| SEGMENT INFORMATION |
Note 22 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, Catering, 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 $2,597,349 and $4,890,187 for the years ended December 31, 2025 and 2024, respectively.
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:
| Schedule of segment information | |
| | | |
| | | |
| | |
| | |
For the year ended December 31, 2025 | |
| | |
Fish Trading | | |
E-Commerce | | |
Total | |
| | |
$ | | |
$ | | |
$ | |
| Revenue | |
| 10,870,570 | | |
| 160,025 | | |
| 11,030,595 | |
| Cost of revenue | |
| (10,833,551 | ) | |
| (35,799 | ) | |
| (10,869,350 | ) |
| Gross profit | |
| 37,019 | | |
| 124,226 | | |
| 161,245 | |
| General and administrative expenses | |
| (2,505,210 | ) | |
| (50,559 | ) | |
| (2,555,769 | ) |
| Segment operating losses | |
| (2,468,191 | ) | |
| 73,667 | | |
| (2,394,524 | ) |
| Income tax expense | |
| (251,972 | ) | |
| – | | |
| (251,972 | ) |
| Segment losses | |
| (2,720,163 | ) | |
| 73,667 | | |
| (2,646,496 | ) |
| | |
For the year ended December 31, 2024 | |
| | |
Fish Trading | | |
E-Commerce | | |
Total | |
| | |
$ | | |
$ | | |
$ | |
| Revenue | |
| 11,777,912 | | |
| 345,033 | | |
| 12,122,945 | |
| Cost of revenue | |
| (11,743,611 | ) | |
| (108,627 | ) | |
| (11,852,238 | ) |
| Gross profit | |
| 34,301 | | |
| 236,406 | | |
| 270,707 | |
| General and administrative expenses | |
| (1,474,909 | ) | |
| (973,888 | ) | |
| (2,448,797 | ) |
| Segment operating losses | |
| (1,440,608 | ) | |
| (737,482 | ) | |
| (2,178,090 | ) |
| Income tax expense | |
| (234,576 | ) | |
| – | | |
| (234,576 | ) |
| Segment losses | |
| (1,675,184 | ) | |
| (737,482 | ) | |
| (2,412,666 | ) |
The following table summarizes revenue disaggregated
by primary geographical market based on destination of shipment for products:
| Schedule of revenue disaggregated by primary geographical market | |
| | |
| Geographic Information | |
| | |
| | |
| Revenue | |
| | |
| $ | |
| Taiwan | |
| 5,343,685 | |
| Japan | |
| 5,526,885 | |
| Other foreign countries | |
| 160,025 | |
| Total | |
| 11,030,595 | |
|