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SCHEDULE OF ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 | Dec. 31, 2022
--- | --- | --- | ---
Payables and Accruals [Abstract] |  |  |  |  |  |
Equipment purchase payable | $ 1,005,770 |  | $ 987,811 |  | $ 1,027,996 |
Long-term payments of leaseback, current | 636,733 | [1] | 307,694 | [1],[2] | 366,753 | [2]
Advance from customer | 303,899 |  | 304,488 |  | 189,192 |
Interest payable | 157,289 |  | 161,043 |  | 165,821 |
Payroll and welfare payable | 128,540 |  | 173,925 |  | 175,626 |
Deposit | 44,366 |  |  |  |  |
VAT payable | 7,190 |  | 27,545 |  | 1,727 |
Long-term payable, current portion |  |  | 7,445 | [3] | 15,746 | [3]
Others | 27,590 |  | 69,378 |  | 79,070 |
Total | $ 2,311,377 |  | $ 2,039,329 |  | $ 2,021,931 |
[1] | During the six months ended June 30, 2023 and 2024, the Company continuously entered into certain sale-and-leaseback arrangements for the purpose of obtaining financing. As a result of the available repurchase option, for accounting purposes these sale-and-leaseback arrangements are accounted for as a financing rather than a sale. Loans payables resulted from such financing were pledged by the Company’s machinery and equipment, amounted to US$485,070 and US$866,826 as of December 31, 2023 and June 30, 2024, respectively. The loans payables were installment maturity and due in July 2026 with annual interest rate ranging from 9.4% to 10.2%. The interest expenses were US$23,738 and US$17,688 for the six months ended June 30, 2023 and 2024, respectively.
[2] | During the years ended December 31, 2022 and 2023, the Company continuously entered into certain sale-and-leaseback arrangements for the purpose of obtaining financing. As a result of the available repurchase option, for accounting purposes these sale-and-leaseback arrangements are accounted for as a financing rather than a sale. Loans payables resulted from such financing were pledged by the Company’s machinery and equipment, amounted to US$478,088 and US$485,070 as of December 31, 2022 and 2023, respectively. The loans payables are repayable in installments from February 2022 to November 2025 with an annual interest rate of 10%. The interest expenses were US$52,524 and US$23,562 for the years ended December 31, 2022 and 2023, respectively.
[3] | In June 2022, the Company obtained a vehicle mortgage loan from a third party at an annual interest rate of 7.5%, with the payables are repayable in installments from June 2022 to June 2024. The assets value of pledged vehicle is US$ 22,318, and the interest expenses were US$1,006 and US$702 for the year ended December 31, 2022 and 2023.

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