v3.26.3
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SCHEDULE OF SEGMENTAL OPERATING RESULTS

The operating results of each business segment were as follows:

  

                
   Six months ended June 30, 2025 
   Retail Sales   Export Sales   Leather Trading   Corporate and unallocated   Total 
                          
Revenues, net                         
From third party  $3,382,273   $166,459,189   $276,399   $-   $170,117,861 
From related parties   -    1,550,023    9,106,919    -    10,656,942 
Revenues   3,382,273   168,009,212   9,383,318   -    180,774,803
Cost of goods sold   (1,401,494)   (120,526,294)   (9,014,470)   -    (130,942,258) 
                          
Gross profit   1,980,779    47,482,918    368,848    -    49,832,545 
                          
Operating expenses:                         
Sales and distribution expenses   (2,404,689)   (28,634,760)   (52,661)   -    (31,092,110)
General and administrative expenses   (906,968)   (8,099,908)   (3,025)   (682,051)   (9,691,952)
Total operating expenses   (3,311,657)   (36,734,668)   (55,686)   (682,051)   (40,784,062)
                          
Operating income (loss)   (1,330,878)   10,748,250    313,162    (682,051)   9,048,483 
                          
Other income (expenses):                         
Interest expense   (125,183)   (394,423)   (210,766)   -    (730,372)
Interest income   130    15,946    170    -    16,246 
Government subsidies   12,238    4,712    -    -    16,950 
Foreign exchange gain (loss), net   (9,647)   4,292,067    6,215    4,998   4,293,633 
Net gain from related parties debt restructuring   -    -    -    1,460,543    1,460,543 
Professional fees on acquisition of HTL Marketing   -    (133,960)   -    (1,127,600)   (1,261,560)
Scrap sofa sale income   -    223,263    -    -    223,263 
Sundry income (expense)   78,284    21,551    7    (60,438)   39,404 
Change in fair value of derivatives financial Instruments   -    (753,243)   -    -    (753,243)
Total other income (expenses), net   (44,178)   3,275,913   (204,374)   277,503   3,304,864
                          
Income (loss) before income taxes   (1,375,056)   14,024,163    108,788    (404,548)   12,353,347 
Income tax expense   -    (2,310,779)   (18,493)   -    (2,329,272)
                          
Segment income (loss)  $(1,375,056)  $11,713,384   $90,295   $(404,548)  $10,024,075 

 

 

HOMESTOLIFE LTD AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

 

                
   Six months ended June 30, 2026 
   Retail Sales   Export Sales   Leather Trading   Corporate and unallocated   Total 
                     
Revenues, net                         
From third party  $5,313,821   $185,418,405   $-   $-   $190,732,226 
From related parties   -    874,947    6,697,933    -    7,572,880 
Revenues    5,313,821    186,293,352    6,697,933    -    198,305,106 
Cost of goods sold   (1,876,931)   (133,106,987)   (6,327,510)   -    (141,311,428)
                          
Gross profit   3,436,890    53,186,365    370,423    -    56,993,678 
                          
Operating expenses:                         
Sales and distribution expenses   (3,385,506)   (33,560,786)   (21,130)   -    (36,967,422)
General and administrative expenses   (694,444)   (8,432,743)   (1,969)   (1,198,702)   (10,327,858)
Total operating expenses   (4,079,950)   (41,993,529)   (23,099)   (1,198,702)   (47,295,280)
                          
Operating income (loss)   (643,060)   11,192,836    347,324    (1,198,702)   9,698,398 
                          
Other income (expenses):                         
Interest expense   -   (40,734)   (109,881)   -    (150,615)
Interest income   465    18,421    307    -    19,193 
Government subsidies   15,685    7,700    -    -    23,385 
Foreign exchange gain (loss), net   (2,426)   (2,319,989)   163,712    (9,654)   (2,168,357) 
Scrap sofa sale income   -    165,621    -    -    165,621 
Change in fair value of derivatives financial Instruments   -    74,765   -    -    74,765
Sundry income (expense)   89,747    (208,528)   -    266,876    148,095 
Total other income (expenses), net   103,471   (2,302,744)   54,138   257,222    (1,887,913)
                          
Income (loss) before income taxes   (539,589)   8,890,092    401,462    (941,480)   7,810,485 
Income tax expense   -    (1,674,699)   (68,248)   -    (1,742,947)
                          
Segment income (loss)  $(539,589)  $7,215,393   $333,214   $(941,480)  $6,067,538 
SCHEDULE OF REVENUES BY GEOGRAPHICAL AREAS

By geographic regions:

 

SCHEDULE OF REVENUES BY GEOGRAPHICAL AREAS  

               
   Six months ended June 30, 2025 
    Retail Sales    Export Sales    Leather Trading    Total 
                     
Asia Pacific  $3,382,273   $35,917,394   $9,383,318   $48,682,985 
Europe   -    109,989,204    -    109,989,204 
North America   -    22,102,614    -    22,102,614 
Total  $3,382,273   $168,009,212   $9,383,318   $180,774,803 

 

By geographic regions:

 

               
   Six months ended June 30, 2026 
   Retail Sales   Export Sales   Leather Trading   Total 
                     
Asia Pacific  $5,313,821   $34,667,805   $6,697,933   $46,679,559 
Europe   -    123,659,565    -    123,659,565 
North America   -    27,965,982    -    27,965,982 
Total  $5,313,821   $186,293,352   $6,697,933   $198,305,106 
SCHEDULE OF IDENTIFIABLE LONG LIVED ASSETS

The following tables present the summary of identifiable long-lived assets as of December 31, 2025 and June 30, 2026:

 SCHEDULE OF IDENTIFIABLE LONG LIVED ASSETS 

             
   As of December 31, 2025 
   Retail Sales   Export Sales   Leather Trading   Total 
                 
Property, plant and                    
equipment, net   776,528    3,577,555    123    4,354,206 
                     
Right-of-use assets, net   6,216,681    1,146,631    -    7,363,312 
Identifiable long-lived assets    6,993,209    4,724,186    123    11,717,518 

 

 

HOMESTOLIFE LTD AND SUBSIDIARIES

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

 

             
   As of June 30, 2026 
   Retail Sales   Export Sales   Leather Trading   Total 
                 
Property, plant and                    
equipment, net   610,418    5,273,832    -    5,884,250 
Right-of-use assets, net   4,804,117    2,724,059           -    7,528,176 
Identifiable long-lived assets    5,414,535    7,997,891    -    13,412,426