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FAIR VALUE MEASUREMENTS | 12 Months Ended
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Dec. 31, 2022
FAIR VALUE MEASUREMENTS |
FAIR VALUE MEASUREMENTS | 7. FAIR VALUE MEASUREMENTS Recurring Fair Value Measurements As of December 31, 2021 and 2022, short-term investments are measured and recorded at fair value initially and on a recurring basis in periods subsequent to their initial recognition and are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement As of December 31, 2022 | ​
​ | ​ | ​ | Quoted Prices in | ​ |  | Significant | ​ |  | Significant | ​ |  | ​ |
​ | ​ | ​ | Active Market for | ​ | ​ | Other | ​ | ​ | Unobservable | ​ | ​ | ​ | ​
​ | ​ | ​ | Identical Assets | ​ | ​ | Observable Inputs | ​ | ​ | Inputs | ​ | ​ | ​ | ​
​ |  | ​ | (Level 1) |  | ​ | (Level 2) |  | ​ | (Level 3) |  | ​ | Total | ​
Short-term investments |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
- Wealth management products | ​ | $ | — |  | $ | 13,927 | ​ | $ | — | ​ | $ | 13,927 | ​
Total | ​ | $ | — | ​ | $ | 13,927 | ​ | $ | — | ​ | $ | 13,927 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurement As of December 31, 2021
​ | ​ | Quoted Prices in |  | Significant |  | Significant |  | ​ | ​
​ | ​ | Active Market for | ​ | Other | ​ | Unobservable | ​ | ​ | ​
​ | ​ | Identical Assets | ​ | Observable Inputs | ​ | Inputs | ​ | ​ | ​
​ | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | Total
Short-term investments |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
- Structured financial products | ​ | $ | — | ​ | $ | 269,946 | ​ | $ | — | ​ | $ | 269,946
- Wealth management products | ​ |  | 10,305 | ​ |  | — | ​ |  | — | ​ |  | 10,305
Total | ​ | $ | 10,305 | ​ | $ | 269,946 | ​ | $ | — | ​ | $ | 280,251
​ The fair value of structured financial products is determined based on the investment principal and historical spot exchange rate. As the significant inputs are observable in active markets over the terms of the instruments the Group holds, the fair value of such financial products is classified within Level 2 measurement. The wealth management products purchased in 2022 are measured at fair value which is based on current redemption price quoted by the selling bank. As such, the fair value of such financial products is classified within Level 2 measurement. Nonrecurring Fair Value Measurements The Group measures long-lived assets at fair value on a nonrecurring basis only if an impairment is recognized in the current period. There is no impairment losses recorded on its long-lived assets for the years ended December 31, 2020, 2021 and 2022.

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- References No definition available. + Details
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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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