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Segment Reporting | 6 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
SEGMENT REPORTING | NOTE 19 — SEGMENT REPORTING The Company follows Financial Accounting Standards Board (FASB”) Accounting Standards codification “ASC”) Topic 280, Segment Reporting, as amended by Accounting Standards Update (“ASU”) No.2023-07. Segment Reporting Topic 280: Improvements to Reportable Segment Disclosures, the Company continually monitors the reportable segments for changes in fact and circumstances to determine whether changes in the identification or aggregation of operating segments are necessary. An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses, and is identified on the basis of the internal financial reports that are provided to and regularly reviewed by the Company’s chief operating decision maker in order to allocate resources and assess performance of the segment. The Company’s chief operating decision maker (“CODM”) is Mr. Henry Liu, the CEO. The CODM regularly reviews financial information, including segment revenue, gross profit, significant segment expenses (selling expenses and general and administrative expenses), segment net income (loss), and segment assets to evaluate segment performance and allocate resources accordingly. Based on internal management reporting and assessment, the Company concludes that it has two reporting segments listed as below for the six months ended December 31, 2025 and 2024. The Company and its subsidiaries are located either in the U.S. or China. The Company is primarily engaged in the business of providing customized cross-border freight solutions in the U.S. and distribution of pharmaceutical products in China. Segment net income (loss) excludes general corporate administrative expenses and selling expenses including corporate functional costs relating to professional expenses, payroll expense of management, and interest expenses in connection with convertible debt that are managed centrally at the corporate level and are excluded from the measure of segment performance reviewed by the CODM. The summary of key information by segments for the six months ended December 31, 2025 was as follows:
|  | Cross-border freight solutions (U.S.) |  |  | Pharmaceutical distribution (China) |  |  | Holding |  |  | Total for the six months ended December 31, 2025 |
Revenue from external customers |  | $ | 8,110,140 |  |  |  | 3,780,654 |  |  |  | — |  |  |  | 11,890,794 |
Revenue from related parties |  | $ | 1,221,728 |  |  |  | — |  |  |  | — |  |  |  | 1,221,728 |
Cost of revenue |  | $ | 8,108,196 |  |  |  | 1,985,266 |  |  |  | — |  |  |  | 10,093,462 |
Gross profit |  | $ | 1,223,672 |  |  |  | 1,795,388 |  |  |  | — |  |  |  | 3,019,060 |
Selling expense |  | $ | — |  |  |  | 1,074,293 |  |  |  | 18,951 |  |  |  | 1,093,244 |
General and administrative expense |  | $ | 2,132,762 |  |  |  | 356,740 |  |  |  | 1,828,511 |  |  |  | 4,318,013 |
Depreciation & amortization |  | $ | 78,903 |  |  |  | 23,172 |  |  |  | 43,642 |  |  |  | 145,717 |
Income tax expense |  | $ | — |  |  |  | 81,039 |  |  |  | — |  |  |  | 81,039 |
Long-lived assets |  | $ | 2,297,112 |  |  |  | 418,551 |  |  |  | 373,566 |  |  |  | 3,089,229 |
Segment assets |  | $ | 6,421,111 |  |  |  | 3,725,331 |  |  |  | 14,153,766 |  |  |  | 24,300,208 |
Segment profit (loss) |  | $ | (1,016,831 | ) |  |  | 222,675 |  |  |  | (2,146,741 | ) |  |  | (2,940,897 | )
The summary of key information by segments for the six months ended December 31, 2024 was as follows:
|  | Cross-border freight solutions (U.S.) |  |  | Pharmaceutical distribution (China) |  |  | Others |  |  | Total for the six months ended December 31, 2024 |
Revenue from external customers |  | $ | 6,702,063 |  |  | $ | 218,086 |  |  | $ | – |  |  | $ | 6,920,149 |
Revenue from related parties |  | $ | 756,994 |  |  | $ | – |  |  | $ | – |  |  | $ | 756,994 |
Cost of revenue |  | $ | 7,075,044 |  |  | $ | 121,791 |  |  | $ | – |  |  | $ | 7,196,835 |
Gross profit |  | $ | 384,013 |  |  | $ | 96,295 |  |  | $ | – |  |  | $ | 480,308 |
Depreciation & amortization |  | $ | 86,685 |  |  | $ | 447 |  |  | $ | – |  |  | $ | 87,132 |
Income tax provision |  | $ | 89,581 |  |  | $ | – |  |  | $ | – |  |  | $ | 89,581 |
Capital expenditure |  | $ | 181,963 |  |  | $ | 74,351 |  |  | $ | – |  |  | $ | 256,314 |
Long-lived assets |  | $ | 4,582,950 |  |  | $ | 816,826 |  |  | $ | – |  |  | $ | 5,399,776 |
Segment assets |  | $ | 7,092,574 |  |  | $ | 1,949,879 |  |  | $ | 794,673 |  |  | $ | 9,837,126 |
Segment loss |  | $ | (2,129,585 | ) |  | $ | (334,567 | ) |  | $ | (818,075 | ) |  | $ | (3,282,227 | )

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- Definition The entire disclosure for reporting segments including data and tables. 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