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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
INCOME TAXES |
Schedule of income tax expenses | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ |  | 2020 |  | 2021 |  | 2022
Current tax expenses | ​ | $ | 29,436 | ​ | $ | 156,894 | ​ | $ | 500,743
Deferred tax (benefit) expenses | ​ |  | (1,254) | ​ |  | 13,207 | ​ |  | 76,504
Total | ​ | $ | 28,182 | ​ | $ | 170,101 | ​ | $ | 577,247
​
Schedule of deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2021 |  | 2022
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Long-lived assets depreciation | ​ | $ | 1,546 | ​ | $ | 2,068
Deferred government subsidies | ​ | ​ | 68 | ​ | ​ | —
Share-based compensation | ​ | ​ | — | ​ | ​ | 1,781
Donation expenses | ​ | ​ | — | ​ | ​ | 66
Net operating loss carried forward | ​ | ​ | 816 | ​ | ​ | 1,690
Sub-total | ​ | $ | 2,430 | ​ | $ | 5,605
Valuation Allowance | ​ | ​ | (816) | ​ | ​ | (1,060)
Total deferred tax assets | ​ | $ | 1,614 | ​ | $ | 4,545
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: | ​ |  | ​ | ​ |  | ​
Long-lived assets depreciation | ​ | $ | (3,258) | ​ | $ | (2,736)
Difference in basis of buildings | ​ | ​ | (621) | ​ | ​ | (595)
Dividend withholding tax | ​ | ​ | (14,461) | ​ | ​ | (79,945)
Total deferred tax liabilities | ​ | $ | (18,340) | ​ | $ | (83,276)
Deferred tax assets, net | ​ | ​ | — | ​ | ​ | 1,809
Deferred tax liabilities, net | ​ | $ | (16,726) | ​ | $ | (80,540)
​
Schedule of changes of valuation allowance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ |  | 2020 |  | 2021 |  | 2022
Beginning balance | ​ | $ | 729 | ​ | $ | 709 | ​ | ​ | 816
Addition (Reversal) | ​ |  | (65) | ​ | ​ | 87 | ​ | ​ | 316
Foreign exchange effect | ​ |  | 45 | ​ | ​ | 20 | ​ | ​ | (72)
Ending Balance | ​ | $ | 709 | ​ | $ | 816 | ​ | ​ | 1,060
​
Schedule of effective income tax rate reconciliation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, |
​ |  | 2020 |  | 2021 |  | 2022 |
PRC Enterprise Income Tax |  | 25 | % | 25 | % | 25 | %
Preferential income tax rate of a subsidiary |  | (11) | % | (10) | % | (10) | %
R&D super deduction | ​ | (1) | % | — | % | — | %
Different tax rate in other jurisdictions |  | 4 | % | — | % | 1 | %
Dividend withholding tax |  | — | % | 1 | % | 3 | %
Effective tax rate |  | 17 | % | 16 | % | 19 | %
​

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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