Land Use Right, Net

3 Months Ended

Mar. 31, 2025

10. LAND USE RIGHT, NET

Land use rights, net consisted of the following:

	As of
	March 31,			December 31,
	2025			2024			2023
	US$			US$			US$
Land use rights		4,420,268			4,256,831			4,388,808
Less: accumulated amortization		(421,701	)		(347,717	)		(270,707	)
		3,998,567			3,909,114			4,118,101

Amortization expenses for the land use rights were US$21,992, US$86,377, and US$87,903 for the three months ended March 31, 2025 and the fiscal years ended December 31, 2024 and 2023, respectively. No impairment charge was recorded for the three months ended March 31, 2025 and the fiscal years ended December 31, 2024 and 2023, respectively. The land use right has a term of 50 years and will terminate in 2070. The land use right acquired through the acquisition of Pucheng Green Health Food will terminate in 2055.

	For the fiscal years ended March 31,
	2026		2027		2028		2029		2030		2031 and thereafter
	US$		US$		US$		US$		US$		US$
Amortization expenses		87,968		87,968		87,968		87,968		87,968		3,558,728

For the nine months ending December 31, 2025

As of March 31, 2025, the land use right with a carrying value of US$1,763,099 had been pledged as security for bank loans obtained by a related party, Xinhongbo.