v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 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. As described in Note 18. 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.

 

Three months ended June 30, 2026

 

   Fast-Moving
Consumer
Goods		   Trading
Commission
and
Consulting
Services		   Supply
Chain
Financing/
Trading		   Total 
Reportable segment revenue  $100,265   $233,144   $
     -
   $333,409 
Inter-segment loss   
-
    
-
    
-
    
-
 
Revenue from external customers   100,265    233,144    
-
    333,409 
Segment gross profit  $718   $193,114   $
-
   $193,832 

 

Three months ended June 30, 2025 

 

    Fast-Moving
Consumer
Goods		     Trading
Commission
and
Consulting
Services		     Supply
Chain
Financing/
Trading		     Total  
Reportable segment revenue   $ 387,684     $ 206,776     $       -     $ 594,460  
Inter-segment loss     -       -       -       -  
Revenue from external customers     387,684       206,776       -       594,460  
Segment gross profit   $ 10,327     $ 168,731     $ -     $ 179,058  

Six months ended June 30, 2026

 

    Fast-Moving
Consumer
Goods		     Trading
Commission
and
Consulting
Services		     Supply
Chain
Financing/
Trading		     Total  
Reportable segment revenue   $ 212,367     $ 333,654     $      -     $ 546,021  
Inter-segment loss     -       -       -       -  
Revenue from external customers     212,367       333,654       -       546,021  
Segment gross profit   $ 7,000     $ 260,035     $ -     $ 267,035  

 

Six months ended June 30, 2025

 

    Fast-Moving
Consumer
Goods		     Trading
Commission
and
Consulting
service		     Supply
Chain
Financing/
Trading		     Total  
Reportable segment revenue   $ 864,135     $ 271,115     $ 1,341     $ 1,136,591  
Inter-segment loss     -       -       -       -  
Revenue from external customers     864,135       271,115       1,341       1,136,591  
Segment gross profit   $ 19,185     $ 229,558     $ 1,341     $ 250,084  

 

Income (loss) before Income Tax:

 

   Three Months Ended
June 30,		   Six Months Ended
June 30,		 
   2026   2025   2026   2025 
Supply Chain Financing/Trading  $(7)  $319   $13   $(52)
Fast-Moving Consumer Goods   (17,753)   98,358    30,662    (33,307)
Trading Commission and Consulting Services   384,852    427,609    848,570    1,050,301 
Corporate and Unallocated   1,756,568    (2,090,064)   2,592,746    28,028,320 
Total operating expenses and other expenses   2,123,660    (1,563,778)   3,471,991    29,045,262 
Income (Loss) before income tax  $(1,929,828)  $1,742,837   $(3,204,956)  $(28,795,178)

Segment assets as of June 30, 2026 and December 31, 2025:

 

   June 30,
2026		   December 31,
2025		 
Supply Chain Financing/Trading  $2,451,932   $2,969,945 
Fast-Moving Consumer Goods   282,071    379,700 
Trading Commission and Consulting Services   4,652,171    5,584,242 
Corporate and Unallocated   45,555,255    44,353,447 
Total assets  $52,941,429   $53,287,334