0001564590-22-016903 | 20-F | XBRL Viewer | Iclick Interactive Asia Group LTD

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Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2021 shares
Document Information
Entity Registrant Name	iClick Interactive Asia Group Limited
Entity Central Index Key	0001697818
Document Type	20-F
Document Period End Date	Dec. 31, 2021
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Title of 12(b) Security	American Depositary Shares, two representing one Class A ordinary share, par value US$0.001 per share
Trading Symbol	ICLK
Security Exchange Name	NASDAQ
Entity File Number	001-38313
Entity Address, Address Line One	15/F
Entity Address, Address Line One	Prosperity Millennia Plaza
Entity Address, Address Line Two	663 King’s Road
Entity Address, City or Town	Quarry Bay, Hong Kong S.A.R
Entity Address, Postal Zip Code	000000
Entity Address, Country	CN
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Registration Statement	false
Entity Bankruptcy Proceedings, Reporting Current	false
ICFR Auditor Attestation Flag	true
Entity Incorporation, State or Country Code	E9
Document Accounting Standard	U.S. GAAP
Auditor Name	PricewaterhouseCoopers
Auditor Firm ID	1389
Auditor Location	Hong Kong
Business Contact
Document Information
Entity Address, Address Line One	15/F
Entity Address, Address Line One	Prosperity Millennia Plaza
Entity Address, Address Line Two	663 King’s Road
Entity Address, City or Town	Quarry Bay, Hong Kong S.A.R
Entity Address, Postal Zip Code	000000
Entity Address, Country	CN
Contact Personnel Name	David Zhang
City Area Code	852
Local Phone Number	3700 9000
Contact Personnel Email Address	david.zhang@i-click.com
Ordinary shares
Document Information
Entity Common Stock, Shares Outstanding	49,314,241
Ordinary Shares - Class A
Document Information
Entity Common Stock, Shares Outstanding	44,279,814
Ordinary Shares - Class B
Document Information
Entity Common Stock, Shares Outstanding	5,034,427

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 41,443	$ 52,232
Time deposits	11,128	89
Restricted cash	36,146	42,145
Short-term investments	7,771	23,720
Amount due from an equity investee	276	218
Accounts receivable, net of allowance for credit losses of US$11,749 and US$22,786 as of December 31, 2020 and 2021, respectively	187,261	143,142
Rebates receivable	5,575	10,964
Prepaid media costs	36,709	34,528
Other current assets	24,957	14,138
Total current assets	351,266	321,176
Non-current assets
Deferred tax assets	1,185	953
Property and equipment, net	1,931	1,113
Investment in an equity investee	354	460
Prepayments for long-term investments		2,924
Other long-term investments	12,114	8,651
Intangible assets, net	53,713	56,431
Goodwill	81,674	74,419
Right-of-use assets	3,834	3,421
Other assets	1,663	567
Total non-current assets	156,468	148,939
Total assets	507,734	470,115
Current liabilities
Accounts payable (including accounts payable of the consolidated variable interest entity (“VIE”) and its subsidiaries without recourse to the Company of US$371 and US$2,262 as of December 31, 2020 and 2021, respectively)	66,587	43,140
Deferred revenue (including deferred revenue of the consolidated VIE and its subsidiaries without recourse to the Company of US$644 and US$88 as of December 31, 2020 and 2021, respectively)	22,802	28,199
Accrued liabilities and other current liabilities (including accrued liabilities and other current liabilities of the consolidated VIE and its subsidiaries without recourse to the Company of US$1,519 and US$1,444 as of December 31, 2020 and 2021, respectively)	29,735	29,331
Lease liabilities (including lease liabilities of the consolidated VIE and its subsidiaries without recourse to the Company of US$298 and US$295 as of December 31, 2020 and 2021, respectively)	2,141	1,955
Bank borrowings (including bank borrowing of the consolidated VIE and its subsidiaries without recourse to the Company of US$457 and US$1,889 as of December 31, 2020 and 2021, respectively)	75,530	56,040
Income tax payable (including income tax payable of the consolidated VIE and its subsidiaries without recourse to the Company of US$483 and US$575 as of December 31, 2020 and 2021, respectively)	4,050	4,182
Total current liabilities	200,845	162,847
Non-current liabilities
Contingent consideration payable		7,755
Lease liabilities (including lease liabilities of the consolidated VIE and its subsidiaries without recourse to the Company of US$186 and US$89 as of December 31, 2020 and 2021, respectively)	1,463	1,373
Deferred tax liabilities (including deferred liabilities of the consolidated VIE and its subsidiaries without recourse to the Company of US$146 and US$99 as of December 31, 2020 and 2021, respectively)	13,378	14,156
Other liabilities	459	4,896
Total non-current liabilities	15,300	28,180
Total liabilities	216,145	191,027
Commitments and contingencies
Equity
Treasury shares (2,396,372 and 2,323,802 shares as of December 31, 2020 and 2021, respectively)	(20,908)	(10,341)
Additional paid-in capital	525,508	492,400
Statutory reserves	81	81
Accumulated other comprehensive (losses)/income	860	(2,478)
Accumulated deficit	(221,237)	(207,606)
Total iClick Interactive Asia Group Limited shareholders’ equity	284,352	272,102
Non-controlling interests	7,237	6,986
Total equity	291,589	279,088
Total liabilities and equity	507,734	470,115
Ordinary Shares - Class A
Equity
Ordinary shares	43	41
Ordinary Shares - Class B
Equity
Ordinary shares	$ 5	$ 5

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts receivable, allowance for doubtful receivables	$ 22,786	$ 11,749
Accounts payable of the consolidated variable interest entity ("VIE") and its subsidiary without recourse to the Company	66,587	43,140
Deferred revenue	22,802	28,199
Accrued liabilities and other current liabilities of the consolidated VIE and its subsidiary without recourse to the Company	$ 29,735	$ 29,331
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, shares authorized	100,000,000	100,000,000
Treasury stock, shares	2,323,802	2,396,372
Lease liabilities, current of the consolidated VIE and its subsidiaries without recourse to the Company	$ 2,141	$ 1,955
Bank borrowings, current of the consolidated VIE and its subsidiaries without recourse to the Company	75,530	56,040
Income tax payable, current of the consolidated VIE and its subsidiaries without recourse to the Company	4,050	4,182
Lease liabilities, non-current of the consolidated VIE and its subsidiaries without recourse to the Company	1,463	1,373
Deferred tax liabilities of the consolidated VIE and its subsidiaries without recourse to the Company	13,378	14,156
VIE
Accounts payable of the consolidated variable interest entity ("VIE") and its subsidiary without recourse to the Company	2,262	371
Deferred revenue	88	644
Accrued liabilities and other current liabilities of the consolidated VIE and its subsidiary without recourse to the Company	1,444	1,519
Lease liabilities, current of the consolidated VIE and its subsidiaries without recourse to the Company	295	298
Bank borrowings, current of the consolidated VIE and its subsidiaries without recourse to the Company	1,889	457
Income tax payable, current of the consolidated VIE and its subsidiaries without recourse to the Company	575	483
Lease liabilities, non-current of the consolidated VIE and its subsidiaries without recourse to the Company	89	186
Deferred tax liabilities of the consolidated VIE and its subsidiaries without recourse to the Company	$ 99	$ 146
Ordinary Shares - Class A
Ordinary shares, shares authorized	80,000,000	80,000,000
Ordinary shares, shares issued	42,865,515	40,996,215
Ordinary shares, shares outstanding	42,865,515	40,996,215
Ordinary Shares - Class B
Ordinary shares, shares authorized	20,000,000	20,000,000
Ordinary shares, shares issued	5,034,427	4,820,608
Ordinary shares, shares outstanding	5,034,427	4,820,608

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Net revenues	$ 307,702	$ 254,745	$ 199,408
Cost of revenues	(218,549)	(181,482)	(142,703)
Gross profit	89,153	73,263	56,705
Operating expenses
Research and development expenses	(9,527)	(5,349)	(5,574)
Sales and marketing expenses	(52,872)	(38,028)	(42,968)
General and administrative expenses	(39,643)	(31,648)	(20,304)
Total operating expenses	(102,042)	(75,025)	(68,846)
Operating loss	(12,889)	(1,762)	(12,141)
Interest income	824	1,297	537
Interest expense	(4,089)	(2,650)	(1,915)
Other gains, net	2,203	5,852	2,992
Fair value losses on derivative liabilities		(11,466)
Fair value gains/(losses) on convertible notes		(4,433)	133
Loss before share of loss from an equity investee and income tax expense	(13,951)	(13,162)	(10,394)
Share of loss from an equity investee	(107)	(111)	(408)
Income tax expense	(2,540)	(1,633)	(47)
Net loss	(16,598)	(14,906)	(10,849)
Net loss attributable to non-controlling interests	2,967	2,288	1,246
Net loss attributable to iClick Interactive Asia Group Limited’s ordinary shareholders	(13,631)	(12,618)	(9,603)
Other comprehensive (loss)/income:
Foreign currency translation adjustment, net of US$nil tax	3,484	5,274	(1,700)
Comprehensive loss	(13,114)	(9,632)	(12,549)
Comprehensive loss attributable to non-controlling interests	2,823	2,015	1,334
Comprehensive loss attributable to iClick Interactive Asia Group Limited	$ (10,291)	$ (7,617)	$ (11,215)
Net loss per share attributable to iClick Interactive Asia Group Limited
- Basic	$ (0.28)	$ (0.32)	$ (0.34)
- Diluted	$ (0.28)	$ (0.32)	$ (0.34)
Weighted average number of ordinary shares used in per share calculation:
- Basic	48,187,235	39,368,436	28,583,548
- Diluted	48,187,235	39,368,436	28,583,548

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Ordinary shares	Treasury shares	Additional paid-in capital	Accumulated deficit	Accumulated deficit Cumulative Effect, Period of Adoption, Adjustment	Statutory reserves	Accumulated other comprehensive (losses)/Income	Total iClick Interactive Asia Group Limited shareholders' equity	Total iClick Interactive Asia Group Limited shareholders' equity Cumulative Effect, Period of Adoption, Adjustment	Non-controlling interests
Beginning balance at Dec. 31, 2018	$ 106,640		$ 28	$ (576)	$ 293,072	$ (181,413)		$ 81	$ (5,867)	$ 105,325		$ 1,315
Beginning balance, shares at Dec. 31, 2018			27,986,700	1,363,860
Reissuance of treasury shares upon exercise of employee share options and vesting of RSUs	315		$ 1	$ 132	182					315
Reissuance of treasury shares upon exercise of employee share options and vesting of restricted share units ("RSUs"), shares			269,943	(269,943)
Convertible notes transaction expenses in form of share- based awards (Note 21(c))	3,298				3,298					3,298
Share-based compensation expenses	2,115				2,115					2,115
Issuance of shares upon vesting of RSUs, shares			23,750
Business combinations	11,815											11,815
Contribution from non-controlling interests	2,905				1,023					1,023		1,882
Capital injection in a subsidiary					1,223					1,223		(1,223)
Repurchase of ordinary shares	(4,414)			$ (4,414)						(4,414)
Repurchase of ordinary shares, shares				650,956
Issuance of ordinary shares upon conversion of convertible notes	4,431				4,431					4,431
Issuance of ordinary shares upon conversion of convertible notes, shares			410,242
Net loss for the year	(10,849)					(9,603)				(9,603)		(1,246)
Foreign currency translation	(1,700)								(1,612)	(1,612)		(88)
Ending balance at Dec. 31, 2019	114,556	$ (3,972)	$ 29	$ (4,858)	305,344	(191,016)	$ (3,972)	81	(7,479)	102,101	$ (3,972)	12,455
Ending balance, shares at Dec. 31, 2019			28,690,635	1,744,873
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201911Member					us-gaap:AccountingStandardsUpdate201911Member				us-gaap:AccountingStandardsUpdate201911Member
Reissuance of treasury shares upon exercise of employee share options and vesting of RSUs	1,305		$ 1	$ 194	1,110					1,305
Reissuance of treasury shares upon exercise of employee share options and vesting of restricted share units ("RSUs"), shares			546,340	(546,340)
Share-based compensation expenses	6,249				6,249					6,249
Issuance of shares upon vesting of RSUs, shares			171,932
Business combinations	42,377		$ 4		34,386					34,390		7,987
Business combinations, shares			3,772,694
Contribution from non-controlling interests	73											73
Capital injection in a subsidiary					1,716					1,716		(1,716)
Repurchase of ordinary shares	(5,677)			$ (5,677)						(5,677)
Repurchase of ordinary shares, shares				397,839
Issuance of ordinary shares but held as treasury shares, shares				800,000
Purchase of interests in subsidiaries from non-controlling interests (Notes 1(a)(iv), (v))	(7,003)				2,795					2,795		(9,798)
Purchase of interests in subsidiaries from non-controlling interests (Notes 1(a)(iv), (v)), shares			313,011
Issuance of ordinary shares upon share offerings (Note 1(c))	71,917		$ 5		71,912					71,917
Issuance of ordinary shares upon share offerings (Note 1(c)), shares			5,546,007
Issuance of ordinary shares upon conversion of convertible notes	68,895		$ 7		68,888					68,895
Issuance of ordinary shares upon conversion of convertible notes, shares			6,776,204
Net loss for the year	(14,906)					(12,618)				(12,618)		(2,288)
Foreign currency translation	5,274								5,001	5,001		273
Ending balance at Dec. 31, 2020	279,088		$ 46	$ (10,341)	492,400	(207,606)		81	(2,478)	272,102		6,986
Ending balance, shares at Dec. 31, 2020			45,816,823	2,396,372
Reissuance of treasury shares upon exercise of employee share options and vesting of RSUs	661		$ 1	$ 120	540					661
Reissuance of treasury shares upon exercise of employee share options and vesting of restricted share units ("RSUs"), shares			677,530	(677,530)
Share-based compensation expenses	11,969				11,969					11,969
Issuance of shares upon vesting of RSUs, shares			572,500
Business combinations	3,072											3,072
Business combinations, shares			649,349
Repurchase of ordinary shares	(10,687)			$ (10,687)						(10,687)
Repurchase of ordinary shares, shares				604,960
Issuance of ordinary shares upon subscription from Baozun Inc.(Note 1(d))	18,540		$ 1		18,539					18,540
Net loss for the year	(16,598)					(13,631)				(13,631)		(2,967)
Foreign currency translation	3,484								3,338	3,338		146
Ending balance at Dec. 31, 2021	291,589		$ 48	$ (20,908)	525,508	$ (221,237)		$ 81	$ 860	284,352		$ 7,237
Ending balance, shares at Dec. 31, 2021			47,899,942	2,323,802
Issuance of ordinary shares upon settlement for contingent consideration payable (Note 4(d))	$ 2,060				$ 2,060					$ 2,060
Issuance of ordinary shares upon settlement for contingent consideration payable (note 4(d)), shares			183,740

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net loss	$ (16,598,000)	$ (14,906,000)	$ (10,849,000)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation of property and equipment	648,000	381,000	334,000
Amortization of intangible assets	3,238,000	4,189,000	4,774,000
Amortization of right-of-use assets	2,785,000	1,930,000	1,548,000
(Gains)/losses on disposals of property and equipment	(16,000)	3,000	(2,000)
Allowance for credit losses on accounts receivable	12,424,000	6,587,000	1,995,000
Accounts receivable written off	(1,669,000)	(2,621,000)
Allowance for credit losses on loans and interest receivable	289,000
Convertible notes transaction expenses in form of non-employee warrant award			3,298,000
Other convertible notes transaction expenses			1,258,000
Other share-based compensation expenses	11,969,000	6,249,000	2,115,000
Share-based compensation expenses in relation to the to ordinary shares upon subscription from Baozun Inc.	1,530,000
Fair value losses on derivative liabilities		11,466,000
Fair value (gains)/losses on convertible notes		4,433,000	(133,000)
Fair value (gains)/losses on short-term investments	316,000	(1,404,000)	(107,000)
Impairment on long-term investments	4,038,000	0	0
Fair value changes on contingent consideration payables	(418,000)
Deferred tax	(905,000)	(1,151,000)	(1,083,000)
Share of losses from an equity investee	107,000	111,000	408,000
Changes in operating assets and liabilities, net
Accounts receivable	(58,615,000)	1,996,000	(85,382,000)
Prepayments and other assets	3,333,000	(1,426,000)	(5,490,000)
Rebates receivables	5,626,000	(4,987,000)	(1,602,000)
Prepaid media costs	(1,463,000)	(8,383,000)	(6,735,000)
Accounts payable	23,447,000	(23,345,000)	61,318,000
Accrued liabilities and other current liabilities	(1,504,000)	3,392,000	3,862,000
Deferred revenue	(5,323,000)	265,000	722,000
Income tax payable	(80,000)	(121,000)	1,001,000
Income tax recoverable	7,000	(55,000)
Lease liabilities	(2,781,000)	(2,173,000)	(1,389,000)
Amount due from an equity investee	(58,000)	(63,000)	(155,000)
Net cash used in operating activities	(19,673,000)	(19,633,000)	(30,294,000)
Cash flows from investing activities
Purchase of property and equipment	(1,386,000)	(556,000)	(474,000)
Purchase of intangible assets	(203,000)	(575,000)	(232,000)
Redemption/(purchase) of short-term investments	15,633,000	(22,267,000)	17,599,000
Investment in an equity investee		(412,000)	(566,000)
Purchase of other long-term investments	(4,108,000)	(7,129,000)	(1,000,000)
Prepayment for long-term investment costs	(394,000)	(1,901,000)	(1,000,000)
(Purchase)/redemption of time deposits	(11,039,000)	321,000	(410,000)
Acquisition of businesses, net of cash received	(10,007,000)	6,226,000	(7,171,000)
Loan to third parties	(17,303,000)	(1,400,000)
Repayment of loan from third parties	6,400,000
Proceeds from disposals of property and equipment	17,000		16,000
Net cash provided by/(used in) investing activities	(22,390,000)	(27,693,000)	6,762,000
Cash flows from financing activities
Proceeds from exercise of share options	661,000	1,305,000	315,000
Proceeds from bank borrowings	248,784,000	180,511,000	140,507,000
Repayments of bank borrowings	(231,025,000)	(165,131,000)	(111,986,000)
Proceeds from issuance of convertible notes, net of transaction expenses		19,184,000	28,742,000
Redemption of convertible notes		(15,196,000)	(11,265,000)
Contribution from non-controlling interests		73,000	2,905,000
Repurchase of ordinary shares	(10,687,000)	(5,677,000)	(4,414,000)
Net proceeds from issuance of ordinary shares upon share offerings		71,917,000
Net proceeds from issuance of ordinary shares upon subscription from Baozun Inc.	17,010,000
Purchase of interests in subsidiaries from non-controlling interests		(7,003,000)
Net cash provided by financing activities	24,743,000	79,983,000	44,804,000
Net increase/(decrease) in cash and cash equivalents and restricted cash	(17,320,000)	32,657,000	21,272,000
Cash and cash equivalents and restricted cash at the beginning of year	94,377,000	60,706,000	39,828,000
Effect on exchange rate changes on cash and cash equivalents and restricted cash	532,000	1,014,000	(394,000)
Cash and cash equivalents and restricted cash at the end of year	77,589,000	94,377,000	60,706,000
Supplemental disclosure of cash flow information:
Interests paid	(3,922,000)	(2,545,000)	(2,109,000)
Cash paid for income taxes	(3,677,000)	(2,960,000)	(130,000)
Supplemental schedule of non-cash investing and financing activities:
Convertible notes transaction expenses in form of share-based awards			3,298,000
Fair value (gains)/losses on convertible notes		4,433,000	(133,000)
Fair value losses on derivative liabilities	11,466,000	11,466,000
Issuance of ordinary shares upon conversion of convertible notes		68,895,000	$ 4,431,000
Issuance of ordinary shares upon acquisition of subsidiaries		42,377,000
Issuance of convertible notes upon exercise of call option		$ 11,466,000
Issuance of ordinary shares upon settlement for contingent consideration payable	2,060,000
Transfer of prepayments for long-term investments to other long-term investments	$ 7,023,000

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of cash and cash equivalents and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above:
Cash and cash equivalents	$ 41,443	$ 52,232	$ 36,854
Restricted cash, current	36,146	42,145	23,852
Cash and cash equivalents and restricted cash	$ 77,589	$ 94,377	$ 60,706	$ 39,828

Organization and principal activities

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and principal activities

1	Organization and principal activities

(a)	Organization and nature of operation

iClick Interactive Asia Group Limited (the “Company”) and its subsidiaries are collectively referred to as the Group. The Company was incorporated under the law of Cayman Islands as a limited company on February 3, 2010. The Group has been principally engaged in the provision of online advertising services (“Marketing Solutions”) since then. Starting from January 1, 2019, the Group is also engaged in the provision of software and data analytical tool licenses, customer relationship management solutions, and digitalized operational solutions (“Enterprise Solutions”). The Group’s principal operations and geographic market are in Greater China and have offices in Hong Kong and The People’s Republic of China (“the PRC”). There are also sales teams in Singapore and the United Kingdom.

The accompanying consolidated financial statements include the financial statements of the Company, its principal subsidiaries and consolidated VIE and the VIE’s subsidiaries (defined in Note 1(b)) as follows:


Name	Relationship	Effective interest held through equity ownership/ contractual arrangements (Note (i))	Date of incorporation/ establishment	Place of incorporation/ establishment	Principal activities

Tetris Media Limited	Subsidiary	100%	July 2007	Hong Kong	Investment holding
iClick Interactive Asia Limited	Subsidiary	100%	December 2008	Hong Kong	Online advertising, SaaS products and services
China Search (Asia) Limited	Subsidiary	100%	September 2010	Hong Kong	Online advertising
iClick Interactive (Singapore) Pte. Ltd.	Subsidiary	100%	January 2011	Singapore	Online advertising
iClick Data Technology (Beijing) Limited (“Beijing WFOE”)	Subsidiary	100%	January 2011	The PRC	Online advertising, SaaS products and services
Search Asia Technology (Shenzhen) Co., Ltd.	Subsidiary	100%	January 2011	The PRC	Online advertising
Performance Media Group Limited	Subsidiary	100%	January 2013	Hong Kong	Online advertising
Addoil Broadcasts Limited (“Addoil”)	Subsidiary	100%	January 2013	Hong Kong	Developing and operating mobile application
CMRS Digital Solutions Limited	Subsidiary	100%	April 2008	Hong Kong	Online advertising, SaaS products and services
Beyond Digital Solutions Limited	Subsidiary	100%	April 2010	Hong Kong	Online advertising, SaaS products and services
CruiSo Digital Solutions Limited	Subsidiary	100%	May 2011	Hong Kong	Online advertising, SaaS products and services
Tetris Information Technology (Shanghai) Co., Ltd.	Subsidiary	100%	April 2008	The PRC	Online advertising, SaaS products and services
OptAim (Beijing) Information Technology Co., Ltd. (“OptAim WFOE”)	Subsidiary	100%	November 2014	The PRC	Online advertising, SaaS products and services

1	Organization and principal activities (Continued)

(a)	Organization and nature of operation (Continued)

Name	Relationship	Effective interest held through equity ownership/ contractual arrangements (Note (i))	Date of incorporation/ establishment	Place of incorporation/ establishment	Principal activities

Anhui Zhiyunzhong Information Technology Co., Ltd. (“OptAim Anhui”)	Subsidiary	100%	November 2017	The PRC	Online advertising, SaaS products and services
Tetris (Shanghai) Data Technology Co., Ltd.	Subsidiary	100%	October 2020	The PRC	Online advertising, SaaS products and services
Beijing OptAim Network Technology Co., Ltd. (“Beijing OptAim”)	VIE	100%	September 2012	The PRC	Online advertising
Zhiyunzhong (Shanghai) Technology Co., Ltd. (“Shanghai OptAim”)	VIE’s subsidiary	100%	September 2014	The PRC	Online advertising
Shanghai Myhayo Technology Co., Ltd. (“Myhayo”) (Notes (ii), (iii))	VIE’s subsidiary	36.8%	May 2017	The PRC	Mobile content aggregator and online advertising
Anhui Myhayo Technology Co., Ltd. (“Anhui Myhayo”) (Notes (ii), (iii))	VIE’s subsidiary	36.8%	September 2018	The PRC	Mobile content aggregator and online advertising
Changyi (Shanghai) Information Technology Ltd. (“Changyi”) (Note (iv))	Subsidiary	59.84%	January 2014	The PRC	SaaS products and services
Xi'an Changzhan Information Technology Ltd. (“Xian Changyi”)	Subsidiary	59.84%	August 2019	The PRC	SaaS products and services
Optimal Power Limited (“Optimal”) (Note (v))	Subsidiary	100%	September 2019	BVI	Investment holding
Full Lucky International Limited (“Full Lucky”)	Subsidiary	100%	January 2019	Hong Kong	Online advertising, SaaS products and services

1	Organization and principal activities (Continued)

(a)	Organization and nature of operation (Continued)

Note:

(i)

Save for the impacts from the transactions detailed in Notes (iii), (iv) and (v) below, there was no change in the Company’s effective interest held through equity ownership/ contractual arrangements over the principal subsidiaries and consolidated VIE and the VIE’s subsidiaries during the years ended December 31, 2019, 2020 and 2021.

(ii)

Although the Company owns less than 50% ownership in these entities, these entities are consolidated as the Company obtains control with its controlling voting right at the level of both shareholders and board of directors pursuant to agreements with other investors of these entities.

(iii)

The Company acquired 40% equity interest of Anhui Myhayo and Shanghai Myhayo in November 2018. In August 2019 and August 2020, there were contribution from non-controlling interests of US$2,905 to Anhui Myhayo and US$73 to Shanghai Myhayo, respectively, whereby the Company's (i) equity interest in Anhui Myhayo was diluted to 36.8% in August 2019 and (ii) equity interest in Shanghai Myhayo was diluted to 36.8% in August 2020. These transactions did not result in a loss of the Company’s control over Anhui Myhayo and Shanghai Myhayo and were accounted for as transactions with non-controlling interests, resulting in an increase in equity by US$2,905 and US$73 for the years ended December 31, 2019 and 2020, respectively.

(iv)

The Company acquired 34.38% equity interest of Changyi, which held 100% equity interest of Suzhou Changyi, Xian Changyi, Shanghai Changyu and Anhui Changyi, in January 2019 (Note 4(a)). During the years ended December 31, 2019 and 2020, the Company has further completed the following transactions in relation to Changyi.

In May 2019, the Company injected a total cash of RMB15 million (equivalent to US$2,217) to Changyi as paid-up capital, upon which the Company's equity interest in Changyi increased to 41.46%.

In September 2020, the Company further injected a total cash of RMB65 million (equivalent to US$9,477) to Changyi as paid-up capital, resulting in a transfer of non-controlling interests of US$1,716 to additional paid-in capital for the year ended December 31, 2020. The Company’s equity interest in Changyi increased further to 52.62%.

In December 2020, the Company acquired 7.22% equity interest of Changyi from non-controlling interests using 313,011 Class A ordinary shares of the Company with a fair market value of US$4,176, resulting in a transfer of non-controlling interests of US$1,658 to additional paid-in capital for the year ended December 31, 2020. The Company’s equity interests in Changyi increased further to 59.84%.

These transactions did not change the Company’s control over Changyi and were accounted for as transactions with non-controlling interests.

(v)

The Company acquired 80% equity interest of Optimal in May 2020 (Note 4(c)). In December 2020, the Company acquired the remaining 20% equity interest of Optimal from the non-controlling interest shareholder at a cash consideration of US$7,003, whereby the Company’s equity interests in Optimal increased to 100%. This was accounted for as a transaction with non-controlling interests with an increase in additional paid-in capital of US$1,137 and a reduction in non-controlling interests of US$8,140 for the year ended December 31, 2020.

1	Organization and principal activities (Continued)

(b)	Consolidated VIE and VIE’s subsidiaries

When the Company acquired OptAim WFOE in July 2015, OptAim WFOE is considered as a foreign invested enterprise and any foreign ownership in advertising business was subject to certain restrictions under the PRC laws and regulations at that time. To comply with the then-effective PRC laws and regulations, certain of the Group’s operations are conducted through Beijing OptAim and its subsidiaries Shanghai OptAim, Shanghai Myhayo and Anhui Myhayo (together, “OptAim VIE”). OptAim WFOE, a wholly-owned subsidiary of the Company, or a wholly foreign owned enterprise (“WFOE”) of the Company, entered into a series of contractual agreements among Beijing OptAim and Beijing OptAim’s legal shareholders.

Management evaluated the contractual relationships among the Company, OptAim WFOE and OptAim VIE as detailed below, and concluded that OptAim WFOE is the primary beneficiary of OptAim VIE. As a result, OptAim VIE’s results of operations, assets and liabilities have been included in the Group’s consolidated financial statements.

As a result of an internal restructuring within the Group in 2021 to move the VIE structure from OptAim WFOE to Beijing WFOE (being another wholly-owned subsidiary of the Company in the PRC), on November 1, 2021, the VIE contractual agreements as detailed below were amended and restated, which were to provide Beijing WFOE with the power, rights and obligations equivalent in all material respects to those it would possess as the principal equity holder of OptAim VIE by signing such contractual agreements among Beijing OptAim and Beijing OptAim’s legal shareholders to have Beijing WFOE replacing OptAim WFOE as the primary beneficiary of OptAim VIE.

OptAim VIE

The Company’s relationships with Beijing OptAim and its shareholders are governed by the following contractual arrangements:

•

Cooperative Agreement

Under the cooperative agreement between OptAim WFOE/Beijing WFOE and Beijing OptAim, OptAim WFOE/Beijing WFOE has the exclusive right to provide to Beijing OptAim, among others, technical consulting, technical support, business consulting, and appointment and dismissal of employees. OptAim WFOE/Beijing WFOE will collect a fee from Beijing OptAim to be determined at the sole discretion of OptAim WFOE/Beijing WFOE. The term of this agreement will not expire unless OptAim WFOE/Beijing WFOE provides prior written notice to Beijing OptAim.

•

Purchase Option Agreement

The parties to the purchase option agreement are OptAim WFOE/Beijing WFOE, Beijing OptAim and each of the shareholders of Beijing OptAim. Under the purchase option agreement, each of the shareholders of Beijing OptAim irrevocably granted OptAim WFOE/Beijing WFOE or its designated representative(s) an exclusive option to purchase, to the extent permitted under PRC law, all or part of its equity interests in Beijing OptAim. OptAim WFOE/Beijing WFOE or its designated representative(s) have sole discretion as to when to exercise such options, either in part or in full. Without prior written consent from OptAim WFOE/Beijing WFOE, Beijing OptAim’s shareholders shall not sell, transfer, mortgage or otherwise dispose their equity interests in Beijing OptAim. The agreement will not expire until all shares of Beijing OptAim are transferred to OptAim WFOE/Beijing WFOE or its designated representative(s).

•

Power of Attorney

Pursuant to the irrevocable power of attorney executed by the shareholders of Beijing OptAim, Beijing OptAim appointed OptAim WFOE/Beijing WFOE as its attorney-in-fact to exercise all shareholders’ rights in Beijing OptAim, including, without limitation, the power to vote on all matters of Beijing

1	Organization and principal activities (Continued)

(b)	Consolidated VIE and VIE’s subsidiaries (Continued)

•

Power of Attorney (Continued)

OptAim requiring shareholder approval under PRC laws and regulations and the articles of association of Beijing OptAim. The power of attorney will remain in force until OptAim WFOE/Beijing WFOE provides prior written notice to Beijing OptAim.

•

Pledge Agreement

Pursuant to the pledge agreement between OptAim WFOE/Beijing WFOE and the shareholders of Beijing OptAim, the shareholders of Beijing OptAim have pledged all of their equity interests in Beijing OptAim to OptAim WFOE/Beijing WFOE to guarantee the performance by Beijing OptAim under the cooperative agreement, purchase option agreement, and powers of attorney. If Beijing OptAim and/or its shareholders breach their contractual obligations under those agreements, OptAim WFOE/Beijing WFOE, as pledgee, will be entitled to certain rights, including the right to sell the pledged equity interests. Under the pledge agreement, the shareholders of Beijing OptAim are not able to provide any other guarantee by pledging the shares of Beijing OptAim, transfer or sell their pledged shares to other individual, change share capital of Beijing OptAim or transfer or sell the assets out of Beijing OptAim. The shareholders of Beijing OptAim have completed the registration of the equity pledge with the relevant office of the Administration for Industry and Commerce in accordance with the PRC Property Rights Law on June 21, 2017.

Through the aforementioned contractual agreements, OptAim VIE is considered VIE in accordance with Generally Accepted Accounting Principles in the United States (“U.S. GAAP”) because the Company, through OptAim WFOE/Beijing WFOE, has the ability to:

•

exercise effective control over OptAim VIE whereby having the power to direct OptAim VIE’s activities that most significantly drive the economic results of OptAim VIE;

•

receive substantially all of the economic benefits and residual returns, and absorb substantially all the risks and expected losses from OptAim VIE as if it was their sole shareholder; and

•

have an exclusive option to purchase all of the equity interests in OptAim VIE.

As of December 31, 2020 and 2021, the total assets of OptAim VIE were US$7,346 and US$10,506, respectively, mainly comprising cash and cash equivalents, accounts receivable, prepaid media costs, property and equipment, intangible assets, right-of-use assets, other long-term investment and other assets. As of December 31, 2020 and 2021, the total liabilities of OptAim VIE were US$4,104 and US$6,741 respectively, mainly comprising accounts payable, deferred revenue, lease liabilities, bank borrowings, income tax payable, accrued liabilities and other current liabilities, and deferred tax liabilities.

In accordance with the aforementioned agreements, the Company has the power to direct activities of OptAim VIE, and can have assets transferred out of OptAim VIE. Therefore the Company considers that there is no asset in OptAim VIE that can be used only to settle obligations of OptAim VIE, except for registered capital and PRC statutory reserves of OptAim VIE amounting to US$2,081 and US$2,081, respectively, as of December 31, 2020 and 2021. As Beijing OptAim and its subsidiaries were incorporated as limited liability companies under the PRC Company Law, the creditors do not have recourse to the general credit of the Company for all the liabilities of OptAim VIE. Currently there is no contractual arrangement that could require the Company to provide additional financial support to OptAim VIE.

As the Company is conducting its PRC online advertising services business through OptAim VIE, the Company will, if needed, provide such support on a discretion basis in the future, which could expose the Company to a loss.

There is no VIE where the Company has variable interest but is not the primary beneficiary.

1	Organization and principal activities (Continued)

(b)	Consolidated VIE and VIE’s subsidiaries (Continued)

In the opinion of the Company’s management, the contractual arrangements among its subsidiary, the VIE and the nominee shareholder are in compliance with current PRC laws and are legally binding and enforceable. However, uncertainties in the interpretation and enforcement of the PRC laws, regulations and policies could limit the Company’s ability to enforce these contractual arrangements. In addition, the nominee shareholder of our VIE is Mr Jian Tang, the chairman of our board of directors and our chief executive officer, who controls around 30% of the Company in terms of voting power. Therefore, the enforceability of the contractual agreements between the Company's subsidiary, the VIE and its nominee shareholder depends on whether the shareholder will fulfil these contractual agreements. As a result, the Company may be unable to consolidate the VIE and VIE’s subsidiaries in the consolidated financial statements.

The Company’s ability to control OptAim VIE also depends on the power of attorney and the effect of the share pledge under the Pledge Agreement and OptAim WFOE/Beijing WFOE has to vote on all matters requiring shareholder approval in OptAim VIE. As noted above, the Company believes this power of attorney is legally enforceable but may not be as effective as direct equity ownership.

(c)	Share offerings in 2020

(i)

Private investment in public equity offering (“PIPE”)

The Company completed a PIPE offering on June 22, 2020 and issued a total of 2,107,400 Class A ordinary shares. The net proceeds received by the Company, after deducting offering expenses of US$3,469, amounted to US$18,531.

(ii)

Follow-on offering

The Company completed a follow-on offering of 8,500,001 American Depositary Shares (“ADSs”) (equivalent to 4,250,001 Class A ordinary shares) at a public offering price of US$8.50 per ADS on September 8, 2020. Each ADS represents 0.5 common share. Of the ADSs sold in the follow-on offering, 6,877,214 ADSs (equivalent to 3,438,607 Class A ordinary shares) were newly issued and sold by the Company and 1,622,787 ADSs (equivalent to 811,394 Class A ordinary shares) were sold by an existing shareholder. The net proceeds received by the Company, after deducting offering expenses of US$5,070, amounted to US$53,386.

(d)	Issuance of shares to a new investor in 2021

Pursuant to a share subscription agreement entered into between the Company and a new investor Baozun Inc. (“Baozun”) in January 2021, the Company has issued a total of 649,349 Class B ordinary shares to Baozun for net cash proceeds received by the Company, after deducting an incremental cost of US$213, of US$17,010.

Cash proceeds received by the Company from the issuance of Class B ordinary shares to Baozun were calculated at US$26.52 per share, which was at discount as compared to the fair value of US$28.88 as determined based on the closing stock price as of the date of share issuance. The total discount of this share issuance amounting to US$1,530 represented an incentive to Baozun to enter into the strategic cooperation framework agreement with the Company, which was recognized as share-based compensation expenses in the consolidated during the year ended December 31, 2021.

Principal accounting policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Principal accounting policies

2	Principal accounting policies

(a)	Basis of presentation

The consolidated financial statements have been prepared in accordance with the U.S. GAAP. Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below.

2	Principal accounting policies (Continued)

(b)	Use of estimates

The preparation of the Group’s consolidated 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 disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from such estimates.

The Group believes that revenue recognition in determining whether the Company is the principal or an agent to the arrangements with merchants, rebates, consolidation of VIE, impairment assessment of goodwill, impairment assessment of long-lived assets and intangible assets, fair value determination related to the accounting for business combinations, impairment assessment of investments in equity securities without readily determinable fair value, determination of share-based compensation and valuation of convertible notes reflect more significant judgments and estimates used in the preparation of its consolidated financial statements.

Management bases the estimates on historical experience and on various other assumptions as discussed elsewhere to the consolidated financial statements that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could materially differ from these estimates.

(c)	Consolidation

The Group’s consolidated financial statements include the financial statements of the Company, its subsidiaries, its VIE and a VIE’s subsidiaries for which the Company or its subsidiary is the primary beneficiary. All transactions and balances among the Company, its subsidiaries, its VIE and a VIE’s subsidiaries have been eliminated upon consolidation.

A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting powers; or has the power to appoint or remove the majority of the members of the board of directors; or to cast a majority of votes at the meeting of directors; or has the power to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.

A VIE is an entity in which the Company, or its subsidiary, through contractual agreements, bears the risks of, and enjoys the rewards normally associated with ownership of the entity. In determining whether the Company or its subsidiaries are the primary beneficiary, the Company considered whether it has the power to direct activities that are significant to the VIE’s economic performance, and also the Group’s obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. Beijing WFOE and ultimately the Company hold all the variable interests of the VIE and its subsidiaries, and has been determined to be the primary beneficiary of the VIE.

Non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statement of comprehensive loss, statement of changes in equity and balance sheet, respectively.

(d)	Foreign currency translation

The reporting currency of the Company is the United States dollars (“US$”). The Company is a holding company engaged in capital raising and financing activities denominated in US$. As such, the Company’s functional currency has been determined to be the US$. The functional currency of the Company’s subsidiaries is the local currency of the country in which they are domiciled.

2	Principal accounting policies (Continued)

(d)	Foreign currency translation (Continued)

Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange existing at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into the functional currency at the applicable rates of exchange prevailing at the transaction date. Transaction gains and losses are recognized in “other gains, net”. Assets and liabilities denominated in foreign currencies are translated at the exchange rates at the balance sheet date. Equity accounts are translated at historical exchange rates and revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive loss in the consolidated statements of changes in shareholders’ equity and comprehensive loss.

(e)	Fair value of financial instruments

Fair value is defined 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. When available, the Company uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs.

Fair value measurements are based on a fair value hierarchy, based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:

Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted market prices for similar assets and liabilities; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

(i)

Fair value measurement on a recurring basis

Observable inputs are based on market data obtained from independent sources. The Company uses a combination of valuation methodologies, including market and income approaches based on the Company’s best estimate, which is determined by using information including but not limited to the pricing of recent rounds of financing of the investees, future cash flow forecasts, liquidity factors and multiples of a selection of comparable companies. The Company’s contingent consideration (Note 4 (d)), derivative liabilities and convertible notes (Note 18), and debt investment (Note 2(k)) are measured using unobservable inputs that require a high level of judgment to determine fair value, and thus classified as Level 3 (Note 3(c)).

2	Principal accounting policies (Continued)

(e)	Fair value of financial instruments (Continued)

(i)

Fair value measurement on a recurring basis (Continued)

The Company values its investments in wealth management products issued by banks and pledged deposits placed with a financial institution classified as short-term investments in the consolidated balance sheets (Note 2(k)) using quoted subscription or redemption prices published by the banks and financial institution. Accordingly, the Company classifies the valuation techniques that use these inputs as Level 2.

The carrying amounts of cash and cash equivalents, time deposits, restricted cash, accounts receivable, amount due from an equity investee, rebates receivable, accounts payable, other financial assets and liabilities approximate their fair values due to the short-term nature of these instruments. Based on the borrowing rates currently available to the Group for debt with similar terms, the carrying amounts of the short-term bank borrowings approximate their fair values (using Level 2 inputs).

The Group values its listed equity securities using quoted prices for the underlying securities in active markets. Accordingly, the Group classifies the valuation techniques that use these inputs as Level 1.

(ii)

Fair value measurement on a non-recurring basis

The Group measures an equity investment accounted for using the equity method at fair value on a non-recurring basis only if an impairment charge were to be recognized. For the years ended December 31, 2019, 2020 and 2021, no impairments were recorded on the asset which would require fair value measurement on a non-recurring basis.

Equity investments accounted for using the net asset value per share as a practical expedient (Note 2(k)(i)) and measurement alternative (Note 2(m)) are generally not categorized in the fair value hierarchy. However, if equity investments without readily determinable fair values accounted for using the measurement alternative were re-measured during the year, they would be classified within Level 3 in the fair value hierarchy because the Group estimated the value of the investments based on valuation methods using the observable transaction price at the transaction date and other unobservable inputs. See Note 2(m) for details.

(f)	Cash, cash equivalents and restricted cash

Cash and cash equivalents include cash on hand, cash in bank and time deposits placed with banks or other financial institutions, which have original maturities of three months or less and are readily convertible to known amounts of cash.

Restricted cash represented bank deposits in accounts that are restricted as to withdrawal or usage. For restriction which is expected to be released within one year of the balance sheet date, the respective restricted cash balance is classified as current. As of December 31, 2020 and 2021, the Group’s restricted cash mainly represents balance held in restricted bank accounts as required by certain loan agreements and escrow amount deposited for a business acquisition.

(g)	Time deposits

Time deposits represent demand deposits placed with banks with original maturities of more than three months but less than one year. Interest income is recognized using the effective interest method in the consolidated statements of comprehensive loss during the periods. Time deposits are valued based on the prevailing interest rates in the market.

2	Principal accounting policies (Continued)

(h)	Accounts receivable, net

Accounts receivable are presented net of allowance for credit losses. The Group evaluates its accounts receivable for expected credit losses on a regular basis. The Group maintains an estimated allowance for credit losses which reflects its best estimate of amounts that potentially will not be collected. The Group uses various credit quality indicators including but not limited to historical collection experience and credit-worthiness of the customers as well as the age of the receivables balance to monitor the Group’s receivables within the scope of expected credit losses model and use these as a basis to develop the Group’s expected loss estimates. Additionally, the Group makes specific allowance in the period based on any specific knowledge the Group has acquired that might indicate that an individual account is uncollectible. The facts and circumstances of each account may require the Group to use judgment in assessing its collectability. See Note 2(j) for current expected credit losses upon adoption of ASU No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASC 326”).

(i)	Rebates receivable

Rebates receivable represent sales rebates that have already been earned but not received from third party publishers. The Group earns its rebates from purchasing advertising spaces from these website publishers.

(j)	Current expected credit losses upon adoption of ASC 326

In 2016, the FASB issued ASC 326, which amends previously issued guidance regarding the impairment of financial instruments by creating an impairment model that is based on expected losses rather than incurred losses. Subsequently, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, to clarify that receivables arising from operating leases are within the scope of lease accounting standards. Further, the FASB issued ASU No. 2019-04, ASU No. 2019-05, ASU 2019-10, ASU 2019-11, ASU 2020-02 and ASU 2020-03 to provide additional guidance on the credit losses standard. The Group adopted ASC 326 and several associated ASUs on January 1, 2020 using a modified retrospective approach, resulting in a net adjustment of US$3,972 to the opening balance of accumulated losses with a corresponding credit loss provision over accounts receivable being recognized in the consolidated balance sheet as of January 1, 2020. As of December 31, 2020 and 2021, the credit loss provision for accounts receivable and loans and interest receivable being recognized in the consolidated balance sheets amounted to US$11,749 and US$23,075, respectively.

The Group’s accounts receivable, amount due from an equity investee, rebates receivable, other current assets and other assets are within the scope of ASC 326. The Group has identified the relevant risk characteristics of its customers and the related receivables and other current assets which include size, type of the services the Group provides, or a combination of these characteristics. Receivables with similar risk characteristics have been grouped into pools for collective evaluation. Receivables that do not share similar risk characteristics are evaluated on an individual basis. Receivables evaluated individually are not included in the collective evaluation. For each pool for collective evaluation, the Group considers the historical credit loss experience, current economic conditions, supportable forecasts of future economic conditions, and any recoveries in assessing the lifetime expected credit losses. Other key factors that influence the expected credit loss analysis include customer demographics, payment terms offered in the normal course of business to customers, and industry-specific factors that could impact the Group’s receivables. Additionally, external data and macroeconomic factors are also considered. This is assessed at each quarter based on the Group’s specific facts and circumstances.

Management applies ASC 326 in estimating the allowance for credit losses on loans and interest receivable as included in other current assets on the consolidated balance sheets not sharing similar risk characteristics on an individual basis. The key factors considered when determining the above allowances for credit losses include the estimated loan collection schedule under different scenarios and their corresponding probability of occurrence, discount rate, financial condition and performance data of the borrowers and their cash flow forecasts considering current and future economic conditions.

2	Principal accounting policies (Continued)

(j)	Current expected credit losses upon adoption of ASC 326 (Continued)

The following table presents the movement in the allowance for credit losses for the years ended December 31, 2020 and 2021.

	Accounts receivable						Loans and interest receivable
	For the years ended December 31,						For the years ended December 31,
	2020			2021			2020	2021
Balance at the beginning of year prior to ASC 326		3,469		-			-	-
Adoption of ASC 326		3,972		-			-	-
Balance at the beginning of year		7,441			11,749		-	-
Provision for the year		6,587			12,424		-	289
Accounts receivable written off		(2,621	)		(1,669	)	-	-
Exchange differences		342			282		-	-
Balance at the end of year		11,749			22,786		-	289

(k)	Short-term investments

Short-term investments represent the Group’s investments in listed equity securities, fund investments, wealth management products, pledged deposits and a convertible note.

(i)

Fund investments

Fund investments over which the Group does not have the ability to exercise significant influence, are required to be measured at fair value under ASC 321 “Investments—Equity Securities” (“ASC 321”). The Group has adopted the practical expedient in ASC 820 “Fair Value Measurements and Disclosures” (“ASC 820”) to estimate fair value using the net asset value per share (or its equivalent) of these investments which were without readily determinable fair value. Fund investments included in the consolidated balance sheet as short-term investments as of December 31, 2020 and 2021 amounted to US$11,097 and US$3,647 respectively and the change in fair value recorded in consolidated statement of comprehensive loss. Fair value gain of US$187 and fair value loss of US$452 were recognized under “other gains, net” for the years ended December 31, 2020 and 2021 respectively. There were no fund investments as of December 31, 2019 and no changes in fair values for the year ended December 31, 2019.

(ii)

Listed equity securities

Investments in listed equity securities are reported at fair value in the consolidated balance sheets and the unrealized gains and losses are recorded in the consolidated statements of comprehensive loss under ASU 2016-01. Listed equity securities recorded in the consolidated balance sheet as short-term investments as of December 31, 2020 and 2021 amounted to US$2,342 and US$nil, respectively, and the change in fair value recorded in the consolidated statement of comprehensive loss under “other gains, net” for the years ended December 31, 2019, 2020 and 2021 amounted to US$nil, US$1,157 and US$127, respectively.

2	Principal accounting policies (Continued)

(k)	Short-term investments (Continued)

(iii)

Wealth management products

Wealth management products are issued by banks in the PRC which are redeemable by the Group at any time. They are unsecured with variable interest rates and primarily invested in debt securities issued by the PRC government, corporate debt securities and central bank bills. The Group measures these investments at fair value using the quoted subscription or redemption prices published by the bank. Wealth management products recorded in the consolidated balance sheet as short-term investments as of December 31, 2020 and 2021 amounted to US$700 and US$1,574 respectively and the change in fair values recorded in the consolidated statement of comprehensive loss under “other gains, net” amounted to US$107, US$52 and US$9 for the years ended December 31, 2019, 2020 and 2021, respectively.

(iv)

Pledged deposits

Investments in pledged deposits are placed with a financial institution in Hong Kong which are redeemable by the Group at any time with 1-day notice, secured by certain listed equity securities and interest bearing at a fixed rate of 0.2% per annum. The Group measures these investments at fair value using the quoted subscription or redemption prices published by the financial institution. Pledged deposits recorded in the consolidated balance sheet as short-term investments as of December 31, 2020 and 2021 amounted to US$9,581 and US$nil, respectively, and the change in fair values recorded in the consolidated statement of comprehensive loss under “other gains, net” for the years ended December 31, 2019, 2020 and 2021 amounted to US$nil, US$8 and US$nil, respectively.

(v)

Debt investment

Debt investment of the Group includes an investment in a convertible note issued by a private company made in 2021 accounted for under the fair value option, for which the fair value as of the acquisition date and December 31, 2021 was US$2,550, respectively. Interest income and all other changes in the carrying amount of this debt investment are recognized in earnings. There was no material change in its fair value for the year ended December 31, 2021 since the convertible note was acquired at the end of 2021. There was no debt investment as of December 31, 2020.

(l)	Investment in an equity investee

Investment in an equity investee represents the Group's investment in a privately held company. The Group applies the equity method to account for an equity investment in common stock or in-substance common stock, according to Accounting Standards Codification (“ASC”) 323 “Investment — Equity Method and Joint Ventures,” over which it has significant influence but does not own a majority equity interest or otherwise control.

Under the equity method, the Group initially records the investments at cost and the difference between the cost of the equity investee and the fair value of the underlying net assets of the equity investee is recognized as equity method goodwill and intangible assets acquired, which is included in the equity method investments on the consolidated balance sheets. The Group subsequently adjusts the carrying amount of the investments to recognize its (i) proportionate share of each equity investee’s post-acquisition net income or loss into earnings, (ii) share of post-acquisition movements in accumulated other comprehensive income into other comprehensive income, and (iii) cash distributions from investees, after the date of investment. When the Group's share of loss in the equity investee equals or exceeds its interest in the equity investee, the Group does not recognize further loss, unless the Group has incurred obligations or made payments or guarantees on behalf of the equity investee.

The Group evaluates its equity method investment for impairment under ASC 323-10. An impairment loss on the equity method investment is recognized in the consolidated statement of comprehensive loss when the decline in value is determined to be other-than-temporary. No impairment loss has been recorded during the years ended December 31, 2019, 2020 and 2021.

2	Principal accounting policies (Continued)

(m)	Other long-term investments

The Group’s other long-term investments as of December 31, 2020 and 2021 consist of equity securities without readily determinable fair value.

In accordance with ASC 321 “Investments—Equity Securities” on January 1, 2018, the Group is required to measure its equity investments at fair value and any changes in fair value are recognized in earnings. For equity investments without readily determinable fair value and does not qualify for the existing practical expedient in ASC 820 to estimate fair value using the net asset value per share (or its equivalent) of the investments, the Group has elected to use the measurement alternative to measure its equity investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any.

Management makes a qualitative assessment as to whether the investment is impaired at each reporting date. If a qualitative assessment indicates that the investment is impaired, management estimates the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the Company recognizes an impairment loss in net loss equal to the difference between the carrying value and fair value. Management applied judgment in (i) determining whether the investment is impaired, (ii) estimating the impairment amount if an impairment exists, and (iii) determining valuation methods and key valuation assumptions and data used in estimating the impairment amounts. These judgments consider various factors and events including a) adverse performance of investees; b) adverse industry developments affecting investees; and c) adverse regulatory, social, economic or other developments affecting investees. These judgements include the selection of valuation methods in estimating fair value and the determination of key valuation assumptions used, comprising selection of comparable companies and multiples, and discount for lack of marketability. The Company recognized impairment losses of US$4,038 for the year ended December 31, 2021. There were no impairment losses recognized for the years ended December 31, 2019 and 2020.

(n)	Property and equipment, net

Property and equipment are stated at historical cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated using the straight-line method over their estimated useful lives. The estimated useful lives are as follows:

	Leasehold improvements	Over the shorter of lease term or 2 – 5 years
	Furniture and fixtures	2 – 5 years
	Office equipment	3 – 5 years
	Motor Vehicles	3 – 5 years

Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of property and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statement of comprehensive loss.

2	Principal accounting policies (Continued)

(o)	Acquisitions

(i)

Business combinations

The Group accounts for acquisitions of entities that include inputs and processes and have the ability to create outputs as business combinations. The Group accounts for its business combinations using the acquisition method of accounting in accordance with ASC 805 “Business Combinations” (“ASC 805”). The cost of an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred, and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of (i) the total costs of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of comprehensive loss as gain on bargain purchase. During the measurement period, which can be up to one year from the acquisition date, the Group may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of comprehensive loss.

(ii)

Assets acquisition

ASC 805-10-55-5A, which sets forth a screen test, provides that if substantially all of the fair value of the assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the assets acquired are not considered to be a business. The acquisition should be accounted for by the Company as an asset acquisition in accordance with ASC 805-50, rather than as a business combination. Under an asset acquisition, the cost to acquire the group of assets is allocated to the individual assets acquired or liabilities assumed based on their relative fair values.

(p)	Intangible assets, net

Intangible assets mainly consist of computer software licenses purchased from external parties and computer software and systems, developed technologies, customer relationship, brand name, contract backlog and advertising contract acquired through the acquisitions of subsidiaries. Identifiable intangible assets are carried at acquisition cost less accumulated amortization and impairment loss, if any. Amortization of finite lived intangible assets is computed using the straight-line method over the following estimated useful lives, which are as follows:

	Computer software and systems	2 – 5 years
	Developed technologies	5 years
	Customer relationship	4 – 5 years
	Brand name	4 years
	Contract backlog	3 years
	Advertising contract	30 years

2	Principal accounting policies (Continued)

(q)	Impairment of goodwill

Goodwill represents the excess of the purchase consideration over the fair value of assets and liabilities of businesses acquired. Goodwill is not subject to regular periodic amortization. Instead, management conducts a goodwill impairment test at the reporting unit level annually in the fourth quarter, or more frequently when events or circumstances occur indicating that the recorded goodwill may be impaired.

A reporting unit is an operating segment or a component of an operating segment which is a business and for which discrete financial information is available and reviewed by a segment manager. The Group’s reporting units include (i) the Marketing Solutions and (ii) the Enterprise Solutions.

The Group adopted ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment on January 1, 2020. In accordance with this guidance, the Group compares the fair value of each reporting unit to its carrying value, with an impairment charge recorded for the amount by which the carrying amount exceeds the reporting unit’s fair value up to a maximum amount of the goodwill balance for the reporting unit.

For evaluation of reporting units using a quantitative assessment, the Group determines the fair values of the Marketing Solutions reporting unit and the Enterprise Solutions reporting unit based on a market approach and an income approach, respectively. Under the market approach, the Group estimates the fair value of the Marketing Solutions reporting unit based on market multiples of current year revenue for the reporting unit. Under the income approach, the Group estimates the fair value of the Enterprise Solutions reporting unit based on discounted cash flow method derived from the reporting unit’s long-term forecasts which included a five-year future cash flow projection and an estimated terminal value. The cash flow projection is based on management’s most recent view of the long-term outlook for the Enterprise Solutions reporting unit in order to come up with revenue growth rates, the estimated terminal value using a terminal year long-term future growth rate, discount rates, and other assumptions deemed reasonable by management.

(q)	Impairment of goodwill (Continued)

Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units, and estimating the fair value of each reporting unit. Estimating fair value of individual reporting units requires the exercise of significant management judgment, including judgment in a market approach about the use of significant assumptions with respect to management's identification of comparable entities with similar operations and economic characteristics and their corresponding multiples of revenues for the Marketing Solutions reporting unit, and judgment in an income approach about appropriate revenue growth rates, an estimated terminal value using a terminal year long-term future growth rate and a discount rate for the Enterprise Solutions reporting unit. Changes in these estimates and assumptions could materially affect the estimation of fair value for each reporting unit.

Based on the assessment performed by management, the fair values of Marketing Solutions reporting unit and Enterprise Solutions reporting unit exceeded their carrying values by around 41% and 113%, respectively, as of December 31, 2021. Therefore, no impairment for goodwill was recognized for the year ended December 31, 2021.

(r)	Impairment of other long-lived assets and intangible assets

For other long-lived assets including property and equipment and amortizable intangible assets, the Group evaluates for impairment whenever events or changes (triggering events) indicate that the carrying amount of an asset may no longer be recoverable. The Group assesses the recoverability of the long-lived assets by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to receive from use of the assets and their eventual disposition. Such assets are considered to be impaired if the sum of the

expected undiscounted cash flows is less than the carrying amount of the assets. The impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.

2	Principal accounting policies (Continued)

(s)	Lease accounting

On January 1, 2019, the Group adopted ASC 842, which requires the recognition of the right-of-use assets (“ROU assets”), and related lease liabilities on the consolidated balance sheets using a modified retrospective approach. The consolidated financial statements related to periods prior to January 1, 2019 were not restated, and continue to be reported under ASC Topic 840—Leases ("ASC 840"), which did not require the recognition of operating lease liabilities on the consolidated balance sheets. As a result the consolidated financial statements related to periods prior to January 1, 2019 are not entirely comparative with current and future periods. As permitted under ASC 842, the Group elected several practical expedients that permit the Group to not reassess (1) whether existing contracts are or contain a lease, (2) the classification of existing leases, and (3) whether previously capitalized costs continue to qualify as initial indirect costs. In addition, the Group has elected not to recognize short-term leases on the consolidated balance sheets. In addition, the Group did not use hindsight to determine lease term.

For the identified leases, the Group used its incremental borrowing rate to discount the related future payment obligations as of January 1, 2019 to determine its lease liability as of the adoption date. As of the adoption date on January 1, 2019, the Group recognized lease liabilities of US$2,634 and corresponding ROU assets of US$2,634, with no equity impact from the adoption.

(s)	Lease accounting (Continued)

The Group records rent expense for operating leases, including leases of office premises, on a straight-line basis over the lease term. The Group begins recognition of rent expense on the commencement date, which is generally the date that the asset is made available for use. The lease liability is included in lease liabilities, current and lease liabilities, non-current within the consolidated balance sheets, which are reduced as lease related payments are made. The ROU asset is amortized on a periodic basis over the expected term of the lease. See Note 14 for additional information.

(t)	Deferred revenue

The Group receives prepayments for services in advance of service performance from certain customers. The amounts received in advance are recorded as deferred revenue and recognized as revenue in the period which the corresponding services are performed.

(u)	Derivative financial instrument

ASC 815, “Accounting for Derivative Instruments and Hedging Activities” (“ASC 815”) requires every derivative financial instrument (including certain derivative financial instruments embedded in other contracts) to be recorded on the balance sheet at fair value as either an asset or a liability. ASC 815 also requires that changes in the fair value of recorded derivatives be recognized currently in earnings unless specific hedge accounting criteria are met. The Group’s derivative financial instrument included the call option written to the investor to purchase the convertible notes issued in July 2020 classifies as “derivative liabilities” (the “Call Option”). For the year ended December 31, 2020, the Group recognized fair value losses of US$11,466 on the derivative liabilities. The Call Option was exercised by the investor on July 30, 2020. There was no derivative financial instrument as of December 31, 2020 and 2021.

(v)	Convertible notes

The Group determines the appropriate accounting treatment of its convertible notes in accordance with the terms in relation to the conversion feature, call and put option, and beneficial conversion feature (“BCF”). After considering the impact of such features, the Group may account for such instrument as a liability in its entirety, or separate the instrument into debt and equity components following the respective guidance described under ASC 815 and ASC 470 “Debt”.

2	Principal accounting policies (Continued)

(v)	Convertible notes (Continued)

The conversion features of the convertible notes of the Group meets the definition of a derivative whereby no BCF shall be separately accounted for. Moreover, the Group has elected the fair value option for convertible notes accounted for as a liability in its entirety whereby the conversion features that meet the definition of a derivative are not bifurcated given that the entire debt instrument is legally a single contract therefore not to be separated into parts for purposes of applying the fair value option. Such fair value option permits the irrevocable election on an instrument-by-instrument basis at initial recognition of an asset or liability or upon an event, that gives rise to a new basis of accounting for that instrument. The convertible notes accounted for under the fair value option are carried at fair value with realized or unrealized gains and losses recorded in the consolidated statements of comprehensive loss.

Convertible notes are classified as current liabilities if they are convertible or redeemable on demand or if their due date is or will be within one year from the balance sheet date.

(w)	Treasury shares

The Company accounted for those shares repurchased as treasury shares at cost in accordance with ASC 505-30, and the treasury shares acquired are shown separately in shareholders’ equity as the Company has not yet decided on the ultimate disposition of those shares. If and when the Company cancels the treasury shares, the difference between the original issuance price and the repurchase price will be debited into additional paid-in capital.

(x)	Revenue recognition and cost of revenues

The following table presents our revenue recognized from contracts with customers disaggregated by the four types of pricing models:

	For the years ended December 31,
	2019		2020		2021
Recognized over time
- Sales agent		6,563		5,834		4,195
- Cost-plus		17,146		26,738		26,062
- SaaS products and services		8,687		28,545		57,756
		32,396		61,117		88,013

Recognized at point in time
- Specified actions		165,263		193,280		212,353
- SaaS products and services		1,749		348		7,336
		167,012		193,628		219,689
Total		199,408		254,745		307,702

The Group’s Marketing Solutions service offerings are the provisions of online advertising services. The Group utilizes a combination of pricing models and revenue is recognized when the related services are delivered based on the specific terms of the contract, which are commonly based on (i) agreed incentive to be earned for being a sales agent of a publisher, (ii) cost-plus or (iii) specified actions (i.e. cost per impression (“CPM”), cost per click (“CPC”), cost per action (“CPA”), cost per sale (“CPS”), cost per lead (“CPL”) or return on investment (“ROI”)) and related campaign budgets, depending on the customers’ preferences and their campaigns launched. Subsequent to the acquisition of Changyi and its subsidiary Suzhou Changyi (together, “Changyi Group”) on January 1, 2019, the Group also offers the Enterprise Solutions via the offering of SaaS products and services.

2	Principal accounting policies (Continued)

(x)	Revenue recognition and cost of revenues (Continued)

The Group recognizes revenue when the Group satisfies a performance obligation by transferring a promised service to a customer. The Group considers the following when determining if a contract exists under which the performance obligations have been satisfied: (i) contract approval by all parties, (ii) identification of each party’s rights regarding the goods or services to be transferred, (iii) specified payment terms, (iv) commercial substance of the contract, and (v) collectability of substantially all of the consideration is probable. Collectability is assessed based on a number of factors, including the creditworthiness of a customer, the size and nature of a customer’s business and transaction history. Revenues are recorded net of value-added taxes.

The Group follows the guidance provided in ASC 606, Revenue from Contracts with Customers, for determining whether the Group is the principal or an agent in arrangements with customers that involve another party that contributes to providing a specified service to a customer. In these instances, the Group determines whether it has promised to provide the specified service itself (as principal) or to arrange for the specified service to be provided by another party (as an agent). This determination depends on the facts and circumstances of each arrangement and, in some instances, involves significant judgment. The Group recognizes revenue from sales agent and cost-plus arrangement amounting to US$23,709, US$32,572, and US$30,257 for the years ended December 31, 2019, 2020 and 2021, respectively, on a net basis as the Group is not primarily responsible for the fulfillment considering the Company only acts as an intermediary in executing transactions between the publishers and the customers, does not have control of the promised service as the Company only places orders based on specification set out by the customers, and does not have full discretion in establishing prices and therefore is the agent in the arrangement with customers. All other revenue of US$175,699, US$222,173 and US$277,445 for the years ended December 31, 2019, 2020 and 2021, respectively, are reported on a gross basis, as the Group has determined it is the principal in the arrangement.

Sales agent

In the arrangement with a particular publisher, the Group acts as a sales agent for this publisher in selling marketing spaces to marketing clients. In return, the Group earns incentives from this publisher based on contractually stipulated amounts when certain spending thresholds are achieved. The Group considers this particular publisher as a customer and record such incentives as net revenues. Incentives from this publisher are calculated on both a quarterly and an annual basis in accordance with the terms as set out in the arrangement.

Revenue under this arrangement is recognized over time given the Group considers this particular publisher simultaneously receives and consumes the benefits provided by the Group's performance as the Group performs. In other words, when the Group purchases marketing spaces on behalf of the marketing clients throughout the marketing campaigns as requested by them, this particular publisher simultaneously receives and consumes the benefit of the marketing spaces being purchased and therefore the Group is entitled to incentive payment from this publisher.

The Group grants rebates to marketing clients under the sales agent arrangement. The majority of marketing clients under this arrangement are not customers under either the cost-plus arrangement or specified actions arrangement. The Group records rebates granted to such marketing clients as reduction of revenue.

Cost-plus

For cost-plus advertisement campaigns, sales are recognized at the fair value of the amount received. Discounts granted to marketing clients under cost-plus marketing campaigns are recorded as a reduction of revenue. The determination of whether revenue should be reported on a gross or net basis is based on an assessment of whether the Group is acting as the principal or an agent in the transactions. In the normal course of business, the Group acts as an intermediary in executing transactions between website publishers and marketing clients. The specified service in the cost-plus arrangement is the provision of marketing space, which is controlled by the website publishers, rather than the Group. The Group assists the marketing clients to place orders with specific website publishers based on specification set out the marketing clients. The Group does not have the ability to direct the use of marketing space and does not have any inventory risk. Pricing is generally based on the actual advertising spending incurred by the marketing clients plus a margin. Accordingly, the Group concludes that it is not the

principal in these arrangements and reports revenue earned and costs incurred related to these transactions on a net basis.

2	Principal accounting policies (Continued)

(x)	Revenue recognition and cost of revenues (Continued)

Cost-plus (Continued)

Revenue under this arrangement is recognized over time as the Group considers its customers simultaneously receive and consume the benefits provided by the Group's performance. At the time the Group purchases marketing spaces during the contract term for its customers, the customers’ advertisements could be placed throughout the marketing campaign. Revenue recognition under this arrangement is not based on an occurrence of significant act or milestone method.

Throughout the various services delivered to clients under the cost-plus arrangements, the Group earns rebates from publishers and grant rebates to marketing clients. The rebates that the Group grants to marketing clients under cost-plus arrangement are recorded as reduction of revenue and are recorded based on the amount the marketing clients would ultimately need to spend to earn the corresponding level of rebates. The Group is also able to reasonably estimate the spending the customers can ultimately achieve based on the historical spending patterns of the customers with similar arrangements. The rebates that the Group receives from publishers under the cost-plus arrangements are recorded as revenue. These rebates are recognized when a particular milestone is achieved (i.e. applying the relevant rebates based on the level of spending threshold actually achieved) and spending has actually occurred.

Specified actions

The Group also generates revenue from performing specified actions (i.e. a CPM, CPC, CPA, CPS, CPL or ROI basis). Revenue is recognized on a CPM or CPC basis as impressions or clicks are delivered while revenue on a CPA, CPS, CPL or ROI basis is recognized once agreed actions are performed. For the specified actions advertisement campaigns, the Group is the principal as it has the obligation to deliver successful actions requested by marketing clients. Also, the Group will only be paid if successful actions can be delivered and is exposed to risk of loss. In terms of pricing, the Group has complete latitude in establishing the selling prices of each of the CPM, CPC, CPA, CPS, CPL or ROI pricing model. The Group's margin may vary as the costs incurred to deliver successful actions may vary and is therefore exposed to risk of loss whereby validating its degree of responsibility to its customers. Although the inventory risk under specified actions arrangement is considered to be low, the Group concludes that it is the principal in such arrangement as it is the principal ultimately responsible for delivering successful actions and in charge of establishing the price per action. Accordingly, the Group reports revenue earned and costs incurred related to these transactions on a gross basis.

Revenues under this arrangement is recognized at point-in-time when the Group is able to deliver the specified actions as requested by the customers. Upon the occurrence of the specified actions, the customers take control of the specified actions and this is when the Group recognizes the corresponding revenue. Unlike the cost-plus arrangement, when the Group purchases marketing spaces in order to deliver the specified actions, the customers do not receive and consume the benefit as the benefit to be received by the customers is the occurrence of the specified actions. Also, the Group does not create or enhance an asset that the customers control as the marketing spaces ultimately belong to the publishers. The Group does not have any right to payment for simply purchasing the marketing spaces and would only be compensated upon delivery of the specified actions.

The Group also grants rebates to marketing clients under the specified actions arrangement. Same as the treatment under cost-plus arrangement, the rebates that the Group grants to marketing clients under cost-plus arrangement are recorded as reduction of revenue and are recorded based on the amount the marketing clients would ultimately need to spend to earn the corresponding level of rebates. The rebates that the Group receives from publishers under the specified actions arrangement are recorded as a reduction of cost of revenues. These rebates are recognized when a particular milestone is achieved (i.e. applying the relevant rebates based on the level of spending threshold actually achieved) and spending has actually occurred.

2	Principal accounting policies (Continued)

(x)	Revenue recognition and cost of revenues (Continued)

Specified actions (Continued)

Cost of revenues consists of the costs to purchase space for the online advertising operations, amortization expenses related to the Group's computer software and systems, salaries and benefits of relevant operations and support personnel and depreciation of relevant property and equipment depreciation. The Group becomes obligated to make payments related to website publishers in the period the marketing impressions and click-through occur. Such expenses are classified as cost of revenues in the consolidated statements of comprehensive loss as incurred. Cost of revenues also includes rebates received from website publishers which are recorded as a reduction of cost of revenues when the Group is acting as a principal in a transaction. Following recent reforms of PRC tax laws, business tax is gradually being replaced by VAT, which is recorded as a reduction of revenue.

SaaS products and services

Under this arrangement, the Group offers SaaS products and services through provision of software and data analytical tool licenses, customer relationship management (“CRM”) solutions and digitalized operational solutions services. Revenues under this arrangement primarily consist of fees for (i) licensing to provide customers with access to one or more of the existing cloud applications for e-commerce, marketing and customer management, (ii) the development of new cloud applications customized for individual customer, (iii) licenses for on-premises software, and (iii) various combinations of software and data analytical tool licenses, CRM solutions, and digitalized operational solutions services provided by the Group. Contracts with customers under this arrangement are generally with a term of 1 to 24 months.

Revenues from licensing of existing cloud applications are generally recognized ratably over time over the contract term beginning on the date that the licensing service is made available to the customer, whereby the Group considers that its customers simultaneously receive and consume the benefits provided by the use of existing cloud applications. The Group does not have other right to consideration in exchange for goods or service that the Group has transferred to a customer when that right is conditional on something other than the passage of time.

Revenues from developing new cloud applications exclusively customized for customers and licenses for on-premises software is recognized at point-in-time when the Group is able to deliver the cloud applications to customers or when the Group provides customers with right to use the on-premises software. The Group considers the transfer of control of new cloud applications/software to customer, which represents a distinct performance obligation, to be completed when such cloud applications/software are on-premise and fully functional such that the customer can use and benefit from the cloud applications/software on its own.

Besides, the Group also provides certain additional services along with the above arrangements of cloud application development and software licensing, such as technical support, bug fixes, CMR solutions and digitalized operational solutions. These additional services are considered to be a series of distinct services that are substantially the same and have the same duration and measure of progress; therefore, the Group concludes that they represent a separate combined performance obligation. Revenues from such additional services are recognized ratably over-time over the contract period.

The respective stand-alone selling prices of each of these performance obligations are determined based upon observable prices in stand-alone transactions and contractually stated price whereby no allocation of selling prices among individual performance obligations are required.

Cost of revenues for SaaS products and services primarily comprises amortization expenses related to the Group’s computer software and systems, salaries and benefits of relevant operations and support personnel, depreciation of relevant property and equipment and other direct service costs.

2	Principal accounting policies (Continued)

(x)	Revenue recognition and cost of revenues (Continued)

Contract balances

Timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable represent amounts invoiced and revenue recognized prior to invoicing when the Group has satisfied its performance obligations and has the unconditional right to payment. The Group normally does not have contract assets, which are primarily unbilled accounts receivable that are conditional on something other than the passage of time.

Deferred revenue represents contract liabilities which related to unsatisfied performance obligations at the end of the period. Due to the generally short-term duration of the contracts, the majority of the performance obligations are satisfied in the following reporting period. Revenue recognized during the years ended December 31, 2020 and 2021, respectively, relating to deferred revenue as of January 1, 2020 and 2021 was US$15,760 and US$18,795, respectively. For the amount remained as deferred revenue as of January 1, 2020 and 2021, respectively, but not recognized as revenue during the years ended December 31, 2020 and 2021, respectively, there is still a contractual obligation for the Group to provide service whereby the Group is not obliged to make any refund of the amount received from customers. Such amount will be recognized as revenue when all of the revenue recognition criteria are met.

Revenue recognized in the current period from performance obligations related to prior periods was not material.

Practical Expedients

The Group has used the following practical expedients as allowed under ASC 606:

(i)

The transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, has not been disclosed as substantially all of the Group’s contracts have a duration of one year or less.

(ii)

Payment terms and conditions vary by contract type, although terms generally include a requirement of prepayment or payment within one year or less. In instances where the timing of revenue recognition differs from the timing of invoicing, the Group has determined that its contracts generally do not include a significant financing component.

(iii)

The Group generally expenses sales commissions when incurred because the amortization period would be one year or less. These costs are recorded within sales and marketing expenses.

(y)	Prepaid media costs

Prepaid media costs represent prepayments for online space paid by the Group to third party publishers of websites. Upon utilization, media costs are recognized in cost of revenues when the Group is determined as acting as the principal. However, when the Group is determined as acting as the agent, those costs are recognized as deduction to revenue by the Group. These prepayments are classified as current considering the corresponding online spaces are expected to be purchased and utilized within twelve months from the date of payments.

2	Principal accounting policies (Continued)

(z)	Research and development expenses

Research and development expenses consist primarily of (i) salary and welfare for research and development personnel, (ii) leases expenses and (iii) depreciation of office premise and servers utilized by research and development personnel. Costs incurred during the research stage are expensed as incurred. Costs incurred in the development stage, prior to the establishment of technological feasibility, which is when a working model is available, are expensed when incurred.

The Group accounts for internal use software development costs in accordance with guidance on intangible assets and internal use software. This requires capitalization of qualifying costs incurred during the software’s application development stage and to expense costs as they are incurred during the preliminary project and post implementation/operation stages.

The Group incurred development costs in connection with an internal-use enterprise resource planning (“ERP”) software to further enhance management to monitor the business. While internal and external costs incurred during the preliminary project stage are expensed as incurred, costs relating to activities during the application development stages have been capitalized. For the years ended December 31, 2019, 2020 and 2021, the Group has capitalized development costs related to ERP software of US$229, US$156 and US$111, respectively, as intangible assets. In addition, the Group incurred other research and development costs in relation to other internal use software used to support its operations. Any development costs qualified for capitalization were immaterial for the periods presented. For the years ended December 31, 2019, 2020 and 2021, the Group has not capitalized any other costs related to internal use software other than the ERP software.

(aa)	Sales and marketing expenses

Sales and marketing expenses consist primarily of (i) advertising and marketing expenses, and (ii) salary and welfare for sales and marketing personnel. Advertising expenses are recorded as sales and marketing expenses when incurred, and totaled US$13,084, US$8,658 and US$10,458 for the years ended December 31, 2019, 2020 and 2021, respectively.

(ab)	General and administrative expenses

General and administrative expenses consist primarily of (i) salary and welfare for general and administrative personnel, (ii) professional service fees, and (iii) allowance for credit losses.

(ac)	Employee social security and welfare benefits

Employees of the Group in the PRC are entitled to staff welfare benefits including pension, work-related injury benefits, maternity insurance, medical insurance, unemployment benefit and housing fund plans through a PRC government-mandated multi-employer defined contribution plan. The Group is required to contribute to the plan based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government.

The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Group’s obligations are limited to the amounts contributed and no legal obligation beyond the contributions made.

The Group also makes payments to other defined contribution plans for employees employed by subsidiaries outside the PRC. The Company and subsidiaries incorporated in Hong Kong are required to make contributions to Mandatory Provident Funds under the Hong Kong Mandatory Provident Fund Schemes Ordinance. Such contributions are recognized as an expense in profit or loss as incurred.

2	Principal accounting policies (Continued)

(ad)	Non-controlling interests

The non-controlling interests are presented in the consolidated balance sheets, separately from equity attributable to the shareholders of the Company. Non-controlling interests are presented on the face of the consolidated statement of comprehensive loss as an allocation of the total income or loss for the year between non-controlling interests holders and the shareholders of the Company.

(ae)	Income taxes

Current income taxes are provided on the basis of net income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions.

Deferred income taxes are accounted for using an asset and liability method. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax base of an asset or liability is the amount attributed to that asset or liability for tax purpose. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statements of comprehensive loss in the period of change. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion of, or all of the deferred tax assets will not be realized.

Uncertain tax positions

The guidance on accounting for uncertainties in income taxes 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. Guidance was also provided on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. Significant judgment is required in evaluating the Group’s uncertain tax positions and determining its provision for income taxes. The Group recognizes interests and penalties, if any, under accrued expenses and other current liabilities on its consolidated balance sheets and under other expenses in its statements of comprehensive loss. The Group did not recognize any significant interest and penalties associated with uncertain tax positions for the years ended December 31, 2019, 2020 and 2021. As of December 31, 2020 and 2021, the Group did not have any significant unrecognized uncertain tax positions.

2	Principal accounting policies (Continued)

(af)	Share-based compensation

The Company grants stock-based awards, including share options, restricted share units and warrants of the Company, to eligible employees, officers, directors, and non-employee consultants. The Company accounts for share-based awards granted to employees in accordance with ASC 718, "Compensation - Stock Compensation" and share-based awards granted to non-employees in accordance with ASC subtopic, 505-50 (“ASC 505-50”), “Equity-Based Payments to Non-Employees”. ASC 505. On January 1, 2019, the Group adopted ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvement to Nonemployee Share-based Payment Accounting to amend the accounting for share-based payment awards issued to non-employees. Under ASU 2018-07, the accounting for awards to non-employees are similar to the model for employee awards.

Option and RSUs granted to employees

Under the fair value recognition provisions of ASC 718-10, share-based compensation costs are measured at the grant date. The share-based compensation expenses have been categorized as either general and administrative expenses, sales and marketing expenses or research and development expenses, depending on the job functions of the grantees. For the options and RSUs granted to employees, the compensation expense is recognized using the graded-vesting attribution approach over the requisite service period, which is generally the vesting period. Forfeitures are estimated at the time of grant, with such estimate updated periodically and with actual forfeitures recognized currently to the extent they differ from the estimate. In determining the fair value of the Company’s share options, the binomial option pricing model has been applied. The fair value of RSUs is determined with reference to the fair value of the underlying shares.

Option modification

According to ASC 718, a change in any of the terms or conditions of equity based awards shall be accounted for as a modification of the award. Therefore, the Group calculates incremental compensation cost of a modification as the excess of the fair value of the modified option over the fair value of the original option immediately before its terms are modified. For vested options, the Group would recognize incremental compensation costs on the date of modification and for unvested options, the Group would recognize, prospectively and over the remaining requisite service period, the sum of the incremental compensation costs and the remaining unrecognized compensation costs for the original award.

Option, RSUs and warrants granted to non-employees

Effective January 1, 2019, the Company adopted ASU No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (“ASU 2018-07”), which expands the scope of Topic 718 to include share-based payment awards to nonemployees. As a result, stock-based awards granted to consultants and non-employees are accounted for in the same manner as awards granted to employees as described above. The impact of adoption of this new guidance did not have a material impact on the Group’s consolidated financial statements. Prior to the adoption of ASU 2018-07, for share-based awards granted to non-employees, the Company accounted for the related share-based compensation expenses in accordance with ASC subtopic, 505-50 (“ASC 505-50”), “Equity-Based Payments to Non-Employees”. Under the provision of ASC 505-50, these options, RSUs and warrants are measured as of the earlier of the date at which either: (1) commitment for performance by the non-employee has been reached; or (2) the non-employee’s performance is complete.

Options and warrants of the Company issued to non-employees are measured based on fair value of the options and warrants which are determined by using the binomial option pricing model and RSUs of the Company issued to non-employees are measured based on fair value of the RSUs which are determined with reference to the fair value of the underlying shares.

2	Principal accounting policies (Continued)

(ag)	Government subsidies

The Group receives subsidies from Hong Kong and the local PRC government for general use. General-use subsidies which are not subject to any conditions or specific use requirements are recorded as subsidy income in the consolidated statements of comprehensive loss.

(ah)	Statutory reserves

The Company’s subsidiaries, a consolidated VIE and subsidiaries incorporated in the PRC, are required on an annual basis to make appropriations of retained earnings set at certain percentage of after-tax profit determined in accordance with PRC accounting standards and regulations (“PRC GAAP”).

Appropriation to the statutory general reserve should be at least 10% of the after tax net income determined in accordance with the legal requirements in the PRC until the reserve is equal to 50% of the entities’ registered capital. The Group is not required to make appropriation to other reserve funds and the Group does not have any intentions to make appropriations to any other reserve funds.

The general reserve fund can only be used for specific purposes, such as setting off the accumulated losses, enterprise expansion or increasing the registered capital. Appropriations to the general reserve funds are classified in the consolidated balance sheets as statutory reserves.

There are no legal requirements in the PRC to fund these reserves by transfer of cash to restricted accounts, and the Group was not done so.

Relevant laws and regulations permit payments of dividends by the PRC subsidiaries and affiliated companies only out of their retained earnings, if any, as determined in accordance with respective accounting standards and regulations. Accordingly, the above balances are not allowed to be transferred to the Company in terms of cash dividends, loans or advances.

(ai)	Related parties

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation.

(aj)

Dividends

Dividends are recognized when declared. No dividends were declared for the years ended December 31, 2019, 2020 and 2021, respectively. The Group does not have any present plan to pay any dividends on ordinary shares in the foreseeable future. The Group currently intends to retain the available funds and any future earnings to operate and expand its business.

2	Principal accounting policies (Continued)

(ak)	Loss per share

Basic loss per share is computed by dividing net loss attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the year using the two class method. The Group uses the two-class method to calculate net loss per share though both classes share the same rights in dividends. Therefore, basic and diluted loss per share are the same for both classes of ordinary shares. Using the two class method, net loss is allocated between ordinary shares based on their participating rights.

Diluted loss per share is calculated by dividing net loss attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalents shares outstanding during the year. Dilutive equivalent shares are excluded from the computation of diluted loss per share if their effects would be anti-dilutive. Ordinary share equivalents consist of the ordinary shares issuable in connection with the Group’s convertible notes and ordinary shares issuable upon the conversion of the stock options and warrants and vesting of RSUs, using the treasury stock method.

(al)	Comprehensive income/loss

Comprehensive income/loss is defined as the change in shareholders’ equity of the Group during a period arising from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders.

Comprehensive income/loss is reported in the consolidated statements of comprehensive loss. Accumulated other comprehensive income/losses of the Group include the foreign currency translation adjustments.

(am)	Segment reporting

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision making group, in deciding how to allocate resources and in assessing performance. The CODM is comprised of certain members of the Company's management team.

The Group’s organizational structure is based on a number of factors that the CODM uses to evaluate, view and run its business operations which include, but are not limited to, customer base, homogeneity of products and technology. The Group’s operating segments are based on this organizational structure and information reviewed by the Group’s CODM to evaluate the operating segment results.

The Group reports two operating segments: 1) Marketing Solutions, and 2) Enterprise Solutions. This segment reporting aligns with the manner in which the Group’s CODM currently receives and uses financial information to allocate resources and evaluate the performance of reporting segments.

2	Principal accounting policies (Continued)

(an)	Recently issued accounting pronouncements

In January 2020, the FASB issued ASU No. 2020-01, “Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)”, that clarifies the interactions between Topic 321, Topic 323, and Topic 815. The amendments in this ASU affect the application of the measurement alternative for certain equity securities and the equity method of accounting, and guidance for certain forward contracts and purchased options to purchase securities, that, upon settlement or exercise, would be accounted for under the equity method of accounting. The ASU is effective for public entities in fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted. The Group did not early adopt and is currently evaluating the impact of adopting this ASU on its consolidated financial statements.

In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. The amendments in this update provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The ASU is currently not expected to have a material impact on the consolidated financial statements.

In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. The ASU is effective for public in fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Group did not early adopt and is currently evaluating the impact of adopting this ASU on its consolidated financial statements.

In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt— Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40), which clarifies and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The ASU is effective for public in fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted for all entities, including adoption in an interim period. The Group did not early adopt and is currently evaluating the impact of adopting this ASU on its consolidated financial statements.

In July 2021, the FASB issued ASU No. 2021-05, Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payment. The amendment clarifies the criterion of a lease with variable lease payments not to depend on a reference index or a rate as an operating lease. The ASU is effective for fiscal years beginning after December 15, 2021, for all entities. Entities that have adopted Topic 842 before the issuance date of this Update have the option to apply the amendments in this Update either (1) retrospectively to leases that commenced or were modified on or after the adoption of Update 2016-02 or (2) prospectively to leases that commence or are modified on or after the date that an entity first applies the amendments. The Group did not early adopt and is currently evaluating the impact of adopting this ASU on its consolidated financial statements.

2	Principal accounting policies (Continued)

(an)	Recently issued accounting pronouncements (Continued)

In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which clarifies the accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency regarding (i) the recognition of an acquired contract liability; and (ii) payment terms and their effect on subsequent revenue recognized by the acquirer. The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption of the amendments is permitted. The Group did not early adopt the amendments. The Group is currently evaluating the impact of adopting this ASU on its consolidated financial statements.

Certain risks and concentration

12 Months Ended

Dec. 31, 2021

Risks And Uncertainties [Abstract]

Certain risks and concentration

3	Certain risks and concentration

(a)	PRC regulations

The China market in which the Group operates poses certain macro-economic and regulatory risks and uncertainties. These uncertainties extend to the ability of the Group to engage in online advertising businesses through contractual arrangements in the PRC since the internet and marketing services industries remain regulated. The Group conducts certain of its operations in the PRC through its variable interest entity, which it consolidates as a result of a series contractual arrangements enacted. Though the PRC has, since 1978, implemented a wide range of market-oriented economic reforms, continued reforms and progress towards a full market-oriented economy are uncertain. In addition, the telecommunication, information, and media industries remain highly regulated. Restrictions are currently in place and are unclear with respect to which segments of these industries foreign owned entities, like the Group, may operate. The Chinese government may issue from time to time new laws or new interpretations on existing laws to regulate areas such as telecommunication, information and media. Regulatory risk also encompasses the interpretation by the tax authorities of current tax laws, and the Group’s legal structure and scope of operations in the PRC, which could be subject to further restrictions resulting in limitations on the Group’s ability to conduct business in the PRC.

There are uncertainties regarding the interpretation and application of current and future PRC laws, rules and regulations, including but not limited to the laws, rules and regulations governing the validity and enforcement of the contractual arrangements with consolidated VIE. The Group believes that the structure for operating its business in the PRC (including the ownership structure and the contractual arrangements with the consolidated VIE is in compliance with all applicable existing PRC laws, rules and regulations, and does not violate, breach, contravene or otherwise conflict with any applicable PRC laws, rules or regulations. However, the Group cannot assure that the PRC regulatory authorities will not adopt any new regulation to restrict or prohibit foreign investments in the online advertising business through contractual arrangements in the future or that it will not determine that the ownership structure and contractual arrangements violate PRC laws, rules or regulations.

3	Certain risks and concentration (Continued)

(a)	PRC regulations (Continued)

If the Company and its consolidated VIE are found to be in violation of any existing or future PRC laws or regulations, or fail to obtain or maintain any of the required permits or approvals, the relevant PRC regulatory authorities would have broad discretion in dealing with such violations, including:

•

revoking the business licenses of such entities;

•

discontinuing or restricting the conduct of any transactions between the Company’s PRC subsidiaries and OptAim VIE;

•

imposing fines, confiscating the income of OptAim VIE or the Company’s PRC subsidiaries, or imposing other requirements with which the Company or its PRC subsidiaries and OptAim VIE may not be able to comply;

•

requiring the Company to restructure its ownership structure or operations, including terminating the contractual arrangements with OptAim VIE and deregistering the equity pledges of OptAim VIE, which in turn would affect its ability to consolidate, derive economic interests from, or exert effective control over OptAim VIE; or

•

restricting or prohibiting its use of the proceeds of any offering to finance its business and operations in the PRC.

If the imposition of any of these penalties precludes the Group from operating its business, it would no longer be in a position to generate revenue or cash from it. If the imposition of any of these penalties causes the Company to lose its rights to direct the activities of its consolidated VIE or its rights to receive its economic benefits, the Company would no longer be able to consolidate these entities, and its financial statements would no longer reflect the results of operations from the business conducted by VIE except to the extent that the Company receives payments from VIE under the contractual arrangements. Either of these results, or any other significant penalties that might be imposed on the Company in this event, would have a material adverse effect on its financial condition and results of operations. Nevertheless, the laws and regulations that imposed restrictions on foreign ownership in advertising companies, including the Administrative Provisions on Foreign-Invested Advertising Enterprises were abolished in June 2015. To the extent any current or future business of OptAim VIE can be directly operated by the Company’s wholly owned subsidiaries under PRC law, the Company is in the process of transferring such business to the Company’s wholly owned subsidiaries.

On January 19, 2015, the Ministry of Commerce (“MOFCOM”), released for public comment a proposed PRC law, the Draft Foreign Investment Law, that appeared to include VIEs within the scope of entities that could be considered to be foreign investment enterprises (“FIEs”), that would be subject to restrictions under existing PRC law on foreign investment in certain categories of industry. The National People’s Congress approved the Foreign Investment Law on March 15, 2019, effective on January 1, 2020. The Foreign Investment Law removes all references to the terms of “de facto control” or “contractual control” as defined in the draft published in 2015. However, the Foreign Investment Law has a catch-all provision under the definition of “foreign investment” which includes investments made by foreign investors in China through means stipulated in laws or administrative regulations or other methods prescribed by the State Council. In the event that the State Council in the future promulgates laws and regulations that deem investments made by foreign investors through contractual arrangements as “foreign investment,” the Group’s ability to use the contractual arrangements with its VIE and the Group’s ability to conduct business through the VIE could be severely limited.

3	Certain risks and concentration (Continued)

(a)	PRC regulations (Continued)

Furthermore, on December 19, 2020, the NDRC and MOFCOM promulgated the Foreign Investment Security Review Measures, which took effect on January 18, 2021. Under the Foreign Investment Security Review Measures, investments in military, national defense-related areas or in locations in proximity to military facilities, or investments that would result in acquiring the actual control of assets in certain key sectors, such as critical agricultural products, energy and resources, equipment manufacturing, infrastructure, transport, cultural products and services, IT, Internet products and services, financial services and technology sectors, are required to be approved by designated governmental authorities in advance. Although the term “investment through other means” is not clearly defined under the Foreign Investment Security Review Measures, the Company cannot rule out the possibility that control through contractual arrangement may be regarded as a form of actual control and therefore require approval from the competent governmental authority. As the Foreign Investment Security Review Measures were recently promulgated, there are great uncertainties with respect to its interpretation and implementation. Accordingly, there are substantial uncertainties as to whether the Group’s VIE structure may be deemed as a method of foreign investment in the future. If the VIE structure were to be deemed as a method of foreign investment under any future laws, regulations and rules, and if any of the Group’s business operations were to fall under the “negative list” for foreign investment, we would need to take further actions in order to comply with these laws, regulations and rules, which may materially and adversely affect our current corporate structure, business, financial condition and results of operations.

The Company’s ability to control the VIE also depends on the powers of attorney the founders have to vote on all matters requiring shareholder approval in the VIE. As noted above, these powers of attorney are believed to be legally enforceable but may not be as effective as direct equity ownership.

OptAim VIE holds assets that are important to the operation of the Group’s business, including patents for proprietary technology and trademarks. If OptAim VIE falls into bankruptcy and all or part of its assets become subject to liens or rights of third-party creditors, the Group may be unable to conduct major part of its business activities in the PRC, which could have a material adverse effect on the Group’s future financial position, results of operations or cash flows. However, the Group believes this is a normal business risk many companies face. The Group will continue to closely monitor the financial conditions of OptAim VIE.

OptAim VIE’s assets comprise both recognized and unrecognized revenue-producing assets. The recognized revenue-producing assets include leasehold improvements, computers and network equipment and computer software which are recognized in the Group’s consolidated balance sheet. The unrecognized revenue-producing assets mainly consist of patents, trademarks and assembled workforce which are not recorded in the financial statements of OptAim VIE as it did not meet the recognition criteria set in ASC 350-30-25.

3	Certain risks and concentration (Continued)

(a)	PRC regulations (Continued)

The following table sets forth the financial data for the VIE and VIE’s subsidiaries on an aggregated basis. For purposes of this presentation, activities within and between the VIE and VIE subsidiaries have been eliminated, but transactions with other entities within the consolidated group have been included without elimination. Presentation of the comparative amounts for 2019 and 2020 have been expanded to conform to the current year presentation.

	As of December 31,
	2020		2021
Assets
Cash and cash equivalents		2,113		2,681
Accounts receivable, net		1,720		3,586
Prepaid media costs		1,587		1,151
Amounts due from subsidiaries of the Group		6,643		5,879
Other current assets		1,012		1,266
Property and equipment, net		82		65
Intangible assets		336		140
Right-of-use assets		484		384
Other long-term investment	-			1,233
Other non-current assets		12	-
Total assets		13,989		16,385

Liabilities
Accounts payable		371		2,262
Deferred revenue		644		88
Lease liabilities		484		384
Bank borrowing		457		1,889
Income tax payable		483		575
Amounts due to subsidiaries of the Group		1,878		2,120
Accrued liabilities and other current liabilities		1,519		1,444
Deferred tax liabilities		146		99
Total liabilities		5,982		8,861

3	Certain risks and concentration (Continued)

(a)	PRC regulations (Continued)

	For the years ended December 31,
	2019			2020			2021

Net revenues
From subsidiaries of the Group (Note)		1,645			4,761			1,028
From third parties		19,025			17,341			22,837
		20,670			22,102			23,865
Net loss (Note)		(451	)		(1,755	)		(900	)

	For the years ended December 31,
	2019			2020			2021
Net cash (used in)/provided by operating activities
From subsidiaries of the Group		(1,500	)		2,141			772
From third parties		1,358			(2,110	)		(2,453	)
		(142	)		31			(1,681	)

Net cash used in investing activities		(69	)		(29	)		(14	)

Net cash provided by financing activities
Receipts of advances Group companies	588			-				1,588
Repayments for advances from Group companies		(588	)	-				(554	)
Other financing activities	-			457				1,161
	-			457				2,195

Note:

Services from VIE and VIE’s subsidiaries to other group companies

The VIE and VIE’s subsidiaries provide online advertising service to other group companies. For the years ended December 31, 2019, 2020 and 2021, the intercompany online advertising service revenues recognized by VIE and VIE’s subsidiaries were US$1,469, US$4,761 and US$911, respectively. These transactions are eliminated at the consolidation level.

The VIE and VIE’s subsidiaries also provide other marketing services to other group companies. For the years ended December 31, 2019, 2020 and 2021, the intercompany other marketing service revenues recognized by VIE and VIE’s subsidiaries were US$176, US$nil and US$117, respectively. These transactions are eliminated at the consolidation level.

Services from other group companies to VIE and VIE’s subsidiaries

WFOE as primary beneficiary and other subsidiaries of the Group provide online advertising service and SaaS services to VIE and VIE’s subsidiaries. For the years ended December 31, 2019, 2020 and 2021, the intercompany online advertising and SaaS service revenues from VIE and VIE’s subsidiaries recognized by WFOE as primary beneficiary and other subsidiaries of the Group were US$4,023, US$996 and US$49, respectively. These transactions are eliminated at the consolidation level.

As of December 31, 2019, 2020, and 2021, there were no balances for management fees charged to VIE and VIE’s subsidiaries.

In accordance with the VIE arrangements, the Group has the power to direct activities of OptAim VIE, and can have assets transferred out of OptAim VIE. Therefore, the Group considers that there are no assets of OptAim VIE that can be used only to settle their obligations.

3	Certain risks and concentration (Continued)

(b)	Foreign exchange risk

Assets and liabilities of non-US$ functional currency entities are translated into US$ using the applicable exchange rates at the balance sheet date. Items in the statements of comprehensive loss are translated into US$ using the average exchange rate during the period. Equity accounts were translated at their historical exchange rates. The resulting translation adjustments are accumulated as a component of accumulated other comprehensive income on the consolidated statements of shareholders’ equity.

Certain of the Group’s operating activities are transacted in Renminbi (“RMB”), which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China.

The revenues and expenses of the Group’s subsidiaries, VIE and VIE’s subsidiaries in the PRC are generally denominated in RMB and their assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies, and remittances of foreign currencies into the PRC and exchange of foreign currencies into RMB require approval by foreign exchange administrative authorities and certain supporting documentation. The State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into other currencies. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices and signed contracts. The value of RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market.

Certain of the Group’s operating activities are transacted in Hong Kong dollars (“HK$”). Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations. The Group considers the foreign exchange risk in relation to transactions denominated in HK$ with respect to US$ is not significant as HK$ is pegged to US$.

3	Certain risks and concentration (Continued)

(c)	Fair value measurement

(i)

Financial assets and liabilities measured at fair value on a recurring basis

The following table sets forth, by level within the fair value hierarchy (Note 2(e)), financial assets and liabilities measured at fair value as of December 31, 2020 and 2021. As required by ASC 820, financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the respective fair value measurement.

	Fair value measurements using
	Quoted prices in active market for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)			Total fair value
As of December 31, 2020
Short-term investments		2,342		10,281	-				12,623
Contingent consideration payable	-		-			(7,755	)		(7,755	)
		2,342		10,281		(7,755	)		4,868

As of December 31, 2021
Short-term investments	-			1,574	-				1,574
Debt investment	-		-			2,550			2,550
Other long-term investments	-		-			12,114			12,114
Contingent consideration payable	-		-			(4,507	)		(4,507	)
	-			1,574		10,157			11,731

3	Certain risks and concentration (Continued)

(c)	Fair value measurement (Continued)

(i)

Financial assets and liabilities measured at fair value on a recurring basis (Continued)

The following table presents the changes in Level 3 financial liabilities for the years ended December 31, 2020 and 2021.

	Convertible notes at fair value				Derivative liabilities				Contingent consideration payable
	For the years ended December 31,				For the years ended December 31,				For the years ended December 31,
	2020			2021	2020			2021	2020		2021
Balance at the beginning of year		49,008		-	-			-	-			7,755
Fair value changes		4,433		-		11,466		-		81		418
Business combination (Note 4(d))	-			-	-			-		7,674	-
New issuance of convertible notes		19,184		-	-			-	-		-
Issuance of convertible notes upon exercise of call option		11,466		-		(11,466	)	-	-		-
Conversion of convertible notes		(68,895	)	-	-			-	-		-
Redemption of convertible notes		(15,196	)	-	-			-	-		-
Settlement of contingent consideration	-			-	-			-	-			(3,666	)
Balance at the end of year	-			-	-			-		7,755		4,507

The following table presents the changes in Level 3 financial assets for the year ended December 31, 2021. There was no financial asset measured using Level 3 input as of December 31, 2020.

	Debt investment – Convertible note
	For the years ended December 31,
	2020	2021
Balance at the beginning of year	-	-
Acquisition	-		2,550
Balance at the end of year	-		2,550

3	Certain risks and concentration (Continued)

(c)	Fair value measurement (Continued)

(ii)

Fair value measurement on a non-recurring basis

Equity securities without readily determinable fair value accounted for using the measurement alternative are recorded at fair value only if an impairment or observable price adjustment is recognized in the current period. These non-recurring fair value measurements use significant unobservable inputs (Level 3). The Group uses market approach based on the Group’s best estimate to determine the fair value of these investments. An observable price change is usually resulting from new rounds of financing of the investees. The Group determines whether the securities offered in new rounds of financing are similar to the equity securities held by the Group by comparing the rights and obligations of the securities. When the securities offered in new rounds of financing are determined to be similar to the securities held by the Group, the Group adjusts the observable price of the similar security to determine the amount that should be recorded as an adjustment in the carrying value of the security to reflect the current fair value of the security held by the Group. There were no fair value changes related to such equity securities due to the observable price change of the investment without readily determinable fair value in the consolidated balance sheets for the years ended December 31, 2020 and 2021.

The Group assesses the existence of indicators for other-than-temporary impairment of the investments by considering factors as detailed in Note 2(m). The Group recognized US$nil, US$nil and US$4,038 impairment charges to investments in equity securities without readily determinable fair value classified as other long-term investments for the years ended December 31, 2019, 2020 and 2021. In determining the fair value of these investments in equity securities, market multiple method was used, with significant input including (i) a discount for lack of marketability of 20%, and (ii) price-to-sales multiples of comparable companies ranging from 2.4 to 6.5.

The following table presents the changes in financial asset measured using Level 3 input on a non-recurring basis for the years ended December 31, 2020 and 2021.

	Other long-term investments
	For the years ended December 31,
	2020		2021
Balance at the beginning of year		1,503		8,651
Investments made/transferred from prepayments		7,135		7,417
Fair value changes	-		-
Impairment on investments	-			(4,038	)
Exchange differences		13		84
Balance at the end of year		8,651		12,114

3	Certain risks and concentration (Continued)

(d)	Concentration risk (Continued)

(i)

Concentration of revenues

For the years ended December 31, 2020 and 2021, no individual customer accounted for more than 10% of the net revenues. For the year ended December 31, 2019, one customer accounted for 14% of the net revenues.

(ii)

Concentration of accounts receivable

The Group conducts credit evaluations on its customers and generally does not require collateral or other security from such customers. The Group grants up to 180 days of credit term to customers and periodically evaluates the creditworthiness of the existing customers in determining an allowance for doubtful accounts primarily based upon the age of the receivables and factors surrounding the credit risk of specific customers.

As of December 31, 2020 and 2021, no individual customer accounted for more than 10% of the consolidated accounts receivable. The top 10 accounts receivable accounted for 39% and 37% of the consolidated accounts receivable as of December 31, 2020 and 2021, respectively.

(iii)

Credit risk

As of December 31, 2020 and 2021, substantially all of the Group’s cash and cash equivalents, time deposits and restricted cash were placed with financial institutions in Hong Kong and the PRC. Management chooses these institutions because of their reputations and track records for stability, and their known large cash reserves, and management periodically reviews these institutions’ reputations, track records, and reported reserves. Management expects that any additional institutions that the Group uses for its cash and bank deposits will be chosen with similar criteria for soundness. The balances in the PRC are not insured since it is not a market practice in the PRC. Nevertheless under the PRC law, it is required that a commercial bank in the PRC that holds third party cash deposits should maintain a certain percentage of total customer deposits taken in a statutory reserve fund for protecting the depositors’ rights over their interests in deposited money. PRC banks are subject to a series of risk control regulatory standards; PRC bank regulatory authorities are empowered to take over the operation and management of any PRC bank that faces a material credit crisis. The Group believes that it is not exposed to unusual risks as these financial institutions are PRC banks with high credit quality. The Group had not experienced any losses on its cash and cash equivalents, time deposits and restricted cash during the years ended December 31, 2019, 2020 and 2021 and believes that its credit risk to be minimal.

Acquisitions

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Acquisitions

4	Acquisitions

(a)	Acquisition of Changyi

In January 2019, the Company acquired 34.38% equity interest of Changyi, a company established in the PRC and an independent software vendor based in Shanghai, the PRC. Changyi and its underlying subsidiary Suzhou Changyi became subsidiaries of the Company effective from January 1, 2019 as the Company established control over Changyi Group through certain shareholder agreements since then. Other shareholders of Changyi Group expect the operating effectiveness brought about by the control over Changyi Group by the Company to be of their best interests. Changyi Group provides intelligent retail and CRM solutions to clients, allowing them to consolidate consumer’s online and offline information to provide connection within the organization and stakeholders. The Company expects to increase its market share in the data-driven Enterprise Solutions segment beyond digital marketing through Changyi Group.

The total purchase consideration for 34.38% equity interest of Changyi amounted to RMB42.6 million (equivalent to approximately US$6,190) by cash.

The acquisition was recorded as a business combination. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:

Fair value of consideration transferred:

	Cash			6,190

Recognized amounts of identifiable assets acquired and liabilities assumed:

Cash	219
Other current assets	490
Property and equipment	56
Intangible assets	1,830
Current liabilities	(405	)
Deferred tax liabilities	(274	)
Non-controlling interests	(11,815	)
Total identifiable net deficits acquired	(9,899	)
Goodwill (Note 13)	16,089

As of December 31, 2019, purchase consideration payable of US$6,190 was settled and there is no adjustment to the purchase consideration amounts.

The excess of purchase price over tangible assets, identifiable intangible assets acquired and liabilities assumed was recorded as goodwill. Goodwill associated with the acquisition of Changyi was attributable to the expected synergy arising from the Enterprise Solutions operations. The acquired goodwill is not deductible for tax purposes. Acquisition-related costs were immaterial and were included in general and administrative expenses for the year ended December 31, 2019.

4	Acquisition (Continued)

(a)	Acquisition of Changyi (Continued)

In determining the fair value of the intangible assets, an income approach was used. In this approach, significant estimates consist of discount rate of 30.2% and a growth rate on revenue ranging from 10% to 30% over a period of 5 years. The estimated amounts recognized on the acquired identifiable intangible asset and its estimated useful life are shown in the following table:

Intangible assets	Estimated useful life	Gross carrying amount
Developed technologies	5 years		117
Customer relationship	5 years		1,103
Contract backlog	3 years		610
			1,830

Net revenue and net loss of Changyi for the year ended December 31, 2019 were US$5,518 and US$997, respectively.

(b)	Acquisition of Addoil

In February 2019, the Company acquired 100% equity interest of Addoil, a company incorporated in Hong Kong. Addoil and its underlying subsidiary Headline (together, “Addoil Group”) are engaged in the business of developing and operating a mobile application that collects and utilizes data from users who use its social functionalities to share food and travel related contents.

The total purchase consideration for all the equity interest of Addoil Group amounted to US$1,218 by cash. The acquisition was recorded as a business combination. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:

Fair value of consideration transferred:

	Cash			1,218

Recognized amounts of identifiable assets acquired and liabilities assumed:

Cash	18
Other current assets	42
Property and equipment	34
Right-of-use asset	34
Current liabilities	(35	)
Total identifiable net assets acquired	93
Goodwill (Note 13)	1,125

As of December 31, 2019, purchase consideration payable of US$1,218 was settled and there is no adjustment to the purchase consideration amounts.

The excess of purchase price over tangible assets and liabilities assumed was recorded as goodwill. Goodwill associated with the acquisition of Addoil Group was attributable to the expected synergy arising from the consolidated Marketing Solutions business. The acquired goodwill is not deductible for tax purposes. Acquisition-related costs were immaterial and were included in general and administrative expenses for the year ended December 31, 2020.

4	Acquisition (Continued)

(b)	Acquisition of Addoil (Continued)

Pro-forma results related to the acquisition in accordance ASC 805 have not been presented because the acquisition of Addoil Group is not material, where net revenue and net loss of the acquired entity is less than 5% of the Company’s consolidated net revenue and net loss for the year ended December 31, 2019.

(c)	Acquisition of Optimal

In May 2020, the Company acquired 80% equity interest of Optimal, a company incorporated in the British Virgin Islands. Optimal, through its wholly-owned subsidiary, has a business cooperation agreement entered into with a global media asset owner to act as its authorized digital advertising representative in the PRC for a period of 30 years, which will be automatically renewed annually as long as the Company continues to perform related payment obligations on an annual license fee of RMB30 thousand (equivalent to US$5). The agreement is essentially an advertising contract. The Company expects to increase its market share in the Marketing Solution segment in the PRC upon acquisition of this advertising contract.

The acquisition was determined to be an asset acquisition as Optimal did not contain outputs or a substantive process as at the date of acquisition, therefore it does not constitute a business under ASC 805.

The Company issued 3,589,744 Class A ordinary shares to the seller with a fair value of US$31,949, determined based on the fair value for 80% equity interest of Optimal.

The following table summarizes the estimated fair values of assets acquired and liabilities assumed at the date of acquisition:

Cash	3,001
Intangible asset	53,287
Other liabilities	(3,030	)
Deferred tax liabilities	(13,322	)
Non-controlling interests	(7,987	)
Total identifiable net assets acquired	31,949

The intangible asset represents the advertising contract, which is amortized using the straight-line method over the estimated useful life of 30 years.

In December 2020, the Company has acquired the remaining 20% equity interest of Optimal (Note 1(a)(v)).

(d)	Acquisition of CMRS Group Holding Limited

In October 2020, the Group acquired 100% equity interest in CMRS Group Holding Limited (“CMRS”), a company incorporated in Hong Kong. CMRS and its underlying subsidiaries (together, “CMRS Group”) are engaged in the provision of digital marketing, social media and key opinion leaders and smart content generation enterprise solution services. The Company expects to increase its market share in both Marketing and Enterprise Solutions segments with the combination of data-driven consumer experience management as well as digital content marketing and management to maximize digital marketing potential and efficiency through CMRS Group.

The total purchase consideration for CMRS Group amounted to US$14,449. This is comprised of cash consideration of HK$33,594 (equivalent to approximately US$4,335), 182,950 Class A ordinary shares of the Company with a fair value of US$2,440 and contingent consideration payable at a fair value of US$7,674.

4	Acquisitions (Continued)

(d)	Acquisition of CMRS Group Holding Limited (Continued)

The acquisition was recorded as a business combination. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:

Fair value of consideration transferred:

Cash (Note (i))		4,335
Class A ordinary shares of the Company		2,440
Contingent consideration (Note (ii))		7,674
	14,449

Recognized amounts of identifiable assets acquired and liabilities assumed:

Cash	3,651
Restricted cash (Note (iii))	532
Accounts receivable	4,149
Intangible assets (Note (v))	2,194
Other assets	1,792
Deferred tax liabilities	(362	)
Other liabilities	(6,216	)
Total identifiable net assets acquired	5,740
Goodwill (Notes 4(d)(iv), 13)	8,709

Note:

(i)

Out of the total cash consideration of US$4,335, US$959 was settled during the year ended December 31, 2020 and the remaining balance of US$3,376 was settled during the year ended December 31, 2021. There is no adjustment to the cash consideration amounts.

(ii)

Contingent consideration are contingently payable upon the satisfaction of certain financial performance targets of the Company and market conditions, which are to be settled partially by cash and partially by ordinary shares of the Company. The number of ordinary shares to be issued and allotted to sellers is determined using the 10-day moving average closing price of the ADS of the Company.

Contingent consideration is measured at fair value at the acquisition date using projected milestone dates, probabilities of success and projected financial results of the CMRS Group discounted at its fair value as at the acquisition date.

In determining the fair value of the contingent consideration, an income approach was applied by using discounted cash flows. In this approach, projected risk-adjusted contingent payments are discounted back to the current period using a discounted cash flow model. The key assumptions used to determine the fair value of the contingent consideration include projected milestone dates within 24 months after acquisition date and discount rate of 4.32%. Increase or decrease in the fair value of contingent consideration liabilities primarily result from changes in the estimated probabilities of achieving net profits after tax thresholds or market share prices milestones during the period.

4	Acquisitions (Continued)

(d)	Acquisition of CMRS Group Holding Limited (Continued)

During the year ended December 31, 2021, the Company has partially settled contingent consideration payable with (i) total cash of US$2,024 and (ii) 183,740 Class A ordinary shares of the Company with a fair value of US$2,060 on the grant date of such consideration shares. The change in fair value recorded in consolidated statement of comprehensive loss under "other gains, net" for the years ended December 31, 2020 and 2021 amounted to a loss of US$81 and a gain of US$418, respectively. The remaining contingent consideration payable of US$4,507 is repayable in December 2022, which is recorded as current liabilities in the consolidated balance sheet as of December 31, 2021.

(iii)

The restricted cash includes an escrow amount of US$506 deposited with a bank which has been repaid to the sellers in 2021.

(iv)

The excess of purchase price over tangible assets, identifiable intangible assets acquired and liabilities assumed was recorded as goodwill. Goodwill associated with the acquisition of CMRS Group was attributable to the expected synergy with the existing Enterprise Solutions and Marketing Solutions operations. The acquired goodwill is not deductible for tax purposes. Acquisition-related costs were immaterial and were included in general and administrative expenses for the year ended December 31, 2020.

(v)

In determining the fair value of the intangible assets, an income approach was used. In this approach, significant estimates consist of discount rate of 22.3% and a growth rate on revenue ranging from 3.0% to 6.2% over a period of 4 years. The estimated amounts recognized on the acquired identifiable intangible assets and their estimated useful lives are shown in the following table:

Intangible asset	Estimated useful life	Gross carrying amount
Brand name	4 years		1,162
Customer relationship	4 years		1,032
			2,194

Unaudited pro forma net revenues and net loss of the Company for the years ended December 31, 2019 and 2020 as if the acquisition of CMRS Group had occurred on January 1, 2019 were as follows.

	For the years ended December 31,
	2019			2020
Net revenues		221,603			270,326
Net loss		(10,505	)		(13,346	)

The Company did not have any material, non-recurring pro-forma adjustments directly attributable to the business combination reflected in the reported pro-forma net revenue and net loss.

The pro forma information is not necessarily indicative of the actual results that would have been achieved had CMRS Group acquisition occurred as of January 1, 2019 or the results that may be achieved in future periods.

4	Acquisition (Continued)

(e)	Acquisition of Sky Gem International Limited

In April 2021, the Company acquired 51% equity interest of Sky Gem International Limited and its subsidiaries (together “Sky Gem”).

Sky Gem, which is principally engaged in the business of developing and providing SaaS solution for apparel business owners across various functions including production line management, enterprise resources planning, order management system, sales channel management and customer management in the PRC, Hong Kong, Macau and Taiwan. Upon completion of the acquisition, the Group expects to increase its market share in the data-driven Enterprise Solutions segment businesses beyond digital marketing through Sky Gem.

The total purchase consideration amounted to US$3,200 which is wholly settled in cash. The acquisition was accounted for as a business combination. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:

Fair value of consideration transferred:

	Cash			3,200

Recognized amounts of identifiable assets acquired and liabilities assumed:

Other assets	2,000
Other liabilities	(17	)
Non-controlling interests	(3,072	)
Total identifiable net assets acquired, net of non-controlling interests	(1,089	)
Goodwill (Note 13)	4,289

As of December 31, 2021, purchase consideration of US$3,200 was fully settled and there is no adjustment to the purchase consideration amounts.

The excess of purchase price over total identifiable net assets acquired, net of non-controlling interests, was recorded as goodwill. Goodwill associated with the acquisition of Sky Gem was attributable to the expected synergy arising from the consolidated Enterprise Solutions business. The acquired goodwill is not deductible for tax purposes. Acquisition-related costs were immaterial and were included in general and administrative expenses for the year ended December 31, 2021.

Pro-forma results related to the acquisition in accordance ASC 805 have not been presented because the contribution of net revenue and net loss of the acquired entity is less than 1% of the Company’s consolidated net revenue and net loss for the year ended December 31, 2021.

4	Acquisitions (Continued)

(f)	Acquisition of a customer relationship management (“CRM”) platform

In July 2021, the Group completed an acquisition of a PRC-based CRM platform namely Parllay which provides WeChat-based CRM, e-commerce and marketing SaaS solutions to facilitate the growth of the Company’s Enterprise Solutions segment. iClick anticipates utilizing Parllay's rich expertise in SaaS technology and the assembled workforce to further enhance iClick's product and services and accelerate revenue of its Enterprise Solutions segment.

The total purchase consideration for all the assets amounted to US$1,825, which is wholly settled in cash. The acquisition was accounted for as a business combination as it contains outputs and a substantive process that together significantly contribute to the ability to create outputs as at the date of acquisition. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:

Fair value of consideration transferred:

Cash consideration

1,825

Recognized amounts of identifiable assets acquired and liabilities assumed:

Intangible assets	279
Deferred tax liabilities	(70	)
Total identifiable net assets acquired	209
Goodwill (Note 13)	1,616

As of December 31, 2021, purchase consideration of US$1,825 was fully settled and there is no adjustment to the purchase consideration amounts.

The excess of purchase price over total identifiable net assets acquired was recorded as goodwill. Goodwill associated with the acquisition of Parllay was attributable to the expected synergy arising from the consolidated Enterprise Solutions business. The acquired goodwill is not deductible for tax purposes. Acquisition-related costs were immaterial and were included in general and administrative expenses for the year ended December 31, 2021.

In determining the fair value of the intangible asset, an income approach was used. In this approach, significant estimates consist of discount rate of 22.7% and a compound annual growth rate on revenue of 32% over a period of 5 years. The estimated amounts recognized on the acquired identifiable intangible asset and its estimated useful life are shown in the following table:

Intangible asset

Estimated

useful life

Gross

carrying

amount

Developed technology

5 years

279

Pro-forma results related to the acquisition in accordance ASC 805 have not been presented because the acquisition of Parllay is not material, where net revenue and net loss contributed by Parllay is less than 5% of the Company’s consolidated net revenue and net loss for the year ended December 31, 2021.

Cash and cash equivalents and time deposits

12 Months Ended

Dec. 31, 2021

Cash And Cash Equivalents [Abstract]

Cash and cash equivalents and time deposits

5	Cash and cash equivalents and time deposits

Cash and cash equivalents represent cash on hand, cash held at bank, and short-term deposits placed with banks or other financial institutions, which have original maturities of three months or less.

As of December 31, 2020 and 2021, the Group had time deposits of US$89 and US$11,128 respectively with an average original maturity of 3 months which are denominated in US$.

Cash and cash equivalents and time deposits as of December 31, 2020 and 2021 primarily consist of the following currencies:

	As of December 31,
	2020				2021
	Amount in thousand		US$ equivalent		Amount in thousand		US$ equivalent
RMB		105,792		16,108		111,651		17,576
HK$		110,094		14,206		63,787		8,231
US$		21,635		21,635		26,077		26,077
European dollars		107		128		297		336
Singapore dollars		138		103		217		159
New Taiwan dollars		2,303		80		3,118		113
Japanese Yen		966		9		3,163		29
Others		67		52		67		50
				52,321				52,571

Restricted cash

12 Months Ended

Dec. 31, 2021

Restricted Cash [Abstract]

Restricted cash

6	Restricted cash

As of December 31, 2020, except for an amount of US$506 in relation to escrow amount deposited for a business acquisition (Note 4(d)), the Company’s remaining restricted cash of US$41,639 represented bank balances held in restricted bank accounts pursuant to certain bank borrowings (Note 17). As of December 31, 2021, all the restricted cash represented bank balances held in restricted bank accounts pursuant to certain bank borrowings (Note 17).

Restricted cash carried fixed interest at a weighted average rate of 0.33% (2020: 0.57%) per annum, out of which US$26,111 (2020: US$41,613), US$nil (2020: US$26) and US$10,035 (2020: US$nil) are denominated in US$, HK$ and RMB, respectively.

Equity investment

12 Months Ended

Dec. 31, 2021

Equity Method Investments And Joint Ventures [Abstract]

Equity investment

7	Equity investment

On May 31, 2019, the Company and VGI Global Media PLC (“VGI”), an online-to-offline solutions provider across advertising, payment and logistics platforms in Thailand, jointly established a new company namely V-Click Technology Company Limited (“V-Click”). VGI holds a majority stake of 51% in V-Click and the Company holds the remaining 49% stake. The investment was accounted for as an equity-method investment due to the significant influence the Company has over the operating and financial policies of V-Click.

7	Equity investment (Continued)

(a)	Investment in an equity investee

Movements on the Group’s investment in V-Click during the years ended December 31, 2020 and 2021 were as follows:

	For the years ended December 31,
	2020			2021
Balance at the beginning of year		158			460
Capital injection		412			—
Share of losses		(111	)		(107	)
Exchange differences		1			1
Balance at the end of year		460			354

The Group recognized its share of the equity investee’s loss of US$111 and US$107 for the years ended December 31, 2020 and 2021, respectively. There was no indicator of impairment noted for this equity-method investment as of December 31, 2020 and 2021.

(b)	Amount due from an equity investee

As of December 31, 2020 and 2021, the amount was due from V-Click in relation to cash advances of US$218 and US $276, respectively, which was unsecured, interest-free and repayable on demand.

Other long-term investments

12 Months Ended

Dec. 31, 2021

Long Term Investments [Abstract]

Other long-term investments

8Other long-term investments

	As of December 31,
	2020		2021
Prepayments for long-term investments		2,924	-

Other long-term investments, gross		8,651		16,152
Less: Impairment	-			(4,038	)
		8,651		12,114

The Group’s other long-term investments consist of securities without readily determinable fair value and over which the Group has neither significant influence nor control through investments in common stock or in-substance common stock.

8Other long-term investments (Continued)

Movement of other long-term investments and prepayments for long-term investments for the years ended December 31, 2020 and 2021 is as follows:

	For the years ended December 31,
	2020		2021
Balance at the beginning of year		2,503		11,575
Investments made/transferred from prepayments		7,129		4,502
Prepayments made		1,901	-
Impairment	-			(4,038	)
Exchange differences		42		75
Balance at the end of year		11,575		12,114

Representing:
Prepayments for long-term investments		2,924	-
Other long-term investments		8,651		12,114
		11,575		12,114

The Group used measurement alternative for recording equity investments without readily determinable fair values at cost, less impairment, adjusted for subsequent observable price changes. Based on ASU 2016-01, entities that elect the measurement alternative will report changes in the carrying value of the equity investments in current earnings. If measurement alternative is used, changes in the carrying value of the equity investment will be recognized whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer, and impairment charges will be recorded when any impairment indicators are noted and the fair value is lower than the carrying value.

The Group, with the assistance of an independent valuer, assessed the fair value of certain investments as of the balance sheet date, using significant unobservable input including price-to-sales multiples of comparable companies and a discount for lack of marketability (the “DLOM”). The Group concluded that impairment was warranted for certain investments as of December 31, 2021 and recognized US$4,038 (2020: US$nil) impairment charges for investments without readily determinable fair value for the year ended December 31, 2021, which are related to investees in sports nutrition products business, e-commerce platforms business, and publishing and advertising business whose financial performance was unsatisfactory with no obvious upturn or potential financing solutions in the foreseeable future.

Accounts receivable, net

12 Months Ended

Dec. 31, 2021

Accounts Receivable Net Current [Abstract]

Accounts receivable, net

9	Accounts receivable, net

	As of December 31,
	2020			2021
Accounts receivable, gross (Note)		154,891			210,047
Less: allowance for credit losses (Note 2(j))		(11,749	)		(22,786	)
Accounts receivable, net		143,142			187,261

Note:

As of December 31, 2021, the balance includes bills receivable of US$478 (2020: US$852) which represent short-term notes receivable issued by reputable financial institutions that entitle the Group to receive the full face amount from the financial institutions at maturity, which generally range from five to six months from the date of issuance.

Other assets

12 Months Ended

Dec. 31, 2021

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other assets

10	Other assets

Other assets consist of the following:

	As of December 31,
	2020		2021
Current
Deposits		5,359		2,609
Prepayments		5,177		7,520
Loans and interest receivable, net (Notes 2(j), 10(i))		1,480		12,302
VAT recoverable		1,088		1,275
Others		1,034		1,251
		14,138		24,957
Non-current
Rental deposits		468		302
Prepayment		99		1,361
		567		1,663

Note:

(i)

As of December 31, 2021 , the balance represents loans from certain third parties and equity investees of the Group at a weighted average interest of at 6% (2020: 7%) per annum, together with the related interest receivables, which are unsecured and due on demand or within one year from the end of the reporting period.

Property and equipment, net

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Property and equipment, net

11	Property and equipment, net

Property and equipment consist of the following:

	As of December 31,
	2020			2021
Cost:
Office equipment		4,830			5,035
Leasehold improvements		1,842			2,542
Furniture and fixtures		1,094			1,327
Motor vehicles		13			13
Total cost		7,779			8,917
Less: Accumulated depreciation		(6,565	)		(6,918	)
Exchange differences		(101	)		(68	)
Property and equipment, net		1,113			1,931

Depreciation expense recognized for the years ended December 31, 2019, 2020 and 2021 are summarized as follows:

	For the years ended December 31,

	2019		2020		2021
Cost of revenues		2		3		7
Research and development		49		80		152
Sales and marketing expenses		21		96		171
General and administrative expenses		262		202		318
Total		334		381		648

Intangible assets, net

12 Months Ended

Dec. 31, 2021

Intangible Assets Net Excluding Goodwill [Abstract]

Intangible assets, net

12	Intangible assets, net

Intangible assets consist of the following:

	As of December 31,
	2020			2021
Cost:
Computer software		23,189			23,673
Developed technologies		117			117
Customer relationship		2,135			2,135
Brand name		1,162			1,162
Contract backlog		610			610
Advertising contract		53,287			53,287
Total cost		80,500			80,984
Less: Accumulated amortization		(24,095	)		(27,336	)
Exchange differences		26			65
Intangible assets, net		56,431			53,713

Amortization expense recognized for the years ended December 31, 2019, 2020 and 2021 are summarized as follows:

	For the years ended December 31,
	2019		2020		2021
Cost of revenues		4,771		4,187		3,070
Research and development		1	-			-
Sales and marketing expenses	-		-			12
General and administrative expenses		2		2		156
		4,774		4,189		3,238

The estimated aggregate amortization expense for each of the next five years as of December 31, 2021 is:

	Amortization expense of intangible assets
2022		3,200
2023		2,552
2024		2,258
2025		1,840
2026 onwards		43,863
		53,713

Goodwill

12 Months Ended

Dec. 31, 2021

Business Combination Goodwill [Abstract]

Goodwill

Movements on goodwill during the year were as follows:

	Marketing Solutions		Enterprise Solutions		Total
Balance as of January 1, 2020		49,621		16,089		65,710
Goodwill arising from acquisitions during the year (Note 4(d))		3,403		5,306		8,709
Balance as of December 31, 2020		53,024		21,395		74,419
Goodwill arising from acquisitions during the year (Notes 4(e) and (f))	-			5,905		5,905
Exchange differences	-			1,350		1,350
Balance as of December 31, 2021		53,024		28,650		81,674

No impairment charge was recognized for the years ended December 31, 2019, 2020 and 2021, respectively.

Lease accounting

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lease Accounting

14	Lease accounting

The Group adopted ASC 842 as of January 1, 2019. As part of the implementation, the Group recognized its lease liabilities, including the current and non-current portions, within its consolidated balance sheets as of the adoption date, which represents the present value of the Group’s obligation related to the estimated future lease payments. The Group also recognized ROU assets which represent the right to use the leased assets over the period of individual leases. The ROU assets were calculated as the lease liabilities less any asset or liability balances that existed at the time of adoption. The amortization expense of ROU assets amounted to US$1,548, US$1,930 and US$2,785 for the years ended December 31, 2019, 2020 and 2021, respectively.

The lease term is generally specified in lease agreements, however certain agreements provide for lease term extensions or early termination options. To determine the period for the estimated future lease payments, the Group evaluates whether it is reasonably certain that it will exercise the option at the commencement date and periodically thereafter. The lease terms of the Group’s operating leases generally ranged from 12 to 36 months (2020: 12 to 60 months), and the weighted average remaining lease term as of December 31, 2021 was 21 months (2020: 13 months).

To determine the estimated future lease payments, the Group reviews each of its lease agreements to identify the various payment components. The Group includes only the actual lease components in its determination of future lease payments for all the leases. Once the estimated future lease payments are determined, the Group uses a discount rate to calculate the present value of the future lease payments. As of December 31, 2021, a weighted average discount rate of 4.3% (2020: 6.5%) has been applied to the remaining lease payments to calculate the lease liabilities included within the consolidated balance sheets. This represents the incremental borrowing rate the Group would be subject to on borrowings from its available revolving debt agreements.

The following table presents the maturity of the Group’s operating lease liabilities as of December 31, 2021.

2022	2,421
2023	1,387
2024	120
Total operating lease payments (undiscounted)	3,928
Less: Imputed interest	(324	)
Total operating lease liabilities (discounted)	3,604

14	Lease accounting (Continued)

Lease expenses for these leases are recognized on a straight-line basis over the lease term. For short-term leases over which the Group has elected not to apply the recognition requirements of ASC 842, the Group has recognized the lease payments as expenses on a straight-line basis over the lease term. For the years ended December 31, 2019, 2020 and 2021, total lease cost is comprised of the following:

	For the years ended December 31,
	2019	2020		2021
Relating to the operating lease liabilities	1,721		2,155		2,862
Relating to short-term leases	887		912		1,518
	2,608		3,067		4,380

Supplemental cash flow information related to operating leases is as follows:

	For the years ended December 31,
	2019		2020		2021
Cash payments for amounts included in the measurement of operating lease liabilities		2,449		3,067		4,380
Right-of-use assets obtained in exchange for operating lease liabilities		3,199		2,710		3,163

Deferred revenue

12 Months Ended

Dec. 31, 2021

Contract With Customer Asset And Liability [Abstract]

Deferred revenue

15	Deferred revenue

	As of December 31,
	2020		2021
Deferred revenue, current		28,199		22,802

Changes in deferred revenue balance for the years ended December 31, 2020 and 2021 were as follows:

	For the years ended December 31,
	2020			2021
Balance at beginning of year		27,089			28,199
Additions to deferred revenue		203,221			135,292
Recognition of deferred revenue as revenues		(203,599	)		(141,156	)
Exchange differences		1,488			467
Balance at end of year		28,199			22,802

Accrued liabilities and other liabilities

12 Months Ended

Dec. 31, 2021

Accrued Liabilities And Other Liabilities [Abstract]

Accrued liabilities and other liabilities

16	Accrued liabilities and other liabilities

Accrued liabilities and other liabilities consist of the following:

	As of December 31,
	2020		2021
Current
Rebates payable to customers		1,236		733
VAT and other taxes payable		4,440		5,014
Security deposit received from customers		510		418
Accrued employee benefits		8,968		10,548
Accrued professional fees		5,951		5,076
Accrued marketing and hosting expense		2,939		1,326
Consideration payable (Note 4(d))		3,376		4,507
Advance from a former non-controlling interest shareholder (Note)	-			475
Others		1,911		1,638
		29,331		29,735

	As of December 31,
	2020		2021
Non-current
Deferred other income		375		459
Advance from a former non-controlling interest (Note)		4,521	-
		4,896		459

Note:

As of December 31, 2021, the amount represents an advance from the seller of Optimal, a former non-controlling interest of the Company, for the purpose of replenishment of working capital of certain subsidiaries of the Company, which was unsecured, interest-free, and repayable in December 2022.

Bank borrowings

12 Months Ended

Dec. 31, 2021

Debt Instruments [Abstract]

Bank Borrowings

17Bank borrowings

	As of December 31,
	2020		2021
1-year revolving loans denominated in RMB at interest rates of 5.22% (2020: 4.50% to 5.22%) per annum		5,584		31,912
Half-year revolving loan denominated in RMB at interest rates ranging from 3.00% to 6.25% (2020: 3.45% to 6.35%) per annum		35,104		26,691
Revolving service trade loan denominated in HK$ at interest rates ranging from 4.35% to 4.43% (2020: 4.03% to 4.43%) per annum		3,999		84
Rollover period revolving loan denominated in US$ at an interest rate 4.59% per annum		1,000	-
3-month revolving loan denominated in RMB at an interest rate of 3.00% (2020: 3.25%) per annum		10,353		9,917
1-year term loans denominated in RMB at interest rates ranging from 3.85% to 4.50% per annum	-			6,926
		56,040		75,530

Note:

(i)

Corporate guarantee by the Company, bank deposits of the Group of US$36,146 (2020: US$41,639) and accounts receivable of the Group of US$18,250 (2020: US$36,956) are provided as pledge to secure the obligations under the facilities from certain banks.

(ii)

Out of the total banking facilities of US$121,708 and US$213,289 available to the Group as of December 31, 2020 and 2021, respectively, US$56,040 and US$75,530 have been utilized by the Group as of December 31, 2020 and 2021, respectively. As of December 31, 2020 and 2021, total undrawn revolving, service trade and term loan facilities amounted to US$115,338, US$18,013 and US$4,408 (2020: US$58,667, US$6,001 and US$1,000) respectively. Total undrawn facilities available for drawdown as of December 31, 2021, net of bank deposits that would need to be pledged as restricted cash upon utilization of the facilities, amounted to US$33,326.

(iii)

As of December 31, 2021 certain financial covenants (minimum quarterly EBITDA as defined in the banking facilities agreements) as set out in these loan agreements have been breached. The Group has obtained waiver letters such that the bank would not demand immediate repayment from the Group. As of December 31, 2020, no financial covenants as set out in these loan agreements were breached.

The weighted average interest rate for bank borrowings outstanding as of December 31, 2020 and 2021 was 4.19% and 4.64% per annum, respectively. Other than those shown above, the Company did not have any significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2020 and 2021.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08(c))
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Convertible notes at fair value

12 Months Ended

Dec. 31, 2021

Debt Instrument Fair Value Disclosure [Abstract]

Convertible notes at fair value

18	Convertible notes at fair value

The Company has issued certain convertible notes in September 2018 (the “2018 Notes”), November 2019 (the “November 2019 Notes”), December 2019 (the “December 2019 Notes”), January 2020 (the “January 2020 Notes”) and July 2020 (the “July 2020 Notes”). The November 2019 Notes and December 2019 Notes together are referred to as the “2019 Notes”. The January 2020 Notes and July 2020 Notes together are referred to as the “2020 Notes”. There were no outstanding convertible notes as of December 31, 2020 and 2021.

Convertible notes	Issue date	Maturity date	Principal amounts		Coupon rate
			US$		%
2018 Notes	September 12, 2018	September 12, 2023		30,000		0
November 2019 Notes	November 11, 2019	November 11, 2022		20,000		5
December 2019 Notes	December 16, 2019	December 16, 2022		10,000		5
January 2020 Notes	January 23, 2020	September 12, 2023		3,450		0
July 2020 Notes	July 30, 2020	September 12, 2023		13,100		0

The movement of transactions of these convertible notes during the years ended December 31, 2019 and 2020 is shown in the table below.

	2018 Notes			2019 Notes			2020 Notes			Total
Balance as of January 1, 2019		34,837		-			-				34,837
Years ended December 31, 2019
Fair value changes	41				(174	)	-				(133	)
New issuance	-				30,000		-				30,000
Conversion of convertible notes (Note (iii))		(4,431	)	-			-				(4,431	)
Redemption of convertible notes (Note (iv))		(11,265	)	-			-				(11,265	)
Balance as of December 31, 2019		19,182			29,826		-				49,008
Years ended December 31, 2020
Fair value changes		3,644		445			344				4,433
New issuance	-			-				19,184			19,184
Issuance of convertible notes upon exercise of call option (Note (v))	-			-				11,466			11,466
Conversion of convertible notes (Note (iii))		(7,630	)		(30,271	)		(30,994	)		(68,895	)
Redemption of convertible notes (Note (iv))		(15,196	)	-			-				(15,196	)
Balance as of December 31, 2020	-			-			-			-

18	Convertible notes at fair value (Continued)

Note:

(i)

All the convertible notes together with the embedding conversion options are recognized as financial liabilities whereby the Company has elected the fair value option under ASC 825-10 to measure the entire instrument at fair value with realized or unrealized gains and losses recorded in the consolidated statements of comprehensive loss. Also, ASC 825-10-25-11 requires financial instrument that is legally a single contract not to be separated into parts for purposes of applying the fair value option.

(ii)

Issuance costs related to the convertible notes for which the fair value option is elected amounting to US$4,556 and US$44 for the years ended December 31, 2019 and 2020 respectively. Such costs have been recognized in earnings as incurred and not deferred in accordance with ASC 825-10-25-3.

(iii)

Details of the conversion of convertible notes for the year ended December 31, 2020 are as follows.

Convertible notes	Conversion date	Principal amount converted		Number of ADSs converted		Conversion price per ADS US$		Fair value of converted convertible notes as of the conversion date
For the year ended December 31, 2020
2018 Notes	June 30, 2020		1,000		248,050		4.03		1,551
2018 Notes	July 24, 2020		1,000		236,546		4.23		1,752
2018 Notes	August 11, 2020		2,000		536,596		3.73		4,327
November 2019 Notes	February 18, 2020		20,000		5,128,206		3.90		20,282
December 2019 Notes	February 18, 2020		10,000		2,564,102		3.90		9,989
January 2020 Notes	February 3, 2020		3,450		1,088,876		3.17		4,346
July 2020 Notes	July 30, 2020		13,100		3,851,694		3.40		26,648
			50,550		13,654,070				68,895

18	Convertible notes at fair value (Continued)

Note: (Continued)

(iv)

The Company has redeemed the 2018 Notes on the following dates.

Redemption date	Principal amount		Consideration paid for redemption
August 22, 2019		3,000		3,261
November 14, 2019		3,450		4,002
December 12, 2019		3,450		4,002
		9,900		11,265
February 3, 2020		6,900		8,004
March 31, 2020		6,200		7,192
		13,100		15,196

(v)

Pursuant to an agreement entered into with an independent investor on February 17, 2020, the Company agreed to issue the July 2020 Notes with principal amounts of US$13,100 upon receipt of total cash consideration of US$15,196 from the investor on or before June 16, 2020. This constitutes a call option written to the investor to purchase the July 2020 Notes (the “Call Option”) which is recorded as a derivative liability and measured at fair value. In June 2020, the Company has entered into an addendum with the independent investor to extend the payment due date from June 16, 2020 to July 31, 2020. The investor exercised the Call Option on July 30, 2020, upon which the Company issued the July 2020 Notes to the investor. On the same date, the investor converted the entire July 2020 Notes into 1,925,848 Class A ordinary shares of the Company.

The fair value of the Call Option recorded as derivative liabilities of US$11,466 as of July 30, 2020 was determined using a binomial model with the key assumptions being the volatility of 13.39% and risk-free rate of 0.09%. The volatility was based on the implied historical volatility of certain comparable companies. The risk-free interest rate is equal to the yield of US Treasury Strips with a maturity life equal to the time to maturity of the July 2020 Notes.

18	Convertible notes at fair value (Continued)

Note: (Continued)

(vi)

The fair values of the 2018 Notes, January 2020 Notes and July 2020 Notes as of the dates of conversion and the end of reporting periods were determined using Monte Carlo simulation, with key assumptions summarized in the below table. The volatility was based on the implied historical volatility of certain comparable companies. The risk-free interest rate is equal to the yield, as of the respective measurement dates, of the zero-coupon U.S. Treasury bill that commensurate with the remaining period until the maturity of the convertible notes.

Measurement date	Volatility		Risk-free rate
	%		%
2018 Notes
February 1, 2019		44.59		2.55
March 1, 2019		44.99		2.62
August 22, 2019		43.86		1.47
November 14, 2019		44.34		1.61
December 12, 2019		43.86		1.71
December 31, 2019		44.17		1.67
February 3, 2020		42.09		1.37
March 31, 2020		45.38		0.45
June 30, 2020		51.24		0.24
July 24, 2020		49.26		0.23
August 11, 2020		49.75		0.23
January 2020 Notes
February 3, 2020	42.09		1.37
July 2020 Notes
July 30, 2020	49.45		0.19

(vii)

The fair values of the 2019 Notes were determined using a binomial model with the key assumptions summarized in the below table. The volatility was based on the implied historical volatility of certain comparable companies. The risk-free interest rate is equal to the yield, as of the respective measurement dates, of a 5% coupon U.S. Treasury bill that is commensurate with the remaining period until the maturity of the 2019 Notes. The bond yield was based on the yield of corporate bonds with comparable ratings.

Measurement date	Volatility		Risk-free rate		Bond yield
	%		%		%
November 2019 Notes
December 31, 2019		42.53		1.61		10.09
February 18, 2020		44.02		1.40		10.67

December 2019 Notes
December 31, 2019		42.63		1.61		10.09
February 18, 2020		43.61		1.40		10.67

Ordinary shares

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Ordinary shares

19	Ordinary shares

As of December 31, 2020 and 2021, the Company is authorized to issue 100,000,000 shares of US$0.001 par value per ordinary share, out of which 80,000,000 shares are Class A ordinary shares and 20,000,000 shares are Class B ordinary shares. The holders of Class A ordinary shares shall have one vote in respect of each Class A ordinary share held and the holders of Class B ordinary shares shall have twenty votes in respect of each Class B ordinary share held.

At the time the Company adopted the 2010 Employee Share Option Plan (the “2010 Share Option Plan”) and 2018 Post IPO Share Incentive Plan, the Company, together with the then shareholders, also decided to allot ordinary shares with par value of US$0.001 to Arda Holdings Limited (“Arda”), a British Virgin Islands company owned by Sammy Hsieh, Co-founder and Director of the Company at no consideration. Arda will only hold these ordinary shares on trust for the benefit of the employees who are under the 2010 Share Option Plan and 2018 Post IPO Share Incentive Plan and the dealing of these ordinary shares is under the direction of the board of directors of the Company. The Company considered Arda to be a variable interest entity as this entity has no equity at risk. The Company further considered that it is the primary beneficiary because the purpose of Arda is to hold treasury shares on behalf of the Company and the dealings of those transactions are under the direction of the Company’s board of directors. Given the structure of this arrangement, while these ordinary shares have been legally issued, they do not bear the attributes of unrestricted, issued and outstanding shares. Therefore, the ordinary shares issued to Arda are accounted for as treasury shares of the Company until these ordinary shares are earned by the Company’s employees, officers, directors or consultants for service provided to the Group. The Company allotted 627,811 shares during the year the 2010 Share Option Plan was adopted. No additional shares have been allotted during the years ended December 31, 2019, 2020 and 2021 to Arda. Arda does not hold any other assets or liabilities as of December 31, 2020 and 2021, nor earn any income nor incur any expenses for the years ended December 31, 2019, 2020 and 2021.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Repurchase of shares

12 Months Ended

Dec. 31, 2021

Share Repurchase Program [Abstract]

Repurchase of shares

20	Repurchase of shares

The board of directors of the Company authorized certain share repurchase programs in November 2018 (the “2018 Share Repurchase Program”), January 2020 (the “January 2020 Share Repurchase Program”), December 2020 (the “December 2020 Share Repurchase Program”) and December 2021 (the “December 2021 Share Repurchase Program”), respectively, as detailed in the below table.

Repurchase program	Maximum value of ordinary shares or ADSs of the Company to repurchase		Effective period
2018 Share Repurchase Program		10,000	Period from November 28, 2018 to November 27, 2019
January 2020 Share Repurchase Program		10,000	Period from December 30, 2019 to December 29, 2020
December 2020 Share Repurchase Program		25,000	Period from December 30, 2020 to December 31, 2021
December 2021 Share Repurchase Program		20,000	Year ending December 31, 2022

The share repurchases may be made on the open market at prevailing market prices, in negotiated transactions off the market, and/or in other legally permissible means from time to time as market conditions warrant in compliance with applicable requirements of Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended, at times and in such amounts as the Company deems appropriate.

The following table is a summary of the shares repurchased by the Company during 2019, 2020 and 2021 under the repurchase programs. All shares were purchased through publicly purchasing from the open market.

Period	Total number of ADSs purchased as part of the publicly announced plan		Average price paid per ADS
2018 Share Repurchase Program
- For the year ended December 31, 2019		1,301,912		3.3857
January 2020 Share Repurchase Program
- For the year ended December 31, 2020		768,079		7.0892
December 2020 Share Repurchase Program
- For the year ended December 31, 2020		27,599	8.3686
- For the year ended December 31, 2021		1,209,920	8.8324

Share-based compensation

12 Months Ended

Dec. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-based compensation

21	Share-based compensation

(a)	Share option plan

The Company’s 2010 Share Option Plan provides for the grant of incentive share options to the Company’s employees, officers, directors or consultants. The Company’s board of directors administers the 2010 Share Option Plan, selects the individuals to whom options will be granted, determines the number of options to be granted, and the term and exercise price of each option.

During the years ended December 31, 2019, 2020 and 2021, no share options were granted to non-employees, employees, officers and directors of the Group. The following table summarizes the share option activities for the years ended December 31, 2019, 2020 and 2021:

	Number of share options			Weighted average exercise price		Weighted average grant date fair value		Weighted average remaining contractual life		Aggregate intrinsic value
				US$		US$		years		US$’000
At January 1, 2019		908,409		7.52		N/A			6.27		2,724
Exercised		(135,281	)	1.25		N/A		N/A		N/A
Forfeited		(105,261	)	11.46		N/A		N/A		N/A
At December 31, 2019		667,867			8.16	N/A		5.27			1,807
Vested and expected to vest at December 31, 2019		660,247			4.72		12.08		5.14		780
Exercisable to vest at December 31, 2019		657,142			4.54		12.78		5.64		800
At January 1, 2020		667,867			8.16	N/A			5.27		1,807
Exercised		(235,765	)		3.75	N/A		N/A		N/A
At December 31, 2020		432,102			10.56	N/A			4.28		4,578
Vested and expected to vest at December 31, 2020		430,569			5.10		14.51		5.09		5,215
Exercisable to vest at December 31, 2020		431,245			5.13		14.50		5.09		5,213
At January 1, 2021		432,102			10.56	N/A			4.28		4,578
Exercised		(117,788	)		5.61	N/A		N/A		N/A
At December 31, 2021		314,314			12.41	N/A			3.31		1,601
Vested and expected to vest at December 31, 2021		312,876			4.90		15.25		3.73		1,601
Exercisable to vest at December 31, 2021		314,204			4.95		15.23		3.73		1,601

21	Share-based compensation (Continued)

(a)	Share option plan (Continued)

The aggregate intrinsic value in the table above represents the difference between the estimated fair values of the Company’s ordinary shares as of December 31, 2020 and 2021 and the exercise price.

All share-based payments to employees are measured based on their grant-date fair values. Compensation expense is recognized based on the vesting schedule over the requisite service period. Total fair values of options vested and recognized as expenses for the years ended December 31, 2019, 2020 and 2021 were US$784, US$107 and US$4, respectively.

As of December 31, 2019 and 2020, there were US$96 and US$4 of unrecognized share-based compensation expenses related to share options, which were expected to be recognized over a weighted-average vesting period of 0.86 and 0.25 years, respectively. As of December 31, 2021, there were no unrecognized share-based compensation expenses related to share options. To the extent the actual forfeiture rate is different from the Company’s estimate, the actual share-based compensation related to these awards may be different from the expectation.

The binomial option pricing model is used to determine the fair value of the share options granted to employees and non-employees. There were no grant or modification of share options during the years ended December 31, 2019, 2020 and 2021.

21	Share-based compensation (Continued)

(b)	Post-IPO share incentive plan

The Company’s post-IPO share incentive plan provides for the grant of incentive share options and RSUs to the Company’s employees, officers, directors or consultants. The Company’s board of directors administers the post-IPO share incentive plan, selects the individuals to whom options and RSUs will be granted, determines the number of options and RSUs to be granted, and the term and exercise price of each option and RSU.

During the years ended December 31, 2019, 2020 and 2021, the Company granted RSUs to non-employees, employees, officers and directors of the Group. The following table summarizes the activity of the service-based RSUs for the year ended December 31, 2019, 2020 and 2021:

	Number of RSUs			Weighted average grant date fair value
At January 1, 2019		376,272			8.02
Granted (with a vesting period of 1 to 4 years)		279,480			3.79
Vested		(167,833	)		10.25
Forfeited (Note (ii))		(24,373	)		7.56
At December 31, 2019		463,546			5.52
Expected to vest at December 31, 2019		377,507			7.57

At January 1, 2020		463,546			5.52
Granted (with a vesting period of 0 to 4 years)		1,180,295			7.83
Vested		(962,606	)		6.55
Forfeited/expired (Note (ii))		(46,730	)		7.26
At December 31, 2020		634,505			8.11
Expected to vest at December 31, 2020		620,245			8.83

At January 1, 2021		634,505			8.11
Granted (with a vesting period of 0 to 4 years)		716,265			15.73
Vested		(1,049,007	)		11.32
Forfeited/expired (Note (ii))		(74,186	)		12.73
At December 31, 2021		227,577			17.65
Expected to vest at December 31, 2021		209,878			19.07

Note:

(i)

All share-based payments to employees are measured based on their grant-date fair values. Compensation expense is recognized based on the vesting schedule over the requisite service period. Total fair values and intrinsic value of RSUs vested and recognized as expenses for the years ended December 31, 2019, 2020 and 2021 were US$1,331, US$6,142 and US$11,965 respectively.

(ii)

Forfeitures are estimated at the time of grant. If necessary, forfeitures are revised in subsequent periods if actual forfeitures differ from those estimates. Based upon the Company’s expected forfeitures for RSUs granted, the directors of the Company estimated that its future forfeiture rate would be 1% for employees and 0% for non-employees in 2019, 2020 and 2021, respectively.

21	Share-based compensation (Continued)

(b)	Post-IPO share incentive plan (Continued)

Note: (Continued)

(iii)

During the years ended December 31, 2019 and 2020, the Company has granted RSUs which are subject to certain market conditions based on achievement of stock prices of the Company. The Company determines the fair value of these RSUs as of the date of grant or modification using the Monte Carlo simulation model which utilizes multiple input variables to determine the stock-based compensation expense with the following assumptions: historical volatility ranging from 37.36% to 62.89%, 0% dividend yield, and risk-free interest rates ranging from 0.1%% to 1.72%. The historical volatility was based on the average volatility of the comparable companies for the most recent 1-year period as of the date of grant or modification. The stock price projection for the Company assumes a 0% dividend yield. This is mathematically equivalent to reinvesting dividends in the issuing entity over the performance period. The risk-free interest rate is equal to the yield, as of the measurement date, of the zero-coupon U.S. Treasury bill that is commensurate with the remaining performance measurement period.

(c)	Issuance of warrants to an external consultant

Pursuant to the agreement executed between the Company and an external consultant ("Warrant Agreement"), the Company shall issue warrants to purchase up to 4,651,162 ADSs ("Warrants") to the external consultant in exchange for its financial advisory services which the Warrants shall be vested upon the completion of raising a minimum of US$20,000 by the Company through issuing convertible notes or any equivalent financial instruments. On December 9, 2019, the Company, based on the Warrant Agreement, issued the Warrants to the external consultant as the Company was able to successfully issue the November 2019 Notes. The exercise period of the Warrants commences on December 16, 2020 at an exercise price of US$4.30 per ADS and will expire on December 16, 2022. In accordance with ASC 718, the measurement date for the vested warrants was December 9, 2019. The warrants issued to the consultant are classified as equity awards and measured based on the measurement date fair value of US$0.709 per warrant. During the years ended December 31, 2019, 2020 and 2021, no warrants were exercised.

Since all of the warrants granted were immediately vested, compensation expense of US$3,298 was immediately recognized with a corresponding credit to additional paid-in capital during the year ended December 31, 2019.

The fair value of the warrants granted on December 9, 2019 was estimated by using the binomial option pricing model with the following assumptions:

Volatility	42.1%
Risk-free interest rate		1.6	%
Expected dividend yield		0.0	%
Expected warrant life	3.0 years
Expected forfeiture rate	0.0%

21	Share-based compensation (Continued)

(d)	Issuance of shares to Baozun

Pursuant to the share subscription agreement entered into bgetween Baozun Inc. and iClick (Note 1(d)), Baozun has subscribed for 649,349 newly issued Class B ordinary shares. The Class B ordinary shares were issued to Baozun at US$26.52 per share, which was at discount as compared to the fair value of US$28.88 (i.e. based on the closing stock price as of the date of share issuance). The discount of US$1,530 represented an incentive to Baozun to enter into the strategic cooperation framework agreement with the Company, which was recognized as share-based compensation expense in the consolidated statements of comprehensive loss during the year ended December 31, 2021.

(e)	Total share-based compensation costs

Total share-based compensation costs recognized for the years ended December 31, 2019, 2020 and 2021 are as follows:

	For the years ended December 31,
	2019		2020		2021
Cost of revenues		35		5		12
Research and development		661		92		221
Sales and marketing		655		2,707		9,991
General and administrative		4,062		3,445		3,275
Total		5,413		6,249		13,499

Other gains, net

12 Months Ended

Dec. 31, 2021

Other Income And Expenses [Abstract]

Other gains, net

22	Other gains, net

	For the years ended December 31,
	2019			2020			2021
Net exchange (loss)/gain		(410	)		(421	)		622
Forfeiture of advances from customers (Note (i))		1,369			1,245			1,654
Government subsidy income (Note (ii))		1,394			3,063			3,281
ADR reimbursement from depositary bank		224			251			410
Fair value gains/(losses) on short-term investments		107			1,404			(316	)
Impairment on long-term investments	-			-				(4,038	)
Fair value change in contingent consideration payable	-				(81	)		418
Others		308			391			172
Total		2,992			5,852			2,203

Note:

(i)

The forfeited advances from customers are recognized as other gains when the contractual obligation of the Company to provide the agreed services no longer existed legally due to passage of time.

(ii)

Government subsidy income mainly includes the wage subsidy from the Hong Kong government in 2020 and an additional 10% VAT super-credit subsidy from the PRC government to offset against VAT payable for the period from April 1, 2019 to December 31, 2021.

Income tax

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income tax

23	Income tax

(a)	Cayman Islands and British Virgin Islands

Under the current tax laws of Cayman Islands, the Company and its subsidiaries are not subject to tax on income or capital gains. Besides, upon payment of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed.

The Company's subsidiaries incorporated in the British Virgin Islands are not subject to income or capital gains taxes, estate duty, inheritance tax or gift tax. In addition, payment of dividends to the shareholders of the Company's subsidiaries in the British Virgin Islands are not subject to withholding tax in the British Virgin Islands.

(b)	Hong Kong profits tax

Entities incorporated in Hong Kong are subject to Hong Kong profits tax. Under the two- tiered profits tax rates regime, the first HK$2 million assessable profits of the qualifying group company are subject to Hong Kong profits tax at a rate of 8.25% and the remaining profits are subject at a rate of 16.5% on the estimated assessable profits. The profits of group entities not qualifying for the two-tiered profits tax rates regime will continue to be taxed at a flat rate of 16.5%.

(c)	PRC Enterprise Income Tax (“EIT”)

The Company’s subsidiaries, VIE and VIE’s subsidiaries in the PRC are governed by the Enterprise Income Tax Law (“EIT Law”). Pursuant to the EIT Law and its implementation rules, enterprises in the PRC are generally subjected to tax at a statutory rate of 25%.

High and new technology enterprises (“HNTE”) will enjoy a preferential enterprise income tax rate of 15% under the EIT Law. Some of the Company’s subsidiaries and a VIE’s subsidiary in the PRC are qualified as a HNTE under the EIT Law which are eligible for a preferential enterprise income tax rate of 15% for a period of three years so long as these entities obtain approval from relevant tax authority if they are profitable during the period.

In addition, according to the EIT Law and its implementation rules, foreign enterprises, which have no establishment or place in the PRC but derive dividends, interest, rents, royalties and other income (including capital gains) from sources in the PRC shall be subject to PRC withholding tax (“WHT”) at 10% (a further reduced WHT rate may be available according to the applicable double tax treaty or arrangement). The 10% WHT is applicable to any dividends to be distributed from the Group’s PRC subsidiaries to the Group’s overseas companies unless otherwise exempted pursuant to applicable tax treaties or tax arrangements between the PRC government and the government of other jurisdiction which the WHT is reduced to 5%.

Although there are undistributed earnings of the Company’s subsidiaries in the PRC that are available for distribution to the Company, the undistributed earnings of the Company’s subsidiaries located in the PRC are considered to be indefinitely reinvested, because the Company does not have any present plan to pay any cash dividends on its ordinary shares in the foreseeable future and intends to retain most of its available funds and any future earnings for use in the operation and expansion of its business. Accordingly, no deferred tax liability has been accrued for the PRC dividend withholding taxes that would be payable upon the distribution of those amounts to the Company as of December 31, 2020 and 2021. The undistributed earnings from the Company’s subsidiaries in the PRC as of December 31, 2020 and 2021 of US$1,468 and US$1,324 would be due if these earnings were remitted as dividends as of December 31, 2020 and 2021. An estimated foreign withholding taxes of US$73 and US$66 would be due if these earnings were remitted as dividends as of December 31, 2020 and 2021, respectively.

23	Income tax (Continued)

(d)	Composition of income tax expense

The current and deferred portions of income tax expense included in the consolidated statements of comprehensive loss are as follows:

	For the years ended December 31,
	2019			2020			2021
Current income tax expense		1,130			2,784			3,445
Deferred tax benefits		(1,083	)		(1,151	)		(905	)
Income tax expense		47			1,633			2,540

(e)	Deferred tax assets and liabilities

Deferred taxes were measured using the enacted tax rates for the periods in which they are expected to be reversed. The tax effects of temporary differences that give rise to the deferred tax asset and deferred tax liability balances as of December 31, 2020 and 2021 are as follows:

	As of December 31,
	2020			2021
Deferred tax assets
Tax losses carried forward (Note (i))		4,365			4,410
Share-based payments		759			931
Temporary difference on deferred income		194			254
Less: Valuation allowance (Note (ii))		(4,365	)		(4,410	)
		953			1,185
Deferred tax liabilities
Acquired intangible assets		(13,585	)		(12,993	)
Outside basis difference (Note (iii))		(542	)		(356	)
Others		(29	)		(29	)
		(14,156	)		(13,378	)

Note:

(i)Tax loss carryforwards

As of December 31, 2021, the Group had tax loss carryforwards of approximately US$21,694, which can be carried forward to offset future taxable income. The net operating tax loss carryforwards will begin to expire as follows:

	2022			4,212
	2023			432
	2024			871
	2025			5,740
	2026			9,128
	Tax loss with no expiry			1,311
				21,694

23	Income tax (Continued)

(e)	Deferred tax assets and liabilities (Continued)

Note: (Continued)

(i)Tax loss carryforwards (Continued)

In accordance with PRC Tax Administration Law on the Levying and Collection of Taxes, the PRC tax authorities generally have up to five years to claw back underpaid tax plus penalties and interest for PRC entities’ tax filings. In the case of tax evasion, which is not clearly defined in the law, there is no limitation on the tax years open for investigation. Accordingly, the PRC entities’ tax years from 2017 to 2021 remain subject to examination by the tax authorities. There were no ongoing examinations by tax authorities as of December 31, 2020 and 2021.

(ii)Valuation allowance

Valuation allowance is provided against deferred tax assets when the Group determines that it is more likely than not that the deferred tax assets will not be utilized in the future. In making such determination, the Group considered factors including future taxable income exclusive of reversing temporary differences and tax loss carryforwards. Valuation allowance was provided for net operating loss carryforwards because it was more likely than not that such deferred tax assets will not be realized based on the Group’s estimate of its future taxable income. If events occur in the future that allow the Group to realize more of its deferred income tax than the presently recorded amounts, an adjustment to the valuation allowances will result in a decrease in tax expense when those events occur.

Movement of valuation allowance is as follows:

	For the years ended December 31,
	2019			2020			2021
Beginning balance		6,385			5,923			4,365
Additions		801			1,144			2,768
Reversals (Note)		(1,263	)		(2,702	)		(2,723	)
Ending balance		5,923			4,365			4,410

Note:

The reversals comprise tax loss carryforwards which have been utilized to offset taxable income during the years ended December 31, 2019, 2020 and 2021, respectively, and tax loss carryforwards which were expired in 2019, 2020 and 2021.

(iii)Outside basis difference

The deferred tax liabilities are recorded for the undistributed earnings in the Group’s VIE and its subsidiaries in the PRC of US$2,169 and US$1,422 as of December 31, 2020 and 2021, respectively.

23	Income tax (Continued)

(f)	Income tax reconciliation

Reconciliation between the expense of income taxes computed by applying the statutory tax rates to loss before income taxes and the actual provision for income taxes is as follows:

	For the years ended December 31,
	2019			2020			2021
Tax benefit calculated at statutory tax rates (Note i)		(2,599	)		(3,291	)		(3,488	)
Effect of differences between statutory tax rates and foreign effective tax rates		1,999			4,513			1,746
Non-taxable other income		(235	)		(627	)		(348	)
Non-deductible expenses (Note ii)		1,338			3,202			4,783
Valuation allowance		(462	)		(1,558	)		44
Outside basis difference (Note iii)		(62	)		(400	)		(186	)
Additional deduction of research and development expenses (Note iv)	-				(270	)		(125	)
Others		68			64			114
Income tax expense		47			1,633			2,540

Note:

(i)

The Group’s major operation was conducted out of the PRC. Accordingly, the Group prepared its tax rate reconciliation starting with the PRC statutory tax rate during the years ended December 31, 2019, 2020 and 2021.

(ii)

Non-deductible expenses were mainly related to allowance for credit losses, share-based compensation expenses, fair value losses on derivative liabilities and fair value losses on convertible notes.

(iii)

Outside basis difference is related to undistributed earnings in the Group’s VIE and its subsidiaries in the PRC (Note 23(e)(ii)).

(iv)

According to a policy promulgated by the State Tax Bureau of the PRC and effective from 2008 onwards, companies engaged in research and development activities are entitled to claim ranging from 150% to 175% of the research and development expenses so incurred in a period as tax deductible expenses in determining its tax assessable profits for that period. Certain PRC subsidiaries of the Company have applied such additional deduction for the year ended December 31, 2021.

- Definition

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

+ References

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

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

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

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

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

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

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

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

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

+ Details

Basic and diluted net loss per share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Basic and diluted net loss per share

24	Basic and diluted net loss per share

Basic and diluted net loss per share for the years ended December 31, 2019, 2020 and 2021 are calculated as follows:

	For the years ended December 31,
	2019			2020			2021
Numerator:
Net loss attributable to ordinary shareholders of the Company		(9,603	)		(12,618	)		(13,631	)
Numerator for basic and diluted net loss per share		(9,603	)		(12,618	)		(13,631	)
Denominator:
Denominator for basic and diluted net loss per share - weighted average shares outstanding		28,583,548			39,368,436			48,187,235
Basic net loss per share		(0.34	)		(0.32	)		(0.28	)
Diluted net loss per share		(0.34	)		(0.32	)		(0.28	)

The share options, RSUs, warrants and convertible notes were excluded from the computation of diluted net loss per ordinary share for the years presented because including them would have had an anti-dilutive effect.

The following ordinary share equivalents were excluded from the computation of diluted net loss per ordinary share for the years presented because including them would have had an anti-dilutive effect:

	As of December 31,
	2019		2020		2021
Share options, RSUs and warrants – weighted average (thousands)		505		2,998		2,613
Convertible notes – weighted average (thousands)		6,909	-		-

Segments

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segments

During the periods presented in these consolidated financial statements, the Group reports two operating segments: 1) Marketing Solutions, and 2) Enterprise Solutions. The Enterprise Solutions segment primarily reflects the results of the Group’s SaaS products and services the Group named its pre-existing online marketing service business as Marketing Solution business.

The table below provides a summary of the Group’s breakdown of net revenues by type of goods or services and operating segment results for the years ended December 31, 2019, 2020 and 2021. The Group does not allocate any operating costs or assets to its business segments as the Group’s CODM does not use this information to measure the performance of the operating segments. There was no significant transaction between reportable segments for the years ended December 31, 2019, 2020 and 2021.

	For the years ended December 31,
	2019			2020			2021
Net revenues:
Marketing Solutions
- Sales agent		6,563			5,834			4,195
- Cost-plus		17,146			26,738			26,062
- Specified actions		165,263			193,280			212,353
		188,972			225,852			242,610
Enterprise Solutions
- SaaS products and services		10,436			28,893			65,092
		199,408			254,745			307,702
Cost of revenues:
Marketing Solutions
- Specified actions		(139,976	)		(172,917	)		(194,912	)
Enterprise Solutions
- SaaS products and services		(2,727	)		(8,565	)		(23,637	)
		(142,703	)		(181,482	)		(218,549	)
Gross profit:
Marketing Solutions
- Sales agent		6,563			5,834			4,195
- Cost-plus		17,146			26,738			26,062
- Specified actions		25,287			20,363			17,441
		48,996			52,935			47,698
Enterprise Solutions
- SaaS products and services		7,709			20,328			41,455
		56,705			73,263			89,153

The Group currently does not allocate assets to all of its segments, as its CODM does not use such information to allocate resources or evaluate the performance of the operating segments.

26	Segments (Continued)

Revenue generated for the respective countries are summarized as follows:

	For the years ended December 31,
	2019		2020		2021
PRC		175,970		214,444		254,874
Hong Kong		22,567		40,197		52,599
Others		871		104		229
		199,408		254,745		307,702

The Group’s long-lived assets are located in the following countries:

	As of December 31,
	2020		2021
PRC		671		1,230
Hong Kong		442		701
		1,113		1,931

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Commitments and contingencies

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments and contingencies

27	Commitments and contingencies

(a)	Capital commitments

Capital expenditures contracted for are analyzed as follows:

	As of December 31,
	2020		2021
Contracted but not provided for
Leasehold improvements		151	-

(b)	Litigation

In the ordinary course of the business, the Group is subject to periodic legal or administrative proceedings. As of December 31, 2021 the Group is not a party to any legal or administrative proceedings which will have a material adverse effect on the Group’s business, financial position, results of operations and cash flows.

Subsequent event

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent events

28	Subsequent event

(a)	Acquisition of non-controlling interests of Changyi

As of December 31, 2021, Changyi was a partially-owned subsidiary of the Company. In March 2022, the Company has entered into an agreement with other shareholders of Changyi to acquire all their equity interests in Changyi at (i) cash consideration of RMB6,000,000, and (ii) share consideration of 3,091,327 ADSs of the Company. Upon completion of this transaction, Changyi will become a wholly-owned subsidiary of the Company. The transaction will not change the Company’s control over Changyi and will be accounted for as a transaction with non-controlling interests.

Restricted net assets

12 Months Ended

Dec. 31, 2021

Other Restricted Assets [Abstract]

Restricted net assets

29	Restricted net assets

Relevant PRC laws and regulations permit payments of dividends by the Group’s subsidiaries, VIE and its subsidiaries incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. In addition, the Group’s subsidiaries and the VIE in the PRC are required to annually appropriate 10% of their net after-tax income to the statutory general reserve fund prior to payment of any dividends, unless such reserve funds have reached 50% of their respective registered capital. As a result of these and other restrictions under PRC laws and regulations, the Group’s subsidiaries, VIE and its subsidiaries incorporated in the PRC are restricted in their ability to transfer a portion of their net assets to the Company either in the form of dividends, loans or advances. There are no significant differences between U.S. GAAP and PRC accounting standards in connection with the reported net assets of the legally owned subsidiaries in the PRC and the VIE. Even though the Company currently does not require any such dividends, loans or advances from the PRC entities for working capital and other funding purposes, the Company may in the future require additional cash resources from them due to changes in business conditions, to fund future acquisitions and development, or merely to declare and pay dividends or distributions to our shareholders. Except for the above, there is no other restriction on use of proceeds generated by the Group’s subsidiaries, VIE and its subsidiaries to satisfy any obligations of the Company.

Furthermore, cash transfers from the Company’s PRC subsidiaries to their parent companies outside of China are subject to PRC government control of currency conversion. Shortages in the availability of foreign currency at the time of requesting such conversion may temporarily delay the ability of the PRC subsidiaries and consolidated affiliated entities to remit sufficient foreign currency to pay dividends or other payments to the Company, or otherwise satisfy their foreign currency denominated obligations.

As of December 31, 2020 and 2021, the total restricted net assets of the Company’s subsidiaries and OptAim VIE incorporated in the PRC and subjected to restriction amounted to approximately US$68,233 and US$69,749, respectively. Except for the above there is no other restriction on the use of proceeds generated by the Company’s subsidiaries, VIE and VIE’s subsidiaries to satisfy any obligations of the Company.

ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY

Rules 12-04(a) and 4-08(e)(3) of Regulation S-X require condensed financial information as to the financial position, cash flows and results of operations of a parent company as of and for the same periods for which the audited consolidated financial statements have been presented when the restricted net assets of the consolidated subsidiaries together exceed 25% of consolidated net assets as of the end of the most recently completed fiscal year.

The following condensed financial statements of the Company have been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the Company used the equity method to account for its investment in its subsidiaries, VIE and VIE’s subsidiaries. Such investment is presented on the separate condensed balance sheets of the Company as “Investment in subsidiaries, VIE and VIE’s subsidiaries” and “Accumulated losses in excess of investment in subsidiaries, VIE and VIE’s subsidiaries.” The Company, its subsidiaries, VIE and VIE’s subsidiaries were included in the consolidated financial statements whereby the inter-company balances and transactions were eliminated upon consolidation. The Company’s share of income from its subsidiaries, VIE and VIE’s subsidiaries is reported as share of income from subsidiaries, VIE and VIE’s subsidiaries in the condensed financial statements.

The Company is a Cayman Islands company and, therefore, is not subjected to income taxes for all years presented. The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted.

As of December 31, 2020 and 2021, there were no material commitments or contingencies, significant provisions for long-term obligations or guarantees of the Company, except for those which have been separately disclosed in the consolidated financial statements, if any.

Inter-company charges, share-based compensation and other miscellaneous expenses for the years ended December 31, 2019, 2020 and 2021, which were previously recognized at the parent company level, had been pushed down to the WFOE/VIE level given the majority of services were provided to the WFOE/VIE entities.

The condensed financial statements of the parent company should be read in conjunction with the Company’s consolidated financial statements and the accompanying notes thereto. For purposes of these condensed financial statements, the Company’s wholly owned and majority owned subsidiaries are recorded based upon its proportionate share of the subsidiaries’ net assets (similar to presenting them on the equity method).

iCLICK INTERACTIVE ASIA GROUP LIMITED

CONDENSED BALANCE SHEETS

AS OF DECEMBER 31, 2020 AND 2021

(US$’000, except share data and per share data, or otherwise noted)

	As of December 31,
	2020			2021
Assets
Current assets
Cash and cash equivalents		402			789
Time deposits		46		-
Restricted cash		5,266			3,657
Other current assets		1,095			549
Total current assets		6,809			4,995
Non-current assets
Deferred tax assets		194			254
Investments in subsidiaries, VIE and VIE’s subsidiaries *		278,874			285,824
Other long-term investments		1,522			510
Investment in an equity investee		460			354
Total non-current assets		281,050			286,942
Total assets		287,859			291,937
Liabilities and shareholders’ equity
Current liability
Accrued liabilities and other current liabilities		7,627			7,126
Total current liability		7,627			7,126
Non-current liability
Other liabilities		8,130			459
Total non-current liability		8,130			459
Total liabilities		15,757			7,585
Commitments and contingencies	-			-
Shareholders’ equity
Ordinary shares		46			48
Treasury shares		(10,341	)		(20,908	)
Other shareholders’ equity		282,397			305,212
Total shareholders’ equity		272,102			284,352
Total liabilities and shareholders’ equity		287,859			291,937

CONDENSED STATEMENTS OF COMPREHENSIVE LOSS

FOR THE YEARS ENDED DECEMBER 31, 2019, 2020 AND 2021

(US$’000, except share data and per share data, or otherwise noted)

	For the years ended December 31,
	2019			2020			2021
Operating expenses
General and administrative expenses		(12,064	)		(13,598	)		(17,574	)
Total operating expenses		(12,064	)		(13,598	)		(17,574	)

Operating loss		(12,064	)		(13,598	)		(17,574	)
Other gains/(losses), net	285				(409	)		(242	)
Fair value losses on derivative liabilities		-			(11,466	)		-
Fair value gains/(losses) on convertible notes		133			(4,433	)		-
Share of profits from subsidiaries, VIE and VIE’ subsidiaries		2,519			17,477			4,406
Loss before share of losses from an equity investee and income tax expense		(9,127	)		(12,429	)		(13,410	)
Share of losses from an equity investee		(408	)		(111	)		(107	)
Income tax expense		(68	)		(78	)		(114	)
Net loss attributable to iClick Interactive Asia Group Limited’s ordinary shareholders		(9,603	)		(12,618	)		(13,631	)

Net loss attributable to iClick Interactive Asia Group Limited		(9,603	)		(12,618	)		(13,631	)
Other comprehensive (loss)/income:
Foreign currency translation adjustment, net of tax		(1,612	)		5,001			3,340
Comprehensive loss attributable to iClick Interactive Asia Group Limited		(11,215	)		(7,617	)		(10,291	)

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2019, 2020 AND 2021

(US$’000, except share data and per share data, or otherwise noted)

	For the years ended December 31,
	2019			2020			2021
Cash flows from operating activities
Net cash used in operating activities*		(4,252	)		(3,461	)		(3,217	)

Cash flows from investing activities
Purchase of other long-term investments		(1,000	)		(19	)		-
Investment in an equity investee		(566	)		(412	)		-
(Purchase)/redemption of time deposits		(301	)		255			46
Capital contribution to subsidiaries*		(19,129	)		(77,655	)		(53	)
Refund from subsidiaries of capital contribution *		33,127		-			-
Acquisition of subsidiaries	-				(959	)		(4,982	)
Net cash provided by/(used in) investing activities*		12,131			(78,790	)		(4,989	)

Cash flows from financing activities
Proceeds from issuance of shares upon private placements and follow on offering		-			71,917			-
Proceeds from exercise of share options		315			1,305			661
Proceeds from issuance of convertible notes, net of transaction expenses		28,742			19,184			-
Redemption of convertible notes		(11,265	)		(15,196	)		-
Repurchase of ordinary shares		(4,414	)		(5,677	)		(10,687	)
Purchase of interests in subsidiaries from non-controlling interests		-			(7,003	)		-
Net proceeds from issuance of ordinary shares upon subscription from Baozun Inc.		-			-			17,010
Net cash provided by financing activities		13,378			64,530			6,984
Net increase/(decrease) in cash and cash equivalents and restricted cash		21,257			(17,721	)		(1,222	)

* Net cash used in operating activities and net cash provided by/used in investing activities for the years ended December 31, 2019 and 2020 have been revised to adjust for amounts by US$13,998 and US$77,655, respectively, to revise "capital contribution to subsidiaries" and "refund from subsidiaries of capital contribution" to investing activities from operating activities as presented in previously issued consolidated financial statements included in 2019 and 2020 Form 20-F. In the opinion of management, the adjustment is immaterial. The impact of the revisions is eliminated in consolidation. There is no impact on the previously reported consolidated financial position, results of operations or cash.

Principal accounting policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of presentation

(a)	Basis of presentation

Use of estimates

(b)	Use of estimates

Consolidation

(c)	Consolidation

Foreign currency translation

(d)	Foreign currency translation

2	Principal accounting policies (Continued)

(d)	Foreign currency translation (Continued)

Fair value of financial instruments

(e)	Fair value of financial instruments

Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

(i)

Fair value measurement on a recurring basis

2	Principal accounting policies (Continued)

(e)	Fair value of financial instruments (Continued)

(i)

Fair value measurement on a recurring basis (Continued)

(ii)

Fair value measurement on a non-recurring basis

Cash, cash equivalents and restricted cash

(f)	Cash, cash equivalents and restricted cash

Time deposits

(g)	Time deposits

Accounts receivable, net

(h)	Accounts receivable, net

Rebates receivable

(i)	Rebates receivable

Current expected credit losses upon adoption of ASC 326

(j)	Current expected credit losses upon adoption of ASC 326

2	Principal accounting policies (Continued)

(j)	Current expected credit losses upon adoption of ASC 326 (Continued)

The following table presents the movement in the allowance for credit losses for the years ended December 31, 2020 and 2021.

	Accounts receivable						Loans and interest receivable
	For the years ended December 31,						For the years ended December 31,
	2020			2021			2020	2021
Balance at the beginning of year prior to ASC 326		3,469		-			-	-
Adoption of ASC 326		3,972		-			-	-
Balance at the beginning of year		7,441			11,749		-	-
Provision for the year		6,587			12,424		-	289
Accounts receivable written off		(2,621	)		(1,669	)	-	-
Exchange differences		342			282		-	-
Balance at the end of year		11,749			22,786		-	289

Short-term investments

(k)	Short-term investments

Short-term investments represent the Group’s investments in listed equity securities, fund investments, wealth management products, pledged deposits and a convertible note.

(i)

Fund investments

(ii)

Listed equity securities

2	Principal accounting policies (Continued)

(k)	Short-term investments (Continued)

(iii)

Wealth management products

(iv)

Pledged deposits

(v)

Debt investment

Investments in equity investee

(l)	Investment in an equity investee

Other long-term investments

(m)	Other long-term investments

The Group’s other long-term investments as of December 31, 2020 and 2021 consist of equity securities without readily determinable fair value.

Property and equipment, net

(n)	Property and equipment, net

	Leasehold improvements	Over the shorter of lease term or 2 – 5 years
	Furniture and fixtures	2 – 5 years
	Office equipment	3 – 5 years
	Motor Vehicles	3 – 5 years

Acquisitions

(o)	Acquisitions

(i)

Business combinations

(ii)

Assets acquisition

Intangible assets, net

(p)	Intangible assets, net

	Computer software and systems	2 – 5 years
	Developed technologies	5 years
	Customer relationship	4 – 5 years
	Brand name	4 years
	Contract backlog	3 years
	Advertising contract	30 years

Impairment of goodwill and Impairment of long-lived assets and intangible assets

(q)	Impairment of goodwill

(q)	Impairment of goodwill (Continued)

(r)	Impairment of other long-lived assets and intangible assets

Lease accounting

(s)	Lease accounting

(s)	Lease accounting (Continued)

Deferred revenue

(t)	Deferred revenue

Derivative financial instrument

(u)	Derivative financial instrument

Convertible notes

(v)	Convertible notes

Convertible notes are classified as current liabilities if they are convertible or redeemable on demand or if their due date is or will be within one year from the balance sheet date.

Treasury shares

(w)	Treasury shares

Revenue recognition and cost of revenues

(x)	Revenue recognition and cost of revenues

The following table presents our revenue recognized from contracts with customers disaggregated by the four types of pricing models:

	For the years ended December 31,
	2019		2020		2021
Recognized over time
- Sales agent		6,563		5,834		4,195
- Cost-plus		17,146		26,738		26,062
- SaaS products and services		8,687		28,545		57,756
		32,396		61,117		88,013

Recognized at point in time
- Specified actions		165,263		193,280		212,353
- SaaS products and services		1,749		348		7,336
		167,012		193,628		219,689
Total		199,408		254,745		307,702

Sales agent

Cost-plus

principal in these arrangements and reports revenue earned and costs incurred related to these transactions on a net basis.

2	Principal accounting policies (Continued)

(x)	Revenue recognition and cost of revenues (Continued)

Cost-plus (Continued)

Specified actions

2	Principal accounting policies (Continued)

(x)	Revenue recognition and cost of revenues (Continued)

Specified actions (Continued)

SaaS products and services

2	Principal accounting policies (Continued)

(x)	Revenue recognition and cost of revenues (Continued)

Contract balances

Revenue recognized in the current period from performance obligations related to prior periods was not material.

Practical Expedients

The Group has used the following practical expedients as allowed under ASC 606:

(i)

(ii)

(iii)

The Group generally expenses sales commissions when incurred because the amortization period would be one year or less. These costs are recorded within sales and marketing expenses.

Prepaid media costs

(y)	Prepaid media costs

Research and development expenses

(z)	Research and development expenses

Sales and marketing expenses

(aa)	Sales and marketing expenses

General and administrative expenses

(ab)	General and administrative expenses

General and administrative expenses consist primarily of (i) salary and welfare for general and administrative personnel, (ii) professional service fees, and (iii) allowance for credit losses.

Employee social security and welfare benefits

(ac)	Employee social security and welfare benefits

Non-controlling interests

(ad)	Non-controlling interests

Income taxes

(ae)	Income taxes

Uncertain tax positions

Share-based compensation

(af)	Share-based compensation

Option and RSUs granted to employees

Option modification

Option, RSUs and warrants granted to non-employees

Government subsidies

(ag)	Government subsidies

Statutory reserves

(ah)	Statutory reserves

There are no legal requirements in the PRC to fund these reserves by transfer of cash to restricted accounts, and the Group was not done so.

Related parties

(ai)	Related parties

Dividends

(aj)

Dividends

Loss per share

(ak)	Loss per share

Comprehensive income/loss

(al)	Comprehensive income/loss

Segment reporting

(am)	Segment reporting

Recently issued accounting pronouncements

(an)	Recently issued accounting pronouncements

2	Principal accounting policies (Continued)

(an)	Recently issued accounting pronouncements (Continued)

Organization and principal activities (Tables)

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Summary of Subsidiaries of Company and Consolidated Variable Interest Entities


Name	Relationship	Effective interest held through equity ownership/ contractual arrangements (Note (i))	Date of incorporation/ establishment	Place of incorporation/ establishment	Principal activities

Tetris Media Limited	Subsidiary	100%	July 2007	Hong Kong	Investment holding
iClick Interactive Asia Limited	Subsidiary	100%	December 2008	Hong Kong	Online advertising, SaaS products and services
China Search (Asia) Limited	Subsidiary	100%	September 2010	Hong Kong	Online advertising
iClick Interactive (Singapore) Pte. Ltd.	Subsidiary	100%	January 2011	Singapore	Online advertising
iClick Data Technology (Beijing) Limited (“Beijing WFOE”)	Subsidiary	100%	January 2011	The PRC	Online advertising, SaaS products and services
Search Asia Technology (Shenzhen) Co., Ltd.	Subsidiary	100%	January 2011	The PRC	Online advertising
Performance Media Group Limited	Subsidiary	100%	January 2013	Hong Kong	Online advertising
Addoil Broadcasts Limited (“Addoil”)	Subsidiary	100%	January 2013	Hong Kong	Developing and operating mobile application
CMRS Digital Solutions Limited	Subsidiary	100%	April 2008	Hong Kong	Online advertising, SaaS products and services
Beyond Digital Solutions Limited	Subsidiary	100%	April 2010	Hong Kong	Online advertising, SaaS products and services
CruiSo Digital Solutions Limited	Subsidiary	100%	May 2011	Hong Kong	Online advertising, SaaS products and services
Tetris Information Technology (Shanghai) Co., Ltd.	Subsidiary	100%	April 2008	The PRC	Online advertising, SaaS products and services
OptAim (Beijing) Information Technology Co., Ltd. (“OptAim WFOE”)	Subsidiary	100%	November 2014	The PRC	Online advertising, SaaS products and services

Name	Relationship	Effective interest held through equity ownership/ contractual arrangements (Note (i))	Date of incorporation/ establishment	Place of incorporation/ establishment	Principal activities

Anhui Zhiyunzhong Information Technology Co., Ltd. (“OptAim Anhui”)	Subsidiary	100%	November 2017	The PRC	Online advertising, SaaS products and services
Tetris (Shanghai) Data Technology Co., Ltd.	Subsidiary	100%	October 2020	The PRC	Online advertising, SaaS products and services
Beijing OptAim Network Technology Co., Ltd. (“Beijing OptAim”)	VIE	100%	September 2012	The PRC	Online advertising
Zhiyunzhong (Shanghai) Technology Co., Ltd. (“Shanghai OptAim”)	VIE’s subsidiary	100%	September 2014	The PRC	Online advertising
Shanghai Myhayo Technology Co., Ltd. (“Myhayo”) (Notes (ii), (iii))	VIE’s subsidiary	36.8%	May 2017	The PRC	Mobile content aggregator and online advertising
Anhui Myhayo Technology Co., Ltd. (“Anhui Myhayo”) (Notes (ii), (iii))	VIE’s subsidiary	36.8%	September 2018	The PRC	Mobile content aggregator and online advertising
Changyi (Shanghai) Information Technology Ltd. (“Changyi”) (Note (iv))	Subsidiary	59.84%	January 2014	The PRC	SaaS products and services
Xi'an Changzhan Information Technology Ltd. (“Xian Changyi”)	Subsidiary	59.84%	August 2019	The PRC	SaaS products and services
Optimal Power Limited (“Optimal”) (Note (v))	Subsidiary	100%	September 2019	BVI	Investment holding
Full Lucky International Limited (“Full Lucky”)	Subsidiary	100%	January 2019	Hong Kong	Online advertising, SaaS products and services

1	Organization and principal activities (Continued)

(a)	Organization and nature of operation (Continued)

Note:

(i)

(ii)

(iii)

(iv)

In May 2019, the Company injected a total cash of RMB15 million (equivalent to US$2,217) to Changyi as paid-up capital, upon which the Company's equity interest in Changyi increased to 41.46%.

These transactions did not change the Company’s control over Changyi and were accounted for as transactions with non-controlling interests.

(v)

Principal accounting policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Movement in Allowance for Credit Losses

The following table presents the movement in the allowance for credit losses for the years ended December 31, 2020 and 2021.

	Accounts receivable						Loans and interest receivable
	For the years ended December 31,						For the years ended December 31,
	2020			2021			2020	2021
Balance at the beginning of year prior to ASC 326		3,469		-			-	-
Adoption of ASC 326		3,972		-			-	-
Balance at the beginning of year		7,441			11,749		-	-
Provision for the year		6,587			12,424		-	289
Accounts receivable written off		(2,621	)		(1,669	)	-	-
Exchange differences		342			282		-	-
Balance at the end of year		11,749			22,786		-	289

Schedule of estimated useful lives of property and equipment

The estimated useful lives are as follows:

	Leasehold improvements	Over the shorter of lease term or 2 – 5 years
	Furniture and fixtures	2 – 5 years
	Office equipment	3 – 5 years
	Motor Vehicles	3 – 5 years

Schedule of estimated useful lives of finite lived intangible assets

	Computer software and systems	2 – 5 years
	Developed technologies	5 years
	Customer relationship	4 – 5 years
	Brand name	4 years
	Contract backlog	3 years
	Advertising contract	30 years

Schedule of revenue recognized from contracts with customers disaggregated by the three types of pricing models

The following table presents our revenue recognized from contracts with customers disaggregated by the four types of pricing models:

	For the years ended December 31,
	2019		2020		2021
Recognized over time
- Sales agent		6,563		5,834		4,195
- Cost-plus		17,146		26,738		26,062
- SaaS products and services		8,687		28,545		57,756
		32,396		61,117		88,013

Recognized at point in time
- Specified actions		165,263		193,280		212,353
- SaaS products and services		1,749		348		7,336
		167,012		193,628		219,689
Total		199,408		254,745		307,702

Certain risks and concentration (Tables)

12 Months Ended

Dec. 31, 2021

Risks And Uncertainties [Abstract]

Schedule of Financial Data for VIEs on Aggregated Basis

The following table sets forth the financial data for the VIE and VIE’s subsidiaries on an aggregated basis.

	As of December 31,
	2020		2021
Assets
Cash and cash equivalents		2,113		2,681
Accounts receivable, net		1,720		3,586
Prepaid media costs		1,587		1,151
Amounts due from subsidiaries of the Group		6,643		5,879
Other current assets		1,012		1,266
Property and equipment, net		82		65
Intangible assets		336		140
Right-of-use assets		484		384
Other long-term investment	-			1,233
Other non-current assets		12	-
Total assets		13,989		16,385

Liabilities
Accounts payable		371		2,262
Deferred revenue		644		88
Lease liabilities		484		384
Bank borrowing		457		1,889
Income tax payable		483		575
Amounts due to subsidiaries of the Group		1,878		2,120
Accrued liabilities and other current liabilities		1,519		1,444
Deferred tax liabilities		146		99
Total liabilities		5,982		8,861

	For the years ended December 31,
	2019			2020			2021

Net revenues
From subsidiaries of the Group (Note)		1,645			4,761			1,028
From third parties		19,025			17,341			22,837
		20,670			22,102			23,865
Net loss (Note)		(451	)		(1,755	)		(900	)

	For the years ended December 31,
	2019			2020			2021
Net cash (used in)/provided by operating activities
From subsidiaries of the Group		(1,500	)		2,141			772
From third parties		1,358			(2,110	)		(2,453	)
		(142	)		31			(1,681	)

Net cash used in investing activities		(69	)		(29	)		(14	)

Net cash provided by financing activities
Receipts of advances Group companies	588			-				1,588
Repayments for advances from Group companies		(588	)	-				(554	)
Other financing activities	-			457				1,161
	-			457				2,195

Note:

Services from VIE and VIE’s subsidiaries to other group companies

Services from other group companies to VIE and VIE’s subsidiaries

As of December 31, 2019, 2020, and 2021, there were no balances for management fees charged to VIE and VIE’s subsidiaries.

Schedule of Estimated Fair Values of Financial Assets and Liabilities

	Fair value measurements using
	Quoted prices in active market for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)			Total fair value
As of December 31, 2020
Short-term investments		2,342		10,281	-				12,623
Contingent consideration payable	-		-			(7,755	)		(7,755	)
		2,342		10,281		(7,755	)		4,868

As of December 31, 2021
Short-term investments	-			1,574	-				1,574
Debt investment	-		-			2,550			2,550
Other long-term investments	-		-			12,114			12,114
Contingent consideration payable	-		-			(4,507	)		(4,507	)
	-			1,574		10,157			11,731

Summary of Changes in Level 3 Financial Liabilities for Convertible Notes and Derivative Liability

The following table presents the changes in Level 3 financial liabilities for the years ended December 31, 2020 and 2021.

	Convertible notes at fair value				Derivative liabilities				Contingent consideration payable
	For the years ended December 31,				For the years ended December 31,				For the years ended December 31,
	2020			2021	2020			2021	2020		2021
Balance at the beginning of year		49,008		-	-			-	-			7,755
Fair value changes		4,433		-		11,466		-		81		418
Business combination (Note 4(d))	-			-	-			-		7,674	-
New issuance of convertible notes		19,184		-	-			-	-		-
Issuance of convertible notes upon exercise of call option		11,466		-		(11,466	)	-	-		-
Conversion of convertible notes		(68,895	)	-	-			-	-		-
Redemption of convertible notes		(15,196	)	-	-			-	-		-
Settlement of contingent consideration	-			-	-			-	-			(3,666	)
Balance at the end of year	-			-	-			-		7,755		4,507

Summary of Changes in Level 3 Financial Assets for Debt Investment-Convertible Note

The following table presents the changes in Level 3 financial assets for the year ended December 31, 2021.

	Debt investment – Convertible note
	For the years ended December 31,
	2020	2021
Balance at the beginning of year	-	-
Acquisition	-		2,550
Balance at the end of year	-		2,550

Summary of Changes In Financial Asset Measured Using Level 3 Input on a Non-recurring Basis

The following table presents the changes in financial asset measured using Level 3 input on a non-recurring basis for the years ended December 31, 2020 and 2021.

	Other long-term investments
	For the years ended December 31,
	2020		2021
Balance at the beginning of year		1,503		8,651
Investments made/transferred from prepayments		7,135		7,417
Fair value changes	-		-
Impairment on investments	-			(4,038	)
Exchange differences		13		84
Balance at the end of year		8,651		12,114

- Definition

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

+ References + Details

- Definition

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

+ References + Details

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Changyi Group

Schedule of fair value of consideration transferred:

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:

Fair value of consideration transferred:

	Cash			6,190

Schedule of preliminary fair value of identifiable assets acquired and liabilities assumed at date of acquisition:

Recognized amounts of identifiable assets acquired and liabilities assumed:

Cash	219
Other current assets	490
Property and equipment	56
Intangible assets	1,830
Current liabilities	(405	)
Deferred tax liabilities	(274	)
Non-controlling interests	(11,815	)
Total identifiable net deficits acquired	(9,899	)
Goodwill (Note 13)	16,089

Schedule of estimated amounts recognized on acquired identifiable intangible asset and its estimated useful life:

The estimated amounts recognized on the acquired identifiable intangible asset and its estimated useful life are shown in the following table:

Intangible assets	Estimated useful life	Gross carrying amount
Developed technologies	5 years		117
Customer relationship	5 years		1,103
Contract backlog	3 years		610
			1,830

Addoil Group

Schedule of fair value of consideration transferred:

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:

Fair value of consideration transferred:

	Cash			1,218

Schedule of preliminary fair value of identifiable assets acquired and liabilities assumed at date of acquisition:

Recognized amounts of identifiable assets acquired and liabilities assumed:

Cash	18
Other current assets	42
Property and equipment	34
Right-of-use asset	34
Current liabilities	(35	)
Total identifiable net assets acquired	93
Goodwill (Note 13)	1,125

Optimal Power Limited

Schedule of preliminary fair value of identifiable assets acquired and liabilities assumed at date of acquisition:

The following table summarizes the estimated fair values of assets acquired and liabilities assumed at the date of acquisition:

Cash	3,001
Intangible asset	53,287
Other liabilities	(3,030	)
Deferred tax liabilities	(13,322	)
Non-controlling interests	(7,987	)
Total identifiable net assets acquired	31,949

CMRS Group Holding Limited

Schedule of fair value of consideration transferred:

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:

Fair value of consideration transferred:

Cash (Note (i))		4,335
Class A ordinary shares of the Company		2,440
Contingent consideration (Note (ii))		7,674
	14,449

Schedule of preliminary fair value of identifiable assets acquired and liabilities assumed at date of acquisition:

Recognized amounts of identifiable assets acquired and liabilities assumed:

Cash	3,651
Restricted cash (Note (iii))	532
Accounts receivable	4,149
Intangible assets (Note (v))	2,194
Other assets	1,792
Deferred tax liabilities	(362	)
Other liabilities	(6,216	)
Total identifiable net assets acquired	5,740
Goodwill (Notes 4(d)(iv), 13)	8,709

Note:

(i)

(ii)

4	Acquisitions (Continued)

(d)	Acquisition of CMRS Group Holding Limited (Continued)

(iii)

The restricted cash includes an escrow amount of US$506 deposited with a bank which has been repaid to the sellers in 2021.

(iv)

The excess of purchase price over tangible assets, identifiable intangible assets acquired and liabilities assumed was recorded as goodwill. Goodwill associated with the acquisition of CMRS Group was attributable to the expected synergy with the existing Enterprise Solutions and Marketing Solutions operations. The acquired goodwill is not deductible for tax purposes. Acquisition-related costs were immaterial and were included in general and administrative expenses for the year ended December 31, 2020.

(v)

Schedule of estimated amounts recognized on acquired identifiable intangible asset and its estimated useful life:

The estimated amounts recognized on the acquired identifiable intangible assets and their estimated useful lives are shown in the following table:

Intangible asset	Estimated useful life	Gross carrying amount
Brand name	4 years		1,162
Customer relationship	4 years		1,032
			2,194

Schedule of unaudited proforma net revenues and net loss

Unaudited pro forma net revenues and net loss of the Company for the years ended December 31, 2019 and 2020 as if the acquisition of CMRS Group had occurred on January 1, 2019 were as follows.

	For the years ended December 31,
	2019			2020
Net revenues		221,603			270,326
Net loss		(10,505	)		(13,346	)

Sky Gem International Limited

Schedule of fair value of consideration transferred:

Fair value of consideration transferred:

	Cash			3,200

Schedule of preliminary fair value of identifiable assets acquired and liabilities assumed at date of acquisition:

Recognized amounts of identifiable assets acquired and liabilities assumed:

Other assets	2,000
Other liabilities	(17	)
Non-controlling interests	(3,072	)
Total identifiable net assets acquired, net of non-controlling interests	(1,089	)
Goodwill (Note 13)	4,289

Parllay

Schedule of fair value of consideration transferred:

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:

Fair value of consideration transferred:

Cash consideration

1,825

Schedule of preliminary fair value of identifiable assets acquired and liabilities assumed at date of acquisition:

Recognized amounts of identifiable assets acquired and liabilities assumed:

Intangible assets	279
Deferred tax liabilities	(70	)
Total identifiable net assets acquired	209
Goodwill (Note 13)	1,616

Schedule of estimated amounts recognized on acquired identifiable intangible asset and its estimated useful life:

The estimated amounts recognized on the acquired identifiable intangible asset and its estimated useful life are shown in the following table:

Intangible asset

Estimated

useful life

Gross

carrying

amount

Developed technology

5 years

279

Cash and cash equivalents and time deposits (Tables)

12 Months Ended

Dec. 31, 2021

Cash And Cash Equivalents [Abstract]

Schedule of Cash on Hand and Cash Held at Bank

Cash and cash equivalents and time deposits as of December 31, 2020 and 2021 primarily consist of the following currencies:

	As of December 31,
	2020				2021
	Amount in thousand		US$ equivalent		Amount in thousand		US$ equivalent
RMB		105,792		16,108		111,651		17,576
HK$		110,094		14,206		63,787		8,231
US$		21,635		21,635		26,077		26,077
European dollars		107		128		297		336
Singapore dollars		138		103		217		159
New Taiwan dollars		2,303		80		3,118		113
Japanese Yen		966		9		3,163		29
Others		67		52		67		50
				52,321				52,571

Equity investment (Tables)

12 Months Ended

Dec. 31, 2021

Equity Method Investments And Joint Ventures [Abstract]

Summary of investment in V-Click

Movements on the Group’s investment in V-Click during the years ended December 31, 2020 and 2021 were as follows:

	For the years ended December 31,
	2020			2021
Balance at the beginning of year		158			460
Capital injection		412			—
Share of losses		(111	)		(107	)
Exchange differences		1			1
Balance at the end of year		460			354

Other long-term investments (Tables)

12 Months Ended

Dec. 31, 2021

Long Term Investments [Abstract]

Summary of Other Long-term Investments

	As of December 31,
	2020		2021
Prepayments for long-term investments		2,924	-

Other long-term investments, gross		8,651		16,152
Less: Impairment	-			(4,038	)
		8,651		12,114

Summary of Movement of Other Long-term Investments and Prepayments for Long-term Investments

Movement of other long-term investments and prepayments for long-term investments for the years ended December 31, 2020 and 2021 is as follows:

	For the years ended December 31,
	2020		2021
Balance at the beginning of year		2,503		11,575
Investments made/transferred from prepayments		7,129		4,502
Prepayments made		1,901	-
Impairment	-			(4,038	)
Exchange differences		42		75
Balance at the end of year		11,575		12,114

Representing:
Prepayments for long-term investments		2,924	-
Other long-term investments		8,651		12,114
		11,575		12,114

Accounts receivable, net (Tables)

12 Months Ended

Dec. 31, 2021

Accounts Receivable Net Current [Abstract]

Summary of Accounts Receivable

	As of December 31,
	2020			2021
Accounts receivable, gross (Note)		154,891			210,047
Less: allowance for credit losses (Note 2(j))		(11,749	)		(22,786	)
Accounts receivable, net		143,142			187,261

Other assets (Tables)

12 Months Ended

Dec. 31, 2021

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Summary of Other Assets

Other assets consist of the following:

	As of December 31,
	2020		2021
Current
Deposits		5,359		2,609
Prepayments		5,177		7,520
Loans and interest receivable, net (Notes 2(j), 10(i))		1,480		12,302
VAT recoverable		1,088		1,275
Others		1,034		1,251
		14,138		24,957
Non-current
Rental deposits		468		302
Prepayment		99		1,361
		567		1,663

Note:

(i)

Property and equipment, net (Tables)

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Summary of Property and Equipment

Property and equipment consist of the following:

	As of December 31,
	2020			2021
Cost:
Office equipment		4,830			5,035
Leasehold improvements		1,842			2,542
Furniture and fixtures		1,094			1,327
Motor vehicles		13			13
Total cost		7,779			8,917
Less: Accumulated depreciation		(6,565	)		(6,918	)
Exchange differences		(101	)		(68	)
Property and equipment, net		1,113			1,931

Summary of Depreciation Expense Recognized

Depreciation expense recognized for the years ended December 31, 2019, 2020 and 2021 are summarized as follows:

	For the years ended December 31,

	2019		2020		2021
Cost of revenues		2		3		7
Research and development		49		80		152
Sales and marketing expenses		21		96		171
General and administrative expenses		262		202		318
Total		334		381		648

Intangible assets, net (Tables)

12 Months Ended

Dec. 31, 2021

Intangible Assets Net Excluding Goodwill [Abstract]

Summary of Intangible assets

Intangible assets consist of the following:

	As of December 31,
	2020			2021
Cost:
Computer software		23,189			23,673
Developed technologies		117			117
Customer relationship		2,135			2,135
Brand name		1,162			1,162
Contract backlog		610			610
Advertising contract		53,287			53,287
Total cost		80,500			80,984
Less: Accumulated amortization		(24,095	)		(27,336	)
Exchange differences		26			65
Intangible assets, net		56,431			53,713

Summary of Amortization Expense Recognized

Amortization expense recognized for the years ended December 31, 2019, 2020 and 2021 are summarized as follows:

	For the years ended December 31,
	2019		2020		2021
Cost of revenues		4,771		4,187		3,070
Research and development		1	-			-
Sales and marketing expenses	-		-			12
General and administrative expenses		2		2		156
		4,774		4,189		3,238

Summary of Estimated Aggregate Amortization Expense

The estimated aggregate amortization expense for each of the next five years as of December 31, 2021 is:

	Amortization expense of intangible assets
2022		3,200
2023		2,552
2024		2,258
2025		1,840
2026 onwards		43,863
		53,713

Goodwill (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination Goodwill [Abstract]

Summary of Movements on Goodwill

Movements on goodwill during the year were as follows:

	Marketing Solutions		Enterprise Solutions		Total
Balance as of January 1, 2020		49,621		16,089		65,710
Goodwill arising from acquisitions during the year (Note 4(d))		3,403		5,306		8,709
Balance as of December 31, 2020		53,024		21,395		74,419
Goodwill arising from acquisitions during the year (Notes 4(e) and (f))	-			5,905		5,905
Exchange differences	-			1,350		1,350
Balance as of December 31, 2021		53,024		28,650		81,674

Lease accounting (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of Maturity of Operating Lease Liabilities

The following table presents the maturity of the Group’s operating lease liabilities as of December 31, 2021.

2022	2,421
2023	1,387
2024	120
Total operating lease payments (undiscounted)	3,928
Less: Imputed interest	(324	)
Total operating lease liabilities (discounted)	3,604

Summary of Lease Cost

	For the years ended December 31,
	2019	2020		2021
Relating to the operating lease liabilities	1,721		2,155		2,862
Relating to short-term leases	887		912		1,518
	2,608		3,067		4,380

Summary of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases is as follows:

	For the years ended December 31,
	2019		2020		2021
Cash payments for amounts included in the measurement of operating lease liabilities		2,449		3,067		4,380
Right-of-use assets obtained in exchange for operating lease liabilities		3,199		2,710		3,163

Deferred revenue (Tables)

12 Months Ended

Dec. 31, 2021

Contract With Customer Asset And Liability [Abstract]

Schedule of deferred revenue

	As of December 31,
	2020		2021
Deferred revenue, current		28,199		22,802

Schedule of changes in contract with customer liability balances

Changes in deferred revenue balance for the years ended December 31, 2020 and 2021 were as follows:

	For the years ended December 31,
	2020			2021
Balance at beginning of year		27,089			28,199
Additions to deferred revenue		203,221			135,292
Recognition of deferred revenue as revenues		(203,599	)		(141,156	)
Exchange differences		1,488			467
Balance at end of year		28,199			22,802

Accrued liabilities and other liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Accrued Liabilities And Other Liabilities [Abstract]

Summary of accrued liabilities and other liabilities

Accrued liabilities and other liabilities consist of the following:

	As of December 31,
	2020		2021
Current
Rebates payable to customers		1,236		733
VAT and other taxes payable		4,440		5,014
Security deposit received from customers		510		418
Accrued employee benefits		8,968		10,548
Accrued professional fees		5,951		5,076
Accrued marketing and hosting expense		2,939		1,326
Consideration payable (Note 4(d))		3,376		4,507
Advance from a former non-controlling interest shareholder (Note)	-			475
Others		1,911		1,638
		29,331		29,735

	As of December 31,
	2020		2021
Non-current
Deferred other income		375		459
Advance from a former non-controlling interest (Note)		4,521	-
		4,896		459

Bank borrowings (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of bank borrowings

	As of December 31,
	2020		2021
1-year revolving loans denominated in RMB at interest rates of 5.22% (2020: 4.50% to 5.22%) per annum		5,584		31,912
Half-year revolving loan denominated in RMB at interest rates ranging from 3.00% to 6.25% (2020: 3.45% to 6.35%) per annum		35,104		26,691
Revolving service trade loan denominated in HK$ at interest rates ranging from 4.35% to 4.43% (2020: 4.03% to 4.43%) per annum		3,999		84
Rollover period revolving loan denominated in US$ at an interest rate 4.59% per annum		1,000	-
3-month revolving loan denominated in RMB at an interest rate of 3.00% (2020: 3.25%) per annum		10,353		9,917
1-year term loans denominated in RMB at interest rates ranging from 3.85% to 4.50% per annum	-			6,926
		56,040		75,530

Convertible notes at fair value (Tables)

12 Months Ended

Dec. 31, 2021

Debt Instrument Fair Value Disclosure [Abstract]

Schedule of issuance of convertible notes

Convertible notes	Issue date	Maturity date	Principal amounts		Coupon rate
			US$		%
2018 Notes	September 12, 2018	September 12, 2023		30,000		0
November 2019 Notes	November 11, 2019	November 11, 2022		20,000		5
December 2019 Notes	December 16, 2019	December 16, 2022		10,000		5
January 2020 Notes	January 23, 2020	September 12, 2023		3,450		0
July 2020 Notes	July 30, 2020	September 12, 2023		13,100		0

Schedule of movement of transactions of convertible notes

The movement of transactions of these convertible notes during the years ended December 31, 2019 and 2020 is shown in the table below.

	2018 Notes			2019 Notes			2020 Notes			Total
Balance as of January 1, 2019		34,837		-			-				34,837
Years ended December 31, 2019
Fair value changes	41				(174	)	-				(133	)
New issuance	-				30,000		-				30,000
Conversion of convertible notes (Note (iii))		(4,431	)	-			-				(4,431	)
Redemption of convertible notes (Note (iv))		(11,265	)	-			-				(11,265	)
Balance as of December 31, 2019		19,182			29,826		-				49,008
Years ended December 31, 2020
Fair value changes		3,644		445			344				4,433
New issuance	-			-				19,184			19,184
Issuance of convertible notes upon exercise of call option (Note (v))	-			-				11,466			11,466
Conversion of convertible notes (Note (iii))		(7,630	)		(30,271	)		(30,994	)		(68,895	)
Redemption of convertible notes (Note (iv))		(15,196	)	-			-				(15,196	)
Balance as of December 31, 2020	-			-			-			-

Schedule of details of conversion of convertible notes

(iii)

Details of the conversion of convertible notes for the year ended December 31, 2020 are as follows.

Convertible notes	Conversion date	Principal amount converted		Number of ADSs converted		Conversion price per ADS US$		Fair value of converted convertible notes as of the conversion date
For the year ended December 31, 2020
2018 Notes	June 30, 2020		1,000		248,050		4.03		1,551
2018 Notes	July 24, 2020		1,000		236,546		4.23		1,752
2018 Notes	August 11, 2020		2,000		536,596		3.73		4,327
November 2019 Notes	February 18, 2020		20,000		5,128,206		3.90		20,282
December 2019 Notes	February 18, 2020		10,000		2,564,102		3.90		9,989
January 2020 Notes	February 3, 2020		3,450		1,088,876		3.17		4,346
July 2020 Notes	July 30, 2020		13,100		3,851,694		3.40		26,648
			50,550		13,654,070				68,895

Schedule of redeemed convertible notes

(iv)

The Company has redeemed the 2018 Notes on the following dates.

Redemption date	Principal amount		Consideration paid for redemption
August 22, 2019		3,000		3,261
November 14, 2019		3,450		4,002
December 12, 2019		3,450		4,002
		9,900		11,265
February 3, 2020		6,900		8,004
March 31, 2020		6,200		7,192
		13,100		15,196

Summary of fair value of the notes determined using monte carlo simulation with key assumptions

Measurement date	Volatility		Risk-free rate
	%		%
2018 Notes
February 1, 2019		44.59		2.55
March 1, 2019		44.99		2.62
August 22, 2019		43.86		1.47
November 14, 2019		44.34		1.61
December 12, 2019		43.86		1.71
December 31, 2019		44.17		1.67
February 3, 2020		42.09		1.37
March 31, 2020		45.38		0.45
June 30, 2020		51.24		0.24
July 24, 2020		49.26		0.23
August 11, 2020		49.75		0.23
January 2020 Notes
February 3, 2020	42.09		1.37
July 2020 Notes
July 30, 2020	49.45		0.19

Summary of convertible notes fair value assumptions bond yield

Measurement date	Volatility		Risk-free rate		Bond yield
	%		%		%
November 2019 Notes
December 31, 2019		42.53		1.61		10.09
February 18, 2020		44.02		1.40		10.67

December 2019 Notes
December 31, 2019		42.63		1.61		10.09
February 18, 2020		43.61		1.40		10.67

Repurchase of shares (Tables)

12 Months Ended

Dec. 31, 2021

Share Repurchase Program [Abstract]

Summary of the shares repurchased

Repurchase program	Maximum value of ordinary shares or ADSs of the Company to repurchase		Effective period
2018 Share Repurchase Program		10,000	Period from November 28, 2018 to November 27, 2019
January 2020 Share Repurchase Program		10,000	Period from December 30, 2019 to December 29, 2020
December 2020 Share Repurchase Program		25,000	Period from December 30, 2020 to December 31, 2021
December 2021 Share Repurchase Program		20,000	Year ending December 31, 2022

Period	Total number of ADSs purchased as part of the publicly announced plan		Average price paid per ADS
2018 Share Repurchase Program
- For the year ended December 31, 2019		1,301,912		3.3857
January 2020 Share Repurchase Program
- For the year ended December 31, 2020		768,079		7.0892
December 2020 Share Repurchase Program
- For the year ended December 31, 2020		27,599	8.3686
- For the year ended December 31, 2021		1,209,920	8.8324

Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of share option activities

The following table summarizes the share option activities for the years ended December 31, 2019, 2020 and 2021:

	Number of share options			Weighted average exercise price		Weighted average grant date fair value		Weighted average remaining contractual life		Aggregate intrinsic value
				US$		US$		years		US$’000
At January 1, 2019		908,409		7.52		N/A			6.27		2,724
Exercised		(135,281	)	1.25		N/A		N/A		N/A
Forfeited		(105,261	)	11.46		N/A		N/A		N/A
At December 31, 2019		667,867			8.16	N/A		5.27			1,807
Vested and expected to vest at December 31, 2019		660,247			4.72		12.08		5.14		780
Exercisable to vest at December 31, 2019		657,142			4.54		12.78		5.64		800
At January 1, 2020		667,867			8.16	N/A			5.27		1,807
Exercised		(235,765	)		3.75	N/A		N/A		N/A
At December 31, 2020		432,102			10.56	N/A			4.28		4,578
Vested and expected to vest at December 31, 2020		430,569			5.10		14.51		5.09		5,215
Exercisable to vest at December 31, 2020		431,245			5.13		14.50		5.09		5,213
At January 1, 2021		432,102			10.56	N/A			4.28		4,578
Exercised		(117,788	)		5.61	N/A		N/A		N/A
At December 31, 2021		314,314			12.41	N/A			3.31		1,601
Vested and expected to vest at December 31, 2021		312,876			4.90		15.25		3.73		1,601
Exercisable to vest at December 31, 2021		314,204			4.95		15.23		3.73		1,601

Summary of RSUs activity

The following table summarizes the activity of the service-based RSUs for the year ended December 31, 2019, 2020 and 2021:

	Number of RSUs			Weighted average grant date fair value
At January 1, 2019		376,272			8.02
Granted (with a vesting period of 1 to 4 years)		279,480			3.79
Vested		(167,833	)		10.25
Forfeited (Note (ii))		(24,373	)		7.56
At December 31, 2019		463,546			5.52
Expected to vest at December 31, 2019		377,507			7.57

At January 1, 2020		463,546			5.52
Granted (with a vesting period of 0 to 4 years)		1,180,295			7.83
Vested		(962,606	)		6.55
Forfeited/expired (Note (ii))		(46,730	)		7.26
At December 31, 2020		634,505			8.11
Expected to vest at December 31, 2020		620,245			8.83

At January 1, 2021		634,505			8.11
Granted (with a vesting period of 0 to 4 years)		716,265			15.73
Vested		(1,049,007	)		11.32
Forfeited/expired (Note (ii))		(74,186	)		12.73
At December 31, 2021		227,577			17.65
Expected to vest at December 31, 2021		209,878			19.07

Note:

(i)

All share-based payments to employees are measured based on their grant-date fair values. Compensation expense is recognized based on the vesting schedule over the requisite service period. Total fair values and intrinsic value of RSUs vested and recognized as expenses for the years ended December 31, 2019, 2020 and 2021 were US$1,331, US$6,142 and US$11,965 respectively.

(ii)

(iii)

Summary of assumptions used in estimation of fair value of warrants granted

The fair value of the warrants granted on December 9, 2019 was estimated by using the binomial option pricing model with the following assumptions:

Volatility	42.1%
Risk-free interest rate		1.6	%
Expected dividend yield		0.0	%
Expected warrant life	3.0 years
Expected forfeiture rate	0.0%

Summary of compensation costs recognized

Total share-based compensation costs recognized for the years ended December 31, 2019, 2020 and 2021 are as follows:

	For the years ended December 31,
	2019		2020		2021
Cost of revenues		35		5		12
Research and development		661		92		221
Sales and marketing		655		2,707		9,991
General and administrative		4,062		3,445		3,275
Total		5,413		6,249		13,499

Other gains, net (Tables)

12 Months Ended

Dec. 31, 2021

Other Income And Expenses [Abstract]

Tabular disclosure of gain related to nonoperating activities, classified as other

	For the years ended December 31,
	2019			2020			2021
Net exchange (loss)/gain		(410	)		(421	)		622
Forfeiture of advances from customers (Note (i))		1,369			1,245			1,654
Government subsidy income (Note (ii))		1,394			3,063			3,281
ADR reimbursement from depositary bank		224			251			410
Fair value gains/(losses) on short-term investments		107			1,404			(316	)
Impairment on long-term investments	-			-				(4,038	)
Fair value change in contingent consideration payable	-				(81	)		418
Others		308			391			172
Total		2,992			5,852			2,203

Note:

(i)

The forfeited advances from customers are recognized as other gains when the contractual obligation of the Company to provide the agreed services no longer existed legally due to passage of time.

(ii)

Income tax (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Disclosure of current and deferred portions of income tax expense

The current and deferred portions of income tax expense included in the consolidated statements of comprehensive loss are as follows:

	For the years ended December 31,
	2019			2020			2021
Current income tax expense		1,130			2,784			3,445
Deferred tax benefits		(1,083	)		(1,151	)		(905	)
Income tax expense		47			1,633			2,540

Disclosure of deferred tax assets and liabilities

	As of December 31,
	2020			2021
Deferred tax assets
Tax losses carried forward (Note (i))		4,365			4,410
Share-based payments		759			931
Temporary difference on deferred income		194			254
Less: Valuation allowance (Note (ii))		(4,365	)		(4,410	)
		953			1,185
Deferred tax liabilities
Acquired intangible assets		(13,585	)		(12,993	)
Outside basis difference (Note (iii))		(542	)		(356	)
Others		(29	)		(29	)
		(14,156	)		(13,378	)

Note: (Continued)

(i)Tax loss carryforwards (Continued)

(ii)Valuation allowance

Disclosure of operating tax loss carry forwards expiring years

	2022			4,212
	2023			432
	2024			871
	2025			5,740
	2026			9,128
	Tax loss with no expiry			1,311
				21,694

Disclosure of movement of valuation allowance

Movement of valuation allowance is as follows:

	For the years ended December 31,
	2019			2020			2021
Beginning balance		6,385			5,923			4,365
Additions		801			1,144			2,768
Reversals (Note)		(1,263	)		(2,702	)		(2,723	)
Ending balance		5,923			4,365			4,410

Note:

(iii)Outside basis difference

The deferred tax liabilities are recorded for the undistributed earnings in the Group’s VIE and its subsidiaries in the PRC of US$2,169 and US$1,422 as of December 31, 2020 and 2021, respectively.

Disclosure of reconciliation between expense of income taxes

Reconciliation between the expense of income taxes computed by applying the statutory tax rates to loss before income taxes and the actual provision for income taxes is as follows:

	For the years ended December 31,
	2019			2020			2021
Tax benefit calculated at statutory tax rates (Note i)		(2,599	)		(3,291	)		(3,488	)
Effect of differences between statutory tax rates and foreign effective tax rates		1,999			4,513			1,746
Non-taxable other income		(235	)		(627	)		(348	)
Non-deductible expenses (Note ii)		1,338			3,202			4,783
Valuation allowance		(462	)		(1,558	)		44
Outside basis difference (Note iii)		(62	)		(400	)		(186	)
Additional deduction of research and development expenses (Note iv)	-				(270	)		(125	)
Others		68			64			114
Income tax expense		47			1,633			2,540

Note:

(i)

(ii)

Non-deductible expenses were mainly related to allowance for credit losses, share-based compensation expenses, fair value losses on derivative liabilities and fair value losses on convertible notes.

(iii)

Outside basis difference is related to undistributed earnings in the Group’s VIE and its subsidiaries in the PRC (Note 23(e)(ii)).

(iv)

Basic and diluted net loss per share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Summary of basic and diluted net loss per share

Basic and diluted net loss per share for the years ended December 31, 2019, 2020 and 2021 are calculated as follows:

	For the years ended December 31,
	2019			2020			2021
Numerator:
Net loss attributable to ordinary shareholders of the Company		(9,603	)		(12,618	)		(13,631	)
Numerator for basic and diluted net loss per share		(9,603	)		(12,618	)		(13,631	)
Denominator:
Denominator for basic and diluted net loss per share - weighted average shares outstanding		28,583,548			39,368,436			48,187,235
Basic net loss per share		(0.34	)		(0.32	)		(0.28	)
Diluted net loss per share		(0.34	)		(0.32	)		(0.28	)

Computation of diluted net loss per ordinary share

	As of December 31,
	2019		2020		2021
Share options, RSUs and warrants – weighted average (thousands)		505		2,998		2,613
Convertible notes – weighted average (thousands)		6,909	-		-

Segments (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Summary of Group's Breakdown of Net Revenues by Type of Good or Service and Operating Segment

	For the years ended December 31,
	2019			2020			2021
Net revenues:
Marketing Solutions
- Sales agent		6,563			5,834			4,195
- Cost-plus		17,146			26,738			26,062
- Specified actions		165,263			193,280			212,353
		188,972			225,852			242,610
Enterprise Solutions
- SaaS products and services		10,436			28,893			65,092
		199,408			254,745			307,702
Cost of revenues:
Marketing Solutions
- Specified actions		(139,976	)		(172,917	)		(194,912	)
Enterprise Solutions
- SaaS products and services		(2,727	)		(8,565	)		(23,637	)
		(142,703	)		(181,482	)		(218,549	)
Gross profit:
Marketing Solutions
- Sales agent		6,563			5,834			4,195
- Cost-plus		17,146			26,738			26,062
- Specified actions		25,287			20,363			17,441
		48,996			52,935			47,698
Enterprise Solutions
- SaaS products and services		7,709			20,328			41,455
		56,705			73,263			89,153

Summary of revenue generated for the respective countries

Revenue generated for the respective countries are summarized as follows:

	For the years ended December 31,
	2019		2020		2021
PRC		175,970		214,444		254,874
Hong Kong		22,567		40,197		52,599
Others		871		104		229
		199,408		254,745		307,702

Summary of long-lived assets

The Group’s long-lived assets are located in the following countries:

	As of December 31,
	2020		2021
PRC		671		1,230
Hong Kong		442		701
		1,113		1,931

Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Schedule of Capital Expenditures Contracted

Capital expenditures contracted for are analyzed as follows:

	As of December 31,
	2020		2021
Contracted but not provided for
Leasehold improvements		151	-

Organization and principal activities - Subsidiaries and Consolidated VIE's (Details)	12 Months Ended
	Dec. 31, 2021
Ownership:
VIE direct or indirect ownership (as a percent)	100.00%
Zhiyunzhong (Shanghai) Technology Co., Ltd. (“Shanghai OptAim”)
Ownership:
VIE direct or indirect ownership (as a percent)	100.00%
Shanghai Myhayo Technology Co., Ltd. (“Myhayo”)
Ownership:
VIE direct or indirect ownership (as a percent)	36.80%
Anhui Myhayo Technology Co., Ltd. (“Anhui Myhayo”)
Ownership:
VIE direct or indirect ownership (as a percent)	36.80%
Tetris Media Limited
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
iClick Interactive Asia Limited
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
China Search (Asia) Limited
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
iClick Data Technology (Beijing) Limited (“Beijing WFOE”)
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
iClick Interactive (Singapore) Pte Ltd
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
CMRS Digital Solutions Limited ("CMRS Digital")
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
Search Asia Technology (Shenzhen) Co Ltd
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
Performance Media Group Limited
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
Beyond Digital Solutions Limited ("Beyond Digital")
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
Addoil Broadcasts Limited (Addoil)
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
CruiSo Digital Solutions Limited ("CruiSo Digtal")
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
Tetris Information Technology
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
OptAim (Beijing) Information Technology Co., Ltd. ("OptAim WFOE")
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
Anhui Zhiyunzhong Information Technology Co., Ltd. ("OptAim Anhui")
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
Tetris (Shanghai) Data Technology Co., Ltd.
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
Changyi (Shanghai) Information Technology Ltd. ("Changyi")
Ownership:
Subsidiary direct or indirect ownership (as a percent)	59.84%
Full Lucky International Limited (“Full Lucky”)
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%
Xi'an Changzhan Information Technology Ltd. ("Xian Changyi")
Ownership:
Subsidiary direct or indirect ownership (as a percent)	59.84%
Optimal Power Limited
Ownership:
Subsidiary direct or indirect ownership (as a percent)	100.00%

Organization and principal activities - Subsidiaries and Consolidated VIE's (Parenthetical) (Details) $ in Thousands, ¥ in Millions	1 Months Ended							12 Months Ended
	Dec. 31, 2020 USD ($) shares	Sep. 30, 2020 USD ($)	Sep. 30, 2020 CNY (¥)	Aug. 31, 2020 USD ($)	Aug. 31, 2019 USD ($)	May 31, 2019 USD ($)	May 31, 2019 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	May 31, 2020	Jan. 31, 2019	Nov. 30, 2018
Ownership:
Contribution from non-controlling interests								$ 73	$ 2,905
Purchase of interests in subsidiaries from non-controlling interest shareholder								7,003
Anhui Myhayo Technology Co., Ltd. (“Anhui Myhayo”)
Ownership:
Equity interest (as a percent)												40.00%
Contribution from non-controlling interests					$ 2,905
Diluted percentage of equity interest after contribution of non-controlling interest					36.80%
Contribution from non-controlling interests									$ 2,905
Shanghai Myhayo Technology Co., Ltd. (“Myhayo”)
Ownership:
Equity interest (as a percent)												40.00%
Contribution from non-controlling interests				$ 73
Diluted percentage of equity interest after contribution of non-controlling interest				36.80%
Contribution from non-controlling interests								$ 73
Changyi (Shanghai) Information Technology Ltd. ("Changyi")
Ownership:
Equity interest (as a percent)	7.22%							7.22%
Equity interest, percentage	59.84%	52.62%	52.62%			41.46%	41.46%	59.84%			34.38%
Total cash as paid-up capital		$ 9,477	¥ 65			$ 2,217	¥ 15
Non-controlling interest transferred to additional paid in capital due to capital injection	$ 1,716
Purchase of interests in subsidiaries from non-controlling interests, fair market value	$ 4,176
Non-controlling interest transferred to additional paid in capital due to purchase of interest in subsidiary								$ 1,658
Changyi (Shanghai) Information Technology Ltd. ("Changyi") \| Ordinary Shares - Class A
Ownership:
Purchase of interests in subsidiaries from non-controlling interests, shares \| shares	313,011
Optimal Power Limited
Ownership:
Equity interest (as a percent)	20.00%							20.00%		80.00%
Equity interest, percentage	100.00%							100.00%
Purchase of interests in subsidiaries from non-controlling interest shareholder	$ 7,003
Increase in additional paid-in capital due to purchase of equity interest								$ 1,137
Reduction in non-controlling interest due to purchase of equity interest								$ 8,140
Shanghai Myhayo Technology Co Ltd \| Maximum
Ownership:
Subsidiary direct or indirect ownership (as a percent)												50.00%
Suzhou Changyi, Xian Changyi, Shanghai Changyu and Anhui Changyi \| Changyi (Shanghai) Information Technology Ltd. ("Changyi")
Ownership:
Equity interest, percentage											100.00%

Organization and principal activities - OptAim (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Consolidated VIE and VIE's subsidiary
Total assets	$ 507,734	$ 470,115
Total Liabilities	$ 216,145	191,027
VIE direct or indirect ownership (as a percent)	100.00%
OptAim VIE
Consolidated VIE and VIE's subsidiary
Total assets	$ 10,506	7,346
Total Liabilities	6,741	4,104
Registered capital and statutory reserve	$ 2,081	$ 2,081
OptAim VIE \| Mr Jian Tang
Consolidated VIE and VIE's subsidiary
VIE direct or indirect ownership (as a percent)	30.00%

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

- Definition

Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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+ Details

Organization and principal activities - Share Offerings (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	Sep. 08, 2020 USD ($) $ / shares shares	Jun. 22, 2020 USD ($) shares	Dec. 31, 2020 USD ($) shares
Initial Public Offering
Net proceeds from issuance of ordinary shares upon share offerings \| $			$ 71,917
Ordinary shares
Initial Public Offering
Issuance of ordinary shares upon share offerings (Note 1(c)), shares			5,546,007
Ordinary Shares - Class A
Initial Public Offering
Shares issued and sold (in shares)	3,438,607
Ordinary Shares - Class A \| Ordinary shares
Initial Public Offering
Issuance of ordinary shares upon share offerings (Note 1(c)), shares		2,107,400
Follow-on offering costs \| $		$ 3,469
Net proceeds from issuance of ordinary shares upon share offerings \| $		$ 18,531
Ordinary Shares - Class A \| Selling Shareholder
Initial Public Offering
Shares issued and sold (in shares)	811,394
Ordinary Shares - Class A \| Follow-on Offering
Initial Public Offering
Shares issued and sold (in shares)	4,250,001
American Depository Shares
Initial Public Offering
Shares issued and sold (in shares)	6,877,214
Offering price per share \| $ / shares	$ 8.50
American Depository Shares \| Selling Shareholder
Initial Public Offering
Shares issued and sold (in shares)	1,622,787
American Depository Shares \| Follow-on Offering
Initial Public Offering
Follow-on offering costs \| $	$ 5,070
Shares issued and sold (in shares)	8,500,001
Number of common shares for each ADS	0.5
Net proceeds from issuance of ordinary shares upon IPO \| $	$ 53,386

Organization and principal activities - Baozun Inc (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Initial Public Offering
Net proceeds from issuance of ordinary shares upon subscription from Baozun Inc.		$ 17,010
Ordinary shares
Initial Public Offering
Issuance of ordinary shares upon share offerings (Note 1(c)), shares			5,546,007
Ordinary Shares - Class B \| Ordinary shares \| Share Subscription Agreement with Strategic Partner
Initial Public Offering
Issuance of ordinary shares upon share offerings (Note 1(c)), shares		649,349
Offering price per share		$ 26.52
Fair value, per share		$ 28.88
Discount on shares		$ 1,530
Baozun Inc \| Ordinary Shares - Class B \| Ordinary shares \| Share Subscription Agreement with Strategic Partner
Initial Public Offering
Issuance of ordinary shares upon share offerings (Note 1(c)), shares	649,349
Incremental cost on share offering	$ 213
Net proceeds from issuance of ordinary shares upon subscription from Baozun Inc.	$ 17,010
Offering price per share		$ 26.52
Fair value, per share		$ 28.88
Discount on shares		$ 1,530

Principal accounting policies - Fair value of financial instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Impairments of assets	$ 0	$ 0	$ 0

Principal accounting policies - Current expected credit losses upon adoption of ASC 326 (Details) - USD ($) $ in Thousands	Jan. 01, 2020	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Credit loss provision for accounts receivable and loans and interest receivable		$ 23,075	$ 11,749
ASU No. 2016-13
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cumulative effect of adoption of new accounting standard	$ 3,972

Principal accounting policies - Schedule of Movement in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses on accounts receivable	$ 12,424	$ 6,587	$ 1,995
Accounts Receivable
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	11,749	3,469
Allowance for credit losses on accounts receivable	12,424	6,587
Accounts receivable written off	(1,669)	(2,621)
Exchange differences	282	342
Ending balance	22,786	11,749	3,469
Loans and Interest Receivable
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for credit losses on accounts receivable	289
Ending balance	289
Cumulative Effect, Period of Adoption, Adjustment \| Accounts Receivable \| ASU No. 2016-13
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance		3,972
Ending balance			3,972
Cumulative Effect, Period of Adoption, Adjusted Balance \| Accounts Receivable
Financing Receivable Allowance For Credit Losses [Line Items]
Beginning balance	$ 11,749	7,441
Ending balance		$ 11,749	$ 7,441

Principal accounting policies - Short-term investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Short-term investments	$ 7,771,000	$ 23,720,000
Debt investment	2,550,000		$ 49,008,000	$ 34,837,000
Private Company
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Debt investment	2,550,000	0
Fund Investments
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Short-term investments	3,647,000	11,097,000	0
Interest income from short-term investment			0
Fund Investments \| Other Gains, Net
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Interest income from short-term investment	452,000	187,000
Listed Equity Securities
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Short-term investments	0	2,342,000
Listed Equity Securities \| Other Gains, Net
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Interest income from short-term investment	127,000	1,157,000	0
Wealth Management Products
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Short-term investments	1,574,000	700,000
Wealth Management Products \| Other Gains, Net
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Interest income from short-term investment	9,000	52,000	107,000
Pledged Deposits
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Short-term investments	0	$ 9,581,000
Fixed interest rate of investment		0.20%
Pledged Deposits \| Other Gains, Net
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Interest income from short-term investment	$ 0	$ 8,000	$ 0

Principal accounting policies - Investments in an equity investee (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Impairment loss on equity method investments	$ 0	$ 0	$ 0

Principal accounting policies - Other long-term investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Impairment losses	$ 4,038,000	$ 0	$ 0

Principal accounting policies - Property and equipment, net (Details)	12 Months Ended
	Dec. 31, 2021
Leasehold improvements
Property Plant And Equipment [Line Items]
PP&E useful life	Over the shorter of lease term or 2 – 5 years
Furniture and fixtures \| Minimum [Member]
Property Plant And Equipment [Line Items]
PP&E useful life (in years)	2 years
Furniture and fixtures \| Maximum
Property Plant And Equipment [Line Items]
PP&E useful life (in years)	5 years
Office equipment \| Minimum [Member]
Property Plant And Equipment [Line Items]
PP&E useful life (in years)	3 years
Office equipment \| Maximum
Property Plant And Equipment [Line Items]
PP&E useful life (in years)	5 years
Motor Vehicles \| Minimum [Member]
Property Plant And Equipment [Line Items]
PP&E useful life (in years)	3 years
Motor Vehicles \| Maximum
Property Plant And Equipment [Line Items]
PP&E useful life (in years)	5 years

Principal accounting policies - Intangible assets, net (Details)	12 Months Ended
	Dec. 31, 2021
Computer software and systems \| Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Useful life (in years)	2 years
Computer software and systems \| Maximum
Finite Lived Intangible Assets [Line Items]
Useful life (in years)	5 years
Developed technologies
Finite Lived Intangible Assets [Line Items]
Useful life (in years)	5 years
Customer relationship \| Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Useful life (in years)	4 years
Customer relationship \| Maximum
Finite Lived Intangible Assets [Line Items]
Useful life (in years)	5 years
Brand name
Finite Lived Intangible Assets [Line Items]
Useful life (in years)	4 years
Contract backlog
Finite Lived Intangible Assets [Line Items]
Useful life (in years)	3 years
Advertising contract
Finite Lived Intangible Assets [Line Items]
Useful life (in years)	30 years

Principal accounting policies - Impairment of Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Impairment of goodwill	$ 0	$ 0	$ 0
Marketing Solutions
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Percentage of fair value of reporting unit in excess of carrying value	41.00%
Enterprise Solutions
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Percentage of fair value of reporting unit in excess of carrying value	113.00%

Principal accounting policies - Lease accounting (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2019
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Lease liabilities	$ 3,604
ROU assets	$ 3,834	$ 3,421
ASC 842
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Lease liabilities			$ 2,634
ROU assets			$ 2,634

Principal accounting policies - Derivative financial instrument (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) DerivativeFinancialInstrument	Dec. 31, 2020 USD ($) DerivativeFinancialInstrument
Accounting Policies [Abstract]
Fair value losses recognized \| $	$ 11,466	$ 11,466
Derivative financial instrument \| DerivativeFinancialInstrument	0	0

Principal accounting policies - Revenue recognition and cost of revenues - Disaggregation by pricing models (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Net revenues	$ 307,702	$ 254,745	$ 199,408
Recognized over time
Disaggregation of Revenue [Line Items]
Net revenues	88,013	61,117	32,396
Recognized over time \| Sales agent
Disaggregation of Revenue [Line Items]
Net revenues	4,195	5,834	6,563
Recognized over time \| Cost-plus
Disaggregation of Revenue [Line Items]
Net revenues	26,062	26,738	17,146
Recognized over time \| SaaS Products and Services
Disaggregation of Revenue [Line Items]
Net revenues	57,756	28,545	8,687
Recognized at point in time
Disaggregation of Revenue [Line Items]
Net revenues	219,689	193,628	167,012
Recognized at point in time \| SaaS Products and Services
Disaggregation of Revenue [Line Items]
Net revenues	7,336	348	1,749
Recognized at point in time \| Specified actions
Disaggregation of Revenue [Line Items]
Net revenues	$ 212,353	$ 193,280	$ 165,263

- Definition

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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-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

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

+ Details

Principal accounting policies - Revenue recognition and cost of revenues - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Revenue from sales agents and cost-plus arrangements	$ 30,257	$ 32,572	$ 23,709
Gross Revenue	$ 277,445	$ 222,173	$ 175,699

- Definition

Amount, including 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 30
-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

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

+ Details

Principal accounting policies - Revenue recognition and cost of revenues - SaaS Products and Services (Details) - SaaS Products and Services	12 Months Ended
	Dec. 31, 2021
Minimum [Member]
Disaggregation of Revenue [Line Items]
Contracts with customers term	1 month
Maximum
Disaggregation of Revenue [Line Items]
Contracts with customers term	24 months

Principal accounting policies - Revenue recognition and cost of revenues - Contract balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Revenue recognized relating to deferred revenue as of January 1	$ 18,795	$ 15,760

Principal accounting policies - Revenue recognition and cost of revenues - Practical Expedients (Details)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Practical expedients of transaction price allocated to the performance obligation	true
Practical expedients of payment terms and conditions vary by contract type	false
Practical expedients for general expenses sales commission incurred of amortization period	false

Principal accounting policies - Research and development expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Capitalized development costs related to ERP software as intangible assets	$ 111	$ 156	$ 229

Principal accounting policies - Sales and marketing expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Advertising expenses	$ 10,458	$ 8,658	$ 13,084

Principal accounting policies - Uncertain tax positions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Interest and penalties associated with uncertain tax positions	$ 0	$ 0	$ 0
Uncertain tax positions	$ 0	$ 0	$ 0

Principal accounting policies - Statutory reserves (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Percentage of after tax net income transferred to statutory general reserve	10.00%	10.00%	10.00%
Limit of statutory reserve fund as a percentage of registered capital, after which allocations to statutory reserve fund are no longer required	50.00%	50.00%	50.00%

Principal accounting policies - Dividends (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Dividends declared	$ 0	$ 0	$ 0

Principal accounting policies - Segment reporting (Details)	12 Months Ended
	Dec. 31, 2021 segment
Accounting Policies [Abstract]
Number of reportable segments	2

Certain risks and concentration - Schedule of Financial Data for VIEs on Aggregated Basis Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 41,443	$ 52,232	$ 36,854
Accounts receivable, net	187,261	143,142
Prepaid media costs	36,709	34,528
Amount due from an equity investee	276	218
Other current assets	24,957	14,138
Property and equipment, net	1,931	1,113
Intangible assets	53,713	56,431
Right-of-use assets	3,834	3,421
Other long-term investments	12,114	8,651
Other non-current assets	1,663	567
Total assets	507,734	470,115
Liabilities
Accounts payable	66,587	43,140
Deferred revenue	22,802	28,199	$ 27,089
Lease liabilities	3,604
Bank borrowings (including bank borrowing of the consolidated VIE and its subsidiaries without recourse to the Company of US$457 and US$1,889 as of December 31, 2020 and 2021, respectively)	75,530	56,040
Income tax payable (including income tax payable of the consolidated VIE and its subsidiaries without recourse to the Company of US$483 and US$575 as of December 31, 2020 and 2021, respectively)	4,050	4,182
Accrued liabilities and other current liabilities	29,735	29,331
Deferred tax liabilities of the consolidated VIE and its subsidiaries without recourse to the Company	13,378	14,156
Total liabilities	216,145	191,027
VIE
Assets
Cash and cash equivalents	2,681	2,113
Accounts receivable, net	3,586	1,720
Prepaid media costs	1,151	1,587
Amount due from an equity investee	5,879	6,643
Other current assets	1,266	1,012
Property and equipment, net	65	82
Intangible assets	140	336
Right-of-use assets	384	484
Other long-term investments	1,233
Other non-current assets		12
Total assets	16,385	13,989
Liabilities
Accounts payable	2,262	371
Deferred revenue	88	644
Lease liabilities	384	484
Bank borrowings (including bank borrowing of the consolidated VIE and its subsidiaries without recourse to the Company of US$457 and US$1,889 as of December 31, 2020 and 2021, respectively)	1,889	457
Income tax payable (including income tax payable of the consolidated VIE and its subsidiaries without recourse to the Company of US$483 and US$575 as of December 31, 2020 and 2021, respectively)	575	483
Amounts due to subsidiaries of the Group	2,120	1,878
Accrued liabilities and other current liabilities	1,444	1,519
Deferred tax liabilities of the consolidated VIE and its subsidiaries without recourse to the Company	99	146
Total liabilities	$ 8,861	$ 5,982

Certain risks and concentration - Schedule of Financial Data for VIEs on Aggregated Basis Statement of Loss and Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financial Information:
Net revenues	$ 307,702	$ 254,745	$ 199,408
Net loss	(13,631)	(12,618)	(9,603)
Net cash (used in)/provided by operating activities	(19,673)	(19,633)	(30,294)
Net cash used in investing activities	(22,390)	(27,693)	6,762
Net cash provided by financing activities	24,743	79,983	44,804
VIE
Financial Information:
Net revenues	23,865	22,102	20,670
Net loss	(900)	(1,755)	(451)
Net cash (used in)/provided by operating activities	(1,681)	31	(142)
Net cash used in investing activities	(14)	(29)	(69)
Net cash provided by financing activities	2,195	457
VIE \| Subsidiaries of the Group
Financial Information:
Net revenues	1,028	4,761	1,645
Net cash (used in)/provided by operating activities	772	2,141	(1,500)
VIE \| Third Parties
Financial Information:
Net revenues	22,837	17,341	19,025
Net cash (used in)/provided by operating activities	(2,453)	(2,110)	1,358
VIE \| Receipts of Advances Group Companies
Financial Information:
Net cash provided by financing activities	1,588		588
VIE \| Repayments of Advances from Group Companies
Financial Information:
Net cash provided by financing activities	(554)		$ (588)
VIE \| Other Financing Activities
Financial Information:
Net cash provided by financing activities	$ 1,161	$ 457

Certain risks and concentration - Financial Data for VIEs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Risks And Uncertainties [Abstract]
Intercompany online advertising service revenues, Variable Interest Entity	$ 911,000	$ 4,761,000	$ 1,469,000
Intercompany marketing service revenues, Variable Interest Entity	117,000		176,000
Intercompany online advertising and SaaS service revenues from VIE	49,000	996,000	4,023,000
Management fees charged to VIE	$ 0	$ 0	$ 0

Certain risks and concentration - Fair value measurements (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair value measurement
Contingent consideration payable	$ (4,507,000)	$ (7,755,000)
Financial assets and liabilities	11,731,000	4,868,000
Debt investment	2,550,000		$ 49,008,000	$ 34,837,000
Other long-term investments	12,114,000	8,651,000
Financial asset measured using Level 3 input		0
Short-Term Investments
Fair value measurement
Short-term investments	1,574,000	12,623,000
Fair Value, Inputs, Level 1
Fair value measurement
Financial assets and liabilities		2,342,000
Fair Value, Inputs, Level 1 \| Short-Term Investments
Fair value measurement
Short-term investments		2,342,000
Level 2
Fair value measurement
Financial assets and liabilities	1,574,000	10,281,000
Level 2 \| Short-Term Investments
Fair value measurement
Short-term investments	1,574,000	10,281,000
Level 3
Fair value measurement
Contingent consideration payable	(4,507,000)	(7,755,000)
Financial assets and liabilities	10,157,000	(7,755,000)
Debt investment	2,550,000		49,008,000
Other long-term investments	$ 12,114,000	$ 8,651,000	$ 1,503,000

Certain risks and concentration - Summary of Changes in Level 3 Financial Liabilities for Convertible Notes and Derivative Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair value measurement
Balance at the beginning of year		$ 49,008	$ 34,837
New issuance of convertible notes		19,184	30,000
Issuance of convertible notes upon exercise of call option		11,466
Conversion of convertible notes		(68,895)	(4,431)
Redemption of convertible notes		(15,196)	(11,265)
Balance at the end of year	$ 2,550		49,008
Fair value changes	11,466	11,466
Level 3
Fair value measurement
Balance at the beginning of year		49,008
Fair value changes		4,433
New issuance of convertible notes		19,184
Issuance of convertible notes upon exercise of call option		11,466
Conversion of convertible notes		(68,895)
Redemption of convertible notes		(15,196)
Balance at the end of year	2,550		$ 49,008
Fair value changes		11,466
Issuance of convertible notes upon exercise of call option		(11,466)
Balance at the beginning of year	7,755
Fair value changes	418	81
Business combination (Note 4(d))		7,674
Settlement of contingent consideration	(3,666)
Balance at the end of year	$ 4,507	$ 7,755

Certain risks and concentration - Summary of Changes in Level 3 Financial Assets for Debt Investment-Convertible Note (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair value measurement
Balance at the beginning of year		$ 49,008	$ 34,837
Acquisition	$ 10,007	(6,226)	7,171
Balance at the end of year	2,550		49,008
Level 3
Fair value measurement
Balance at the beginning of year		$ 49,008
Acquisition	2,550
Balance at the end of year	$ 2,550		$ 49,008

Certain risks and concentration - Concentration risk (Details) - customer	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Concentration of revenues \| Customer concentration risk \| Minimum [Member]
Concentration risk
Number of individual customers	0	0
Concentration risk (in percent)	10.00%	10.00%
Concentration of revenues \| Customer One \| Customer concentration risk
Concentration risk
Number of individual customers			1
Concentration risk (in percent)			14.00%
Accounts Receivable
Concentration risk
Maximum term of credit to customers (in days)	180 days
Accounts Receivable \| Customer concentration risk \| Minimum [Member]
Concentration risk
Number of individual customers	0	0
Concentration risk (in percent)	10.00%	10.00%
Accounts Receivable \| Top Ten Customers \| Customer concentration risk
Concentration risk
Number of individual customers	10	10
Concentration risk (in percent)	37.00%	39.00%

Certain risks and concentration - Fair value measurement - Equity securities without readily determinable fair value (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Concentration risk
Impairment charges to investments	$ 4,038
Discount for lack of marketability	20
Minimum [Member]
Concentration risk
Price-to-sales multiples	2.4
Maximum
Concentration risk
Price-to-sales multiples	6.5

Certain risks and concentration - Summary of Changes In Financial Asset Measured Using Level 3 Input on a Non-recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair value measurement
Other long term investments, Balance at the beginning of year	$ 8,651
Other long term investments, Balance at the end of year	12,114	$ 8,651
Level 3
Fair value measurement
Other long term investments, Balance at the beginning of year	8,651	1,503
Other long term investments Investments, made/transferred from prepayments	7,417	7,135
Other long term investments, Impairment on investments	(4,038)
Other long term investments, Exchange differences	84	13
Other long term investments, Balance at the end of year	$ 12,114	$ 8,651

Acquisitions - Changyi Group - Identifiable assets acquired and liabilities assumed (Details) $ in Thousands, ¥ in Millions	1 Months Ended		12 Months Ended
	Jan. 31, 2019 USD ($)	Jan. 31, 2019 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Business acquisition
Goodwill			$ 81,674	$ 74,419	$ 65,710
Acquisition			$ 10,007	$ (6,226)	7,171
Changyi Group
Business acquisition
Equity interest (as a percent)	34.38%
Fair value of cash consideration transferred	$ 6,190	¥ 42.6
Cash	219
Other current assets	490
Property and equipment	56
Intangible assets	1,830
Current liabilities	(405)
Deferred tax liabilities	(274)
Non-controlling interests	(11,815)
Total identifiable net assets (deficits) acquired	(9,899)
Goodwill	$ 16,089
Acquisition					$ 6,190

Acquisitions - Changyi Group - Additional Information (Details) - Changyi Group - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2019	Dec. 31, 2019
Business acquisition
Gross carrying amount	$ 1,830
Net revenues		$ 5,518
Net loss		$ 997
Developed technologies
Business acquisition
Estimated useful life	5 years
Gross carrying amount	$ 117
Customer relationship
Business acquisition
Estimated useful life	5 years
Gross carrying amount	$ 1,103
Contract backlog
Business acquisition
Estimated useful life	3 years
Gross carrying amount	$ 610
Income approach
Business acquisition
Estimated useful life	5 years
Income approach \| Fair value inputs discount rate
Business acquisition
Intangible asset measurement input	30.20%
Minimum [Member] \| Income approach \| Terminal growth rate
Business acquisition
Intangible asset measurement input	10.00%
Maximum \| Income approach \| Terminal growth rate
Business acquisition
Intangible asset measurement input	30.00%

Acquisitions - Addoil Group - Identifiable assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands	1 Months Ended
	Feb. 28, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business acquisition
Goodwill		$ 81,674	$ 74,419	$ 65,710
Addoil Group
Business acquisition
Equity interest (as a percent)	100.00%
Fair value of cash consideration transferred	$ 1,218
Cash	18
Other current assets	42
Property and equipment	34
Right-of-use asset	34
Current liabilities	(35)
Total identifiable net assets (deficits) acquired	93
Goodwill	$ 1,125

Acquisitions - Addoil Group - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business acquisition
Acquisition	$ 10,007	$ (6,226)	$ 7,171
Addoil Group
Business acquisition
Acquisition			$ 1,218
Addoil Group \| Maximum
Business acquisition
Maximum net revenue (loss) as a percent of consolidated net revenue (loss)			5.00%

Acquisitions - Optimal - Identifiable assets acquired and liabilities assumed (Details) ¥ in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2020 USD ($) shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares	May 31, 2020 CNY (¥) shares
Ordinary Shares - Class A
Business acquisition
Acquisition, Share Price \| shares		42,865,515	40,996,215
Advertising contract
Business acquisition
Useful life (in years)		30 years
Optimal
Business acquisition
Equity interest (as a percent)	80.00%		20.00%	80.00%
Cash	$ 3,001
Intangible assets	53,287
Other liabilities	(3,030)
Deferred tax liabilities	(13,322)
Non-controlling interests	(7,987)
Total identifiable net assets (deficits) acquired	31,949
Optimal \| Ordinary Shares - Class A
Business acquisition
Fair value of cash consideration transferred	$ 31,949
Acquisition, Share Price \| shares	3,589,744			3,589,744
Optimal \| Advertising contract
Business acquisition
Intangible asset estimated useful life	30 years
Payment obligations on annual license fee	$ 5			¥ 30
Useful life (in years)	30 years

Acquisitions - CMRS Group - Identifiable assets acquired and liabilities assumed (Details) $ in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	Oct. 31, 2020 USD ($) shares	Oct. 31, 2020 HKD ($)	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($)	Dec. 31, 2022 USD ($)
Business acquisition
Goodwill			$ 81,674	$ 74,419	$ 65,710
Escrow amount included in restricted cash				506
Acquisition			10,007	(6,226)	$ 7,171
Cash consideration settled			4,507	$ 3,376
Issuance of ordinary shares upon settlement for contingent consideration payable (Note 4(d))			$ 2,060
Ordinary Shares - Class A
Business acquisition
Acquisition, Share Price \| shares			42,865,515	40,996,215
CMRS Group Holding Limited
Business acquisition
Equity interest (as a percent)	100.00%
Fair value of cash consideration transferred	$ 4,335	$ 33,594	$ 2,024	$ 4,335
Business acquisition contingent consideration	7,674
Fair value of cash consideration transferred	14,449
Cash	3,651
Restricted cash (Note (iii)	532
Accounts receivable	4,149
Intangible assets	2,194
Other assets	1,792
Deferred tax liabilities	(362)
Other liabilities	(6,216)
Total identifiable net assets (deficits) acquired	5,740
Goodwill	$ 8,709
Escrow amount included in restricted cash			506
Cash consideration settled				959
Remaining balance of cash consideration settled			$ 3,376
Business acquisition contingent consideration, percentage	4.32%	4.32%
Issuance of ordinary shares upon settlement for contingent consideration payable (note 4(d)), shares \| shares			183,740
Issuance of ordinary shares upon settlement for contingent consideration payable (Note 4(d))			$ 2,060
Change in fair value recorded in consolidated statement of comprehensive loss under other gains, net			$ 418	$ (81)
CMRS Group Holding Limited \| Income approach
Business acquisition
Estimated useful life	4 years	4 years
CMRS Group Holding Limited \| Income approach \| Terminal growth rate
Business acquisition
Intangible asset measurement input	22.30%	22.30%
CMRS Group Holding Limited \| Income approach \| Fair value inputs discount rate \| Minimum [Member]
Business acquisition
Intangible asset measurement input	3.00%	3.00%
CMRS Group Holding Limited \| Income approach \| Fair value inputs discount rate \| Maximum
Business acquisition
Intangible asset measurement input	6.20%	6.20%
CMRS Group Holding Limited \| Subsequent Event \| Current Liabilities
Business acquisition
Remaining balance of cash consideration settled						$ 4,507
CMRS Group Holding Limited \| Ordinary Shares - Class A
Business acquisition
Fair value of cash consideration transferred	$ 2,440
Acquisition, Share Price \| shares	182,950
Class A ordinary shares of the Company	$ 2,440

Acquisitions - CMRS Group - Additional Information (Details) - CMRS Group Holding Limited - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Business acquisition
Gross carrying amount	$ 2,194
Net revenues		$ 270,326	$ 221,603
Net loss		$ (13,346)	$ (10,505)
Brand name
Business acquisition
Estimated useful life	4 years
Gross carrying amount	$ 1,162
Customer relationship
Business acquisition
Estimated useful life	4 years
Gross carrying amount	$ 1,032

Acquisitions - Sky Gem International Limited - Additional Information (Details) - Sky Gem International Limited - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2021	Dec. 31, 2021
Business acquisition
Equity interest (as a percent)	51.00%
Fair value of cash consideration transferred	$ 3,200	$ 3,200
Maximum net revenue (loss) as a percent of consolidated net revenue (loss)		1.00%

Acquisitions - Sky Gem International Limited - Identifiable assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business acquisition
Goodwill		$ 81,674	$ 74,419	$ 65,710
Sky Gem International Limited
Business acquisition
Fair value of cash consideration transferred	$ 3,200	$ 3,200
Other assets	2,000
Other liabilities	(17)
Non-controlling interests	(3,072)
Total identifiable net assets acquired, net of non-controlling interests	(1,089)
Goodwill	$ 4,289

Acquisitions - Parllay - Additional Information (Details) - Parllay - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2021	Dec. 31, 2021
Business acquisition
Fair value of cash consideration transferred	$ 1,825	$ 1,825
Maximum net revenue (loss) as a percent of consolidated net revenue (loss)		5.00%
Income approach
Business acquisition
Estimated useful life	5 years
Income approach \| Terminal growth rate
Business acquisition
Intangible asset measurement input	32.00%
Income approach \| Fair value inputs discount rate
Business acquisition
Intangible asset measurement input	22.70%

Acquisitions - Parllay - Identifiable assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business acquisition
Goodwill		$ 81,674	$ 74,419	$ 65,710
Parllay
Business acquisition
Cash consideration	$ 1,825
Intangible assets	279
Deferred tax liabilities	(70)
Total identifiable net assets (deficits) acquired	209
Goodwill	$ 1,616

Acquisitions - Parllay - Schedule of estimated amounts recognized on acquired identifiable intangible asset and its estimated useful life (Details) - Parllay $ in Thousands	1 Months Ended
	Jul. 31, 2021 USD ($)
Business acquisition
Gross carrying amount	$ 279
Developed technology
Business acquisition
Estimated useful life	5 years
Gross carrying amount	$ 279

Cash and cash equivalents and time deposits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash And Cash Equivalents [Abstract]
Time deposits	$ 11,128	$ 89
Maturity (in months)	3 months

Cash and cash equivalents and time deposits - Cash on hand and cash held at bank (Details) € in Thousands, ¥ in Thousands, ¥ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 HKD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2021 SGD ($)	Dec. 31, 2021 TWD ($)	Dec. 31, 2021 JPY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 HKD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2020 SGD ($)	Dec. 31, 2020 TWD ($)	Dec. 31, 2020 JPY (¥)
Cash and cash equivalents and time deposit
Cash on hand and cash held at bank	$ 52,571							$ 52,321
RMB
Cash and cash equivalents and time deposit
Cash on hand and cash held at bank	17,576	¥ 111,651						16,108	¥ 105,792
HK$
Cash and cash equivalents and time deposit
Cash on hand and cash held at bank	8,231		$ 63,787					14,206		$ 110,094
US$
Cash and cash equivalents and time deposit
Cash on hand and cash held at bank	26,077							21,635
European dollars
Cash and cash equivalents and time deposit
Cash on hand and cash held at bank	336			€ 297				128			€ 107
Singapore dollars
Cash and cash equivalents and time deposit
Cash on hand and cash held at bank	159				$ 217			103				$ 138
New Taiwan dollars
Cash and cash equivalents and time deposit
Cash on hand and cash held at bank	113					$ 3,118		80					$ 2,303
Japanese Yen
Cash and cash equivalents and time deposit
Cash on hand and cash held at bank	29						¥ 3,163	9						¥ 966
Others
Cash and cash equivalents and time deposit
Cash on hand and cash held at bank	67							67
Cash and Cash Equivalents and Time Deposits	$ 50							$ 52

Restricted cash - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Cash And Cash Equivalents Items [Line Items]
Escrow amount deposited for business acquisition		$ 506
Remaining restricted cash excluding escrow deposit		$ 41,639
Fixed interest weighted average rate	0.33%	0.57%
Restricted cash	$ 36,146	$ 42,145	$ 23,852
US$
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash	26,111	41,613
HK$
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash		$ 26
RMB
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash	$ 10,035

Equity Investment - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	May 31, 2019
Schedule Of Equity Method Investments [Line Items]
Loss on share of equity investee	$ 107	$ 111
Due from equity method investment	$ 276	$ 218
V Click Technology
Schedule Of Equity Method Investments [Line Items]
Equity interest, percentage			49.00%
V Click Technology \| VGI
Schedule Of Equity Method Investments [Line Items]
Equity interest, percentage			51.00%

Equity Investment - Summary of investment in V-Click (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity Method Investments And Joint Ventures [Abstract]
Balance at the beginning of year	$ 460	$ 158
Capital injection		412	$ 566
Share of losses	(107)	(111)
Exchange differences	1	1
Balance at the end of year	$ 354	$ 460	$ 158

Other Long-term investments - Summary of Other Long-term Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Long Term Investments [Abstract]
Prepayments for long-term investments		$ 2,924
Other long-term investments, gross	$ 16,152	8,651
Less: Impairment	4,038
Other long-term investments	$ 12,114	$ 8,651

Other Long-term investments - Summary of Movement of Other Long-term Investments and Prepayments for Long-term Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Long Term Investments [Abstract]
Balance at the beginning of year	$ 11,575	$ 2,503
Investments made/transferred from prepayments	4,502	7,129
Prepayments made		1,901
Impairment	(4,038)
Exchange differences	75	42
Balance at the end of year	12,114	11,575
Prepayments for long-term investments		2,924
Other long-term investments	$ 12,114	$ 8,651

Other Long-term investments (Details) $ in Thousands	12 Months Ended
Other Long-term investments (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Long Term Investments [Abstract]
Impairment charges for investments without readily determinable fair value	$ 4,038

Accounts receivables, net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable Net Current [Abstract]
Accounts receivable, gross (Note)	$ 210,047	$ 154,891
Less: allowance for credit losses (Note 2(j))	(22,786)	(11,749)
Accounts receivable, net	$ 187,261	$ 143,142

Accounts receivables, net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Accounts Notes And Loans Receivable [Line Items]
Bills receivable	$ 154,891	$ 210,047
short-term Notes Receivable
Accounts Notes And Loans Receivable [Line Items]
Bills receivable	$ 852	$ 478
short-term Notes Receivable \| Minimum [Member]
Accounts Notes And Loans Receivable [Line Items]
Bills receivable maturity period	5 months
short-term Notes Receivable \| Maximum
Accounts Notes And Loans Receivable [Line Items]
Bills receivable maturity period	6 months

Other assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current
Deposits	$ 2,609	$ 5,359
Prepayments	7,520	5,177
Loans and interest receivable, net (Notes 2(j), 10(i))	12,302	1,480
VAT recoverable	1,275	1,088
Others	1,251	1,034
Other assets, Current	24,957	14,138
Non-current
Rental deposits	302	468
Prepayment	1,361	99
Other assets, Noncurrent	$ 1,663	$ 567

Other assets - Additional Information (Details)	12 Months Ended
Other assets - Additional Information (Details)	Dec. 31, 2021	Dec. 31, 2020
Other Asset Disclosure [Line Items]
Weighted average interest rate	4.64%	4.19%
Maturity description	due on demand or within one year from the end of the reporting period.
Certain Third Parties and Equity Investees
Other Asset Disclosure [Line Items]
Weighted average interest rate	6.00%	7.00%

Property and equipment, net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property and equipment, net
Property and equipment, gross	$ 8,917	$ 7,779
Less: Accumulated depreciation	(6,918)	(6,565)
Exchange differences	(68)	(101)
Property and equipment, net	1,931	1,113
Office equipment
Property and equipment, net
Property and equipment, gross	5,035	4,830
Leasehold improvements
Property and equipment, net
Property and equipment, gross	2,542	1,842
Furniture and fixtures
Property and equipment, net
Property and equipment, gross	1,327	1,094
Motor Vehicles
Property and equipment, net
Property and equipment, gross	$ 13	$ 13

Property and equipment, net - Depreciation expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property and equipment, net
Depreciation expense	$ 648	$ 381	$ 334
Cost of revenues
Property and equipment, net
Depreciation expense	7	3	2
Research and development
Property and equipment, net
Depreciation expense	152	80	49
Sales and marketing expenses
Property and equipment, net
Depreciation expense	171	96	21
General and administrative expenses
Property and equipment, net
Depreciation expense	$ 318	$ 202	$ 262

Intangible assets, net (Details) - USD ($) $ in Thousands	12 Months Ended
Intangible assets, net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Cost	$ 80,984	$ 80,500
Less: Accumulated amortization	(27,336)	(24,095)
Exchange differences	65	26
Intangible assets, net	53,713	56,431
Computer software
Finite Lived Intangible Assets [Line Items]
Cost	23,673	23,189
Developed technology
Finite Lived Intangible Assets [Line Items]
Cost	117	117
Customer relationship
Finite Lived Intangible Assets [Line Items]
Cost	2,135	2,135
Brand name
Finite Lived Intangible Assets [Line Items]
Cost	1,162	1,162
Contract backlog
Finite Lived Intangible Assets [Line Items]
Cost	610	610
Advertising contract
Finite Lived Intangible Assets [Line Items]
Cost	$ 53,287	$ 53,287

Intangible assets, net - Amortization expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Intangible assets, net
Amortization expense	$ 3,238	$ 4,189	$ 4,774
Cost of revenues
Intangible assets, net
Amortization expense	3,070	4,187	4,771
Research and development
Intangible assets, net
Amortization expense			1
Sales and marketing expenses
Intangible assets, net
Amortization expense	12
General and administrative expenses
Intangible assets, net
Amortization expense	$ 156	$ 2	$ 2

Intangible assets, net - Estimated amortization expense (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets Net Excluding Goodwill [Abstract]
2022	$ 3,200
2023	2,552
2024	2,258
2025	1,840
2026 onwards	43,863
Intangible assets, net	$ 53,713	$ 56,431

Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill
Goodwill	$ 74,419	$ 65,710
Goodwill arising from acquisitions during the year	5,905	8,709
Exchange differences	1,350
Goodwill	81,674	74,419
Marketing Solutions
Goodwill
Goodwill	53,024	49,621
Goodwill arising from acquisitions during the year		3,403
Goodwill	53,024	53,024
Enterprise Solutions
Goodwill
Goodwill	21,395	16,089
Goodwill arising from acquisitions during the year	5,905	5,306
Exchange differences	1,350
Goodwill	$ 28,650	$ 21,395

Goodwill - Additional Information (Details) - USD ($)	12 Months Ended
Goodwill - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Combination Goodwill [Abstract]
Goodwill impairment	$ 0	$ 0	$ 0

Lease Accounting - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lessee Lease Description [Line Items]
Amortization of right-of-use assets	$ 2,785	$ 1,930	$ 1,548
Lessee, operating lease, existence of option to extend	true
Lessee, operating lease, existence of option to terminate	true
Operating lease, weighted average remaining lease term	21 months	13 months
Operating lease, weighted average discount rate, percent	4.30%	6.50%
Minimum [Member]
Lessee Lease Description [Line Items]
Lessee, operating lease, term of contract	12 months	12 months
Maximum
Lessee Lease Description [Line Items]
Lessee, operating lease, term of contract	36 months	60 months

Lease Accounting - Schedule of maturity of operating lease liabilities (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2022	$ 2,421
2023	1,387
2024	120
Total operating lease payments (undiscounted)	3,928
Less: Imputed interest	(324)
Total operating lease liabilities (discounted)	$ 3,604

Lease Accounting - Summary of lease cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Relating to the operating lease liabilities	$ 2,862	$ 2,155	$ 1,721
Relating to short-term leases	1,518	912	887
Total lease cost	$ 4,380	$ 3,067	$ 2,608

Lease Accounting - Summary of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Cash payments for amounts included in the measurement of operating lease liabilities	$ 4,380	$ 3,067	$ 2,449
Right-of-use assets obtained in exchange for operating lease liabilities	$ 3,163	$ 2,710	$ 3,199

Deferred revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Contract With Customer Asset And Liability [Abstract]
Deferred revenue, current	$ 22,802	$ 28,199	$ 27,089

Deferred revenue - Schedule of changes in contract with customer liability balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Contract With Customer Asset And Liability [Abstract]
Balance at beginning of year	$ 28,199	$ 27,089
Additions to deferred revenue	135,292	203,221
Recognition of deferred revenue as revenues	(141,156)	(203,599)
Exchange differences	467	1,488
Balance at end of year	$ 22,802	$ 28,199

Accrued liabilities and other liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current
Rebates payable to customers	$ 733	$ 1,236
VAT and other taxes payable	5,014	4,440
Security deposit received from customers	418	510
Accrued employee benefits	10,548	8,968
Accrued professional fees	5,076	5,951
Accrued marketing and hosting expense	1,326	2,939
Consideration payable	4,507	3,376
Advance from a former non-controlling interest shareholder (Note)	475
Others	1,638	1,911
Accrued liabilities and other current liabilities	29,735	29,331
Non-current
Deferred other income	459	375
Advance from a former non-controlling interest		4,521
Accrued liabilities and other non current liabilities	$ 459	$ 4,896

Bank Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Bank borrowings
Bank borrowings	$ 75,530	$ 56,040
1-year revolving loan denominated in RMB
Bank borrowings
Bank borrowings	31,912	5,584
Half-year revolving loans denominated in RMB
Bank borrowings
Bank borrowings	26,691	35,104
Revolving service trade loan denominated in HK$
Bank borrowings
Bank borrowings	84	3,999
Rollover period revolving loan denominated in US$
Bank borrowings
Bank borrowings		1,000
3-month revolving loan denominated in RMB
Bank borrowings
Bank borrowings	9,917	$ 10,353
1-year term loans denominated in RMB
Bank borrowings
Bank borrowings	$ 6,926

- Definition

The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Bank Borrowings (Parenthetical) (Details)	Dec. 31, 2021	Dec. 31, 2020
1-year revolving loan denominated in RMB
Bank borrowings
Interest rates	5.22%
1-year revolving loan denominated in RMB \| Minimum [Member]
Bank borrowings
Interest rates		4.50%
1-year revolving loan denominated in RMB \| Maximum
Bank borrowings
Interest rates		5.22%
Half-year revolving loans denominated in RMB \| Minimum [Member]
Bank borrowings
Interest rates	3.00%	3.45%
Half-year revolving loans denominated in RMB \| Maximum
Bank borrowings
Interest rates	6.25%	6.35%
Revolving service trade loan denominated in HK$ \| Minimum [Member]
Bank borrowings
Interest rates	4.35%	4.03%
Revolving service trade loan denominated in HK$ \| Maximum
Bank borrowings
Interest rates	4.43%	4.43%
Rollover period revolving loan denominated in US$
Bank borrowings
Interest rates		4.59%
3-month revolving loan denominated in RMB
Bank borrowings
Interest rates	3.00%	3.25%
1-year term loans denominated in RMB \| Minimum [Member]
Bank borrowings
Interest rates	3.85%
1-year term loans denominated in RMB \| Maximum
Bank borrowings
Interest rates	4.50%

Bank Borrowings - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Bank borrowings
Accounts receivable	$ 187,261	$ 143,142
Available banking facilities	213,289	121,708
Bank borrowings (including bank borrowing of the consolidated VIE and its subsidiaries without recourse to the Company of US$457 and US$1,889 as of December 31, 2020 and 2021, respectively)	75,530	56,040
Bank borrowings	115,338	58,667
Pledged Assets
Bank borrowings
Restricted cash pledge	33,326
Service Trade
Bank borrowings
Bank borrowings	18,013	6,001
Term Loan Facilities
Bank borrowings
Bank borrowings	4,408	1,000
Corporate Guarantee
Bank borrowings
Bank deposits	36,146	41,639
Accounts receivable	$ 18,250	$ 36,956

Bank Borrowings - Weighted average interest rate (Details)	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Weighted average interest rate for bank borrowings outstanding	4.64%	4.19%

Convertible notes at fair value (Details) - USD ($)			12 Months Ended
Convertible notes at fair value (Details) - USD ($)	Jul. 30, 2020	Feb. 17, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
Debt Instrument [Line Items]
Outstanding convertible notes			$ 0		$ 0
Shares issued			13,654,070
2019 Notes
Debt Instrument [Line Items]
Issuance costs related to notes			$ 44,000	$ 4,556,000
Interest rate (in percent)					5.00%
July 2020 Notes
Debt Instrument [Line Items]
Notes issued at par		$ 13,100,000
Cash consideration receivable		$ 15,196,000
Shares issued	3,851,694
Fair value of the Call Option recorded as derivative liabilities	$ 11,466,000
Volatility	13.39%
Risk-free rate	0.09%
July 2020 Notes \| Ordinary Shares - Class A
Debt Instrument [Line Items]
Shares issued	1,925,848

Convertible notes at fair value - Schedule of Issuance of Convertible Notes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 17, 2020
July 2020 Notes
Bank borrowings
Principal amounts		$ 13,100,000
Convertible Notes \| 2018 Notes
Bank borrowings
Issue date	Sep. 12, 2018
Maturity date	Sep. 12, 2023
Principal amounts	$ 30,000
Coupon rate	0.00%
Convertible Notes \| November 2019 Notes
Bank borrowings
Issue date	Nov. 11, 2019
Maturity date	Nov. 11, 2022
Principal amounts	$ 20,000
Coupon rate	5.00%
Convertible Notes \| December 2019 Notes
Bank borrowings
Issue date	Dec. 16, 2019
Maturity date	Dec. 16, 2022
Principal amounts	$ 10,000
Coupon rate	5.00%
Convertible Notes \| January 2020 Notes
Bank borrowings
Issue date	Jan. 23, 2020
Maturity date	Sep. 12, 2023
Principal amounts	$ 3,450
Coupon rate	0.00%
Convertible Notes \| July 2020 Notes
Bank borrowings
Issue date	Jul. 30, 2020
Maturity date	Sep. 12, 2023
Principal amounts	$ 13,100
Coupon rate	0.00%

Convertible notes at fair value - Schedule of movement of transactions of convertible notes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Bank borrowings
Balance at the beginning of year	$ 49,008	$ 34,837
Fair value changes	4,433	(133)
New issuance	19,184	30,000
Issuance of convertible notes upon exercise of call option	11,466
Conversion of convertible notes	(68,895)	(4,431)
Redemption of convertible notes	(15,196)	(11,265)
Balance at the end of year		49,008
2018 Notes
Bank borrowings
Balance at the beginning of year	19,182	34,837
Fair value changes	3,644	41
Conversion of convertible notes	(7,630)	(4,431)
Redemption of convertible notes	(15,196)	(11,265)
Balance at the end of year		19,182
2019 Notes
Bank borrowings
Balance at the beginning of year	29,826
Fair value changes	445	(174)
New issuance		30,000
Conversion of convertible notes	(30,271)
Balance at the end of year		$ 29,826
2020 Notes
Bank borrowings
Fair value changes	344
New issuance	19,184
Issuance of convertible notes upon exercise of call option	11,466
Conversion of convertible notes	$ (30,994)

Convertible notes at fair value - Schedule of Details of Conversion of Convertible Notes (Details) - USD ($) $ / shares in Units, $ in Thousands							12 Months Ended
	Aug. 11, 2020	Jul. 30, 2020	Jul. 24, 2020	Jun. 30, 2020	Feb. 18, 2020	Feb. 03, 2020	Dec. 31, 2020
Bank borrowings
Principal amount converted							$ 50,550
Number of ADSs converted							13,654,070
Fair value of converted convertible notes as of the conversion date							$ 68,895
2018 Notes
Bank borrowings
Principal amount converted	$ 2,000		$ 1,000	$ 1,000
Number of ADSs converted	536,596		236,546	248,050
Conversion price per ADS US$	$ 3.73		$ 4.23	$ 4.03
Fair value of converted convertible notes as of the conversion date	$ 4,327		$ 1,752	$ 1,551
November 2019 Notes
Bank borrowings
Principal amount converted					$ 20,000
Number of ADSs converted					5,128,206
Conversion price per ADS US$					$ 3.90
Fair value of converted convertible notes as of the conversion date					$ 20,282
December 2019 Notes
Bank borrowings
Principal amount converted					$ 10,000
Number of ADSs converted					2,564,102
Conversion price per ADS US$					$ 3.90
Fair value of converted convertible notes as of the conversion date					$ 9,989
January 2020 Notes
Bank borrowings
Principal amount converted						$ 3,450
Number of ADSs converted						1,088,876
Conversion price per ADS US$						$ 3.17
Fair value of converted convertible notes as of the conversion date						$ 4,346
July 2020 Notes
Bank borrowings
Principal amount converted		$ 13,100
Number of ADSs converted		3,851,694
Conversion price per ADS US$		$ 3.40
Fair value of converted convertible notes as of the conversion date		$ 26,648

Convertible notes at fair value - Schedule of Redeemed Convertible Notes (Details) - 2018 Notes - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020	Feb. 03, 2020	Dec. 31, 2019	Dec. 12, 2019	Nov. 14, 2019	Aug. 22, 2019
Bank borrowings
Principal amount	$ 13,100	$ 6,200	$ 6,900	$ 9,900	$ 3,450	$ 3,450	$ 3,000
Consideration paid for redemption	$ 15,196	$ 7,192	$ 8,004	$ 11,265	$ 4,002	$ 4,002	$ 3,261

Convertible notes at fair value - Summary of fair value of the notes determined using monte carlo simulation with key assumptions (Details)	Aug. 11, 2020	Jul. 30, 2020	Jul. 24, 2020	Jun. 30, 2020	Mar. 31, 2020	Feb. 03, 2020	Dec. 31, 2019	Dec. 12, 2019	Nov. 14, 2019	Aug. 22, 2019	Mar. 01, 2019	Feb. 01, 2019
2018 Notes
Bank borrowings
Volatility	49.75%		49.26%	51.24%	45.38%	42.09%	44.17%	43.86%	44.34%	43.86%	44.99%	44.59%
Risk-free rate	0.23%		0.23%	0.24%	0.45%	1.37%	1.67%	1.71%	1.61%	1.47%	2.62%	2.55%
January 2020 Notes
Bank borrowings
Volatility						42.09%
Risk-free rate						1.37%
July 2020 Notes
Bank borrowings
Volatility		49.45%
Risk-free rate		0.19%

Convertible notes at fair value - Summary of bond yield (Details)		12 Months Ended
	Feb. 18, 2020	Dec. 31, 2019
November 2019 Notes
Bank borrowings
Volatility	44.02%	42.53%
Risk-free rate	1.40%	1.61%
Bond yield	10.67%	10.09%
December 2019 Notes
Bank borrowings
Volatility	43.61%	42.63%
Risk-free rate	1.40%	1.61%
Bond yield	10.67%	10.09%

Ordinary shares (Details)	12 Months Ended
Ordinary shares (Details)	Dec. 31, 2021 Vote $ / shares shares	Dec. 31, 2020 Vote $ / shares shares	Dec. 31, 2019 shares
Class Of Stock [Line Items]
Ordinary shares, shares authorized	100,000,000	100,000,000
Ordinary shares, par value \| $ / shares	$ 0.001	$ 0.001
Ordinary shares
Class Of Stock [Line Items]
Ordinary shares, par value \| $ / shares	$ 0.001
Ordinary shares \| 2010 Share Option Plan \| Arda Holdings Limited
Class Of Stock [Line Items]
Common stock, allotted	627,811
Additional shares allotted	0	0	0
Ordinary Shares - Class A
Class Of Stock [Line Items]
Ordinary shares, shares authorized	80,000,000	80,000,000
Number of votes per share \| Vote	1	1
Ordinary Shares - Class B
Class Of Stock [Line Items]
Ordinary shares, shares authorized	20,000,000	20,000,000
Number of votes per share \| Vote	20	20

Repurchase of shares (Details) - USD ($)	12 Months Ended
Repurchase of shares (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
2018 Share Repurchase Program
Share Repurchase Program [Line Items]
Maximum value of ordinary shares or ADSs of the Company to repurchase	$ 10,000,000
Effective period	Period from November 28, 2018 to November 27, 2019
Total number of ADSs purchased as part of the publicly announced plan			1,301,912
Average price paid per ADS			$ 3.3857
January 2020 Share Repurchase Program
Share Repurchase Program [Line Items]
Maximum value of ordinary shares or ADSs of the Company to repurchase	$ 10,000,000
Effective period	Period from December 30, 2019 to December 29, 2020
Total number of ADSs purchased as part of the publicly announced plan		768,079
Average price paid per ADS		$ 7.0892
December 2020 Share Repurchase Program
Share Repurchase Program [Line Items]
Maximum value of ordinary shares or ADSs of the Company to repurchase	$ 25,000,000
Effective period	Period from December 30, 2020 to December 31, 2021
Total number of ADSs purchased as part of the publicly announced plan	1,209,920	27,599
Average price paid per ADS	$ 8.8324	$ 8.3686
December 2021 Share Repurchase Program
Share Repurchase Program [Line Items]
Maximum value of ordinary shares or ADSs of the Company to repurchase	$ 20,000,000
Effective period	Year ending December 31, 2022

Share-based compensation - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based compensation
Share options granted	0	0	0
Total fair values of options vested and recognized as expenses	$ 4,000	$ 107,000	$ 784,000
Unrecognized share-based compensation expenses	$ 0	$ 4,000	$ 96,000
Weighted-average expense recognition period		3 months	10 months 9 days
Ordinary shares
Share-based compensation
Issuance of ordinary shares upon share offerings (Note 1(c)), shares		5,546,007
Ordinary Shares - Class B \| Ordinary shares \| Share Subscription Agreement with Strategic Partner
Share-based compensation
Issuance of ordinary shares upon share offerings (Note 1(c)), shares	649,349
Offering price per share	$ 26.52
Fair value, per share	$ 28.88
Discount on shares	$ 1,530,000

Share-based compensation - Share option activities (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Weighted average remaining contractual life years	3 years 3 months 21 days	4 years 3 months 10 days	5 years 3 months 7 days	6 years 3 months 7 days
Weighted average remaining contractual life years, Vested and expected to vest	3 years 8 months 23 days	5 years 1 month 2 days	5 years 1 month 20 days
Weighted average remaining contractual life years, Exercisable to vest	3 years 8 months 23 days	5 years 1 month 2 days	5 years 7 months 20 days
Aggregate intrinsic value	$ 1,601	$ 4,578	$ 1,807	$ 2,724
Aggregate intrinsic value, Vested and expected to vest	1,601	5,215	780
Aggregate intrinsic value, Exercisable to vest	$ 1,601	$ 5,213	$ 800
Number of Share options , Beginning balance	432,102	667,867	908,409
Number of Share options, Exercised	(117,788)	(235,765)	(135,281)
Number of Share options, Forfeited			(105,261)
Number of Share options, Ending balance	314,314	432,102	667,867	908,409
Number of Share options, Vested and expected to vest	312,876	430,569	660,247
Number of Share options, Exercisable to vest	314,204	431,245	657,142
Weighted average exercise price, Beginning balance	$ 10.56	$ 8.16	$ 7.52
Weighted average exercise price, Exercised	5.61	3.75	1.25
Weighted average exercise price, Forfeited			11.46
Weighted average exercise price, Ending balance	12.41	10.56	8.16	$ 7.52
Weighted average exercise price, Vested and expected to vest	4.90	5.10	4.72
Weighted average exercise price, Exercisable to vest	4.95	5.13	4.54
Weighted average grant date fair value, Vested and expected to vest	15.25	14.51	12.08
Weighted average grant date fair value, Exercisable to vest	$ 15.23	$ 14.50	$ 12.78

Share-based compensation - RSUs Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted average grant date fair value
Expected to vest at end of the year	$ 19.07	$ 8.83	$ 7.57
Total fair values of RSU vested and recognized as expenses	$ 11,965	$ 6,142	$ 1,331
Service-based RSUs
Number of RSUs
Beginning of the year	634,505	463,546	376,272
Granted	716,265	1,180,295	279,480
Vested	(1,049,007)	(962,606)	(167,833)
Forfeited			(24,373)
End of the year	227,577	634,505	463,546
Expected to vest at end of the year	209,878	620,245	377,507
Forfeited/expired	(74,186)	(46,730)
Weighted average grant date fair value
Beginning of the year	$ 8.11	$ 5.52	$ 8.02
Granted	15.73	7.83	3.79
Vested	11.32	6.55	10.25
Forfeited			7.56
End of the year	17.65	8.11	$ 5.52
Forfeited/expired	$ 12.73	$ 7.26
Restricted Stock Units (RSUs)
Weighted average grant date fair value
Dividend yield	0.00%
Restricted Stock Units (RSUs) \| Minimum [Member]
Weighted average grant date fair value
Volatility rate	37.36%
Risk-free interest rate	0.10%
Restricted Stock Units (RSUs) \| Maximum
Weighted average grant date fair value
Volatility rate	62.89%
Risk-free interest rate	1.72%
Restricted Stock Units (RSUs) \| Employees
Weighted average grant date fair value
Expected future forfeiture rate	1.00%	1.00%	1.00%
Restricted Stock Units (RSUs) \| Non-employees
Weighted average grant date fair value
Expected future forfeiture rate	0.00%	0.00%	0.00%

Share-based compensation - RSUs Activity (Parenthetical) (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Minimum [Member]
Share-based compensation
Vesting period (year)	0 years	0 years	1 year
Maximum
Share-based compensation
Vesting period (year)	4 years	4 years	4 years

Share-based compensation - Issuance of warrants to an external consultant (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2020 shares	Dec. 09, 2019 $ / shares
Share-based compensation
Convertible notes transaction expenses in form of share- based awards (Note 21(c))		$ 3,298
Warrant
Share-based compensation
Number of shares underlying the warrants \| shares	4,651,162
Minimum proceeds to qualify vesting of warrants	$ 20,000
Measurement date fair value of warrants \| $ / shares				$ 0.709
Number of warrants exercised \| shares	0	0	0
Convertible notes transaction expenses in form of share- based awards (Note 21(c))		$ 3,298
Warrant \| Measurement Input, Exercise Price
Share-based compensation
Warrants outstanding, measurement input \| $ / shares				4.30

Share-based compensation - Summary of assumptions used in estimation of fair value of warrants granted (Details) - Warrant	Dec. 09, 2019
Volatility
Share-based compensation
Warrants outstanding, measurement input	42.1
Risk-free Interest Rate
Share-based compensation
Warrants outstanding, measurement input	1.6
Expected Dividend Yield
Share-based compensation
Warrants outstanding, measurement input	0.0
Expected Warrant Life
Share-based compensation
Warrants outstanding, measurement input	3
Expected Forfeiture Rate
Share-based compensation
Warrants outstanding, measurement input	0.0

Share-based compensation - Summary of compensation costs recognized (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Compensation costs
Compensation cost recognized	$ 13,499,000	$ 6,249,000	$ 5,413,000
Cost of revenues
Compensation costs
Compensation cost recognized	12,000	5,000	35,000
Research and development
Compensation costs
Compensation cost recognized	221,000	92,000	661,000
Sales and marketing expenses
Compensation costs
Compensation cost recognized	9,991,000	2,707,000	655,000
General and administrative expenses
Compensation costs
Compensation cost recognized	$ 3,275,000	$ 3,445,000	$ 4,062,000

Other gains, net (Details) - USD ($) $ in Thousands	12 Months Ended
Other gains, net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Income And Expenses [Abstract]
Net exchange (loss)/gain	$ 622	$ (421)	$ (410)
Forfeiture of advances from customers (Note (i))	1,654	1,245	1,369
Government subsidy income (Note (ii))	3,281	3,063	1,394
ADR reimbursement from depositary bank	410	251	224
Fair value gains/(losses) on short-term investments	(316)	1,404	107
Impairment on long-term investments	(4,038)
Fair value change in contingent consideration payable	418	(81)
Others	172	391	308
Total	$ 2,203	$ 5,852	$ 2,992

Other gains, net (Parenthetical) (Details)	12 Months Ended
Other gains, net (Parenthetical) (Details)	Dec. 31, 2021
Other Income And Expenses [Abstract]
Percentage of VAT super-credit subsidy from PRC government	10.00%

Income tax - Additional Information (Details) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021 HKD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019	Dec. 31, 2021 USD ($)
Income tax
Deferred tax liabilities, undistributed earnings from subsidiaries		$ 542		$ 356
Minimum [Member]
Income tax
Entitled percentage of research and development expense claimed as tax deductible expense	150.00%
Maximum
Income tax
Entitled percentage of research and development expense claimed as tax deductible expense	175.00%
Hong Kong
Income tax
Assessable profits for tax rate 8.25%	$ 2
Tax rate for assessable profits more than 2000000	16.50%
Tax rate for assessable profits less than 2000000	8.25%
Statutory income tax rate	16.50%
PRC
Income tax
Statutory income tax rate	25.00%	25.00%	25.00%
Preferential enterprise tax rate	15.00%	15.00%	15.00%
Statutory withholding tax rate	10.00%	10.00%	10.00%
Tax arrangements between the PRC government and the government of other jurisdiction	5.00%	5.00%	5.00%
Undistributed earnings from subsidiaries		$ 1,468		1,324
Estimated foreign withholding taxes that would be due if these earnings were remitted as dividends		73		66
Deferred tax liabilities, undistributed earnings from subsidiaries		$ 2,169		$ 1,422

Income tax - Disclosure of current and deferred portions of income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Current income tax expense	$ 3,445	$ 2,784	$ 1,130
Deferred tax benefits	(905)	(1,151)	(1,083)
Income tax expense	$ 2,540	$ 1,633	$ 47

- Definition

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

+ References + Details

Income tax - Disclosure of deferred tax asset and deferred tax liability balances (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets
Tax losses carried forward (Note (i))	$ 4,410	$ 4,365
Share-based payments	931	759
Temporary difference on deferred income	254	194
Less: Valuation allowance (Note (ii))	(4,410)	(4,365)	$ (5,923)	$ (6,385)
Deferred tax assets net	1,185	953
Deferred tax liabilities
Acquired intangible assets	(12,993)	(13,585)
Outside basis difference (Note (iii))	(356)	(542)
Others	(29)	(29)
Deferred tax liabilities net	$ (13,378)	$ (14,156)

Income tax - Disclosure of operating tax loss carry forwards expiring years (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Income tax
Operating loss carry forwards	$ 21,694
Underpaid tax claw back period	5 years
2022
Income tax
Operating loss carry forwards	$ 4,212
2023
Income tax
Operating loss carry forwards	432
2024
Income tax
Operating loss carry forwards	871
2025
Income tax
Operating loss carry forwards	5,740
2026
Income tax
Operating loss carry forwards	9,128
Tax Loss With No Expiry
Income tax
Operating loss carry forwards	$ 1,311

Income tax - Disclosure of movement of valuation allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Beginning balance	$ 4,365	$ 5,923	$ 6,385
Additions	2,768	1,144	801
Reversals	(2,723)	(2,702)	(1,263)
Ending balance	$ 4,410	$ 4,365	$ 5,923

Income tax - Disclosure of reconciliation between expense of income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Tax benefit calculated at statutory tax rates	$ (3,488)	$ (3,291)	$ (2,599)
Effect of differences between statutory tax rates and foreign effective tax rates	1,746	4,513	1,999
Non-taxable other income	(348)	(627)	(235)
Non-deductible expenses	4,783	3,202	1,338
Valuation allowance	44	(1,558)	(462)
Outside basis difference	(186)	(400)	(62)
Additional deduction of research and development expenses	(125)	(270)
Others	114	64	68
Income tax expense	$ 2,540	$ 1,633	$ 47

Basic and diluted net loss per share - Summary of basic and diluted net loss per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net Income (Loss) Attributable to Parent	$ (13,631)	$ (12,618)	$ (9,603)
Numerator for basic and diluted net loss per share	$ (13,631)	$ (12,618)	$ (9,603)
Denominator:
Basic net loss per share attributable to iClick Interactive Asia Group Limited	$ (0.28)	$ (0.32)	$ (0.34)
Diluted net loss per share attributable to iClick Interactive Asia Group Limited	$ (0.28)	$ (0.32)	$ (0.34)
Denominator for basic and diluted net loss per share - weighted average shares outstanding	48,187,235	39,368,436	28,583,548

- Definition

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

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Basic and diluted net loss per share - Computation of diluted net loss per ordinary share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee Stock Option
Basic and diluted net loss per share
Ordinary shares equivalent excluded from computation of diluted net loss per ordinary share	2,613	2,998	505
Convertible notes
Basic and diluted net loss per share
Ordinary shares equivalent excluded from computation of diluted net loss per ordinary share			6,909

Segments (Details) - segment	12 Months Ended
Segments (Details) - segment	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting [Abstract]
Number of operating segments	2	2	2

Segments - Summary of Group's Breakdown of Net Revenues by Type of Good or Service and Operating Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment
Net revenues	$ 307,702	$ 254,745	$ 199,408
Cost of revenues	(218,549)	(181,482)	(142,703)
Gross profit	89,153	73,263	56,705
Marketing Solutions
Segment
Net revenues	242,610	225,852	188,972
Gross profit	47,698	52,935	48,996
Marketing Solutions \| Sales agent
Segment
Net revenues	4,195	5,834	6,563
Gross profit	4,195	5,834	6,563
Marketing Solutions \| Cost-plus
Segment
Net revenues	26,062	26,738	17,146
Gross profit	26,062	26,738	17,146
Marketing Solutions \| Specified actions
Segment
Net revenues	212,353	193,280	165,263
Cost of revenues	(194,912)	(172,917)	(139,976)
Gross profit	17,441	20,363	25,287
Enterprise Solutions \| SaaS Products and Services
Segment
Net revenues	65,092	28,893	10,436
Cost of revenues	(23,637)	(8,565)	(2,727)
Gross profit	$ 41,455	$ 20,328	$ 7,709

Segments - Summary of revenue generated for the respective countries (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment
Net revenues	$ 307,702	$ 254,745	$ 199,408
PRC
Segment
Net revenues	254,874	214,444	175,970
Hong Kong
Segment
Net revenues	52,599	40,197	22,567
Others
Segment
Net revenues	$ 229	$ 104	$ 871

- Definition

+ References

+ Details

Segments - Summary of long-lived assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Segment
Long-lived assets	$ 1,931	$ 1,113
PRC
Segment
Long-lived assets	1,230	671
Hong Kong
Segment
Long-lived assets	$ 701	$ 442

Commitments and contingencies - Schedule of Capital Expenditures Contracted (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Contracted but not provided for Leasehold improvements	$ 151

Subsequent event (Details) $ in Thousands		1 Months Ended	12 Months Ended
Subsequent event (Details) $ in Thousands	Sep. 08, 2020 shares	Mar. 31, 2022 CNY (¥) shares	Dec. 31, 2020 USD ($)
Subsequent Event [Line Items]
Payment for consideration received \| $			$ 7,003
American Depository Shares
Subsequent Event [Line Items]
Shares issued and sold (in shares)	6,877,214
Changyi (Shanghai) Information Technology Ltd. ("Changyi") \| Subsequent Event
Subsequent Event [Line Items]
Payment for consideration received \| ¥		¥ 6,000,000
Changyi (Shanghai) Information Technology Ltd. ("Changyi") \| American Depository Shares \| Subsequent Event
Subsequent Event [Line Items]
Shares issued and sold (in shares)		3,091,327

Restricted net assets - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Restricted Assets [Abstract]
Percentage of net after-tax income of Group's subsidiary and VIE required to be annually appropriated to the statutory general reserve fund prior to payment of any dividends	10.00%	10.00%	10.00%
Limit of statutory reserve fund as a percentage of registered capital, after which allocations to statutory reserve fund are no longer required	50.00%	50.00%	50.00%
Restricted net assets	$ 69,749	$ 68,233

ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - Additional information (Details)	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Minimum percentage requirement	25.00%

ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - CONDENSED BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 41,443	$ 52,232	$ 36,854
Time deposits	11,128	89
Restricted cash	36,146	42,145	23,852
Other current assets	24,957	14,138
Total current assets	351,266	321,176
Non-current assets
Deferred tax assets	1,185	953
Other long-term investments	12,114	8,651
Investment in an equity investee	354	460	$ 158
Total non-current assets	156,468	148,939
Total assets	507,734	470,115
Current liability
Accrued liabilities and other current liabilities	29,735	29,331
Total current liabilities	200,845	162,847
Non-current liability
Other liabilities	459	4,896
Total non-current liabilities	15,300	28,180
Total liabilities	216,145	191,027
Commitments and contingencies
Equity
Treasury shares	(20,908)	(10,341)
Total iClick Interactive Asia Group Limited shareholders’ equity	284,352	272,102
Total liabilities and equity	507,734	470,115
Parent Company \| Reportable legal entities
Current assets
Cash and cash equivalents	789	402
Time deposits		46
Restricted cash	3,657	5,266
Other current assets	549	1,095
Total current assets	4,995	6,809
Non-current assets
Deferred tax assets	254	194
Investments in subsidiaries, VIE and VIE’s subsidiaries *	285,824	278,874
Other long-term investments	510	1,522
Investment in an equity investee	354	460
Total non-current assets	286,942	281,050
Total assets	291,937	287,859
Current liability
Accrued liabilities and other current liabilities	7,126	7,627
Total current liabilities	7,126	7,627
Non-current liability
Other liabilities	459	8,130
Total non-current liabilities	459	8,130
Total liabilities	7,585	15,757
Commitments and contingencies
Equity
Ordinary shares	48	46
Treasury shares	(20,908)	(10,341)
Other shareholders’ equity	305,212	282,397
Total iClick Interactive Asia Group Limited shareholders’ equity	284,352	272,102
Total liabilities and equity	$ 291,937	$ 287,859

ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - CONDENSED BALANCE SHEETS (Parenthetical) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Condensed Balance Sheet Statements Captions [Line Items]
Investments in subsidiaries	$ 276	$ 218
Parent Company \| Reportable legal entities
Condensed Balance Sheet Statements Captions [Line Items]
Investments in subsidiaries		$ 162,486

- Definition

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

+ References

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+ Details

ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - CONDENSED STATEMENTS OF COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating expenses
General and administrative expenses	$ (39,643)	$ (31,648)	$ (20,304)
Total operating expenses	(102,042)	(75,025)	(68,846)
Operating loss	(12,889)	(1,762)	(12,141)
Other gains, net	2,203	5,852	2,992
Fair value losses on derivative liabilities		(11,466)
Fair value gains/(losses) on convertible notes		(4,433)	133
Loss before share of loss from an equity investee and income tax expense	(13,951)	(13,162)	(10,394)
Share of loss from an equity investee	(107)	(111)	(408)
Income tax expense	(2,540)	(1,633)	(47)
Net loss	(16,598)	(14,906)	(10,849)
Other comprehensive (loss)/income:
Foreign currency translation adjustment, net of tax	3,484	5,274	(1,700)
Comprehensive loss attributable to iClick Interactive Asia Group Limited	(10,291)	(7,617)	(11,215)
Parent Company \| Reportable legal entities
Operating expenses
General and administrative expenses	(17,574)	(13,598)	(12,064)
Total operating expenses	(17,574)	(13,598)	(12,064)
Operating loss	(17,574)	(13,598)	(12,064)
Other gains, net	(242)	(409)	285
Fair value losses on derivative liabilities		(11,466)
Fair value gains/(losses) on convertible notes		(4,433)	133
Share of profits from subsidiaries, VIE and VIE’ subsidiaries	4,406	17,477	2,519
Loss before share of loss from an equity investee and income tax expense	(13,410)	(12,429)	(9,127)
Share of loss from an equity investee	(107)	(111)	(408)
Income tax expense	(114)	(78)	(68)
Net loss	(13,631)	(12,618)	(9,603)
Net loss attributable to iClick Interactive Asia Group Limited’s ordinary shareholders	(13,631)	(12,618)	(9,603)
Other comprehensive (loss)/income:
Foreign currency translation adjustment, net of tax	3,340	5,001	(1,612)
Comprehensive loss attributable to iClick Interactive Asia Group Limited	$ (10,291)	$ (7,617)	$ (11,215)

ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - CONDENSED STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net cash used in operating activities	$ (19,673)	$ (19,633)	$ (30,294)
Cash flows from investing activities
Purchase of other long-term investments	(4,108)	(7,129)	(1,000)
Investment in an equity investee		(412)	(566)
(Purchase)/redemption of time deposits	(11,039)	321	(410)
Net cash provided by/(used in) investing activities	(22,390)	(27,693)	6,762
Cash flows from financing activities
Proceeds from exercise of share options	661	1,305	315
Proceeds from issuance of convertible notes, net of transaction expenses		19,184	30,000
Redemption of convertible notes		(15,196)	(11,265)
Repurchase of ordinary shares	(10,687)	(5,677)	(4,414)
Purchase of interests in subsidiaries from non-controlling interests		(7,003)
Net proceeds from issuance of ordinary shares upon subscription from Baozun Inc.	17,010
Net cash provided by financing activities	24,743	79,983	44,804
Net increase/(decrease) in cash and cash equivalents and restricted cash	(17,320)	32,657	21,272
Parent Company \| Reportable legal entities
Cash flows from operating activities
Net cash used in operating activities	(3,217)	(3,461)	(4,252)
Cash flows from investing activities
Purchase of other long-term investments		(19)	(1,000)
Investment in an equity investee		(412)	(566)
(Purchase)/redemption of time deposits	46	255	(301)
Capital contribution to subsidiaries	(53)	(77,655)	(19,129)
Refund from subsidiaries of capital contribution			33,127
Acquisition of subsidiaries	(4,982)	(959)
Net cash provided by/(used in) investing activities	(4,989)	(78,790)	12,131
Cash flows from financing activities
Proceeds from issuance of shares upon private placements and follow on offering		71,917
Proceeds from exercise of share options	661	1,305	315
Proceeds from issuance of convertible notes, net of transaction expenses		19,184	28,742
Redemption of convertible notes		(15,196)	(11,265)
Repurchase of ordinary shares	(10,687)	(5,677)	(4,414)
Purchase of interests in subsidiaries from non-controlling interests		(7,003)
Net proceeds from issuance of ordinary shares upon subscription from Baozun Inc.	17,010
Net cash provided by financing activities	6,984	64,530	13,378
Net increase/(decrease) in cash and cash equivalents and restricted cash	$ (1,222)	$ (17,721)	$ 21,257

ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - CONDENSED STATEMENTS OF CASH FLOWS (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Revision to adjustment amount in net cash used in operating activities and net cash provided by/used in investing activities	$ 77,655	$ 13,998