LOBO EV TECHNOLOGIES LTD
For the period ended Jun 30, 2024. Filed Sep 30, 2024.
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Jun 30, 2024 · Filed Sep 30, 2024
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Contents
EX-99.1 · 17. SEGMENT REPORTING
17. SEGMENT REPORTING
The Company has determined that it operates in two operating segments: (1) electric vehicles and accessories sales, and (2) software royalties and development and design services.
The Company’s CODM, chief executive officer, measures the performance of each segment based on metrics of revenue and profit before taxes from operations and uses these results to evaluate the performance of, and to allocate resources to each of the segments. As most of the Company’s long-lived assets are located in the PRC and most of the Company’s revenues are derived from the PRC, no geographical information is presented. The Company does not allocate assets to its segments as the CODM does not evaluate the performance of segments using asset information.
The following tables present the summary of each reportable segment’s assets, revenue and income, which is considered as a segment operating performance measure, for the six months ended June 30, 2024 and 2023:
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