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CONCENTRATIONS

12 Months Ended

Dec. 31, 2023

CONCENTRATIONS

CONCENTRATIONS

20. CONCENTRATIONS

Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable, other receivable and other non-current assets. The Group places its cash and cash equivalents and term deposits with financial institutions with high-credit ratings in the U.S. and PRC. The Group conducts credit evaluations of its customers and suppliers, and generally does not require collateral or other security from them. The Group evaluates its collection experience and long outstanding balances to determine the need for an allowance for doubtful accounts.

The Group evaluates its concentrations of the continuing operations are as follows:

No single customer represented 10% or more of the Group’s total revenues for the years ended December 31, 2021, 2022 and 2023.

No single supplier represented 10% or more of the Group’s total costs of sales for the years ended December 31, 2021, 2022 and 2023.

No single debtor accounted for 10% or more of the Group’s consolidated accounts receivable and other non-current assets as of December 31, 2022 and 2023.

​

The debtors who accounted for 10% or more of the Group’s consolidated prepaid and other current assets as follows:

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​	​	​	​	​	​	​	​	​	​	​
​	​	As of December 31,
​	​	2022				​	2023
Debtors		​			%		​		%
Prepaid and other current assets		​								​
Purchaser		$	6,058		98	%	—		​	%

​

X

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 275
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//275/tableOfContent

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X

- References

No definition available.

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