprehensive income (loss)

Earnings (loss) per share

Commitments and contingencies

Current expected credit losses

The following tables summarized the movements of the Company’s credit losses as of December 31, 2023 and 2022, respectively:

	Year Ended December 31,
	2023			2022
	US$(’000)			US$(’000)
	(Unaudited)			(Unaudited)
*Credit loss for accounts receivable:*

Balance as of beginning of the period		3,760			2,236
Cumulative-effect adjustment upon adoption of ASU No. 2016-13, Financial Instruments-Credit losses (Topic 326)		36			-
Provision for/(reverse of) credit loss during the period		246			1,763
Written off during the period		-			-
Exchange translation adjustments		(55	)		(239	)
Balance as of end of the period		3,987			3,760

	Year Ended December 31,
	2023		2022
	US$(’000)		US$(’000)
	(Unaudited)		(Unaudited)
*Credit loss for other current assets:*

Balance as of beginning of the period		617		-
Cumulative-effect adjustment upon adoption of ASU No. 2016-13, Financial Instruments-Credit losses (Topic 326)		155		-
Provision for credit loss during the period		787		617
Written off during the period		-		-
Exchange translation adjustments		-		-
Balance as of end of the period		1,559		617

Note 4 - Summary of Significant Accounting Policies - Exchange Rates Used to Translate Amounts in RMB Into US (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Balance sheet items, except for equity accounts	7.0827	6.9646
Items in the statements of operations and comprehensive loss	7.0467	6.7261

Note 9 - Long-term Investments

12 Months Ended

Dec. 31, 2023