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LAND USE RIGHT, NET | 3 Months Ended
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Mar. 31, 2021
LAND USE RIGHT, NET [Abstract] |
LAND USE RIGHT, NET | NOTE 7 – LAND USE RIGHT, NET A summary of land use right is as follows:
|  | March 31, 2021 |  |  | December 31, 2020 |
Land use right purchase amount |  | $ | 9,674 |  |  | $ | 9,744 |
Less: Accumulated amortization |  |  | (145 | ) |  |  | (98 | )
Land use right, net |  | $ | 9,529 |  |  | $ | 9,646 |
In 2020 ACM Shanghai, through its wholly owned subsidiary ACM Shengwei, entered into an agreement for a 50-year land use right in the Lingang region of Shanghai. In July 2020 ACM Shengwei began a multi-year construction project for a new 1,000,000 square foot development and production center that will incorporate new manufacturing systems and automation technologies, and will provide floor space to support significantly increase production capacity and related research and development activities. The amortization for the three months ended March 31, 2020 was $49. The annual amortization of land use right for each of the five succeeding years is as follows:
Year ending December 31, |  |  |
2021 |  | $ | 196 |
2022 |  |  | 196 |
2023 |  |  | 196 |
2024 |  |  | 196 |
2025 |  |  | 196 |

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- Definition The entire disclosure for land use rights, net. + References No definition available. + Details
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