Segment Reporting

12 Months Ended

Dec. 31, 2023

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, 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