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Impairment Loss | 3 Months Ended
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Mar. 31, 2023
Impairment Loss [Abstract] |
IMPAIRMENT LOSS | 20. IMPAIRMENT LOSS The Company recorded nil and $0.25 million of impairment loss in three months ended 2023 and 2022 relating to the short - term investment mainly due to Future Private Equity Fund Management (Hainan) Co., Ltd. invested $2.05 million (RMB13,000,000) to entrust Shanghai Yuli Enterprise Management Consulting Firm to invest in various types of investment portfolios. The Company may still suffer significant impairment loss or downward adjustments of our investments in the future, due to the potential worsening global economic conditions and the recent disruptions to, and volatility in, the continuing low market price of shares caused the Company to recognize a fair-value loss in three months ended March 31, 2022. According to the market value, the Company’s balance of the short - term investment was $1.8 million on March 31, 2022.

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