XML 50 R25.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Reporting
 12 Months Ended
Dec. 31, 2024
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 three business operating segments: Dongfang Paper and Tengsheng Paper, which produces offset printing paper, corrugating medium paper and tissue paper, and Baoding Shengde, which produces face masks and 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 among 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 three reportable segments is as follows:

 

   Year Ended December 31, 2024 
   Dongfang   Tengsheng   Baoding   Not Attributable   Elimination of   Enterprise-wide, 
   Paper   Paper   Shengde   to Segments   Inter-segment   consolidated 
                         
Revenues  $75,702,427    135,516    
-
    
-
    
-
    75,837,943 
Gross profit   6,556,487    135,253    
-
    
-
    
-
    6,691,740 
Depreciation and amortization   3,842,408    8,814,279    1,564,395    
-
    
-
    14,221,082 
Loss on impairment of assets   
-
    
-
    102,490    
-
    
-
    102,490 
Interest income   12,316    1,845    598    34    
-
    14,793 
Interest expense   356,788    94,334    296,891    14,364    
-
    762,377 
Income tax expense   842,401    
-
    
-
    36,793    
-
    879,194 
Net income (loss)   2,161,939    (10,051,366)   (440,633)   (1,513,034)   
-
    (9,843,094)

 

   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)

 

   As of December 31, 2024 
   Dongfang   Tengsheng   Baoding   Not Attributable
   Elimination of   Enterprise-wide, 
   Paper   Paper   Shengde   to Segments   Inter-segment   consolidated 
                               
Total assets  $54,180,471    116,390,854    6,020,713    954,748    
-
    177,546,786 

 

   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