v3.26.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

Note 20     SEGMENT INFORMATION

 

The Company’s Chief Operating Decision Maker (“CODM”) is its Executive Director, Song-Yuan Teng, who is responsible for reviewing the results of operations and allocating resources across the Company’s reportable segments. During the periods presented, the Company’s reportable segments consisted of Fish Trading and E-Commerce. These operating segments reflect the manner in which the CODM evaluates performance and allocates resources.

 

On December 31, 2025, the Company completed the disposal of its Catering segment (Meixin). The results of the Catering segment have been classified as discontinued operations for all periods presented. Accordingly, the segment information disclosed below excludes the results of the Catering segment. The Catering segment reported net sales of $1,540,851 for the three months ended March 31, 2025.


Segment performance is evaluated based on segment revenue and operating profit, which includes direct costs and segment-specific general and administrative expenses, but excludes corporate overhead and interest. The CODM does not regularly review segment assets, and therefore segment asset information is not presented.

  

Summary operating results for each of the Company’s reportable segments were as follows:

         
   For the three months ended March 31, 2026
   Fish Trading  E-Commerce  Total
    $     $     $  
Revenue   2,240,236    37,548    2,277,784 
Cost of revenue   (2,235,798)   (6)   (2,235,804)
Gross profit   4,438    37,542    41,980 
General and administrative expenses   (546,763)   (12,445)   (559,208)
Segment operating losses   (542,325)   25,097    (517,227)
Income tax expenses   –    –    – 
Segment losses   (542,325)   25,097    (517,227)

 

   For the three months ended March 31, 2025
   Fish Trading  E-Commerce  Total
    $     $     $  
Revenue   2,935,444    40,347    2,975,791 
Cost of revenue   (2,929,553)   (14,212)   (2,943,765)
Gross profit   5,891    26,134    32,025 
General and administrative expenses   (257,728)   (19,863)   (277,591)
Segment operating losses   (251,837)   6,271    (245,566)
Income tax expenses   –    –    – 
Segment losses   (251,837)   6,271    (245,566)