Intangible assets |
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| Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSETS | NOTE 7 – INTANGIBLE ASSETS
Intangible assets as of December 31, 2025 and 2024 consisted of the following:
The intangible assets include land use rights that the Company acquired during the 2025 fiscal year. The useful life of the land use rights is 50 years. After paying the full acquisition price, the Company secured the land use rights and pledged the property to apply for bank loans. The related bank loan is disclosed in Note 13 – Long-term Loans.
The rest intangible assets represent the ERAYAK trademark, the Company’s purchase of patents related to new technologies to produce inverters, and software purchased for internal use.
There were no disposals for the years ended December 31, 2025, 2024, and 2023. Five succeeding years of amortization are as follows:
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