Segment Information

9 Months Ended

Sep. 30, 2025

Segment Information [Abstract]

Segment Information

20. Segment information

The Company uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s CODM, specifically the Company’s CEO and CFO, for making decisions, allocating resources and assessing performance.

The CODM considers that the Company has only one principal revenue stream, which is the wholesaling and distributing of motor vehicle lighting components. The Company carries out all its business activities and operations in the United States. All transactions are concluded and completed in the United States with similar terms and conditions. Internally, the Company reports costs and expenses by nature as a whole for management decision-making and assessment. Based on management’s assessment, the Company determines that it has only one operating segment and therefore one reportable segment as defined by ASC 280. Furthermore, since all the Company’s revenue is derived in the United States with all operations being carried out in the United States, no geographical segment is presented. The Company concludes that it has only one reportable segment.

The CODM of the Company primarily utilizes the net income to monitor budget-to-actual performance and to assess the adequacy of capital resources for marketing and development. Additionally, the CODM reviews and uses functional expenses included in net income (loss) to manage the Company’s operations and assess operating profitability. The Company operates as one operating and reportable segment, and as such the significant segment expenses regularly provided to the CODM are those presented on the consolidated statements of operations. These significant segment expense include cost of revenues, selling and marketing expenses, and general and administrative expenses. Other segment items that are presented on the consolidated statements of operations include other income, net, and income tax (expense) benefit. 

The following table presents the significant revenue and expense categories in the Company’s single operating segment:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2025			2024			2025			2024
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Revenue	$	18,928,907		$	18,186,786		$	55,044,610		$	60,978,809
Cost of revenue		(15,155,154	)		(12,889,868	)		(40,068,834	)		(43,442,519	)
Selling and marketing expenses		(1,536,703	)		(2,139,155	)		(5,768,399	)		(6,152,821	)
General and administrative expenses		(3,162,847	)		(3,534,932	)		(10,498,297	)		(10,507,036	)
Other income, net		415,023			365,629			2,094,110			972,953
Income tax (expense) benefit		68,308			(587	)		236,859			(21,526	)
Net (loss) income of single operating segment	$	(442,466	)	$	(12,127	)	$	1,040,049		$	1,827,860