v3.25.2
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SCHEDULE OF SEGMENTAL OPERATING RESULTS

The operating results of each business segment were as follows:

 

 

   Retail Sales   Export Sales   Leather Trading   Corporate and unallocated   Total  
   Six months ended June 30, 2024 
   Retail Sales   Export Sales   Leather Trading   Corporate and unallocated   Total  
                          
Revenues, net                         
From third party  $2,003,351   $147,484,078   $974,183   $-   $150,461,612 
From related parties   -    773,015    5,077,482    -    5,850,497 
 Revenues   2,003,351    148,257,093    6,051,665    -    156,312,109 
Cost of goods sold   (776,807)   (107,820,138)   (5,779,207)   -    (114,376,152)
                          
Gross profit   1,226,544    40,436,955    272,458    -    41,935,957 
                          
Operating expenses:                         
Sales and distribution   (1,362,959)   (24,754,901)   (108,358)   -    (26,226,218)
General and administrative   (616,212)   (7,262,510)   (3,553)   (95,956)   (7,978,231)
Listing expenses   -    -    -    (310,502)   (310,502)
Total operating expenses   (1,979,171)   (32,017,411)   (111,911)   (406,458)   (34,514,951)
                          
Operating (loss) profit   (752,627)   8,419,544    160,547    (406,458)   7,421,006 
                          
Other income (expenses):                         
Interest expense   (93,345)   (143,112)   (150,806)   -    (387,263)
Interest income   -    94,861    179    -    95,040 
Government subsidies   13,689    7,543    -    -    21,232 
Foreign exchange gain (loss), net   (523)   532,768    2,176    (1,512)   532,909 
Scrap sofa sale income   -    303,452    -    -    303,452 
Sundry income   27,144    54,669    3    -    81,816 
Change in fair value of derivatives and hedging instruments   -    (1,064,841)   -    -    (1,064,841)
Total other expense, net   (53,035)   (214,660)   (148,448)   (1,512)   (417,655)
                          
Income (loss) before income expense   (805,662)   8,204,884    12,099    (407,970)   7,003,351 
Income tax expense   -    (1,635,679)   (2,056)   -    (1,637,735)
                          
Segment income (loss)  $(805,662)  $6,569,205   $10,043   $(407,970)  $5,365,616 

 

 

HOMESTOLIFE LTD AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

 

   Retail Sales   Export Sales   Leather Trading   Corporate and unallocated   Total  
   Six months ended June 30, 2025 
   Retail Sales   Export Sales   Leather Trading   Corporate and unallocated   Total 
                     
Revenues, net                         
From third party  $3,382,273   $166,459,189   $276,399   $-   $170,117,861 
From related parties   -    1,550,023    9,106,919    -    10,656,942 
 Total Revenues   3,382,273    168,009,212    9,383,318    -    180,774,803 
Cost of goods sold   (1,401,494)   (120,526,294)   (9,014,470)   -    (130,942,258)
                          
Gross profit   1,980,779    47,482,918    368,848    -    49,832,545 
                          
Operating expenses:                         
Sales and distribution   (2,404,689)   (28,634,760)   (52,661)   -    (31,092,110)
General and administrative   (906,968)   (8,099,908)   (3,025)   (16,030)   (9,025,931)
Listing expenses   -    -    -    (666,021)   (666,021)
Total operating expenses   (3,311,657)   (36,734,668)   (55,686)   (682,051)   (40,784,062)
                          
Operating profit (loss)   (1,330,878)   10,748,250    313,162    (682,051)   9,048,483 
                          
Other income (expenses):                         
Interest expense   (125,183)   (394,423)   (210,766)   -    (730,372)
Interest income   130    15,946    170    -    16,246 
Government subsidies   12,238    4,712    -    -    16,950 
Foreign exchange gain (loss), net   (9,647)   4,292,067    6,215    4,998    4,293,633 
Net gain from related parties debt restructuring   -    -    -    1,460,543    1,460,543 
Professional fees on acquisition of HTL Marketing   -    (133,960)   -    (1,127,600)   (1,261,560)
Scrap sofa sale income   -    223,263    -    -    223,263 
Sundry income (expense)   78,284    21,551    7    (60,438)   39,404 
Change in fair value of derivatives and hedging instruments   -    (753,243)   -    -    (753,243)
Total other income (expenses), net   (44,178)   3,275,913    (204,374)   277,503    3,304,864 
                          
Income (loss) before income expense   (1,375,056)   14,024,163    108,788    (404,548)   12,353,347 
Income tax expense   -    (2,310,779)   (18,493)   -    (2,329,272)
                          
Segment income (loss)  $(1,375,056)  $11,713,384   $90,295   $(404,548)  $10,024,075 
SCHEDULE OF REVENUES BY GEOGRAPHICAL AREAS

By geographic regions:

 

SCHEDULE OF REVENUES BY GEOGRAPHICAL AREAS 

    Retail Sales    Export Sales    Leather Trading    Total 
   Six months ended June 30, 2024 
    Retail Sales    Export Sales    Leather Trading    Total 
                     
Asia Pacific  $2,003,351   $34,805,411   $6,051,665   $42,860,427 
Europe   -    94,433,035    -    94,433,035 
North America   -    19,018,647    -    19,018,647 
Total  $2,003,351   $148,257,093   $6,051,665   $156,312,109 

 

   Retail Sales   Export Sales   Leather Trading   Total 
   Six months ended June 30, 2025 
   Retail Sales   Export Sales   Leather Trading   Total 
                     
Asia Pacific  $3,382,273   $35,917,394   $9,383,318   $48,682,985 
Europe   -    109,989,204    -    109,989,204 
North America   -    22,102,614    -    22,102,614 
Total  $3,382,273   $168,009,212   $9,383,318   $180,774,803 
SCHEDULE OF IDENTIFIABLE LONG LIVED ASSETS

The following tables present the summary of identifiable long-lived assets as of December 31, 2024 and June 30, 2025:

 

 SCHEDULE OF IDENTIFIABLE LONG LIVED ASSETS

   Retail Sales   Export Sales   Leather Trading   Total 
   As of December 31, 2024 
   Retail Sales   Export Sales   Leather Trading   Total 
                 
Property, plant and equipment, net   220,603    3,512,311    1,243    3,734,157 
Right-of-use assets, net   5,064,993    1,567,756    -    6,632,749 
 Identifiable long-lived assets   5,285,596    5,080,067    1,243    10,366,906 

 

 

HOMESTOLIFE LTD AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

 

   Retail Sales   Export Sales   Leather Trading   Total 
   As of June 30, 2025 
   Retail Sales   Export Sales   Leather Trading   Total 
                 
Property, plant and equipment, net   708,669    3,790,236    683    4,499,588 
Right-of-use assets, net   5,774,589    1,482,139    -    7,256,728 
  Identifiable long-lived assets   6,483,258    5,272,375    683    11,756,316