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PROPERTY, PLANT AND EQUIPMENT, NET | 6 Months Ended
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Jun. 30, 2023
PROPERTY, PLANT AND EQUIPMENT, NET [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, NET | NOTE 9 - PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net consisted of the following:
|  | June 30, 2023 |  |  | December 31, 2022 |
At cost: |  |  |  |  |  |
Plant and building (1) |  | $ | 11,277,399 |  |  | $ | 11,453,436 |
Machinery and equipment |  |  | 3,365,935 |  |  |  | 2,413,087 |
Leasehold improvement |  |  | 5,708,695 |  |  |  | 2,956,515 |
Office equipment |  |  | 1,336,770 |  |  |  | 1,192,443 |
Motor vehicles |  |  | 790,491 |  |  |  | 352,972 |
Property, plant and equipment, gross |  |  | 22,479,290 |  |  |  | 18,368,453 |
Less: accumulated depreciation |  |  | (3,970,443 | ) |  |  | (3,405,862 | )
Property, plant and equipment, net |  | $ | 18,508,847 |  |  | $ | 14,962,591 |
Depreciation expenses for the six months ended June 30, 2023 and 2022 were $732,510 and $318,806, respectively. Impairment loss for the six months ended June 30, 2023 and 2022 were $160,626 and nil, 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//1943274/2147480321/958-360-50-6 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//1943274/2147480321/958-360-50-1 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//1943274/2147480321/958-360-50-7 + Details
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