PROPERTY, PLANT AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2012

NOTE 10

PROPERTY, PLANT AND EQUIPMENT, NET

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

	June 30,			December 31,
	2012			2011
Cost:
Buildings	$	32,946,186		$	11,399,913
Office equipment		382,341			383,797
Motor vehicles		685,671			688,283
Machinery		21,898,225			15,597,187

Total cost		55,912,423			28,069,180
Less: Accumulated depreciation		(8,607,793	)		(7,503,305	)

Net book value	$	47,304,630		$	20,565,875

Depreciation expense was $1,136,103 and $1,092,772 for the six months ended June 30, 2012 and 2011, and $580,087 and $567,765 for the three months ended June 30, 2012 and 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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