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Segment Reporting
 6 Months Ended
Jun. 30, 2025
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:

 

   Three Months Ended 
   June 30, 2025 
   Dongfang   Tengsheng   Baoding   Not
Attributable		   Elimination of   Enterprise-
wide,		 
   Paper   Paper   Shengde   to Segments   Inter-segment   consolidated 
                         
Revenues  $24,794,641   $
    -
   $
    -
   $
        -
   $
               -
   $24,794,641 
Gross profit   1,273,745    
-
    
-
    
-
    
-
    1,273,745 
Depreciation and amortization   1,359,161    2,183,574    449    
-
    
-
    3,543,184 
Interest income   950    219    24    14    
-
    1,207 
Interest expense   79,104    
-
    61,256    3,611    
-
    143,971 
Income tax expense   837    
-
    
-
    45,991    
-
    46,828 
Net income (loss)   629,336    (2,218,151)   (76,027)   (286,984)   
-
    (1,951,826)

 

   Three Months Ended 
   June 30, 2024 
   Dongfang   Tengsheng   Baoding   Not  Attributable   Elimination of   Enterprise-
wide,		 
   Paper   Paper   Shengde   to Segments   Inter-segment   consolidated 
                         
Revenues   $26,212,815   $36,973   $
-
   $
-
   $
              -
   $26,249,788 
Gross profit    3,228,326    36,973    
-
    
-
    
-
    3,265,299 
Depreciation and amortization    893,311    2,096,538    391,246    
-
    
-
    3,381,095 
Interest income    2,088    548    170    1    
-
    2,807 
Interest expense    90,393    45,263    72,123    3,772    
-
    211,551 
Income tax expense    416,770    
-
    
-
    -    
-
    416,770 
Net income (loss)    2,202,788    (2,111,359)   (82,396)   (86,780)   
-
    (77,747)

 

   Six Months Ended 
   June 30, 2025 
   Dongfang   Tengsheng   Baoding   Not 
Attributable		   Elimination of    Enterprise-
wide,		 
   Paper   Paper   Shengde   to Segments   Inter-segment   consolidated 
                         
Revenues  $35,691,907    -    -        -                 -    35,691,907 
Gross profit   1,357,831    -    -    -    -    1,357,831 
Depreciation and amortization   2,720,610    4,369,523    449    -    -    7,090,582 
Interest income   2,414    478    44    15    -    2,951 
Interest expense   152,798    -    116,802    7,218    -    276,818 
Income tax expense   837    -    -    45,991    -    46,828 
Net loss   (418,771)   (4,414,021)   (141,336)   (481,483)   -    (5,455,611)
   Six Months Ended 
   June 30, 2024 
   Dongfang   Tengsheng   Baoding   Not 
Attributable		   Elimination of    Enterprise- 
wide,		 
   Paper   Paper   Shengde   to Segments   Inter-segment   consolidated 
                         
Revenues  $33,039,614    74,015    -    -            -    33,113,629 
Gross profit   3,590,661    73,751    -    -    -    3,664,412 
Depreciation and amortization   1,882,583    4,197,079    783,221    -    -    6,862,883 
Interest income   3,550    1,084    343    13    -    4,990 
Interest expense   179,900    90,117    144,368    7,456    -    421,841 
Income tax expense   416,770    -    -    36,793    -    453,563 
Net income (loss)   1,068,547    (4,234,116)   (136,908)   (521,806)   -    (3,824,283)

 

   As of June 30, 2025 
   Dongfang   Tengsheng   Baoding   Not
Attributable		   Elimination of    Enterprise -
wide,		 
   Paper   Paper   Shengde   to Segments   Inter-segment   consolidated 
                               
Total assets  $55,529,696    112,502,659    5,729,685    1,400,522           -    175,162,562 

 

    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