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PROPERTY, PLANT AND EQUIPMENT, NET
12 Months Ended
Dec. 31, 2024
PROPERTY, PLANT AND EQUIPMENT, NET  
PROPERTY, PLANT AND EQUIPMENT, NET

6. PROPERTY, PLANT AND EQUIPMENT, NET

The components of property, plant and equipment, net were as follows:

December 31, 

December 31, 

    

2023

    

2024

Buildings

$

978,924

$

967,761

Leasehold improvements

 

44,275

188,780

Machinery and equipment

 

2,213,281

2,497,250

Furniture, fixtures and office equipment

 

178,455

192,081

Motor vehicles

 

14,768

15,678

Freehold land

45,397

56,234

Total costs

 

3,475,100

3,917,784

Accumulated depreciation

 

(1,061,281)

(1,322,347)

Subtotal

 

2,413,819

2,595,437

Construction in progress

 

674,623

579,206

Property, plant and equipment, net

$

3,088,442

$

3,174,643

Depreciation expense was $225,351, $287,130 and $462,254 for the years ended December 31, 2022, 2023 and 2024, respectively. Construction in progress primarily includes production facilities under construction and machinery and equipment pending installation.