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Segment Information
 6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
Segment Information [Abstract]    
SEGMENT INFORMATION

4. SEGMENT INFORMATION

 

The CODM reviews financial information of operating segments based on internal management report when making decisions about allocating resources and assessing the performance of the Group. As a result of the assessment made by CODM, the Group has two reportable segments for continuing operations, including automotive after-sales service business and insurance intermediation service business. The Group’s CODM evaluates performance based on the operating segment’s revenue and their operating results. The revenue and operating results by segments were as follows:

 

   For the Six Months Ended June 30, 2023 
   Automotive
after-sales
service		   Insurance
intermediation
service		   Others   Consolidated 
Revenues from external customers  $98,813   $47,710   $12,855   $159,378 
Depreciation and amortization  $(1,884)  $(1,278)  $(28)  $(3,190)
Segment income (loss) before tax  $6,332   $(938)  $(3,408)  $1,986 

 

   For the Six Months Ended June 30, 2022 
   Automotive
after-sales
service		   Insurance
intermediation
service		   Others   Consolidated 
Revenues from external customers  $89,851   $29,346   $5,531   $124,728 
Depreciation and amortization  $(1,633)  $(407)  $(37)  $(2,077)
Segment income (loss) before tax  $8,466   $(819)  $(34)  $7,613 

 

The total assets from continuing operations by segments as of December 31, 2022 and June 30, 2023 were as follows:

 

   December 31,   June 30, 
   2022   2023 
Segment assets   
 
    
 
 
Automotive after-sales service  $113,992   $136,841 
Insurance intermediation service   68,123    66,893 
Others   9,853    20,285 
Total segment assets from continuing operations  $191,968   $224,019 

 

As the reportable segment for financial leasing qualified for discontinued operation, it is not required to disclose the information in segment reporting required by ASC 280.
4. SEGMENT INFORMATION

  

The CODM reviews financial information of operating segments based on internal management report when making decisions about allocating resources and assessing the performance of the Group. As a result of the assessment made by CODM, the Group has two reportable segments for continuing operations, including automotive after-sales service business and insurance intermediation service business. The Group’s CODM evaluates performance based on the operating segment’s revenue and their operating results. The revenue and operating results by segments were as follows:

 

   Year ended December 31, 2020 
   Automotive after-sales service  

Insurance

intermediation

service

   Others   Consolidated 
Revenues from external customers  $154,238   $84,161   $526   $238,925 
Depreciation and amortization  $(1,090)  $(449)  $(74)  $(1,613)
Segment income (loss) before tax  $12,864   $(3,616)  $(874)  $8,374 

 

   Year ended December 31, 2021 
   Automotive after-sales service  

Insurance

intermediation

service

   Others   Consolidated 
Revenues from external customers  $187,880   $56,766   $4,589   $249,235 
Depreciation and amortization  $(3,404)  $(578)  $(73)  $(4,055)
Segment income (loss) before tax  $15,891   $(4,256)  $(1,105)  $10,530 

 

   Year ended December 31, 2022 
   Automotive after-sales service  

Insurance

intermediation

service

   Others   Consolidated 
Revenues from external customers  $199,294   $67,640   $15,479   $282,413 
Depreciation and amortization  $(3,452)  $(1,558)  $(68)  $(5,078)
Segment income (loss) before tax  $(8,109)  $(2,212)  $(353)  $(10,674)

 

The total assets from continuing operations by segments as of December 31, 2021 and 2022 were as follows:

 

   December 31, 
   2021   2022 
Segment assets 
 
  
 
 
Automotive after-sales service  $153,723   $113,992 
Insurance intermediation service   49,729    68,123 
Others   1,943    9,853 
Total segment assets from continuing operations  $205,395   $191,968 

 

As the reportable segment for financial leasing qualified for discontinued operation, it is not required to disclose the information in segment reporting required by ASC 280.