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RELATED PARTY BALANCES AND TRANSACTIONS

12 Months Ended

Dec. 31, 2022

26. RELATED PARTY BALANCES AND TRANSACTIONS


Name						Relationship with the Group

Ochem Chemical Co., Ltd (“Ochem”)						Controlled by CEO
Ochemate Material Technologies Co., Ltd (“Ochemate”)						Controlled by CEO

(1)Related party transaction


	Year Ended December 31,
	2020		2021		2022
Raw material sold to Ochem	$	167	$	390	$	—

(2)Interest-free loans

MPS received certain interest-free loans from related parties, Ochemate and Ochem, for the years ended December 31, 2020, 2021 and 2022, with accumulative amounts of $18,889, $8,426 and $ nil, respectively.

The outstanding balance for the amount due from Ochem was $85 as of December 31, 2021 and $ nil as of December 31, 2022, respectively.