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INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2022
INTANGIBLE ASSETS, NET [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 10 –INTANGIBLE ASSETS, NET



Intangible assets, net consisted of the following:


   
December 31,
2022
    
December 31,
2021
  
At cost:
            
Land use right (1)
  
$
4,605,738
    
$
-
  
Software
    
119,550
      
129,392
  
Total
    
4,725,288
      
129,392
  
Less: accumulated amortization
    
(161,496
)
    
(126,079
)
Intangible assets, net
  
$
4,563,792
    
$
3,313
  


(1)
On April 4, 2022, the Company entered an agreement with Zhejiang HPWINNER Scientific Company Limited to acquire its land use right, with an area of 56,302 square meters with a useful life of 45.75 years and the total consideration of RMB31,766,697 (approximately $4,605,738).



Amortization expenses for the years ended December 31, 2022 and 2021 were $46,133 and $42,679, respectively.



Impairment loss for the years ended December 31, 2022 and 2021 were $2,995,440 and nil, respectively.