Property, Plant and Equipment, Net

6 Months Ended

Mar. 31, 2023

Property, Plant and Equipment, Net [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 6 — PROPERTY, PLANT AND EQUIPMENT, NET

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

	March 31, 2023			September 30, 2022
Buildings	$	2,545,101		$	2,457,701
Machinery and equipment		1,871,011			1,801,904
Automobiles		168,633			162,842
Office and electric equipment		602,474			576,185
Leasehold improvements		298,296			288,052
Subtotal		5,485,515			5,286,684
Less: accumulated depreciation		(3,902,865	)		(3,658,722	)
Property, plant and equipment, net	$	1,582,650		$	1,627,962

Depreciation expense was $111,964 and $142,954 for the six months ended March 31, 2023 and 2022, respectively. 

In connection with the Company’s bank borrowings from Bank of Jiangsu, Changzhou Zhongjin pledged a building of 11,205.83 square meters with a carrying value of RMB 16.7 million (approximately $2.4 million) as collateral (see Note 8).