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Segments information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segments information

Note 17 – Segments information

 

The Company conducts business as a single operating segment which is based upon the Company’s organizational and management structure, as well as information used by the CODM, the CEO of the Company, to allocate resources and perform assessment. The key measure of segment profitability that the CODM uses to allocate resources and assess performance is consolidated net income. The following table presents the significant revenue and expense categories of the Company’s single operating segment:

 

Disaggregated information of revenues, cost of revenues and gross profit by business lines are as follows:

 

                       
    For the year ended December 31, 2024   For the year ended December 31, 2023   For the year ended December 31, 2022
             
Sewage treatment systems   $ 28,417,150     $ 32,267,593     $ 26,552,481  
Sewage treatment services and others     1,348,055       1,942,326       2,296,881  
Total revenues     29,765,205       34,209,919       28,849,362  
                         
Sewage treatment systems     17,779,226       21,630,216       17,170,669  
Sewage treatment services and others     739,502       1,194,817       1,425,538  
Total cost of revenues     18,518,728       22,825,033       18,596,207  
                         
Total gross profit   11,246,477     11,384,886     10,253,155  
                         
Less:                        
Selling expense     108,637       106,147       164,583  
Depreciation expense     148,280       165,683       207,980  
Salary expense     255,049       991,037       1,158,607  
Rent     124,753       214,701       292,215  
Professional fee     1,296,218       679,438       1,049,378  
Other general and administrative expense     340,157       623,660       442,332  
Research and development expense     61,786       80,948       112,668  
Stock-based compensation     454,250       —          
Provision for (recovery from) credit loss, net     6,459,240       (88,221 )     471,454  
Other income (expense), net     129,782       183,559     (41,814 ) 
Income before income taxes     1,868,325       8,427,934       6,395,752  
Income taxes expenses     462,043       1,403,880       1,152,963  
Net income   $ 1,406,282     $ 7,024,054     $ 5,242,789