PROPERTY, PLANT AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2012

NOTE 4 - PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment consisted of the following:

	March 31, 2012 (Unaudited)			December 31, 2011

Buildings	$	6,861,043		$	6,861,043
Shop equipment		19,957,779			19,815,360
Office equipment		4,001,272			4,028,789
Motor vehicles		1,642,125			1,642,125
Car park		20,237			20,237
Leasehold improvements		27,515,996			27,515,996
Construction in progress		3,067,223			2,087,368

Total property, plant and equipment		63,065,675			61,970,918
Less: accumulated depreciation and amortization		(20,570,213	)		(18,928,782	)

Total property, plant and equipment, net	$	42,495,462		$	43,042,136

The depreciation expenses for the period ended March 31, 2012 and 2011 were $1,641,431 and $1,299,885, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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