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Segment Reporting
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Reporting

(18) 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, 2020 
   Dongfang   Hebei   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Tengsheng   Shengde   to Segments   Inter-segment   consolidated 
Revenues  $91,426,671    8,414,654    1,101,944    -    -    100,943,269 
Gross profit   7,000,150    (1,828,214)   530,049    -    -    5,701,985 
Depreciation and amortization   7,039,687    8,613,750    140,417    -    -    15,793,854 
Interest income   27,046    1,770    3,217    -    -    32,033 
Interest expense   683,605    28,083    314,824    -    -    1,026,512 
Income tax expense(benefit)   967,408    (2,140,532)   56,550    14,717    -    (1,101,857)
Net income (loss)   2,849,742    (5,837,914)   (42,250)   (2,523,580)   -    (5,554,002)
Total Assets   79,206,447    102,056,291    18,589,570    22,166    -    199,874,474 

   Year Ended 
   December 31, 2019 
   Dongfang   Hebei   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Tengsheng   Shengde   to Segments   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