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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of Financial Information for Reportable Segments | Summarized financial information for the three reportable segments is as follows:
|  | Year Ended |
|  | December 31, 2023 |
|  | Dongfang |  |  | Tengsheng |  |  | Baoding |  |  | Not Attributable |  |  | Elimination of |  |  | Enterprise-wide, |
|  | Paper |  |  | Paper |  |  | Shengde |  |  | to Segments |  |  | Inter-segment |  |  | consolidated |
Revenues |  | $ | 85,106,864 |  |  |  | 1,334,022 |  |  |  | 106,064 |  |  |  | - |  |  |  | - |  |  |  | 86,546,950 |
Gross profit |  |  | 4,006,381 |  |  |  | (2,995,369 | ) |  |  | (11,127 | ) |  |  | - |  |  |  | - |  |  |  | 999,885 |
Depreciation and amortization |  |  | 4,168,755 |  |  |  | 8,470,810 |  |  |  | 1,586,425 |  |  |  | - |  |  |  | - |  |  |  | 14,225,990 |
Loss on impairment of assets |  |  | 905,226 |  |  |  | 219,744 |  |  |  | 375,328 |  |  |  | - |  |  |  | - |  |  |  | 1,500,298 |
Interest income |  |  | 300,928 |  |  |  | 2,376 |  |  |  | 9,790 |  |  |  | 2,002 |  |  |  | - |  |  |  | 315,096 |
Interest expense |  |  | 503,740 |  |  |  | 181,447 |  |  |  | 291,675 |  |  |  | 7,656 |  |  |  | - |  |  |  | 984,518 |
Income tax expense(benefit) |  |  | 346,954 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 346,954 |
Net income (loss) |  |  | (109,770 | ) |  |  | (9,004,792 | ) |  |  | (726,065 | ) |  |  | (105,408 | ) |  |  | - |  |  |  | (9,946,035 | )
|  | Year Ended |
|  | December 31, 2022 |
|  | Dongfang |  |  | Tengsheng |  |  | Baoding |  |  | Not Attributable |  |  | Elimination of |  |  | Enterprise-wide, |
|  | Paper |  |  | Paper |  |  | Shengde |  |  | to Segments |  |  | Inter-segment |  |  | consolidated |
Revenues |  | $ | 98,725,408 |  |  |  | 1,369,206 |  |  |  | 257,820 |  |  |  | - |  |  |  | - |  |  |  | 100,352,434 |
Gross profit |  |  | 7,629,761 |  |  |  | (2,942,893 | ) |  |  | 67,328 |  |  |  | - |  |  |  | - |  |  |  | 4,754,196 |
Depreciation and amortization |  |  | 4,782,157 |  |  |  | 8,349,374 |  |  |  | 1,656,505 |  |  |  | - |  |  |  | - |  |  |  | 14,788,036 |
Interest income |  |  | 12,820 |  |  |  | 1,209 |  |  |  | 8,684 |  |  |  | 1,551 |  |  |  | - |  |  |  | 24,264 |
Interest expense |  |  | 653,525 |  |  |  | 54,180 |  |  |  | 320,246 |  |  |  | - |  |  |  | - |  |  |  | 1,027,951 |
Income tax expense(benefit) |  |  | 3,054,208 |  |  |  | 7,062,139 |  |  |  | 1,579,930 |  |  |  | 15,062 |  |  |  | - |  |  |  | 11,711,339 |
Net income (loss) |  |  | 780,465 |  |  |  | (17,162,887 | ) |  |  | (1,100,286 | ) |  |  | 880,406 |  |  |  | 30,994 |  |  |  | (16,571,308 | )
|  | As of December 31, 2023 |
|  | Dongfang Paper |  |  | Tengsheng Paper |  |  | Baoding Shengde |  |  | Not Attributable to Segments |  |  | Elimination of Inter-segment |  |  | Enterprise-wide, consolidated |
Total assets |  | $ | 57,139,592 |  |  |  | 127,734,031 |  |  |  | 8,184,902 |  |  |  | 1,685,124 |  |  |  | - |  |  |  | 194,743,649 |
|  | As of December 31, 2022 |
|  | Dongfang Paper |  |  | Tengsheng Paper |  |  | Baoding Shengde |  |  | Not Attributable to Segments |  |  | Elimination of Inter-segment |  |  | Enterprise-wide, consolidated |
Total assets |  | $ | 63,365,986 |  |  |  | 117,645,828 |  |  |  | 17,945,969 |  |  |  | 5,489,450 |  |  |  | - |  |  |  | 204,447,233 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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