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Property, Plant and Equipment, Net | 3 Months Ended
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Mar. 31, 2019
Property, Plant and Equipment [Abstract] |
Property, plant and equipment, net | (6) Property, plant and equipment, net As of March 31, 2019 and December 31, 2018, property, plant and equipment consisted of the following:
|  | March 31, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
Property, Plant, and Equipment: |  |  |  |  |  |
Land use rights |  | $ | 12,110,433 |  |  | $ | 11,881,571 |
Building and improvements |  |  | 95,940,419 |  |  |  | 94,127,348 |
Machinery and equipment |  |  | 162,789,664 |  |  |  | 159,651,736 |
Vehicles |  |  | 608,993 |  |  |  | 597,484 |
Construction in progress |  |  | 5,137,243 |  |  |  | 5,005,041 |
Totals |  |  | 276,586,752 |  |  |  | 271,263,180 |
Less: accumulated depreciation and amortization |  |  | (109,341,374 | ) |  |  | (103,433,464 | )
Property, Plant and Equipment, net |  | $ | 167,245,378 |  |  | $ | 167,829,716 |
As of March 31, 2019 and December 31, 2018, land use rights represented two parcel of state-owned lands located in Xushui District of Hebei Province in China, with lease terms of 50 years expiring from 2061 to 2066. Construction in progress mainly represents payments for improvement of the office building and essentially all industrial-use buildings in the Headquarters Compound(the "Industrial Buildings"). As of March 31, 2019 and December 31, 2018, certain property, plant and equipment of Dongfang Paper with net values of $5,439,796 and $5,782,640, respectively, have been pledged pursuant to a long-term loan from credit union of Dongfang Paper. Land use right of Dongfang Paper with net values of $6,070,749 and $5,990,586 as of March 31, 2019 and December 31, 2018 were pledged for the bank loan from Bank of Industrial & Commercial Bank of China. Plant and equipment of Baoding Shengde with net values of $12,939,899 as of December 31, 2018, and another land use right with net value of $4,762,300 as of December 31, 2018 were pledged for the bank loan from Bank of Cangzhou. See "Short-term bank loans" under Note (7), Loans Payable, for details of the transaction and asset collaterals. Depreciation and amortization of property, plant and equipment was $3,930,060 and $3,730,585 for the three months ended March 31, 2019 and 2018, respectively.

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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 + Details
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