Financial Performance - For the six months ended June 30, 2024, the company provided inventory write-downs of 0 for the same period in 2023[209]. - As of June 30, 2024, the company reported net operating losses carryforwards of approximately 28,342 and $30,410 for certain subsidiaries with continuous losses as of June 30, 2024, and December 31, 2023, respectively[211]. Risk Management - The company has not been exposed to material risks due to changes in interest rates and has not used any derivative financial instruments to manage interest risk exposure[200]. - The company considers its business in mainland China to have no significant foreign exchange risk due to transactions being settled in RMB[199]. - The allowance for credit losses is based on management's best estimates and may fluctuate based on historical trends and management's assessments[207]. Accounting Practices - The company prepares its financial statements in accordance with U.S. GAAP, which requires management to make significant judgments and estimates[203]. - The company maintains an estimated allowance for credit losses for accounts receivable, with no allowances deemed necessary as of June 30, 2024, and December 31, 2023[206]. Business Operations - The company has not engaged in any research and development activities since inception[201]. - The company is not aware of any trends or uncertainties that are likely to have a material effect on its revenues, net income, profitability, liquidity, or capital resources[202].
Able View (ABLV) - 2024 Q2 - Quarterly Report