XML 25 R11.htm IDEA: XBRL DOCUMENT v3.25.1
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

NOTE 4 – PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment consisted of the following:

 

   December 31,   December 31, 
   2024   2023 
Permit of land use  $391,836   $397,684 
Building   9,099,045    9,234,836 
Plant, machinery and equipment   26,835,227    27,170,123 
Motor vehicle   265,255    303,697 
Office equipment   390,434    388,740 
Total   36,981,797    37,495,080 
Less: accumulated depreciation   (32,098,396)   (30,394,655)
Property, plant and equipment, net  $4,883,401   $7,100,425 

 

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 $2,170,820 and $2,529,857 for the years ended December 31, 2024 and 2023, respectively.