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PROPERTY, PLANT AND EQUIPMENT, NET
 6 Months Ended
Mar. 31, 2025
PROPERTY, PLANT AND EQUIPMENT, NET  
PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 6 – PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consisted of the following:

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​

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As of

    

As of

​

​

March 31, 2025

​

September 30, 2024

Property and Buildings

​

$

13,260,613

​

$

13,518,768

Machinery and equipment

​

 

25,562,916

​

 

18,774,867

Automobiles

​

 

385,258

​

 

235,360

Office and electric equipment

​

 

5,558,848

​

 

193,294

Subtotal

​

 

44,767,635

​

 

32,722,289

Less: accumulated depreciation

​

 

(34,138,298)

​

 

(24,112,010)

Property and equipment, net

​

$

10,629,337

​

$

8,610,279

​

Depreciation expense was $422,670, $514,083 and $547,192 for the six months ended March 31, 2025, 2024 and 2023 respectively. Certain properties and equipment have been pledged as collateral under the bank loan agreement as discussed in Note 9.

As of March 31, 2025 and September 30, 2024, Qilian Chengdu made advance payments for property and buildings acquisition for $644,854 and $660,569, respectively, which was recorded in prepayments for property and equipment on the consolidated balance sheets.