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PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2019

PROPERTY, PLANT AND EQUIPMENT, NET

PROPERTY, PLANT AND EQUIPMENT, NET

7. PROPERTY, PLANT AND EQUIPMENT, NET

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

		December 31,
		2018			2019
Cost
Buildings and plant		$	330,500,911		$	400,843,258
Machinery and equipment			335,808,916			821,582,040
Furniture, fixtures and equipment			25,953,939			44,550,155
Motor vehicles			582,375			905,217
Less: Accumulated depreciation			(133,334,881)			(288,194,536)
Property, plant and equipment, net		$	559,511,260		$	979,686,134
Construction in process			57,463,560			15,341,080
Total		$	616,974,820		$	995,027,214

Due to the change of management's plan as described in Note 3, machinery and equipment of $43.1 million as well as plant of  $5.1 million are reclassified from assets held for sale to property, plant and equipment as of December 31, 2019.

Depreciation expense was $27,801,924,  $27,718,260 and $47,371,130 for the years ended December 31, 2017, 2018 and 2019, respectively.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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- References

No definition available.

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