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Stock-based compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of restricted share units

The following is a summary of the restricted share granted:

​

​	​	​
Restricted shares grants	​	Shares
Non-vested as of January 1, 2023	​	296,474
Granted	​	113,984
Vested	​	(66,111)
Canceled	​	(87,611)
Non-vested as of December 31, 2023	​	256,736
Granted	​	426,687
Vested	​	(69,938)
Canceled	​	—
Non-vested as of June 30, 2024	​	613,485

​

​

The following is a summary of the status of restricted shares as of June 30, 2024:

​

​	​	​	​	​	​
​	Outstanding Restricted Share
​	​	​	​	​	Average Remaining
​	Fair Value per share	​	Number	​	Amortization Period (Years)
$	3.90	​	61,250	​	0.58
$	2.52	​	2,430	​	0.75
$	2.20	​	16,363	​	0.50
$	2.08	​	96,635	​	1.75
$	2.08	​	10,120	​	1.75
$	1.50	​	413,354	​	2.75
$	1.50	​	13,333	​	0.50
​	​	​	613,485	​	​

Schedule of share option activities

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​		Weighted		Weighted		​
​	​	​	​	Weighted	​	Average	​	Average	​	​
​	​	​	​	Average	​	Grant date	​	Remaining	​	Average
​	​	Number of	​	Exercise	​	Fair	​	Contractual	​	Intrinsic
​	​	Options	​	Price	​	Value	​	Term	​	value
​	​	​	​	USD	​	USD	​	Years	​	USD
Share options outstanding at December 31, 2023		380,745	​	2.54	​	1.19		9.35		—
Granted		697,629		1.46		0.82		10.00		—
Forfeited	​	—	​	—	​	—	​	—	​	—
Exercised	​	—	​	—	​	—	​	—	​	—
Expired	​	—	​	—	​	—	​	—	​	—
Share options outstanding at June 30, 2024		1,078,374	​	1.84	​	0.95		9.06	​	—
Vested and exercisable at June 30, 2024		272,597		2.55		1.20		7.79		—

Schedule of assumptions used to value options granted

​

​	​	​	​	​	​	​	​	​	​	​
​	​	April 2024		​	March 2024			March 2023
​	​	​		​	​		​	​		​
Risk-free interest rate		​	4.54	%	​	4.21	%	​	3.65	%
Expected volatility range		​	55.32	%	​	55.11	%	​	63.36	%
Fair market value per ordinary share as at grant dates	​	$	1.32	​	$	1.50	​	$	2.08	​

Schedule of share-based compensation expense

​

​	​	​	​	​	​
​	​	For the Six Months Ended
​	June 30,
​		2024	​		2023
​	​	USD	​	​	USD
Selling and distribution expenses	$	73,916	​	$	62,497
General and administrative expenses		254,174	​		210,059
Total share-based compensation expenses	$	328,090	​	$	272,556

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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