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Segment Reporting
 12 Months Ended
Sep. 30, 2021
Disclosure of Segment Reporting [Abstract]  
SEGMENT REPORTING

17. SEGMENT REPORTING

 

The Company has determined that it operates in two operating segments: (1) Battery cells and packs segment, and (2) E-bicycle sales segment. The battery cells and packs segment engages in selling battery packs and trading battery cells. The e-bicycle sales segment sells e-bicycles on various e-commerce platforms to individual customers.

 

The Company’s CODM, chief executive officer, measures the performance of each segment based on metrics of revenue and profit before taxes from operations and uses these results to evaluate the performance of, and to allocate resources to each of the segments. As most of the Company’s long-lived assets are located in the PRC and most of the Company’s revenues are derived from the PRC, no geographical information is presented. The Company does not allocate assets to its segments as the CODM does not evaluate the performance of segments using asset information.

 

The following tables present the summary of each reportable segment’s revenue and income, which is considered as a segment operating performance measure, for the fiscal years ended September 30, 2019, 2020 and 2021:

 

   Fiscal year ended September 30, 2019 
   Battery
cells and
packs
segment		   E-bicycle
sales
segment		   Subtotal from operating
segments		   Other   Consolidated 
Revenues from external customers  $1,253,569   $104,080   $1,357,649   $13,552   $1,371,201 
Depreciation and amortization  $-   $(424)  $(424)  $(3,178)  $(3,602)
Segment income before tax  $1,119,568   $32,994   $1,152,562   $(111,499)  $1,041,063 
Segment gross profit margin   96%   (2)%   87%   39%   86%

 

   Fiscal year ended September 30, 2020 
   Battery
cells and
packs
segment		   E-bicycle
sales
segment		   Subtotal from operating
segments		   Other   Consolidated 
Revenues from external customers  $3,148,156   $11,165,290   $14,313,446   $929,836   $15,243,282 
Depreciation and amortization  $(2,318)  $(82,896)  $(85,214)  $(466)  $(85,680)
Segment income (loss) before tax  $251,731   $169,452   $421,183   $29,178   $450,361 
Segment gross profit margin   15%   9%   11%   10%   11%

 

   Fiscal year ended September 30, 2021 
   Battery
cells and
packs
segment		   E-bicycle
sales
segment		   Subtotal from operating
segments		   Other   Consolidated 
Revenues from external customers  $4,288,366   $18,232,537   $22,520,903   $901,103   $23,422,006 
Depreciation and amortization  $(804)  $(139,501)  $(140,305)  $(329,543)  $(469,848)
Segment income (loss) before tax  $16,902   $(2,034,515)  $(2,017,613)  $(1,779,032)  $(3,796,645)
Segment gross profit margin   3.2%   1.6%   1.9%   (4.4%)   1.6%

 

The following table presents the reconciliation from reportable segment income to the consolidated income from continuing operations before income taxes for the years ended September 30, 2019, 2020 and 2021:

 

   For the fiscal years ended
September 30,		 
   2019   2020   2021 
Net revenues            
Total revenues from reportable segments  $1,357,649   $14,313,446   $22,520,903 
Other revenues   13,552    929,836    901,103 
Consolidated net revenues  $1,371,201   $15,243,282   $23,422,006 
                
Income or loss               
Total operating income (loss) for reportable segments  $1,149,103   $186,758   $(2,040,656)
Other income for reportable segments   3,459    234,425    23,043 
Total income for reportable segments   1,152,562    421,183    (2,017,613)
                
Unallocated amounts:               
Other corporate (expense) gain   (111,499)   29,178    (1,779,032)
Consolidated income from continuing operations before income taxes  $1,041,063   $450,361   $(3,796,645)