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Impairment Loss | 12 Months Ended
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Dec. 31, 2021
Disclosure Text Block Supplement [Abstract] |
IMPAIRMENT LOSS | 21. IMPAIRMENT LOSS The Company recorded $0.78 million of impairment loss in fiscal year 2021 related with goodwill mainly arose from acquisition of Nice Talent Asset Management Limited. The Company’s evaluation of goodwill for impairment involves the comparison of the fair value of the reporting unit to its carrying value. The Company uses the discounted cash flow model to estimate fair value, which requires management to make significant estimates and assumptions related to forecasts of future revenue and operating margin. In addition, the discounted cash flow model requires the Company to select an appropriate weighted average cost of capital based on current market conditions as of December 31, 2021. Based upon the assessment, the Company has concluded that goodwill is $15.6 million as of December 31, 2021.

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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
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