v3.26.3
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION

Note 19      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 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 $2,418 and $4,507 for the three months and six months ended June 30, 2025, 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:

               
   Three months ended June 30, 2026 
   Fish Trading   E-Commerce   Total 
   $   $   $ 
Revenue   2,095,869    43,695    2,139,564 
Cost of revenue   (2,091,691)   (29,875)   (2,121,566)
Gross profit   4,178    13,820    17,998 
General and administrative expenses   (1,182,499)   (10,220)   (1,192,719)
Segment operating losses   (1,178,321)   3,600    (1,174,721)
Income tax expenses   –    –    – 
Segment losses   (1,178,321)   3,600    (1,174,721)

 

   Three months ended June 30, 2025
   Fish Trading  E-Commerce  Total
    $     $     $  
Revenue   2,987,262    39,428    3,026,690 
Cost of revenue   (2,981,259)   (15,383)   (2,996,642)
Gross profit   6,003    24,045    30,048 
General and administrative expenses   (168,224)   (10,518)   (178,742)
Segment operating losses   (162,221)   13,527    (148,694)
Income tax expenses   (140,561)   –    (140,561)
Segment losses   (302,782)   13,527    (289,255)

 

          
   Six months ended June 30, 2026
   Fish Trading  E-Commerce  Total
    $     $     $  
Revenue   4,336,105    81,243    4,417,348 
Cost of revenue   (4,327,489)   (29,881)   (4,357,370)
Gross profit   8,615    51,363    59,978 
General and administrative expenses   (1,188,108)   (22,583)   (1,210,691)
Segment operating losses   (1,179,493)   28,779    (1,150,713)
Income tax expenses   –    –    – 
Segment losses   (1,179,493)   28,779    (1,150,713)

 

          
   Six months ended June 30, 2025
   Fish Trading  E-Commerce  Total
    $     $     $  
Revenue   5,922,705    97,261    6,019,966 
Cost of revenue   (5,910,812)   (31,785)   (5,942,597)
Gross profit   11,893    65,476    77,369 
General and administrative expenses   (422,135)   (38,516)   (460,651)
Segment operating losses   (410,242)   26,960    (383,282)
Income tax expenses   (140,561)   –    (140,561)
Segment losses   (550,803)   26,960    (523,843)

 

The following table summarizes revenue disaggregated by primary geographical market based on destination of shipment for products:

    
Geographic Information    
   Revenue 
   $ 
Taiwan  1,940,627 
Japan  2,395,478 
Other foreign countries  81,243 
Total  4,417,348