XML 47 R14.htm IDEA: XBRL DOCUMENT
v3.24.1

Property, Plant and Equipment | 12 Months Ended
--- | ---
Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property, plant and equipment | (6) Property, plant and equipment As of December 31, 2023, and 2022, property, plant and equipment consisted of the following:
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Property, Plant, and Equipment: |  |  |  |  |  |
Land use rights |  | $ | 81,504,608 |  |  | $ | 57,686,220 |
Building and improvements |  |  | 67,939,059 |  |  |  | 68,300,987 |
Machinery and equipment |  |  | 158,629,858 |  |  |  | 158,498,316 |
Vehicles |  |  | 348,209 |  |  |  | 681,617 |
Construction in progress |  |  | - |  |  |  | 1,239,698 |
Totals |  |  | 308,421,734 |  |  |  | 286,406,838 |
Less: accumulated depreciation and amortization |  |  | (144,447,712 | ) |  |  | (134,836,940 | )
Property, Plant and Equipment, net |  | $ | 163,974,022 |  |  | $ | 151,569,898 |
As of December 31, 2023, land use rights represented twenty-three parcel of state-owned lands located in Xushui District and Wei County of Hebei Province in China, with lease terms of 50 years expiring from 2061 to 2068. As of December 31, 2022, land use rights represented twenty-three 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, respectively. As of December 31, 2023 and 2022, certain property, plant and equipment of Dongfang Paper with net values of $nil and $280,466, respectively, have been pledged pursuant to a long-term loan from credit union of Dongfang Paper. Land use right of Tengsheng Paper with net value of $4,910,034 and $5,111,014, respectively, as of December 31, 2023 and 2022 was pledged for a long-term loan from credit union of Baoding Shengde. In addition, land use right of Tengsheng Paper with net value of $3,781,366 and $3,948,953, respectively, as of December 31, 2023 and 2022 was pledged for another long-term loan from credit union of Baoding Shengde. Land use right of Dongfang Paper with net value of $5,135,132 as of December 31, 2023 was pledged for a long-term loan from credit union of Tengsheng Paper. See “Short-term bank loans” under Note (8), Loans Payable, for details of the transaction and asset collaterals. Depreciation and amortization of property, plant and equipment was $14,225,990 and $14,788,036 for the years ended December 31, 2023, and 2022, respectively. Loss from disposal and impairment of property, plant and equipment of $1,500,298 and $nil were recorded for the years ended December 31, 2023, and 2022.

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration