Segment Reporting

12 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

SEGMENT REPORTING

Note 19. SEGMENT REPORTING

ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in consolidated financial statements for detailing the Company’s business segments. 

The Company’s chief operating decision maker is the Chief Executive Officer, who reviews the financial information of the separate operating segments when making decisions about allocating resources and assessing the performance of the group. The Company has determined that it has three operating segments: (1) shipping agency and management services; (2) freight logistics services and (3) container trucking services.

The following tables present summary information by segment for the years ended June 30, 2021 and 2020, respectively:

	For the Year Ended June 30, 2021
	Shipping Agency and Management Services			Freight Logistics Services			Container Trucking Services			Total
Net revenues	$	206,845		$	4,944,187		$	-		$	5,151,032
Cost of revenues	$	176,968		$	4,797,427		$	-		$	4,974,394
Gross profit	$	29,878		$	146,760		$	-		$	176,638
Depreciation and amortization	$	299,934		$	36,300		$	-		$	336,234
Total capital expenditures	$	136,076		$	407,954		$	-		$	544,030
Gross margin%		14.4	%		3.0	%		-	%		3.4	%

	For the Year Ended June 30, 2020
	Shipping Agency and Management Services			Freight Logistics Services			Container Trucking Services			Total
Net revenues	$	2,105,651		$	4,368,596	*	$	61,709		$	6,535,956
Cost of revenues	$	827,690		$	2,795,859	*	$	55,314		$	3,678,863
Gross profit	$	1,277,961		$	1,572,737		$	6,395		$	2,857,093
Depreciation and amortization	$	340,421		$	7,684		$	54,189		$	402,294
Total capital expenditures	$	6,984		$	-		$	-		$	6,984
Gross margin%		60.7	%		36.0	%		10.4	%		43.7	%

* For certain freight logistics contracts that the Company entered into with customers starting from first quarter of fiscal year 2020, the Company (i) acts as an agent in arranging the relationship between the customer and the third-party service provider and (ii) does not control the services rendered to the customers, revenues related to these contracts are presented net of related costs. For the year ended June 30, 2020, gross revenues and gross cost of revenues related to these contracts amounted to approximately $25.8 million and $24.3 million, respectively. There was no such transaction for the year ended June 30, 2021.

Total assets as of:

	June 30,		June 30,
	2021		2020
Shipping Agency and Management Services	$	47,347,418	$	2,531,074
Freight Logistic Services		5,453,848		3,176,165
Container Trucking Services		1,851		30,863
Total Assets	$	52,803,117	$	5,738,102

The Company’s operations are primarily based in the PRC and U.S, where the Company derives all of their revenues. Management also review consolidated financial results by business locations.

Disaggregated information of revenues by geographic locations are as follows:

	For the Years Ended
	June 30,		June 30,
	2021		2020
PRC		4,921,022		4,368,596
U.S.		230,010		2,167,360
Total revenues	$	5,151,032	$	6,535,956