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OPERATING LEASE RIGHT–OF-USE ASSETS
12 Months Ended
Dec. 31, 2025
Operating Lease Rightof-use Assets  
OPERATING LEASE RIGHT–OF-USE ASSETS

NOTE 10 – OPERATING LEASE RIGHT–OF-USE ASSETS

 

The Company has the rights to use certain parcels of land located in Shouguang, the PRC, through lease agreements signed with local townships or the government authority. For parcels of land that are collectively owned by local townships, the Company cannot obtain land use rights certificates. The parcels of land of which the Company cannot obtain land use rights certificates covers a total of approximately 34.95 square kilometers at December 31, 2025.

 

As of December 31, 2025, the total operating lease right-of-use assets was $5,669,794.

 

The total operating lease cost for the years ended December 31, 2025, and 2024 was $875,201 and $877,809.