XML 53 R34.htm IDEA: XBRL DOCUMENT v3.24.1.u1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

INCOME TAXES

Schedule of income tax expenses

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2021			2022			2023
Current tax expenses	​	$	156,894	​	$	500,743	​	$	157,701
Deferred tax expenses	​		13,207	​		76,504	​		7,887
Total	​	$	170,101	​	$	577,247	​	$	165,588

Schedule of deferred tax assets and liabilities

​

​	​	​	​	​	​	​
​	​	December 31,
​		2022			2023
Deferred tax assets:	​	​	​	​	​	​
Long-lived assets depreciation	​	$	2,068	​	$	3,540
Inventory write - down	​	​	—	​	​	76
Share-based compensation	​	​	1,781	​	​	—
Donation expenses	​	​	66	​	​	66
Net operating loss carried forward	​	​	1,690	​	​	2,940
Sub-total	​	$	5,605	​	$	6,622
Valuation Allowance	​	​	(1,060)	​	​	(1,238)
Total deferred tax assets	​	$	4,545	​	$	5,384
​	​	​	​	​	​	​
Deferred tax liabilities:	​		​	​		​
Long-lived assets depreciation	​	$	(2,736)	​	$	(2,522)
Difference in basis of buildings	​	​	(595)	​	​	(570)
Dividend withholding tax	​	​	(79,945)	​	​	(9,020)
Total deferred tax liabilities	​	$	(83,276)	​	$	(12,112)
Deferred tax assets, net	​	​	1,809	​	​	3,422
Deferred tax liabilities, net	​	$	(80,540)	​	$	(10,150)

Schedule of changes of valuation allowance

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2021			2022			2023
Beginning balance	​	$	709	​	$	816	​	​	1,060
Addition	​		87	​	​	316	​	​	209
Foreign exchange effect	​		20	​	​	(72)	​	​	(31)
Ending Balance	​	$	816	​	$	1,060	​	​	1,238

Schedule of effective income tax rate reconciliation

​

​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2021		2022		2023
PRC Enterprise Income Tax		25	%	25	%	25	%
Preferential income tax rate of subsidiaries		(10)	%	(10)	%	(11)	%
Different tax rate in other jurisdictions		—	%	1	%	5	%
Dividend withholding tax		1	%	3	%	1	%
Effective tax rate		16	%	19	%	20	%

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration