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Segment Reporting

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

(16) Segment Reporting

Since March 10, 2010, Baoding Shengde started its operations and thereafter the Company manages its operations through two business operating segments: Dongfang Paper, which produces offset printing paper and corrugating medium paper, and Baoding 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: 

		Year Ended
		December 31, 2019
		Dongfang				Hebei				Baoding				Not Attributable				Elimination				Enterprise-wide,
		Paper				Tengsheng				Shengde				to Segments				of Inter-segment				consolidated
Revenues		$	113,072,638			$	4,541,099			$	1,149			$	-			$	-			$	117,614,886
Gross profit			15,722,266				(2,030,942	)			(11,806	)			-				-				13,679,518
Depreciation and amortization			8,812,363				6,491,653				23				-				-				15,304,039
Loss from impairment and disposal of property, plant and equipment			-				-				-				-				-				-
Interest income			64,313				108				296				-				-				64,717
Interest expense			758,177				-				168,191				-				-				926,368
Income tax expense(benefit)			2,769,607				(1,632,012	)			(76,239	)			14,747				-				1,076,103
Net income (loss)			8,302,244				(5,444,598	)			(157,607	)			(478,857	)							2,221,182
Total Assets			73,347,811				99,747,236				17,031,392				71,991				-				190,198,430

		Year Ended
		December 31, 2018
		Dongfang				Hebei				Baoding				Not Attributable				Elimination				Enterprise-wide,
		Paper				Tengsheng				Shengde				to Segments				of Inter-segment				consolidated
Revenues		$	86,733,136			$	-			$	13,622			$	-			$	-			$	86,746,758
Gross profit (loss)			5,823,725				-				(3,324	)			-				-				5,820,401
Depreciation and amortization			13,557,960				-				732,959				-				-				14,290,919
Loss from disposal of property, plant and equipment			9,881				-				3,894,461				-				-				3,904,342
Interest income			36,234				-				398				-				-				36,632
Interest expense			1,318,252				-				173,867				-				-				1,492,119
Income tax expense(benefit)			(1,623,468	)			-				(235,649	)			8,189				-				(1,850,928	)
Net income (loss)			(5,029,497	)			-				(4,612,001	)			(904,186	)			-				(10,545,684	)
Total assets			183,987,100				-				19,068,788				20,122				-				203,076,010

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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