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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Property, plant and equipment | (6) Property, plant and equipment As of December 31, 2024, and 2023, property, plant and equipment consisted of the following:
|  | December 31, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Land use rights |  | $ | 80,306,144 |  |  | $ | 81,504,608 |
Building and improvements |  |  | 66,580,793 |  |  |  | 67,939,059 |
Machinery and equipment |  |  | 156,179,361 |  |  |  | 158,629,858 |
Vehicles |  |  | 343,088 |  |  |  | 348,209 |
Construction in progress |  |  | - |  |  |  | - |
Totals |  |  | 303,409,386 |  |  |  | 308,421,734 |
Less: accumulated depreciation and amortization |  |  | (156,497,503 | ) |  |  | (144,447,712 | )
Property, Plant and Equipment, net |  | $ | 146,911,883 |  |  | $ | 163,974,022 |
As of December 31, 2024 and 2023, land use rights represented twenty three parcels of state-owned lands located in Xushui District and Wei County of Hebei Province in China, with lease terms of 50 years expiring in 2061 and 2068, respectively. As of December 31, 2024 and 2023, certain property, plant and equipment of Dongfang Paper with net values of $nil have been pledged pursuant to a long-term loan from credit union of Dongfang Paper. Certain property, plant and equipment of Baoding Shengde with net value of $3,407,848 have been pledged pursuant two short-term loans from credit union of Baoding Shengde. 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 $14,221,082 and $14,225,990 for the years ended December 31, 2024, and 2023, respectively. Loss from disposal and impairment of property, plant and equipment of $102,490 and $1,500,298 were recorded for the years ended December 31, 2024, and 2023.

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- 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/1943274/2147477798/958-360-50-6 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/1943274/2147477798/958-360-50-1 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/1943274/2147477798/958-360-50-7 + Details
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