v3.25.2
Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 16 — SEGMENT REPORTING

 

In accordance with ASC 280, Segment Reporting, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (the “CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s CODM for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the CODM, reviews operation results by locations. Based on management’s assessment, the Company has determined that it has two operating segments, China and the United States and others.

 

The following table presents the segment information for the six months ended June 30, 2025 and 2024, respectively:

 

   For the Six Months Ended
June 30, 2025		 
   China   United
States and others		   Total 
   (Unaudited)   (Unaudited)   (Unaudited) 
Revenue  $7,784,323   $903,885   $8,688,208 
Less:   　    　    　 
Cost of revenue   4,058,570    764,286    4,822,856 
Selling expenses   2,452,200    364,928    2,817,128 
General and administrative expenses   607,647    1,631,122    2,238,769 
Income (loss) from operations   665,906    (1,856,451)   (1,190,545)
Other income (expense)   　    　    　 
Interest expense, net   (74,598)   (3,745)   (78,343)
Other (expense) income, net   (110,713)   34,226    (76,487)
Interest income from long term debt investment   
-
    359,014    359,014 
Profit (loss) before income tax expense   480,595    (1,466,956)   (986,361)
Income tax expense   (62,432)   
-
    (62,432)
Net income (loss)  $418,163   $(1,466,956)  $(1,048,793)
Depreciation  $281,051   $111,925   $392,976 
Capital expenditures  $1,260,320   $4,341   $1,264,661 
   For the Six Months Ended
June 30, 2024		 
   China   United
States and others		   Total 
   (Unaudited)   (Unaudited)   (Unaudited) 
Revenue  $6,501,871   $1,040,811   $7,542,682 
Less:   　    　    　 
Cost of revenue   3,439,202    976,205    4,415,407 
Selling expenses   1,899,678    331,227    2,230,905 
General and administrative expenses   432,711    1,023,788    1,456,499 
Income (loss) from operations   730,280    (1,290,409)   (560,129)
Other income (expense)   　    　    　 
Interest (expense) income, net   (68,319)   43,041    (25,278)
Other (expense) income, net   (16,978)   331,648    314,670 
Interest income from long term debt investment   
-
    359,014    359,014 
Profit (loss) before income tax expense   644,983    (556,706)   88,277 
Income tax expense   (64,865)   
-
    (64,865)
Net income (loss)  $580,118   $(556,706)  $23,412 
Depreciation  $237,245   $208,542   $445,787 
Capital expenditures  $29,081   $5,187   $34,268 

 

   June 30,
2025		   December 31,
2024		 
Total assets:        
China  $33,368,274   $22,487,303 
United States   18,194,232    19,288,531 
Total assets  $51,562,506   $41,775,834 
           
Total liabilities:          
China  $24,251,768   $17,366,824 
United States   2,766,583    5,983,564 
Total liabilities  $27,018,351   $23,350,388