XML 39 R22.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Segment Reporting | 9 Months Ended
--- | ---
Sep. 30, 2017
Segment Reporting [Abstract] |
Segment Reporting | (17) 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 Xushui County, 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 |
|  | September 30, 2017 |
|  | Orient Paper |  |  | Orient Paper |  |  | Not Attributable |  |  | Elimination of |  |  | Enterprise-wide, |
|  | HB |  |  | Shengde |  |  | to Segments |  |  | Inter-segment |  |  | consolidated |
Revenues |  | $ | 33,507,053 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 33,507,053 |
Gross profit |  |  | 7,221,288 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 7,221,288 |
Depreciation and amortization |  |  | 3,497,635 |  |  |  | 231,367 |  |  |  | - |  |  |  | - |  |  |  | 3,729,002 |
Loss from disposal of property, plant and equipment |  |  | (1,653,039 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,653,039 | )
Interest income |  |  | 3,548 |  |  |  | 1,955 |  |  |  | - |  |  |  | - |  |  |  | 5,503 |
Interest expense |  |  | 604,351 |  |  |  | 43,612 |  |  |  | - |  |  |  | - |  |  |  | 647,963 |
Income tax expense(benefit) |  |  | 579,232 |  |  |  | (74,067 | ) |  |  | - |  |  |  | - |  |  |  | 505,165 |
Net income (loss) |  |  | 1,916,821 |  |  |  | (225,778 | ) |  |  | (118,708 | ) |  |  | - |  |  |  | 1,572,335 |
|  | Three Months Ended |
|  | September 30, 2016 |
|  | Orient Paper |  |  | Orient Paper |  |  | Not Attributable |  |  | Elimination of |  |  | Enterprise-wide, |
|  | HB |  |  | Shengde |  |  | to Segments |  |  | Inter-segment |  |  | consolidated |
Revenues |  | $ | 37,397,395 |  |  | $ | 64,671 |  |  | $ | - |  |  | $ | - |  |  | $ | 37,462,066 |
Gross profit (loss) |  |  | 7,347,908 |  |  |  | (17,065 | ) |  |  | - |  |  |  | - |  |  |  | 7,330,843 |
Depreciation and amortization |  |  | 3,485,154 |  |  |  | 230,868 |  |  |  | - |  |  |  | - |  |  |  | 3,716,022 |
Loss from disposal of property, plant and equipment |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Interest income |  |  | 14,568 |  |  |  | 264 |  |  |  | - |  |  |  | - |  |  |  | 14,832 |
Interest expense |  |  | 677,576 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 677,576 |
Income tax expense(benefit) |  |  | 1,098,270 |  |  |  | (64,411 | ) |  |  | - |  |  |  | - |  |  |  | 1,033,859 |
Net income (loss) |  |  | 3,313,671 |  |  |  | (196,558 | ) |  |  | (82,571 | ) |  |  | - |  |  |  | 3,034,542 |
|  | Nine Months Ended |
|  | September 30, 2017 |
|  | Orient Paper |  |  | Orient Paper |  |  | Not Attributable |  |  | Elimination of |  |  | Enterprise-wide, |
|  | HB |  |  | Shengde |  |  | to Segments |  |  | Inter-segment |  |  | consolidated |
Revenues |  | $ | 81,584,395 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 81,584,395 |
Gross profit |  |  | 16,339,874 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 16,339,874 |
Depreciation and amortization |  |  | 10,247,936 |  |  |  | 680,566 |  |  |  | - |  |  |  | - |  |  |  | 10,928,502 |
Loss from disposal of property, plant and equipment |  |  | (1,665,140 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,665,140 | )
Interest income |  |  | 25,767 |  |  |  | 3,492 |  |  |  | - |  |  |  | - |  |  |  | 29,259 |
Interest expense |  |  | 1,953,379 |  |  |  | 70,198 |  |  |  | - |  |  |  | - |  |  |  | 2,023,577 |
Income tax expense(benefit) |  |  | 1,402,558 |  |  |  | (296,630 | ) |  |  | - |  |  |  | - |  |  |  | 1,105,928 |
Net income (loss) |  |  | 4,350,831 |  |  |  | (516,705 | ) |  |  | (538,005 | ) |  |  | - |  |  |  | 3,296,121 |
|  | As of September 30, 2017 |
|  | Orient |  |  | Orient |  |  | Not |  |  | Elimination |  |  | Enterprise- |
|  | Paper |  |  | Paper |  |  | Attributable |  |  | of |  |  | wide, |
|  | HB |  |  | Shengde |  |  | to Segments |  |  | Inter-segment |  |  | consolidated |
Total assets |  | $ | 191,096,727 |  |  | $ | 30,480,117 |  |  | $ | 276 |  |  | $ | - |  |  | $ | 221,577,120 |
|  | Nine Months Ended |
|  | September 30, 2016 |
|  | Orient Paper |  |  | Orient Paper |  |  | Not Attributable |  |  | Elimination of |  |  | Enterprise-wide, |
|  | HB |  |  | Shengde |  |  | to Segments |  |  | Inter-segment |  |  | consolidated |
Revenues |  | $ | 102,703,977 |  |  | $ | 664,314 |  |  | $ | - |  |  | $ | - |  |  | $ | 103,368,291 |
Gross profit (loss) |  |  | 18,376,724 |  |  |  | (390,243 | ) |  |  | - |  |  |  | - |  |  |  | 17,986,481 |
Depreciation and amortization |  |  | 10,966,088 |  |  |  | 702,888 |  |  |  | - |  |  |  | - |  |  |  | 11,668,976 |
Loss from disposal of property, plant and equipment |  |  | (25,774 | ) |  |  | - |  |  |  | - |  |  |  |  |  |  |  | (25,774 | )
Interest income |  |  | 94,430 |  |  |  | 796 |  |  |  | - |  |  |  | - |  |  |  | 95,226 |
Interest expense |  |  | 2,094,448 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,094,448 |
Income tax expense(benefit) |  |  | 2,248,946 |  |  |  | (171,120 | ) |  |  | - |  |  |  | - |  |  |  | 2,077,826 |
Net income (loss) |  |  | 6,747,378 |  |  |  | (559,747 | ) |  |  | (1,945,380 | ) |  |  | - |  |  |  | 4,242,251 |
|  | As of December 31, 2016 |
|  | Orient |  |  | Orient |  |  | Not |  |  | Elimination |  |  | Enterprise- |
|  | Paper |  |  | Paper |  |  | Attributable |  |  | of |  |  | wide, |
|  | HB |  |  | Shengde |  |  | to Segments |  |  | Inter-segment |  |  | consolidated |
Total assets |  | $ | 179,689,131 |  |  | $ | 28,687,027 |  |  | $ | 1,460 |  |  | $ | - |  |  | $ | 208,377,618 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration