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

19. SEGMENT REPORTING

 

In its operation of the business, management, including the Company’s chief operating decision maker, who is the Company’s Chief Executive Officer, reviews certain financial information, including segmented internal profit and loss statements prepared on a basis consistent with GAAP. The Company operates in three segments starting in fiscal 2021: “supply chain financing service and trading business” and “others”. As described in Note 17. DISCONTINUED OPERATIONS, certain subsidiaries were sold, dissolved or deregistered, resulting in material changes to the Company’s business operations. Consequently, the Company has reorganized its operations into the following three reportable segments: (1) Fast-Moving Consumer Goods (FMCG), (2) Trading Commission and Consulting services and (3) supply chain financing service and trading business.

 

The Company began to provide supply chain financing services during the second quarter of 2021. The Company began to provide sand and steel supply chain financing services during the first quarter of 2023. The Company began to provide brokerage services in October 2023. During the last quarter of fiscal year 2024, the Company commenced operations in the Fast-Moving Consumer Goods (FMCG) sector.

 

Some of the Company’s operations might not individually meet the quantitative thresholds for determining reportable segments and the Company determines the reportable segments based on the discrete financial information provided to the chief operating decision maker. The chief operating decision maker evaluates the results of each segment in assessing performance and allocating resources among the segments. Since there is an overlap of services and products between different subsidiaries of the Company, the Company does not allocate operating expenses and assets based on the product segments. Therefore, operating expenses and asset information by segment are not presented. Segment profit represents the gross profit of each reportable segment.

   

For the three months ended March 31, 2026

 

   Fast-Moving
Consumer
Goods		   Trading
Commission
and
Consulting
services		   Supply
Chain
Financing/
Trading		   Total 
Reportable segment revenue  $112,102   $100,510   $         -   $212,612 
Inter-segment loss   
-
    
-
    
-
    
-
 
Revenue from external customers   112,102    100,510    -    212,612 
Segment gross profit  $6,282   $66,921   $-   $73,203 

 

For the three months ended March 31, 2025

 

   Fast-Moving
Consumer
Goods		   Trading
Commission
and
Consulting
services		   Supply
Chain
Financing/
Trading		   Total 
Reportable segment revenue  $476,451   $64,339   $1,341   $542,131 
Inter-segment loss   
-
    
-
    
-
    
-
 
Revenue from external customers   476,451    64,339    1,341    542,131 
Segment gross profit  $8,858   $60,827   $1,341   $71,026 

Loss before Income Tax:

 

   For the Three Months Ended
March 31,		 
   2026   2025 
Supply Chain Financing/Trading  $20   $(371)
Fast-Moving Consumer Goods   48,415    (131,665)
Trading Commission and Consulting services   463,718    622,692 
Corporate and Unallocated   836,178    30,118,385 
Total operating expenses and other expenses   1,348,331    30,609,041 
Loss before income tax  $(1,275,128)  $(30,538,015)

 

Segment assets as of March 31, 2026 and December 31, 2025:

 

   March 31,
2026		   December 31,
2025		 
Supply Chain Financing/Trading  $2,475,672   $2,969,945 
Fast-Moving Consumer Goods   316,775    379,700 
Trading Commission and Consulting services   4,481,648    5,584,242 
Corporate and Unallocated   44,613,671    44,353,447 
Total assets  $51,887,766   $53,287,334