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Segment Information | 6 Months Ended
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Jun. 30, 2022
Segment Information |
Segment Information | Note 17 – Segment Information The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Due to business strategic changes, the Company merged consumer products segment and trading segment, and we start to provided commercial factoring business during six months ended June 30, 2022As a result, the Company has determined that it has three operating segments as defined by ASC 280, “Segment Reporting”: consumer products, electric vehicles (“EV”) and commercial factoring. Consumer products segment manufactures, sell and trade Charcoal Doctor branded products and BBQ charcoal in China. The EV segment manufactures and sell electric vehicles. Commercial factoring segment provided factoring business. Management, including the chief operating decision maker, reviews operation results of consumer products, electric vehicles and commercial factoring separately. Adjustments and eliminations of inter-company transactions were not included in determining segment (loss) profit, as they are not used by the chief operating decision maker. The following table presents summary information by segment for the six months ended June 30, 2022 and 2021, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Consumer Products |  | EV |  | Commercial Factoring | ​ | Total
​ | ​ | Six months | ​ | Six months | ​ | Six months | ​ | Six months | ​ | Six months | ​ | Six months | ​ | Six months | ​ | Six months
​ | ​ | ended | ​ | ended | ​ | ended | ​ | ended | ​ | ended | ​ | ended | ​ | ended | ​ | ended
​ |  | June 30, 2022 |  | June 30, 2021 |  | June 30, 2022 |  | June 30, 2021 |  | June 30, 2022 |  | June 30, 2021 |  | June 30, 2022 |  | June 30, 2021
Revenue from external customers | ​ | $ | 26,290,353 | ​ | $ | 20,447,438 | ​ | $ | 679,064 | ​ | $ | 185,750 | ​ | $ | 56,311 |  | $ | — | ​ | $ | 27,025,728 | ​ | $ | 20,633,188
Revenue from inter segment | ​ |  | (722,763) | ​ |  | (375,539) | ​ |  | — | ​ |  | — | ​ |  | — |  | ​ | — | ​ | ​ | (722,763) | ​ |  | (375,539)
Cost of revenue | ​ |  | 21,221,909 | ​ |  | 16,546,125 | ​ |  | 665,540 | ​ |  | 114,262 | ​ |  | 4,063 |  | ​ | — | ​ | ​ | 21,891,512 | ​ |  | 16,660,387
Gross profit | ​ |  | 5,068,444 | ​ |  | 3,901,313 | ​ |  | 13,524 | ​ |  | 71,488 | ​ |  | 52,248 |  | ​ | — | ​ | ​ | 5,134,216 | ​ |  | 3,972,801
Interest Expenses | ​ |  | 106,978 | ​ |  | 137,594 | ​ |  | — | ​ |  | — | ​ |  | — |  | ​ | — | ​ | ​ | 106,978 | ​ |  | 137,594
Depreciation & amortization | ​ |  | 125,705 | ​ |  | 140,507 | ​ |  | 79,014 | ​ |  | 329,842 | ​ |  | — |  | ​ | — | ​ | ​ | 204,719 | ​ |  | 470,349
Capital expenditure | ​ |  | 13,951 | ​ |  | — | ​ |  | 7,928 | ​ |  | 5,086 | ​ |  | — |  | ​ | — | ​ | ​ | 21,879 | ​ |  | 5,086
Segment assets | ​ |  | 87,936,955 | ​ |  | 108,333,237 | ​ |  | 4,680,964 | ​ |  | 12,152,496 | ​ |  | 43,609,852 |  | ​ | — | ​ | ​ | 136,227,771 | ​ |  | 120,485,733
Segment profit | ​ | $ | 2,754,183 | ​ | $ | 199,180 | ​ | $ | (916,312) | ​ | $ | (6,951,392) | ​ | ​ | 34,373 |  | ​ | — | ​ | $ | 1,872,244 | ​ | $ | (6,752,212)
​ ​ Note 17 – Segment Information (continued) All of the Company’s long-lived assets are located in the PRC. Geographic information about the revenues, which are classified based on customers, is set out as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the six months ended June 30,
​ |  | 2022 |  | 2021
Revenue from China | ​ | $ | 27,025,728 | ​ | $ | 20,633,188
Revenue directly from foreign countries | ​ |  | — | ​ |  | —
Total Revenue | ​ | $ | 27,025,728 | ​ | $ | 20,633,188
​

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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