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Revenue and Segment Information | 12 Months Ended
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Dec. 31, 2024
Revenue and Segment Information [Abstract] |
Revenue and segment information | 3. Revenue and segment information Revenue The Group’s revenue was generated from production and trading of primarily-processed teas and refined teas in the PRC. Disaggregation of revenue from contracts with customers recognized at a point in time is as follows:
|  | Year ended December 31, |
|  | 2022 |  |  | 2023 |  |  | 2024 |
|  | USD’000 |  |  | USD’000 |  |  | USD’000 |
Sales of primarily-processed white teas |  |  |  |  |  |  |  |  |
Premium-grade |  |  | 3,494 |  |  |  | 3,578 |  |  |  | 1,783 |
First-grade |  |  | 6,224 |  |  |  | 5,806 |  |  |  | 3,260 |
Second-grade |  |  | 5,001 |  |  |  | 5,088 |  |  |  | 3,029 |
Third-grade |  |  | 5,515 |  |  |  | 5,413 |  |  |  | 3,159 |
Sales of primarily-processed black teas |  |  |  |  |  |  |  |  |  |  |  |
Premium-grade |  |  | 747 |  |  |  | 691 |  |  |  | 449 |
First-grade |  |  | 1,237 |  |  |  | 1,176 |  |  |  | 776 |
Second-grade |  |  | 990 |  |  |  | 900 |  |  |  | 690 |
Third-grade |  |  | 1,082 |  |  |  | 1,031 |  |  |  | 669 |
Sales of refined teas |  |  | 16 |  |  |  | 439 |  |  |  | 1,199 |
|  |  | 24,306 |  |  |  | 24,122 |  |  |  | 15,014 |
Segment information Operating segments are components of public entities that engage in business activities from which they may earn revenues and incur expenses for which separate financial information is available and which is evaluated regularly by the Company’s chief operating decision maker (“CODM”) in deciding how to assess performance and allocate resources. The Company’s CODM assesses performance and allocates resources based on two reporting segments: primarily-processed teas and refined teas. Total revenues represent sales to unaffiliated customers, as reported in the Consolidated Statements of Operations. The Company evaluates the segments’ performance based on direct margins (gross profit) from operations before selling and distribution costs, administrative expenses, finance costs, other income (expense) and income taxes. Information by operating segment is as follows:
| Year ended December 31, |
| 2022 |  | 2023 |  |  | 2024 |
| USD’000 |  | USD’000 |  |  | USD’000 |
Revenues: |  |  |  |  |  |  |
Sales of primarily-processed teas | 24,290 |  |  | 23,683 |  |  |  | 13,815 |
Sales of refined teas | 16 |  |  | 439 |  |  |  | 1,199 |
| 24,306 |  |  | 24,122 |  |  |  | 15,014 |
Cost of sales: |  |  |  |  |  |  |  |  |
Sales of primarily-processed teas | 11,653 |  |  | 11,269 |  |  |  | 10,427 |
Sales of refined teas | 3 |  |  | 69 |  |  |  | 657 |
| 11,656 |  |  | 11,338 |  |  |  | 11,084 |
Segment results: |  |  |  |  |  |  |  |  |
Sales of primarily-processed teas | 12,637 |  |  | 12,414 |  |  |  | 3,388 |
Sales of refined teas | 13 |  |  | 370 |  |  |  | 542 |
| 12,650 |  |  | 12,784 |  |  |  | 3,930 |
No geographical information is presented as all of the Group’s business is carried out in the PRC and from which the Group’s revenue from external customers is generated. During the years ended December 31, 2022, 2023 and 2024, none of independent third-party customers accounted for more than 10% of the Group’s total revenue. Measurement of segment assets and liabilities is not provided regularly to the Group’s CODM and accordingly, no segment assets and liabilities information is presented. Management considered the operating expenses cannot be effectively allocated to each segment.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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