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Property Plant and Equipment
 6 Months Ended
Jun. 30, 2018
Property, Plant and Equipment [Abstract]  
Property Plant and Equipment

8. PROPERTY, PLANT AND EQUIPMENT

 

As of June 30, 2018 and December 31, 2017, property, plant and equipment consist of:

 

    June 30,     December 31,  
    2018     2017  
    (Unaudited)        
Office buildings   $ 4,963,371     $ 5,177,737  
Electronic equipment, furniture and fixtures     11,328,333       11,422,706  
Motor vehicles     304,400       333,769  
Purchased software     11,885,780       10,998,174  
      28,481,884       27,932,386  
Less: accumulated depreciation     (17,190,599 )     (16,101,688 )
Property, plant and equipment, net   $ 11,291,285     $ 11,830,698  

 

Depreciation expenses for the six months ended June 30, 2018 and 2017 were approximately $1.5 million and $0.9 million, respectively.

 

Management regularly evaluates property, plant and equipment for impairment, if an event occurs or circumstances change that would potentially indicate that the carrying amount of the property, plant and equipment exceeded its fair value. Management utilizes the discounted cash flow method to estimate the fair value of the property, plant and equipment.

 

Based on the test of recoverability and the estimated fair value, management determined no impairment for the six months ended June 30, 2018 and 2017.