Concentration Risk

12 Months Ended

Dec. 31, 2022

Risks and Uncertainties [Abstract]

Concentration Risk

23. Concentration Risk

A substantial percentage of the Group’s net revenue comes from sales made to a small number of customers to whom sales are typically made on an open account basis.

There was no customer of which the revenue accounted for 10% or more of total net revenue for the years ended December 31, 2022 and 2021.

As of December 31, 2022, there was one customer of which the accounts receivable accounted for 18% of total accounts receivable.

As of December 31, 2021, there was one customer of which the accounts receivable accounted for 21% of total accounts receivable.

As of December 31, 2022, there were two suppliers of which the accounts payable accounted for 14% and 11% of total accounts payable, respectively. As of December 31, 2021, there was no supplier of which the accounts payable accounted for 10% or more of total accounts payable.