Segment Reporting

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Segment Reporting

Note 12 - Segment Reporting

We realize revenue primarily through the sale of synthetic rubber, rubber compound, car window seals, auto parts with two sales channels. The Company managed and reviewed its business as two operating and reporting segments: direct supply and indirect supply models.

The business line distribution of the Company’s information as of and for six months as well as three months ended June 30, 2023 and 2022 as following:

	For the six months ended June 30,						For the three months ended June 30,
	2023			2022			2023			2022
	(Unaudited)						(Unaudited)
Revenue:
Direct supply model	$	1,267,970		$	2,197,969		$	370,538			976,845
Indirect supply model		3,358,311			3,719,213			1,910,202			1,205,594
Total		4,626,281			5,917,182			2,280,740			2,182,439
Gross profit:
Direct supply model		24.3	%		17.8	%		68.9	%		11.9	%
Indirect supply model		0.1	%		(2	)%		(0.5	)%		(2.0	)%
Total		6.8	%		5.3	%		10.8	%		4.2	%
Income(loss) from operations:
Direct supply model		19,463			25,869			143,984			(52,999	)
Indirect supply model		(41,117	)		(165,734	)		(30,773	)		(83,006	)
Corporate		(101,088	)		(51,752	)		(61,294	)		(33,766	)
Total		(122,742	)		(191,617	)		51,917			(169,770	)
Net income(loss)
Direct supply model		(76,700	)		(82,214	)		63,428			(114,245	)
Indirect supply model		(41,117	)		(165,734	)		(30,773	)		(74,967	)
Corporate		(101,088	)		(51,752	)		(61,294	)		(33,766	)
Total	$	(218,905	)	$	(299,700	)	$	(28,639	)	$	(222,978	)

	June 30,		December 31,
	2023		2022
Reportable assets
Direct supply model	$	12,500,056	$	14,066,203
Indirect supply model		5,748,746		4,665,735
Corporate		16,150		22,938

All long-term assets are managed under direct supply model by the chief operating decision maker.