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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION

Note 20     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:

               
   For the year ended December 31, 2025 
   Fish Trading   E-Commerce   Total 
   $   $   $ 
Revenue   10,853,021    160,025    11,013,046 
Cost of revenue   (10,831,353)   (35,799)   (10,867,152)
Gross profit   21,668    124,226    145,894 
General and administrative expenses   (2,546,060)   (52,518)   (2,598,578)
Segment operating losses   (2,524,392)   71,708    (2,452,684)
Income tax expenses   (143,397)   –    (143,397)
Segment losses   (2,667,789)   71,708    (2,596,081)

 

   For the year ended December 31, 2024 
   Fish Trading   E-Commerce   Total 
   $   $   $ 
Revenue   11,853,106    345,033    12,198,139 
Cost of revenue   (11,828,943)   (108,627)   (11,937,570)
Gross profit   24,163    236,406    260,569 
General and administrative expenses   (1,469,207)   (469,976)   (1,939,183)
Segment operating losses   (1,445,044)   (233,570)   (1,678,614)
Income tax expenses   (121,575)   –    (121,575)
Segment losses   (1,566,619)   (223,570)   (1,800,189)