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Intangible Assets, Net | 12 Months Ended
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Dec. 31, 2023
Intangible Assets, Net [Abstract] |
Intangible assets, net | Note 9 – Intangible assets, net The following table presents the Company’s intangible assets as of the respective balance sheet dates:
|  | As of December 31, |  |  | As of December 31, |
|  | 2023 |  |  | 2022 |
Land use right |  | $ | 2,562,689 |  |  | $ | 2,626,781 |
Non-patent technology |  |  | 687,437 |  |  |  | 704,630 |
License |  |  | 4,180,417 |  |  |  | 4,181,273 |
Software |  |  | 5,034,167 |  |  |  | 5,760,071 |
Patents |  |  | 29,879,744 |  |  |  | 29,879,744 |
Total |  |  | 42,344,454 |  |  |  | 43,152,499 |
Accumulated amortization |  |  | (15,468,932 | ) |  |  | (15,523,631 | )
Provision for impairment |  |  | (24,545,745 | ) |  |  | (20,738,130 | )
Intangible assets, net |  | $ | 2,329,777 |  |  | $ | 6,890,738 |
Amortization expense for the years ended December 31, 2023, 2022 and 2021 amounted to US$481,728, US$8,888,601 and US$3,399,649, respectively. The Company recorded impairment charges on intangible assets of US$3,708,247, US$20,738,130 and nil for the years ended December 31, 2023, 2022 and 2021, respectively. The approximately US$3.7 million and US$20.7 million impairment charges recorded in the years ended December 31, 2023 and 2022 were recorded against a license and patents, respectively, as the carrying amount of the assets were deemed not recoverable due to the assets’ economic obsolescence identified during the periods. The impairment losses were included in the general and administrative expenses in the consolidated statements of operations and comprehensive income (loss). Estimated future amortization expense related to intangible assets held as of December 31, 2023:
Year |  |  |
2024 |  | $ | 134,407 |
2025 |  |  | 51,254 |
2026 |  |  | 51,254 |
2027 |  |  | 51,254 |
2028 |  |  | 51,254 |
Thereafter |  |  | 1,990,354 |
Total |  | $ | 2,329,777 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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