XML 24 R12.htm IDEA: XBRL DOCUMENT v3.21.1
Property, Plant and Equipment, Net
 12 Months Ended
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.