v3.26.1
Property, Plant and Equipment, Net
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment, Net [Abstract]  
Property, plant and equipment, net

Note 8 – Property, plant and equipment, net

 

Property, plant and equipment, net consist of the following:

 

   As of
December 31,		   As of
December 31,		 
   2025   2024 
Buildings  $29,648,756   $31,475,491 
Land   4,111,556    
-
 
Mechanical equipment   2,493,571    17,426,372 
Motor vehicles   341,680    283,320 
Office equipment   7,109,384    7,110,842 
Computer software   147,924    678,252 
Leasehold improvement   1,695,168    2,247,199 
Construction in progress   23,675    23,675 
Total   45,571,714    59,245,151 
Accumulated depreciation   (15,709,478)   (29,282,612)
Provision for impairment   (57,752)   (55,358)
Property, plant and equipment, net  $29,804,484   $29,907,181 

 

During the year ended December 31, 2025, due to the settlement with a vendor related to a constructed building which resulted to a reduction in the amount owed, the cost of the building was reduced by US$3,188,367.

 

Depreciation expense for the years ended December 31, 2025, 2024 and 2023 amounted to US$2,369,417, US$2,445,485 and US$3,038,131, respectively. The Company recorded impairment charges on property, plant and equipment of nil, nil and US$57,117 for the years ended December 31, 2025, 2024 and 2023, respectively.