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PROPERTY, PLANT AND EQUIPMENT, NET | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2024 | Dec. 31, 2023
Property, Plant and Equipment [Abstract] |  |
PROPERTY, PLANT AND EQUIPMENT, NET | 7. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net, consisted of the following: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT
|  | December 31, 2023 |  |  | June 30, 2024 |
|  | As of |
|  | December 31, 2023 |  |  | June 30, 2024 |
|  |  |  |  | (Unaudited) |
Building |  | $ | 2,631,286 |  |  | $ | 3,647,258 |
Machinery and equipment |  |  | 2,140,575 |  |  |  | 2,578,241 |
Vehicle |  |  | 64,791 |  |  |  | 63,280 |
Office equipment |  |  | 74,411 |  |  |  | 72,595 |
Property, plant and equipment, gross |  |  | 74,411 |  |  |  | 72,595 |
Less: accumulated depreciation |  |  | (1,179,660 | ) |  |  | (1,936,479 | )
Property, plant and equipment, net |  | $ | 3,731,403 |  |  | $ | 4,424,895 |
For the six months ended June 30, 2023 and 2024, depreciation expenses amounted to US$160,870 and US$198,405, respectively. | 7. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net, consisted of the following: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT
|  | 2022 |  |  | 2023 |
|  | As of December 31, |
|  | 2022 |  |  | 2023 |
Building |  | $ | 2,364,721 |  |  | $ | 2,631,286 |
Machinery and equipment |  |  | 1,575,147 |  |  |  | 2,140,575 |
Vehicle |  |  | 72,298 |  |  |  | 64,791 |
Office equipment |  |  | 63,781 |  |  |  | 74,411 |
Property, plant and equipment, gross |  |  | 63,781 |  |  |  | 74,411 |
Less: accumulated depreciation |  |  | (864,739 | ) |  |  | (1,179,660 | )
Property, plant and equipment, net |  | $ | 3,211,208 |  |  | $ | 3,731,403 |
For the years ended December 31, 2022 and 2023, depreciation expenses amounted to US$299,611 and US$348,485, respectively. The disposal gain was US$4,991 and nil for the years ended December 31, 2022 and 2023, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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