v3.26.1
SEGMENT INFORMATION
 12 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION

NOTE 20 - SEGMENT INFORMATION

 

The Company follows the guidance of ASC 280, “Segment Reporting,” which establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure. The Company uses the management approach to determine reportable operating segments. The Company has determined that it has four reportable operating segments: (i) clean-energy equipment; (ii) digitalization and integration equipment; (iii) new energy; and (iv) oil and gas engineering technical services. These segments are organized based on the nature of products and services offered and the manner in which they are managed. The Company currently sells its products primarily within China, consequently no segment information based on geography is disclosed.

 

Chief Operating Decision Maker (“CODM”)

 

The Company’s Chief Executive Officer (“CEO”) has been identified as the CODM. The CEO reviews segment operating results, including segment revenues, total cost of revenues and gross profit on a quarterly and annual basis to evaluate the performance of each operating segment and make decisions about the allocation of resources to individual segments. The CODM uses gross profit as the primary measure of segment profit or loss for all four reportable segments.

 

Significant Expense Categories Reviewed by the CODM

 

For each reportable segment, on a quarterly basis, the CODM reviews the main reasons for period-to-period (and actual vs. prior) fluctuations in total cost of revenues and evaluates their impact on gross margin..

 

The CODM does not allocate any of the following corporate expenses: selling and marketing expenses, general and administrative expenses, provision for expected credit losses, research and development expenses, interest expense, and income taxes in his evaluation of the quarterly and annual segment operating results as such expenses are managed and reviewed at the consolidated level.

 

Segment Information

 

The tables below summarize the Company’s segment operating results for the years ended September 30, 2025, 2024 and 2023:

 

For the Year Ended September 30, 2025

 

  

Sale of

Clean-energy

equipment

  

Sale of

Digitalization

and

integration

equipment

  

Sale of

new energy

  

Delivery of

oil and gas

engineering

technical

services

   Total 
Revenues  $22,073,207   $2,731,568   $19,536,237   $3,994,541   $48,335,553 
Cost of revenues   (17,538,969)   (2,113,040)   (19,231,664)   (926,209)   (39,809,882)
Gross profit  $4,534,238   $618,528   $304,573   $3,068,332   $8,525,671 

 

For the Year Ended September 30, 2024

 

  

Sale of

Clean-energy

equipment

  

Sale of

Digitalization

and

integration

equipment

  

Sale of

new energy

  

Delivery of

oil and gas

engineering

technical

services 

   Total 
Revenues  $33,816,111   $3,081,230   $25,822,344   $6,353,689   $69,073,374 
Cost of revenues   (23,492,973)   (2,521,522)   (25,173,782)   (1,850,578)   (53,038,855)
Gross profit  $10,323,138   $559,708   $648,562   $4,503,111   $16,034,519 

 

For the Year Ended September 30, 2023

 

  

Sale of

Clean-energy

equipment

  

Sale of Digitalization

and

integration

equipment

  

Sale of

new energy

  

Delivery of

oil and gas

engineering

technical

services

   Total 
Revenues  $39,581,383   $3,364,644   $23,204,437   $6,933,984   $73,084,448 
Cost of revenues   (27,713,920)   (3,154,108)   (22,745,219)   (1,092,160)   (54,705,407)
Gross profit  $11,867,463   $210,536   $459,218   $5,841,824   $18,379,041 

 

Reconciliation of Segment Profit (Gross Profit) to Consolidated Income Before Income Taxes

 

   2025   2024   2023 
   Year Ended September 30, 
   2025   2024   2023 
Total segment profit (gross profit)  $8,525,671   $16,034,519   $18,379,041 
Corporate expenses:               
 Selling and marketing expenses   (1,835,938)   (2,053,194)   (775,957)
 General and administrative expenses   (5,124,362)   (4,475,500)   (4,713,012)
 Provision for expected credit losses   (2,984,108)   (1,504,390)   (840,900)
 Research and development expenses   (247,216)   (449,542)   (158,657)
 Total operating expenses   (10,191,624)   (8,482,626)   (6,488,526)
(Loss) income from operations   (1,665,953)   7,551,893    11,890,515 
Other income, net   2,435,510    623,141    473,711 
Income before income taxes  $769,557    8,175,034   $12,364,226 

 

Reconciliation of Segments’ assets to the Consolidated assets.

 

   2025   2024 
   As of September 30, 
   2025   2024 
Clean-energy equipment  $44,096,905   $54,539,861 
Digitalization and integration equipment   7,904,522    3,756,020 
New energy   1,658,836    3,581,161 
Oil and gas engineering technical services   23,558,598    10,720,158 
Other corporate assets   46,535,830    38,624,803 
Total assets  $123,754,691   $111,222,003 

 

   2025   2024 
   As of September 30, 
   2025   2024 
Total assets related to reportable segments  $77,218,861   $72,597,200 
Other corporate assets   46,535,830    38,624,803 
Elimination of intercompany balances   (54,422,059)   (41,587,953)
Total consolidated assets  $69,332,632   $69,634,050