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SEGMENT REPORTING | 6 Months Ended | 12 Months Ended
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Jun. 30, 2024 | Dec. 31, 2023
Segment Reporting [Abstract] |  |
SEGMENT REPORTING | 15. SEGMENT REPORTING ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the chief operating decision maker, reviews operation results by the revenue of different products or services. Based on management’s assessment, the Company has determined that it has three operating segments as defined by ASC 280, including Clean Food platform, restaurant, and others. Adjustments and eliminations of inter-company transactions were not included in determining segment (loss) profit, as they are not used by the chief operating decision maker. The following table presents summary information by segment for the six months ended June 30, 2024 and 2023, respectively: SCHEDULE OF SEGMENT REPORTING
|  | For the six months ended June 30, 2024 |
|  | Clean Food Platform |  |  | Technical Service |  |  | Total |
Revenues |  | $ | 86,159 |  |  | $ | - |  |  | $ | 86,159 |
Cost of goods sold |  |  | 42,089 |  |  |  | - |  |  |  | 42,089 |
Gross profit |  |  | 44,070 |  |  |  |  |  |  |  | 44,070 |
Depreciation and amortization |  |  | 43,122 |  |  |  | - |  |  |  | 43,122 |
Capital expenditures |  |  | - |  |  |  | - |  |  |  | - |
Loss from operations |  |  | (715,437 | ) |  |  | (13,056 | ) |  |  | (728,493 | )
Income tax benefits |  |  | - |  |  |  | 371,568 |  |  |  | 371,568 |
Segment (loss) profit |  |  | (704,124 | ) |  |  | 358,513 |  |  |  | (345,611 | )
Segment assets |  | $ | 17,783,610 |  |  | $ | 2,271,195 |  |  | $ | 20,054,805 |
|  | For the six months ended June 30, 2023 |
|  | Clean Food Platform |  |  | Technical Service |  |  | Total |
Revenues |  | $ | 2,326,966 |  |  | $ | 8,356,277 |  |  | $ | 10,683,243 |
Cost of goods sold |  |  | 969,172 |  |  |  | 7,259,205 |  |  |  | 8,228,377 |
Gross profit |  |  | 1,357,794 |  |  |  | 1,097,072 |  |  |  | 2,454,866 |
Depreciation and amortization |  |  | 83,490 |  |  |  | - |  |  |  | 83,490 |
Capital expenditures |  |  | 5,496 |  |  |  | - |  |  |  | 5,496 |
(Loss) Income from operations |  |  | (696,346 | ) |  |  | 737,558 |  |  |  | 41,212 |
Provision for income taxes |  |  | (511 | ) |  |  | (210,857 | ) |  |  | (211,368 | )
Segment (loss) profit |  |  | (805,328 | ) |  |  | 526,702 |  |  |  | (278,626 | )
Segment assets |  | $ | 26,036,470 |  |  | $ | 11,463,372 |  |  | $ | 37,499,842 |
MEIWU TECHNOLOGY COMPANY LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | 16. SEGMENT REPORTING ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the chief operating decision maker, reviews operation results by the revenue of different products or services. Based on management’s assessment, the Company has determined that it has three operating segments as defined by ASC 280, including Clean Food platform, restaurant, and others. Adjustments and eliminations of inter-company transactions were not included in determining segment (loss) profit, as they are not used by the chief operating decision maker. The following table presents summary information by segment for the years ended December 2023, 2022 and 2021 respectively: SCHEDULE OF SEGMENT REPORTING
|  | Clean Food Platform |  |  | Technical Service |  |  | Total |
|  | For the year ended December 31, 2023 |
|  | Clean Food Platform |  |  | Technical Service |  |  | Total |
Revenues |  | $ | 2,513,483 |  |  | $ | 8,463,946 |  |  | $ | 10,977,429 |
Cost of goods sold |  |  | 750,383 |  |  |  | 7,643,981 |  |  |  | 8,394,364 |
Gross profit |  |  | 1,763,100 |  |  |  | 819,965 |  |  |  | 2,583,065 |
Depreciation and amortization |  |  | 183,097 |  |  |  | - |  |  |  | 183,097 |
Capital expenditures |  |  | 5,539 |  |  |  | - |  |  |  | - |
(Loss) from operations |  |  | (2,106,150 | ) |  |  | 589,364 |  |  |  | (1,516,786 | )
Provision for income taxes |  |  | 927 |  |  |  | 206,313 |  |  |  | 207,240 |
Segment loss |  |  | (9,775,749 | ) |  |  | (6,536,956 | ) |  |  | (16,312,705 | )
Segment assets |  | $ | 17,657,856 |  |  | $ | 2,926,423 |  |  | $ | 20,584,279 |
|  | Clean Food Platform |  |  | Technical Service |  |  | Total |
|  | For the year ended December 31, 2022 |
|  | Clean Food Platform |  |  | Technical Service |  |  | Total |
Revenues |  | $ | 2,144,217 |  |  | $ | 8,834,354 |  |  | $ | 10,978,571 |
Cost of goods sold |  |  | 1,905,036 |  |  |  | 7,898,847 |  |  |  | 9,803,883 |
Gross profit |  |  | 239,181 |  |  |  | 935,507 |  |  |  | 1,174,688 |
Depreciation and amortization |  |  | 87,973 |  |  |  | - |  |  |  | 87,973 |
Capital expenditures |  |  | 19,437 |  |  |  | 6,479 |  |  |  | 25,916 |
Loss from operations |  |  | (3,543,160 | ) |  |  | (196,210 | ) |  |  | (3,739,370 | )
Provision for income taxes |  |  | 8,917 |  |  |  | 202,227 |  |  |  | 211,144 |
Segment loss |  |  | (4,576,496 | ) |  |  | (6,643,355 | ) |  |  | (11,219,851 | )
Segment assets |  | $ | 36,397,974 |  |  | $ | 1,597,667 |  |  | $ | 37,995,641 |
|  | Clean Food Platform |  |  | Restaurant |  |  | Others |  |  | Total |
|  | For the year ended December 31, 2021 |
|  | Clean Food Platform |  |  | Restaurant |  |  | Others |  |  | Total |
Revenues |  | $ | 12,145,531 |  |  | $ | 100,945 |  |  | $ | 11,975 |  |  | $ | 12,258,451 |
Cost of goods sold |  |  | 9,343,635 |  |  |  | 74,949 |  |  |  | 22 |  |  |  | 9,418,606 |
Gross profit |  |  | 2,801,896 |  |  |  | 25,996 |  |  |  | 11,953 |  |  |  | 2,839,845 |
Depreciation and amortization |  |  | 237,366 |  |  |  | 124,215 |  |  |  | 26,738 |  |  |  | 388,319 |
Capital expenditures |  |  | 49,772 |  |  |  | 2,912 |  |  |  | 28,513 |  |  |  | 81,197 |
Loss from operations |  |  | (693,466 | ) |  |  | (259,274 | ) |  |  | (148,957 | ) |  |  | (1,101,697 | )
Provision for income taxes |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Segment loss |  |  | (712,163 | ) |  |  | (256,503 | ) |  |  | (148,920 | ) |  |  | (1,117,586 | )
Segment assets |  | $ | 1,891,075 |  |  | $ | 123,940 |  |  | $ | 26,275,025 |  |  | $ | 28,290,040 |
MEIWU TECHNOLOGY COMPANY LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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