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Property, Plant and Equipment
 6 Months Ended
Jun. 30, 2018
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 3 – PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment consisted of the following:

 

   June 30,   December 31, 
   2018   2017 
Permit of land use  $425,541   $432,910 
Building   9,881,716    10,052,840 
Plant, machinery and equipment   27,591,919    28,044,515 
Motor vehicle   324,971    330,598 
Office equipment   201,602    200,974 
Total   38,425,749    39,061,837 
Less: accumulated depreciation   (16,841,257)   (15,520,834)
Property Plant and Equipment, net  $21,584,492   $23,541,003 

 

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:

 

Asset   Life - years
Permit of land use   40 - 70
Building   20 - 49
Plant, machinery and equipment   5 - 10
Motor vehicle   5 - 10
Office equipment   3-5

 

Depreciation relating to office equipment was included in general and administrative expenses, while all other depreciation was included in cost of revenue. For the three months ended June 30, 2018 and 2017, depreciation expense was $819,522 and $770,458, respectively. For the six months ended June 30, 2018 and 2017 depreciation expense was $1,647,471 and $1,535,072.