PROPERTY, PLANT AND EQUIPMENT, NET

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

7. PROPERTY, PLANT AND EQUIPMENT, NET

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

	As of
	December 31, 2023			June 30, 2024
				(Unaudited)
Building	$	2,631,286		$	3,647,258
Machinery and equipment		2,140,575			2,578,241
Vehicle		64,791			63,280
Office equipment		74,411			72,595
Less: accumulated depreciation		(1,179,660	)		(1,936,479	)
Property, plant and equipment, net	$	3,731,403		$	4,424,895

For the six months ended June 30, 2023 and 2024, depreciation expenses amounted to US$160,870 and US$198,405, respectively.

7. PROPERTY, PLANT AND EQUIPMENT, NET

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

	As of December 31,
	2022			2023
Building	$	2,364,721		$	2,631,286
Machinery and equipment		1,575,147			2,140,575
Vehicle		72,298			64,791
Office equipment		63,781			74,411
Less: accumulated depreciation		(864,739	)		(1,179,660	)
Property, plant and equipment, net	$	3,211,208		$	3,731,403

For the years ended December 31, 2022 and 2023, depreciation expenses amounted to US$299,611 and US$348,485, respectively. The disposal gain was US$4,991 and nil for the years ended December 31, 2022 and 2023, respectively.