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Property and Equipment, Net

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Note 6 — Property and equipment, net

Property and equipment, net consist of the following:

​

​	​	​	​	​	​	​
​	​	As of		​	As of
​		June 30, 2024			December 31, 2023
​		USD		​	USD
​	​	​		​	​
Building	​	$	946,066	​	$	946,066
Leasehold Improvements	​	​	2,829,927	​	​	1,695,361
Machinery and equipment	​		1,731,582	​		1,613,439
Furniture and fixtures	​		278,578	​		259,449
Vehicles	​		147,912	​		147,912
Molds	​		26,377	​		26,377
Subtotal	​		5,960,442	​		4,688,604
Less: accumulated depreciation	​		(3,079,463)	​		(2,778,113)
Prepayment for purchase of equipment and construction-in-progress	​	​	16,100	​	​	—
Total	​	$	2,897,079	​	$	1,910,491

​

​

Depreciation expenses amounted to $111,568 and $43,199 for the three months ended June 30, 2024 and 2023 respectively, and $199,439 and $78,759 for the six months ended June 30, 2024 and 2023, respectively. Depreciation expenses were included in general and administrative expenses on the unaudited condensed consolidated statements of operations and comprehensive (loss) income.

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- References

No definition available.

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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

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