Plants, Property and Equipment, Net

6 Months Ended

Jun. 30, 2023

Plants, Property and Equipment, Net [Abstract]

PLANTS, PROPERTY AND EQUIPMENT, NET

Note 9 – PLANTS, PROPERTY AND EQUIPMENT, NET

Plants, property and equipment, stated at cost less accumulated depreciation, consisted of the following:

	As of June 30, 2023			As of December 31, 2022
Building	$	4,472,089		$	4,656,184
Machines		16,496,060			16,341,419
Vehicles		318,982			332,113
Electronic equipment		602,152			587,131
Furniture, fixtures and equipment		143,018			139,650
Leasehold improvements		361,542			405,141
Subtotal		22,393,843			22,461,638
Construction in progress		20,486,830			20,135,220
Less: accumulated depreciation		(2,060,226	)		(1,128,475	)
Plants, property and equipment, net	$	40,820,447		$	41,468,383

Depreciation expense was $1,021,884 and $81,074 for the six months ended June 30, 2023 and 2022, respectively.