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v3.21.1

Property, Plant and Equipment, Net | 12 Months Ended
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Dec. 31, 2020
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, NET | Note 6 – PROPERTY, PLANT AND EQUIPMENT, NET As of December 31, 2020 and 2019, property, plant and equipment consisted of the following:
|  | December 31, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Machinery equipment |  | $ | 1,992,910 |  |  | $ | 2,689,763 |
Electronic equipment |  |  | 32,285 |  |  |  | 29,132 |
Office equipment |  |  | 251,914 |  |  |  | 236,008 |
Vehicles |  |  | 43,709 |  |  |  | 40,947 |
Buildings |  |  | 6,312,545 |  |  |  | 5,917,815 |
Leasehold Improvement |  |  | 328,431 |  |  |  | 307,786 |
Total property, plant and equipment |  |  | 8,961,794 |  |  |  | 9,221,451 |
Less: accumulated depreciation |  |  | (2,324,799 | ) |  |  | (1,852,348 | )
Less: impairment loss |  |  | - |  |  |  | (813,344 | )
Translation adjustments |  |  | - |  |  |  | 6,910 |
Property, plant and equipment, net |  | $ | 6,636,995 |  |  | $ | 6,562,669 |
Depreciation expense for the years ended December 31, 2020, 2019 and 2018 was $363,098, $543,311 and $388,256, respectively. As of December 31, 2020 and 2019, certain property, plant and equipment with net book value of $6,174,867 and $5,929,779 were pledged as collateral under certain loan arrangements, respectively (also see Note 8). As of December 31, 2020 and 2019, certain buildings with net book value of $5,890,975 and $5,617,343 were judicially seized by the court.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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