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Segment Reporting
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segment Reporting

(17) 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 and single-use face masks. 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 District, Baoding City, Hebei Province, China. All sales were sold to customers located in the PRC.


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


   Three Months Ended 
   June 30, 2020 
   Dongfang   Hebei   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Tengsheng   Shengde   to Segments   Inter-segment   consolidated 
                         
Revenues  $23,136,915   $2,379,806   $845,552   $-   $           -   $26,362,273 
Gross profit   2,429,407    (373,977)   503,399    -    -    2,558,829 
Depreciation and amortization   1,617,412    2,105,130    (902)   -    -    3,721,640 
Interest income   7,577    464    1,410    -    -    9,451 
Interest expense   165,416    -    76,020    -    -    241,436 
Income tax expense(benefit)   357,463    (525,769)   88,865    -    -    (79,441)
Net income (loss)   1,441,234    (1,349,174)   324,495    (1,396,586)   -    (980,031)

   Three Months Ended 
   June 30, 2019 
   Dongfang   Hebei   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Tengsheng   Shengde   to Segments   Inter-segment   consolidated 
                         
Revenues  $32,413,830   $1,206,118   $-   $-   $-   $33,619,948 
Gross profit   3,581,797    (673,668)   -    -    -    2,908,129 
Depreciation and amortization   1,656,695    2,202,698    6    -    -    3,859,399 
Interest income   1,468    26    62    -    -    1,556 
Interest expense   199,615    -    39,156    -    -    238,771 
Income tax expense(benefit)   631,292    (550,448)   (14,921)   14,747    -    80,670 
Net income (loss)   2,480,493    (1,980,144)   (33,415)   (48,261)   31,397    450,070 

   Six Months Ended 
   June 30, 2020 
   Dongfang   Hebei   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Tengsheng   Shengde   to Segments   Inter-segment   consolidated 
                         
Revenues  $30,874,417   $3,386,155   $845,552   $-   $         -   $35,106,124 
Gross profit   2,971,562    (1,085,851)   503,399    -    -    2,389,110 
Depreciation and amortization   3,124,039    4,240,501    131,774    -    -    7,496,314 
Interest income   13,094    547    1,600    -    -    15,241 
Interest expense   332,997    -    153,157    -    -    486,154 
Income tax expense(benefit)   349,100    (1,048,685)   79,102    14,717    -    (605,766)
Net income (loss)   945,149    (2,944,112)   124,098    (1,541,453)   -    (3,416,318)

   Six Months Ended 
   June 30, 2019 
   Dongfang   Hebei   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Tengsheng   Shengde   to Segments   Inter-segment   consolidated 
                         
Revenues  $49,864,122   $1,206,118   $-   $-   $-   $51,070,240 
Gross profit   3,389,331    (673,668)   -    -    -    2,715,663 
Depreciation and amortization   5,586,749    2,202,698    12    -    -    7,789,459 
Loss from impairment and disposal of property, plant and equipment   -    -    -    -    -    - 
Interest income   60,195    26    153    -    -    60,374 
Interest expense   412,491    -    81,549    -    -    494,040 
Income tax expense(benefit)   8,988    (550,448)   (40,412)   14,747    -    (567,125)
Net income (loss)   39,665    (1,980,144)   (72,222)   (291,221)   31,397    (2,272,525)
                               
   As of June 30, 2020 
   Dongfang   Hebei   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Tengsheng   Shengde   to Segments   Inter-segment   consolidated 
                                        
Total assets  $70,525,495    96,637,401    18,062,459    206,911    -    185,432,266 
                               
   As of December 31, 2019 
   Dongfang   Hebei   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Tengsheng   Shengde   to Segments   Inter-segment   consolidated 
                                           
Total assets  $73,347,811    99,747,236    17,031,392    71,991    -    190,198,430