Property, Plant and Equipment

12 Months Ended

Dec. 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:

	December 31,			December 31,
	2021			2020
Permit of land use	$	441,783		$	431,681
Building		10,258,885			10,024,303
Plant, machinery and equipment		30,122,235			29,018,708
Motor vehicle		337,375			329,660
Office equipment		278,892			259,175
Total		41,439,170			40,063,527
Less: accumulated depreciation		(28,158,611	)		(24,499,327	)
Property, plant and equipment, net	$	13,280,559		$	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 $3,049,706 and $2,643,820 for the years ended December 31, 2021 and 2020, respectively.