XML 43 R25.htm IDEA: XBRL DOCUMENT v3.24.1
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Employee Benefit Plans

17.

Employee Benefit Plans

 

Mainland China Contribution Plan

 

Pursuant to relevant PRC regulations, the Company is required to make contributions to various defined contribution plans organized by municipal and provincial PRC governments. The contribution for each employee is based on a percentage of the employee’s current compensation as required by the local government. The contributions are charged to profit or loss as they become payable in accordance with the rules of the central pension scheme. The total

contributions for such employee benefits were $4.3 million and $3.6 million for the years ended December 31, 2023, and 2022, respectively.

 

Defined-Contribution Savings Plan

 

In the U.S., the Company maintains a defined-contribution savings plan pursuant to Section 401(k) of the Internal Revenue Code of 1986, as amended. The plan is available to employees who meet the minimum age and length of service requirements. The contributions made during the year ended December 31, 2023 were immaterial.