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PROPERTY, PLANT AND EQUIPMENT, NET | 9 Months Ended
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Sep. 30, 2025
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, NET | NOTE 6 – PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net consist of the following: Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment, Net
|  | September 30, 2025 |  | December 31, 2024
At cost: |  |  |  |  |  |  |  |
Mineral rights |  | $ | 2,714,318 |  |  | $ | 2,682,882 |
Buildings |  |  | 76,562,769 |  |  |  | 68,476,868 |
Plant and machinery |  |  | 123,824,882 |  |  |  | 143,839,420 |
Furniture, fixtures and office equipment |  |  | 1,451,905 |  |  |  | 1,435,090 |
Motor vehicles |  |  | 125,670 |  |  |  | 124,215 |
Construction in process |  |  | — |  |  |  | 10,155,642 |
Total |  |  | 204,679,544 |  |  |  | 226,714,117 |
Less: Accumulated depreciation and amortization |  |  | (94,768,106 | ) |  |  | (83,826,560 | )
Impairment |  |  | — |  |  |  | (6,744,380 | )
Net book value |  | $ | 109,911,438 |  |  | $ | 136,143,177 |
The Company has certain buildings and salt pans erected on parcels of land located in Shouguang, PRC, and such parcels of land are collectively owned by local townships or the government authority. The Company has not been able to obtain property ownership certificates over these buildings and salt pans. The aggregate carrying values of these properties situated on parcels of the land are $57,674,442 and $50,219,026 as at September 30, 2025 and December 31, 2024, respectively. The increase in this amount is mainly due to the renovation project of crude salt pans. During the three-month period ended September 30, 2025, depreciation and amortization expense totaled $3,747,191 ,of which $353,924, $193,767 and $3,199,500 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue. During the nine-month period ended September 30, 2025,depreciation and amortization expense totaled $11,735,615 of which $3,253,978, $1,174,875 and $7,306,762 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue. During the three-month period ended September 30, 2024, depreciation and amortization expense totaled $4,522,525, of which $1,211,694, $203,244 and $3,107,587 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue. During the nine-month period ended September 30, 2024,depreciation and amortization expense totaled $13,980,751 of which $5,601,791, $605,945 and $7,773,015 were recorded in direct labor and factory overheads incurred during plant shutdown, administrative expenses and cost of net revenue. The company had done the impairment of $22,790,991 for these assets based on the independent third party evaluation report, and further been auctioned by the court due to the compulsory execution related to litigation. Please see note 16 for more details. For those acquired crude salt assets bought back in year 2024. The company carried out and completed an update and renovation on them during year 2025, with a total cost of $8,673,384.

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