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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of reconciliations of the statutory income tax rate |
|  | For the Years Ended December 31 |
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | (Restated) |  |  |  |  |  |  |
Net income before provision for income taxes |  | $ | 50,632 |  |  | $ | 36,328 |  |  | $ | 26,853 |
PRC statutory tax rate |  |  | 25 | % |  |  | 25 | % |  |  | 25 | %
Income tax at statutory tax rate |  |  | 12,658 |  |  |  | 9,082 |  |  |  | 6,713 |
Expenses not deductible for tax purpose |  |  | 297 |  |  |  | 96 |  |  |  | 11 |
Changes in valuation allowance |  |  | 6 |  |  |  | - |  |  |  | 567 |
Effect of warrant liability revaluation |  |  | (4,928 | ) |  |  | (203 | ) |  |  | 16 |
Effect of preferential tax rates granted to the PRC entities (a) |  |  | (6,360 | ) |  |  | (7,999 | ) |  |  | (6,894 | )
Income tax expense |  | $ | 1,673 |  |  | $ | 976 |  |  | $ | 413 |
Effective income tax rate |  |  | 3.30 | % |  |  | 2.69 | % |  |  | 1.54 | %
(a) | The Company’s subsidiary Horgos, Horgos Glory Prosperity, Horgos Glary Wisdom were eligible to be exempted from income tax from 2017 to 2020, and enjoy a preferential income tax rate of 15% that are expected to last from 2021 to 2025. Horgos Technology is eligible to be exempted from income tax from 2020 to 2024. Beijing Leshare was recognized as a high-tech enterprise and received a preferential income tax rate of 15%. For the years ended December 31, 2020, 2021 and 2022, the tax saving as the result of the favorable tax rate amounted to $6,360, $7,999 and $6,894, respectively, and per share effect of the favorable tax rate were $0.12, $0.12 and $0.10.
Schedule of deferred tax asset |
|  | December 31, 2021 |  |  | December 31, 2022 |
Deferred tax assets: |  |  |  |  |  |
Allowance for doubtful accounts |  | $ | 56 |  |  | $ | 103 |
Total deferred tax assets, net |  | $ | 56 |  |  | $ | 103 |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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