| Schedule of Segment Revenue |
All of the Company’s operations are conducted in
the PRC.
| | |
For the Three Months Ended June 30, 2026 | |
| | |
Wholesale
distribution | | |
Live-stream
sales | | |
Corporate | | |
Total | |
| Revenue: | |
| | |
| | |
| | |
| |
| Sale of inventories to distributors | |
| 8,675,546 | | |
| — | | |
| — | | |
| 8,675,546 | |
| Sale of digital coupons to customers | |
| — | | |
| 58,358 | | |
| — | | |
| 58,358 | |
| Total revenue, net | |
| 8,675,546 | | |
| 58,358 | | |
| — | | |
| 8,733,904 | |
| Costs of revenues | |
| (2,490,054 | ) | |
| (2,535 | ) | |
| — | | |
| (2,492,589 | ) |
| Gross profit | |
| 6,185,492 | | |
| 55,823 | | |
| — | | |
| 6,241,315 | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | |
| Sales staff costs | |
| (34,431 | ) | |
| (188,421 | ) | |
| 79,517 | | |
| (143,335 | ) |
| Administrative staff costs | |
| (11,536 | ) | |
| (141,757 | ) | |
| (131,996 | ) | |
| (285,289 | ) |
| Outbound transportation expenses | |
| (49,620 | ) | |
| (210 | ) | |
| — | | |
| (49,830 | ) |
| Advertising | |
| — | | |
| (108 | ) | |
| — | | |
| (108 | ) |
| Depreciation and amortization | |
| (7,829 | ) | |
| (92,316 | ) | |
| (92,272 | ) | |
| (192,417 | ) |
| Consulting | |
| (3,247 | ) | |
| (6,597 | ) | |
| (164,622 | ) | |
| (174,466 | ) |
| Rental | |
| — | | |
| (116 | ) | |
| — | | |
| (116 | ) |
| Research and development costs | |
| (36,222 | ) | |
| — | | |
| — | | |
| (36,222 | ) |
| Marketing expense | |
| (37,217 | ) | |
| (6,304 | ) | |
| — | | |
| (43,521 | ) |
| Sales tax and surcharges | |
| (83,450 | | |
| — | | |
| (7,345 | ) | |
| (90,795 | ) |
| Audit fee | |
| (2,748 | ) | |
| (1,842 | ) | |
| (31,734 | ) | |
| (36,324 | ) |
| Commission for E-commerce platform | |
| — | | |
| 8,395 | | |
| — | | |
| 8,395 | |
| Other expenses | |
| (2,025 | ) | |
| (15,480 | ) | |
| (64,756 | ) | |
| (82,261 | ) |
| Total operating expenses | |
| (268,325 | ) | |
| (444,756 | ) | |
| (413,208 | ) | |
| (1,126,289 | ) |
| Operating income (loss) | |
| 5,917,167 | | |
| (388,933 | ) | |
| (413,208 | ) | |
| 5,115,026 | |
| Penalty | |
| — | | |
| — | | |
| (436,961 | ) | |
| (436,961 | ) |
| Total other income (expense), net | |
| (6,830 | ) | |
| (1 | ) | |
| (105,248 | ) | |
| (112,079 | ) |
| Provision for income tax | |
| (1,439,395 | ) | |
| (28,790 | ) | |
| (37,423 | ) | |
| (1,505,608 | ) |
| Net income (loss) | |
| 4,470,942 | | |
| (417,724 | ) | |
| (992,840 | ) | |
| 3,060,378 | |
| | |
For the Six Months Ended June 30, 2026 | |
| | |
Wholesale
distribution | | |
Live-stream
sales | | |
Corporate | | |
Total | |
| Revenue: | |
| | |
| | |
| | |
| |
| Sale of inventories to distributors | |
| 14,422,351 | | |
| — | | |
| — | | |
| 14,422,351 | |
| Sale of digital coupons to customers | |
| — | | |
| 140,097 | | |
| — | | |
| 140,097 | |
| Total revenue, net | |
| 14,422,351 | | |
| 140,097 | | |
| — | | |
| 14,562,448 | |
| Costs of revenues | |
| (3,953,171 | ) | |
| (3,114 | ) | |
| — | | |
| (3,956,285 | ) |
| Gross profit | |
| 10,469,180 | | |
| 136,983 | | |
| — | | |
| 10,606,163 | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | |
| Sales staff costs | |
| (72,307 | ) | |
| (380,432 | ) | |
| 63,146 | | |
| (389,593 | ) |
| Administrative staff costs | |
| (29,997 | ) | |
| (328,542 | ) | |
| (109,110 | ) | |
| (467,649 | ) |
| Outbound transportation expenses | |
| (112,195 | ) | |
| (1,349 | ) | |
| — | | |
| (113,544 | ) |
| Advertising | |
| (20,161 | ) | |
| (108 | ) | |
| — | | |
| (20,269 | ) |
| Depreciation and amortization | |
| (15,567 | ) | |
| (184,631 | ) | |
| (199,373 | ) | |
| (399,571 | ) |
| Consulting | |
| (49,307 | ) | |
| (13,453 | ) | |
| (2,398,628 | ) | |
| (2,461,388 | ) |
| Rental | |
| — | | |
| (116 | ) | |
| — | | |
| (116 | ) |
| Research and development costs | |
| (74,935 | ) | |
| — | | |
| — | | |
| (74,935 | ) |
| Marketing expense | |
| (109,695 | ) | |
| (72,783 | ) | |
| — | | |
| (182,478 | ) |
| Sales tax and surcharges | |
| (132,516 | ) | |
| (350 | ) | |
| (16,185 | ) | |
| (149,051 | ) |
| Audit fee | |
| (7,583 | ) | |
| (3,270 | ) | |
| (386,366 | ) | |
| (397,219 | ) |
| Commission for E-commerce platform | |
| (10,889 | ) | |
| — | | |
| — | | |
| (10,889 | ) |
| Other expenses | |
| (2,378 | ) | |
| (35,550 | ) | |
| (55,891 | ) | |
| (93,819 | ) |
| Total operating expenses | |
| (637,530 | ) | |
| (1,020,584 | ) | |
| (3,102,407 | ) | |
| (4,760,521 | ) |
| Operating income (loss) | |
| 9,831,650 | | |
| (883,601 | ) | |
| (3,102,407 | ) | |
| 5,845,642 | |
| Penalty | |
| — | | |
| — | | |
| (436,961 | ) | |
| (436,961 | ) |
| Total other income (expense), net | |
| (6,830 | ) | |
| (1 | ) | |
| (294,324 | ) | |
| (301,155 | ) |
| Provision for income tax | |
| (2,172,091 | ) | |
| (28,790 | ) | |
| (155,264 | ) | |
| (2,356,145 | ) |
| Net income (loss) | |
| 7,652,729 | | |
| (912,392 | ) | |
| (3,988,956 | ) | |
| 2,751,381 | |
| | |
For the Three Months Ended June 30, 2025 | |
| | |
Wholesale
distribution | | |
Live-stream
sales | | |
Corporate | | |
Total | |
| Revenue: | |
| | |
| | |
| | |
| |
| Sale of inventories to distributors | |
| 6,936,002 | | |
| — | | |
| — | | |
| 6,936,002 | |
| Sale of digital coupons to customers | |
| — | | |
| 524,020 | | |
| — | | |
| 524,020 | |
| Total revenue, net | |
| 6,936,002 | | |
| 524,020 | | |
| — | | |
| 7,460,022 | |
| Costs of revenues | |
| (2,511,171 | ) | |
| (5,585 | ) | |
| — | | |
| (2,516,756 | ) |
| Gross profit | |
| 4,424,831 | | |
| 518,435 | | |
| | | |
| 4,943,266 | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | |
| Sales staff costs | |
| 4,515 | | |
| (146,337 | ) | |
| (82,820 | ) | |
| (224,642 | ) |
| Administrative staff costs | |
| (24,848 | ) | |
| (126,610 | ) | |
| (95,747 | ) | |
| (247,205 | ) |
| Outbound transportation expenses | |
| (14,563 | ) | |
| (15,611 | ) | |
| (145 | ) | |
| (30,319 | ) |
| Advertising | |
| 158,675 | | |
| 863 | | |
| — | | |
| 159,538 | |
| Depreciation and amortization | |
| (4,702 | ) | |
| (57,774 | ) | |
| (82,597 | ) | |
| (145,073 | ) |
| Consulting | |
| (1,462 | ) | |
| (15,352 | ) | |
| (59,236 | ) | |
| (76,050 | ) |
| Rental | |
| (1,185 | ) | |
| 16,724 | | |
| — | | |
| 15,539 | |
| Research and development costs | |
| (30,861 | ) | |
| — | | |
| — | | |
| (30,861 | ) |
| Marketing expense | |
| (9,149 | ) | |
| (7,944 | ) | |
| — | | |
| (17,093 | ) |
| Sales tax and surcharges | |
| (47,525 | ) | |
| — | | |
| (3,625 | ) | |
| (51,150 | ) |
| Audit fee | |
| — | | |
| — | | |
| — | | |
| — | |
| Commission for E-commerce platform | |
| — | | |
| — | | |
| — | | |
| — | |
| Other expenses | |
| (176,281 | ) | |
| (183,872 | ) | |
| (61,709 | ) | |
| (421,862 | ) |
| Total operating expenses | |
| (147,386 | ) | |
| (535,913 | ) | |
| (385,879 | ) | |
| (1,069,178 | ) |
| Operating income (loss) | |
| 4,277,445 | | |
| (17,478 | ) | |
| (385,879 | ) | |
| 3,874,088 | |
| Penalty | |
| — | | |
| — | | |
| — | | |
| — | |
| Total other income (expense), net | |
| 104,163 | | |
| 5,728 | | |
| 44,357 | | |
| 154,248 | |
| Provision for income tax | |
| (1,100,513 | ) | |
| (5,781 | ) | |
| — | | |
| (1,106,294 | ) |
| Net income (loss) | |
| 3,281,095 | | |
| (17,531 | ) | |
| (341,522 | ) | |
| 2,922,042 | |
| | |
For the Six Months Ended June 30, 2025 | |
| | |
Wholesale
distribution | | |
Live-stream
sales | | |
Corporate | | |
Total | |
| Revenue: | |
| | |
| | |
| | |
| |
| Sale of inventories to distributors | |
| 8,426,146 | | |
| — | | |
| — | | |
| 8,426,146 | |
| Sale of digital coupons to customers | |
| — | | |
| 3,552,915 | | |
| — | | |
| 3,552,915 | |
| Total revenue, net | |
| 8,426,146 | | |
| 3,552,915 | | |
| — | | |
| 11,979,061 | |
| Costs of revenues | |
| (3,057,402 | ) | |
| (1,925,455 | ) | |
| — | | |
| (4,982,857 | ) |
| Gross profit | |
| 5,368,744 | | |
| 1,627,460 | | |
| — | | |
| 6,996,204 | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | |
| Sales staff costs | |
| (78,474 | ) | |
| (317,393 | ) | |
| (82,820 | ) | |
| (478,687 | ) |
| Administrative staff costs | |
| (50,065 | ) | |
| (236,151 | ) | |
| (202,771 | ) | |
| (488,987 | ) |
| Outbound transportation expenses | |
| (40,724 | ) | |
| (125,711 | ) | |
| (181 | ) | |
| (166,616 | ) |
| Advertising | |
| (240 | ) | |
| | | |
| — | | |
| (240 | ) |
| Depreciation and amortization | |
| (5,476 | ) | |
| (59,253 | ) | |
| (164,717 | ) | |
| (229,446 | ) |
| Consulting | |
| (17,985 | ) | |
| (19,353 | ) | |
| (59,353 | ) | |
| (96,691 | ) |
| Rental | |
| (1,185 | ) | |
| (12,681 | ) | |
| — | | |
| (13,866 | ) |
| Research and development costs | |
| (58,344 | ) | |
| | | |
| — | | |
| (58,344 | ) |
| Marketing expense | |
| (293,848 | ) | |
| (16,566 | ) | |
| — | | |
| (310,414 | ) |
| Sales tax and surcharges | |
| (67,318 | ) | |
| (1,955 | ) | |
| (7,105 | ) | |
| (76,378 | ) |
| Audit fee | |
| — | | |
| — | | |
| — | | |
| | |
| Commission for E-commerce platform | |
| — | | |
| (238,595 | ) | |
| — | | |
| (238,595 | ) |
| Other expenses | |
| (24,496 | ) | |
| (66,188 | ) | |
| (67,970 | ) | |
| (158,654 | ) |
| Total operating expenses | |
| (638,155 | ) | |
| (1,093,846 | ) | |
| (584,917 | ) | |
| (2,316,918 | ) |
| Operating income (loss) | |
| 4,730,589 | | |
| 533,614 | | |
| (584,917 | ) | |
| 4,679,286 | |
| Penalty | |
| — | | |
| — | | |
| — | | |
| — | |
| Total other income (expense), net | |
| 186,600 | | |
| 60,738 | | |
| 507 | | |
| 247,845 | |
| Provision for income tax | |
| (1,232,398 | ) | |
| 992 | | |
| — | | |
| (1,231,406 | ) |
| Net income (loss) | |
| 3,684,791 | | |
| 595,344 | | |
| (584,410 | ) | |
| 3,695,725 | |
|