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Income Tax (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Summary of Income Before Income Taxes | Income before income taxes were generated in the following jurisdictions:
|  | For the Year Ended December 31, |
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | US$ |  |  | US$ |  |  | US$ |
Domestic component |  |  |  |  |  |  |  |  |
UAE |  |  | 63,056,081 |  |  |  | 122,422,324 |  |  |  | 99,688,931 |
Foreign components |  |  |  |  |  |  |  |  |
BVI |  |  | (976 | ) |  |  | (1,227 | ) |  |  | (3,810 | )
Mainland PRC |  |  | (57,038,284 | ) |  |  | (35,920,356 | ) |  |  | (16,736,026 | )
HK S.A.R. |  |  | 65,233 |  |  |  | 286,843 |  |  |  | 593,949 |
Cayman Islands |  |  | (2,007,587 | ) |  |  | (2,152,866 | ) |  |  | (1,497,198 | )
Singapore |  |  | — |  |  |  | (20,447 | ) |  |  | (409,018 | )
Total |  |  | 4,074,467 |  |  |  | 84,614,271 |  |  |  | 81,636,828 |
Summary of Income Tax Assets and Liabilities | Deferred income tax assets and liabilities are as follows:
|  | As of December 31, |
|  | 2021 |  |  | 2022 |
|  | US$ |  |  | US$ |
Deferred tax assets |  |  |  |  |  |
Operating lease liabilities |  |  | 167,083 |  |  |  | 400,766 |
Impairment loss |  |  | — |  |  |  | 179,479 |
Net operating loss carry forwards |  |  | 28,779 |  |  |  | 287,345 |
Total gross deferred tax assets |  |  | 195,862 |  |  |  | 867,590 |
Valuation allowance on deferred tax assets |  |  | (28,779 | ) |  |  | (466,824 | )
Deferred tax assets, net of valuation allowance |  |  | 167,083 |  |  |  | 400,766 |
Deferred tax liabilities |  |  |  |  |  |
Operating lease right-of-use assets |  |  | 167,083 |  |  |  | 400,766 |
Total gross deferred tax liabilities |  |  | 167,083 |  |  |  | 400,766 |
Net deferred tax assets |  |  | — |  |  |  | — |
Summary of Changes in Valuation Allowance | Changes in valuation allowance are as follows:
|  | As of December 31, |
|  | 2021 |  |  | 2022 |
|  | US$ |  |  | US$ |
Balance at the beginning of the year |  |  | 3,334 |  |  |  | 28,779 |
Additions |  |  | 25,445 |  |  |  | 438,045 |
Reversals |  |  | — |  |  |  | — |
Balance at the end of the year |  |  | 28,779 |  |  |  | 466,824 |

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