Note 15 - Employee Defined Contribution Plan |
6 Months Ended | |||
|---|---|---|---|---|
Jun. 30, 2026 | ||||
| Notes to Financial Statements | ||||
| Retirement Benefits [Text Block] |
Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the PRC subsidiaries of the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The employee benefits were expensed as incurred. The Company has no legal obligation for the benefits beyond the contributions made. The total amounts for such employee benefits were approximately US$0.02 million and US$0.03 million for the six months ended June 30, 2026 and 2025, respectively. The total amounts for such employee benefits were approximately US$0.01 million and US$0.01 million for the three months ended June 30, 2026 and 2025, respectively.
For our Hong Kong employees, the Company also evaluates long service payments to be made by the Company to its employees upon the termination of services as a defined benefit plan under post-employment benefits. The cost of providing benefits is measured using projected unit credit method with actuarial valuations to determine its present value and service cost. When the calculation results in a benefit to the Company, the recognized assets limited to lower of the present value of economic benefits available in the form of any future refunds from the plan or reductions in future contributions to the plan and the asset ceiling. The net defined benefit liabilities recognized in the statement of financial position represent the present value of the obligation under defined benefit plan minus the fair value of plan assets. The remeasurement of the net defined benefit liabilities during a period are recognized as cost of defined benefit plan during the period. For the six months ended June 30, 2026, the Company did not recognize long service payments as the amount was considered immaterial. |