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Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 9 – PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consisted of the following:

		December 31, 2018				December 31, 2017
Property and buildings		$	42,066,001			$	28,336,864
Machinery and equipment			4,210,500				4,041,418
Transportation vehicles			979,549				925,945
Office and electronic equipment			893,680				833,105
Subtotal			48,149,730				34,137,332
Construction in progress (“CIP”)			3,530				11,281,422
Less: accumulated depreciation			(6,771,037	)			(5,585,474	)
Property and equipment, net		$	41,382,223			$	39,833,280

As of December 31, 2018, The Company’s properties with an aggregate carrying value of approximately $1.2 million (RMB 8.6 million) has been used as collateral for the Company’s short-term loans (see Note 11).

Depreciation expense was $1,584,973, $1,403,585 and $1,185,476 for the years ended December 31, 2018, 2017 and 2016, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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