Financial Assets at Amortized Cost

12 Months Ended

Dec. 31, 2023

Financial Assets at Amortized Cost [Abstract]

Financial assets at amortized cost

7. Financial assets at amortized cost

Items	December 31, 2023		December 31, 2022
Current items:
Time deposits	$	27,827,915	$	6,871,187
Non-current items:
Time deposits	$	13,643,000	$	-

a) Amounts recognized in profit or loss in relation to financial assets at amortized cost are listed below:

	Year ended December 31, 2023		Year ended December 31, 2022		Year ended December 31, 2021
Interest income	$	336,472	$	31,604	$	12,810

b) As of December 31, 2023 and 2022, without taking into account any collateral held or other credit enhancements, the maximum exposure to credit risk in respect of the amount that best represents the financial assets at amortized cost held by the Group was $41,470,915 and $6,871,187, respectively.

c) As of December 31, 2023 and 2022, the interest rate of time deposits was 0.00%~5.20% and 0.22%~3.80%, respectively.

d) Information relating to financial assets at amortized cost that were pledged to others as collaterals is provided in Note 39.

e) The Group transacts with a variety of financial institutions all with high credit quality to disperse credit risk, so it expects that the probability of counterparty default is remote.