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SIGNIFICANT RISKS AND UNCERTAINTIES | 12 Months Ended
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Dec. 31, 2020
SIGNIFICANT RISKS AND UNCERTAINTIES |
SIGNIFICANT RISKS AND UNCERTAINTIES | 3. SIGNIFICANT RISKS AND UNCERTAINTIES Foreign currency risk The Renminbi (“RMB”) is not a freely convertible currency. The State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into foreign currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market. Cash of the Company included aggregate amounts of $2,410 and $132 as of December 31, 2019 and 2020, respectively, which were denominated in RMB. Concentration of credit risk Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company places its cash and restricted cash with financial institutions with high-credit ratings and quality. There were no customers that accounted for 10% or more of total revenues for the years ended December 31, 2018, 2019 and 2020. No customers accounted for 10% or more of the balance of accounts receivable as of December 31, 2019 and 2020. ​

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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