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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 3 – PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment consisted of the following:

 

   December 31,   December 31, 
   2022   2021 
Permit of land use  $404,427   $441,783 
Building   9,391,433    10,258,885 
Plant, machinery and equipment   27,780,585    30,122,235 
Motor vehicle   438,138    337,375 
Office equipment   308,847    278,892 
Total   38,323,430    41,439,170 
Less: accumulated depreciation   (28,350,365)   (28,158,611)
Property, plant and equipment, net  $9,973,065   $13,280,559 

 

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. Depreciation expense was $2,663,975 and $3,049,706 for the years ended December 31, 2022 and 2021, respectively.