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Segment Reporting
 6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Segment Reporting

(18) Segment Reporting

 

Since March 10, 2010, Orient Paper Shengde started its operations and thereafter the Company manages its operations through two business operating segments: Orient Paper HB, which produces offset printing paper and corrugating medium paper, and Orient Paper Shengde, which produces digital photo paper. They are managed separately because each business requires different technology and marketing strategies. 

 

The Company evaluates performance of its operating segments based on net income. Administrative functions such as finance, treasury, and information systems are centralized. However, where applicable, portions of the administrative function expenses are allocated between the operating segments based on gross revenue generated. The operating segments do share facilities in XushuiCounty, Baoding City, Hebei Province, China. All sales were sold to customers located in the PRC. 

 

Summarized financial information for the two reportable segments is as follows: 

 

  Three Months Ended 
  June 30, 2016 
  Orient Paper  Orient Paper  Not Attributable  Elimination  Enterprise-wide, 
  HB  Shengde  to Segments  of Inter-segment  consolidated 
                
Revenues $37,705,017  $286,875  $-  $-  $37,991,892 
Gross Profit (Loss)  7,018,870   (129,116)  -   -   6,889,754 
Depreciation and amortization  3,550,017   235,264   -   -   3,785,281 
Interest income  49,317   290   -   -   49,607 
Interest expense  695,983   -   -   -   695,983 
Income tax expense(benefit)  989,702   (49,161)  -   -   940,541 
Net Income (Loss)  2,985,112   (190,551)  (212,955)  -   2,581,606 

 

  Three Months Ended 
  June 30, 2015 
  Orient Paper  Orient Paper  Not Attributable  Elimination of  Enterprise-wide, 
  HB  Shengde  to Segments  Inter-segment  consolidated 
                
Revenues $41,257,361  $25,781  $-  $-  $41,283,142 
Gross Profit  10,479,380   4,134   -   -   10,483,514 
Depreciation and amortization  2,324,494   252,839   -   -   2,577,333 
Interest income  5,933   458   -   -   6,391 
Interest expense  1,135,893   -   -   -   1,135,893 
Income tax expense(benefit)  2,050,158   (73,647)  -   -   1,976,511 
Net Income (Loss)  6,145,299   (249,371)  (305,398)  -   5,590,530 

 

  Six Months Ended 
  June 30, 2016 
  Orient Paper  Orient Paper  Not Attributable  Elimination of  Enterprise-wide, 
  HB  Shengde  to Segments  Inter-segment  consolidated 
                
Revenues $65,306,582  $599,643  $-  $-  $65,906,225 
Gross Profit (Loss)  11,028,817   (373,179)  -   -   10,655,638 
Depreciation and amortization  7,480,934   472,020   -   -   7,952,954 
Interest income  79,862   532   -   -   80,394 
Interest expense  1,416,872   -   -   -   1,416,872 
Income tax expense(benefit)  1,150,676   (106,709)  -   -   1,043,967 
Net Income (Loss)  3,433,708   (363,190)  (1,862,809)  -   1,207,709 

 

  As of June 30, 2016 
  Orient Paper 
HB		  Orient Paper Shengde  Not Attributable to Segments  Elimination of
Inter-segment		  Enterprise-wide, consolidated 
                     
Total Assets $187,839,881  $31,423,662  $6,972  $-  $219,270,515 

  

  Six Months Ended 
  June 30, 2015 
  Orient Paper  Orient Paper  Not Attributable  Elimination of  Enterprise-wide, 
  HB  Shengde  to Segments  Inter-segment  consolidated 
                
Revenues $67,761,705  $25,781  $-  $-  $67,787,486 
Gross Profit  15,466,113   4,134   -   -   15,470,247 
Depreciation and amortization  4,587,182   505,035   -   -   5,092,217 
Interest income  54,249   950   -   -   55,199 
Interest expense  1,784,111   -   -   -   1,784,111 
Income tax expense(benefit)  2,924,412   (142,416)  -   -   2,781,996 
Net Income (Loss)  8,783,417   (481,118)  (606,280)  -   7,696,019 

 

  As of December 31, 2015 
  Orient Paper HB  Orient Paper Shengde  Not Attributable to Segments  Elimination of
Inter-segment		  Enterprise-wide, consolidated 
                     
Total Assets $205,117,348  $33,500,731  $8,840  $-  $238,626,919