Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2012

NOTE 4 - PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment consisted of the following:

	June 30, 2012			December 31,
	(Unaudited)			2011
Buildings	$	6,861,043		$	6,861,043
Shop equipment		19,960,944			19,815,360
Office equipment		4,002,854			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		3,627,398			2,087,368

Total property, plant and equipment		63,630,597			61,970,918
Less: accumulated depreciation and amortization		(21,213,041	)		(18,928,782	)

Total property, plant and equipment, net	$	42,417,556		$	43,042,136

The depreciation expenses for the period ended June 30, 2012 and June 30, 2011 were $3,284,259 and $3,566,227 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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