v3.26.1
REVENUE AND SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Revenue And Segment Information  
REVENUE AND SEGMENT INFORMATION

 

17 REVENUE AND SEGMENT INFORMATION

 

The Group is currently organized into two operating divisions – Direct Purchase and Original Design Manufacturer (“ODM”) Services, and Manufacturing segments. These segments are the basis on which the Group reports its primary segment information to the chief operating decision marker. The business nature of each segment is disclosed as follows:

 

Direct Purchase and ODM Segment – being the business of sourcing of live wood and owning designed design on wood products for sales to end customers.

 

 

Manufacturing Segment – being the business with involvement in manufacturing of decking, flooring or sawn timbers.

 

Segment information of these businesses is presented below:

 

  (a) Reconciliation of the reportable segment revenue, profit or loss

 

   Direct
Purchase
and ODM		   Manufacturing   Unallocated   Total reportable
segment		 
   For the year ended December 31, 2025 
   Direct
Purchase
and ODM		   Manufacturing   Unallocated   Total reportable
segment		 
   USD   USD   USD   USD 
Logs   5,632,281         -    -    5,632,281 
Flooring   7,524,361    -    -    7,524,361 
Decking   1,157,385    -    -    1,157,385 
Sawn timber   270,144    -    -    270,144 
Revenue from external customers and segment revenue   14,584,171    -    -    14,584,171 
                     
Interest income   3,214    -    40    3,254 
Interest expenses   500,970    -    2,316    503,286 
Depreciation/amortization   170,961    -    950    171,911 
Reportable segment results   (5,532,383)   -    (832,402)   (6,364,785)

 

   Direct
Purchase
and ODM		   Manufacturing   Unallocated   Total reportable
segment		 
   For the year ended December 31, 2024 
   Direct
Purchase
and ODM		   Manufacturing   Unallocated   Total reportable
segment		 
   USD   USD   USD   USD 
Logs   12,160,350         -    -    12,160,350 
Flooring   745,270    -    -    745,270 
Decking   3,375,933    -    -    3,375,933 
Sawn timber   52,862    -    -    52,862 
Carbon credits   6,260    -    -    6,260 
Revenue from external customers and segment revenue   16,340,575    -    -    16,340,575 
                     
Interest income   13,173    -    188    13,361 
Interest expenses   601,703    -    2,280    705,355 
Depreciation/amortization   73,465    -    4,748    78,213 
Reportable segment results   (8,090)   -    (1,003,237)   (1,011,327)

 

 

   Direct Purchase
and ODM		   Manufacturing   Unallocated   Total reportable
segment		 
   For the year ended December 31, 2023 
   Direct Purchase
and ODM		   Manufacturing   Unallocated   Total reportable
segment		 
   USD   USD   USD   USD 
Logs   10,024,248         -    -    10,024,248 
Flooring   2,124,022    -    -    2,124,022 
Decking   5,393,401    -    -    5,393,401 
Sawn timber   131,800    -    -    131,800 
Revenue from external customers and segment revenue   17,673,471    -    -    17,673,471 
                     
Interest income   19,402    -    3,837    23,239 
Interest expenses   575,742    -    687,367    1,263,110 
Depreciation/amortization   118,514    -    8,741    127,255 
Reportable segment results   (207,401)   -    (545,680)   (753,081)

 

  (b) Reconciliation of the reportable segment assets and liabilities

 

   Direct Purchase
and ODM		   Manufacturing   Unallocated   Total reportable
segment		 
   As at December 31, 2025 
   Direct Purchase
and ODM		   Manufacturing   Unallocated   Total reportable
segment		 
   USD   USD   USD   USD 
Reportable segment assets   14,035,272          -    343,100    14,378,372 
                     
Reportable segment liabilities   (9,290,872)   -    (1,316,649)   (10,607,521)

 

   Direct Purchase
and ODM		   Manufacturing   Unallocated   Total reportable
segment		 
   As at December 31, 2024 
   Direct Purchase
and ODM		   Manufacturing   Unallocated   Total reportable
segment		 
   USD   USD   USD   USD 
Reportable segment assets   12,143,525    28,500,105    164,441    40,808,071 
                     
Reportable segment liabilities   (14,420,451)   (15,186,711)   (2,092,817)   (31,699,979)

 

  (c) Disaggregation of revenue from contracts with customers

 

 

In the following table, revenue is disaggregated by the geographical locations of customers and by the timing of revenue recognition.

 

   2025   2024   2023 
   USD   USD   USD 
             
Geographical locations:               
China   6,503,329    7,650,663    10,303,013 
Europe   1,968,041    4,091,360    6,036,052 
South America   16,089    -    895,851 
North America   317,137    514,777    43,036 
Asia   5,531,033    4,056,712    395,521 
Africa   248,542    27,063    - 
Total   14,584,171    16,340,575    17,673,473 
                
Timing of revenue recognition:               
At a point in time   14,584,171    16,340,575    17,673,473 

 

Information about major customers is disclosed in note 24 (e).