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Property, Plant and Equipment, Net | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net are recorded at cost less accumulated depreciation and consisted of the following:
| As of December 31,
| 2024 |  | 2023
| $ |  | $
Land | 65,485 |  |  | 65,485 |
Building | 607,857 |  |  | 231,656 |
Manufacturing equipment | 244,255 |  |  | 186,856 |
Laboratory equipment | 240,885 |  |  | 205,349 |
Software, electronics and office equipment | 100,348 |  |  | 83,281 |
Leasehold improvements | 64,680 |  |  | 60,124 |
Property and equipment, at cost | 1,323,510 |  |  | 832,751 |
Less: Accumulated depreciation | (399,105) |  |  | (249,212) |
Construction in progress | 654,018 |  |  | 740,615 |
Property, plant and equipment, net | 1,578,423 |  |  | 1,324,154 |
The Company has made a significant investment in its newly opened manufacturing and R&D center in Hopewell, New Jersey. In the year ended December 31, 2024, $272,670 of assets were placed into service. As of December 31, 2024, the Company had construction in progress of $500,900 related to the Hopewell facility, the majority of which will be put into service in 2025. In March 2024, the Company acquired a land use right and the facility currently being constructed on the land for $73,054. The Company plans to complete the construction of the facility and build a research and development center on the land. Based on the relative fair values of the land use right and construction in progress, $29,431 of the total purchase price was allocated to the land use right and $43,623 was allocated to the construction in progress. In May 2024, the Company acquired additional construction in progress in connection with the properties for $22,538. Construction in progress (“CIP”) a s of December 31, 2024 and 2023 primarily related to the Hopewell facility, the new research and development facility acquired in 2024, a new building for Beijing Innerway Bio-tech Co., Ltd., and additional capacity at the Guangzhou and Suzhou manufacturing facilities. CIP by fixed asset class are summarized as follows:
| As of December 31,
| 2024 |  | 2023
| $ |  | $
Building | 528,629 |  |  | 579,649 |
Manufacturing equipment | 89,897 |  |  | 119,380 |
Laboratory equipment | 9,805 |  |  | 16,135 |
Other | 25,687 |  |  | 25,451 |
Total | 654,018 |  |  | 740,615 |
Depreciation expense for the years ended December 31, 2024, 2023 and 2022 were $166,938, $80,436 and $62,302, respectively. Included within depreciation expense for the year ended December 31, 2024 is $59,792 of accelerated depreciation expense resulting from the move of production to more efficient, larger scale equipment for tislelizumab.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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