Property, Plant and Equipment

3 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 3 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following:

	March 31,			December 31,
	2020			2020
Permit of land use	$	428,633		$	431,681
Building		9,953,521			10,024,303
Plant, machinery and equipment		28,808,800			29,018,708
Motor vehicle		327,332			329,660
Office equipment		257,345			259,175
Total		39,775,631			40,063,527
Less: accumulated depreciation		(25,007,914	)		(24,499,327	)
Property, plant and equipment, net	$	14,767,717		$	15,564,200

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:

Asset	Life - years
Permit of land use	40 - 70
Building	20 - 49
Plant, machinery and equipment	5 - 10
Motor vehicle	5 - 10
Office equipment	3-5

Depreciation relating to office equipment was included in general and administrative expenses, while all other depreciation was included in cost of revenue. Depreciation expense was $690,707 and $647,113 for the three months ended March 31, 2021 and 2020, respectively.