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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Income Tax Expenses

Income tax expenses comprise:

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2018			2019			2020
Current tax expenses	​	$	11,868	​	$	4,941	​	$	29,436
Deferred tax (benefit) expenses	​		(151)	​		4,682	​		(1,254)
Total	​	$	11,717	​	$	9,623	​	$	28,182

Schedule of Changes of Valuation Allowance

The changes of valuation allowance are as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2018			2019			2020
Beginning balance	​	$	41,316	​	$	27,062	​	$	24,059
Reversal	​		(12,516)	​		(2,698)	​		(626)
Foreign exchange effect	​		(1,738)	​		(305)	​		1,564
Ending Balance	​	$	27,062	​	$	24,059	​	$	24,997

Schedule of Effective Income Tax Rate Reconciliation

The effective income tax rate from continuing operation is different from the expected PRC statutory rate as a result of the following items:

​

​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2018		2019		2020
PRC Enterprise Income Tax		25	%	25	%	25	%
Preferential income tax rate of a subsidiary		(11)	%	(14)	%	(11)	%
Effect of different reversal rate	​	—	​	5	%	—	​
Additional tax deductions		(3)	%	(3)	%	(1)	%
Different tax rate in other jurisdictions		5	%	12	%	4	%
Effective tax rate		16	%	25	%	17	%

Continuing Operations

Schedule of Deferred Tax Assets and Liabilities

The principal components of deferred income tax assets and liabilities from continuing operations are as follows:

​

​	​	​	​	​	​	​
​	​	December 31,
​		2019			2020
Deferred tax assets:	​	​	​	​	​	​
Long-lived assets depreciation	​	$	1,352	​	$	1,665
Deferred government subsidy	​	​	—	​	​	60
Net operating loss carried forward	​	​	729	​	​	709
Sub-total	​	$	2,081	​	$	2,434
Valuation Allowance	​	​	(729)	​	​	(709)
Total deferred tax assets	​	$	1,352	​	$	1,725
​	​	​	​	​	​	​
Deferred tax liabilities:	​		​	​		​
Long-lived assets depreciation	​	$	(5,227)	​	$	(4,540)
Difference in basis of buildings	​	​	(1,141)	​	​	(646)
Total deferred tax liabilities	​	$	(6,368)	​	$	(5,186)
Deferred tax liabilities, net	​	$	(6,368)	​	$	(3,461)

Discontinued Operations

Schedule of Deferred Tax Assets and Liabilities

The principal components of deferred income tax assets and liabilities from discontinued operations are as follows:

​

​	​	​	​	​	​	​
​	​	December 31,
​		2019			2020
Deferred tax assets:		​			​
Net operating loss carried forward	​	$	17,881	​	$	23,079
Government grants related to assets	​		99	​		—
Long-lived assets impairment & depreciation	​		4,284	​		72
Others	​		1,066	​		1,137
Sub-total	​		23,330	​		24,288
Valuation allowance	​		(23,330)	​		(24,288)
Total deferred tax assets	​	$	—	​	$	—

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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