Property, Plant and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

6. Property, Plant and Equipment

Property, plant and equipment consisted of the following:

	December 31, 2024		December 31, 2023
	US$		US$
Buildings		9,085,838		9,334,723
Machinery and equipment		2,114,970		2,171,273
Motor vehicles		600,435		671,618
Electronic equipment		228,578		234,997
Office equipment		41,023		42,175
Inspection equipment		99,209		101,995
Construction in progress		-		134,578
Total		12,170,053		12,691,359
Less: accumulated depreciation		4,283,474		3,860,391
Property and equipment, net		7,886,579		8,830,968

Depreciation expense was $543,658, $408,233 and $541,265 for the years ended December 31, 2024, 2023 and 2022, respectively.

As of December 31, 2024 and 2023, the Company pledged buildings to secure bank borrowings to the Company as disclosed in Note 9.