v3.25.1
Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting

(18) Segment Reporting

 

Since March 10, 2010, Baoding Shengde started its operations and thereafter the Company manages its operations through three business operating segments: Dongfang Paper and Tengsheng Paper, which produces offset printing paper, corrugating medium paper and tissue paper, and Baoding Shengde, which produces face masks and digital photo paper. They are managed separately because each business requires different technology and marketing strategies.

 

The Company evaluates performance of its operating segments based on net income. Administrative functions such as finance, treasury, and information systems are centralized. However, where applicable, portions of the administrative function expenses are allocated among the operating segments based on gross revenue generated. The operating segments do share facilities in Xushui County, Baoding City, Hebei Province, China. All sales were sold to customers located in the PRC.

Summarized financial information for the three reportable segments is as follows:

 

   Three Months Ended 
   March 31, 2025 
   Dongfang   Tengsheng   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Paper   Shengde   to Segments   Inter-segment   consolidated 
                         
Revenues  $10,897,266   $
-
   $
      -
   $
-
   $
             -
   $10,897,266 
Gross profit   84,086    
-
    
-
    
-
    
-
    84,086 
Depreciation and amortization   1,361,449    2,185,949    
-
    
-
    
-
    3,547,398 
Interest income   1,464    259    20    1    
-
    1,744 
Interest expense   73,694    
-
    55,546    3,607    
-
    132,847 
Income tax expense (benefit)   
-
    
-
    
-
    
-
    
-
    
-
 
Net loss   (1,048,107)   (2,195,870)   (65,309)   (194,499)   
-
    (3,503,785)

 

   Three Months Ended 
   March 31, 2024 
   Dongfang   Tengsheng   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Paper   Shengde   to Segments   Inter-segment   consolidated 
                         
Revenues  $6,826,799   $37,042   $
-
   $
-
   $
          -
   $6,863,841 
Gross profit   362,335    36,778    
-
    
-
    
-
    399,113 
Depreciation and amortization   989,272    2,100,541    391,975    
-
    
-
    3,481,788 
Interest income   1,462    536    173    12    
-
    2,183 
Interest expense   89,507    44,854    72,245    3,684    
-
    210,290 
Income tax expense   
-
    
-
    
-
    36,793    
-
    36,793 
Net loss   (1,134,241)   (2,122,757)   (54,512)   (435,026)   
-
    (3,746,536)

 

   As of March 31, 2025 
   Dongfang   Tengsheng   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Paper   Shengde   to Segments   Inter-segment   consolidated 
                         
Total assets  $54,288,217    114,378,010    5,575,644    962,259    
            -
    175,204,130 

 

   As of December 31, 2024 
   Dongfang   Tengsheng   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Paper   Shengde   to Segments   Inter-segment   consolidated 
                         
Total assets  $54,180,471    116,390,854    6,020,713    954,748    
             -
    177,546,786