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Short - Term Investments
12 Months Ended
Dec. 31, 2023
Short - Term Investments [Abstract]  
SHORT - TERM INVESTMENTS

7. SHORT - TERM INVESTMENTS  

 

As of December 31, 2023 and 2022, the balance of short - term investments was $0.96 million and $0.99 million. On September 6, 2021, Future Private Equity Fund Management (Hainan) Co., Ltd. invested $1.87 million (RMB13,000,000) to entrust Shanghai Yuli Enterprise Management Consulting Firm to invest in various types of investment portfolios. According to the market value, the Company’s balance of the short - term investments was $ 0.98 and $0.99 million on December 31, 2023 and 2022. Due to fluctuations of the quoted shares included in its investment portfolios, the Company recognized an impairment to the investment portfolio of $12,633 and $0.91 million for the years ended December 31, 2023 and 2022.