LAND USE RIGHT, NET

12 Months Ended

Dec. 31, 2021

LAND USE RIGHT, NET [Abstract]

LAND USE RIGHT, NET

NOTE 7 – LAND USE RIGHT, NET

 A summary of land use right is as follows:

	December 31,
	2021			2020
Land use right purchase amount	$	9,966		$	9,744
Less: accumulated amortization		(299	)		(98	)
Land use right, net	$	9,667		$	9,646

In 2020 ACM Shanghai, through its wholly owned subsidiary Shengwei Research (Shanghai), Inc., entered into an agreement for a 50-year land use right in the Lingang region of Shanghai. In July 2020, Shengwei Research (Shanghai), Inc. began a multi-year construction project for a new 1,000,000 square foot development and production center that will incorporate new manufacturing systems and automation technologies, and will provide floor space to support significantly increase production capacity and related research and development activities.

The amortization for the year ended December 31, 2021 and 2020 was $199 and $98 respectively.

The annual amortization of land use right for each of the five succeeding years is as follows:

Year ending December 31,
2022	199
2023	199
2024	199
2025	199
2026	199